An electric parking brake is installed in an automotive to stop or holds the vehicle on the flat ground or hill roads. The vital advantage of using electronic parking brake is that it has less components, compact, robust and light weight as compared to traditional mechanical brake system.
Electric parking brake works in function with electronic control unit (ECU), actuator mechanism and electric switch which guarantees optimum brake power and efficient operation.
Electric parking brake system also comprises driver support functions such as hill start assist functions, which assist the driver to stabilize or stop the vehicle on steep or hilly road.
The major factors responsible for the growth of electric parking brake market are stringent government regulations regarding road safety, growing adoption of automated vehicle technology, upsurge in the demand for driver assisted systems, and increasing demand for fuel efficient vehicles.
The primary driver which propels the demand of the market is growing adoption of electric parking brake in the vehicles due to reduced weight and ease of convenience as compared to mechanically operated brakes, which eventually improves the fuel economy and reduced carbon emissions.
The utilization of electronic control unit (ECU) along with integration of other electric components such as rear camera in the vehicle offers maximum safety to the driver and passenger, which further increases the growth of electric parking brake market.
Increasing demand for safety, luxury, convenience increases the demand for electric parking brake market. However, high cost of electric parking brake and lack of skilled technician staff to asses or install the system is subjected to hinder the growth of the market.
To provide in-depth insights into the pattern of demand for the electric parking brake market, the market is segmented by type.
It includes Electric-Hydraulic Caliper System and Cable-Pull System. Electric-Hydraulic Caliper System segment is expected to dominate the electric parking brake market over the forecast period, regarding value, which accounted for more than 65% value share in 2017.
To provide in-depth insights into the pattern of demand for the electric parking brake market, the market is segmented by component.
It includes below Electronic Control Unit, Actuator and Switch. Electronic Control Unit segment is expected to dominate the electric parking brake market over the forecast period, regarding value, which accounted for more than 35% value share in 2017.
The section – electric parking brake market analysis, by vehicle type comprehensively analyzes the market by vehicle type in which electric parking brake are installed.
The market is segmented into Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle. The segment, passenger car in electric parking brake market accounted for the highest market share of more than 45% in 2017.
The section – electric parking brake market analysis, by sales channel comprehensively analyzes the market by different sales channel through which the electric parking brake are sold. The market is segmented into OEM and Aftermarket.
OEM segment accounted for the highest market share in 2017. However, the aftermarket segment is also subjected to witness a healthy CAGR of more than 5% during the forecast period due to the expansion of automotive sector across the developing economies.
Also, increasing demand for electric parking brake in the APEJ region is driving the prominent manufacturers to strategically enter in the APEJ market with an objective to target the opportunities in the region.
The electric parking brake market in North America and Europe region has been steady over the last decade, and hence, the companies are targeting emerging economies markets to increase their sales revenues.
Globally, automotive industry is experiencing noteworthy technological advancements in the conventional systems. In order to substitute the typical lever operated hand brake system, vendors devised a novel electric parking brake.
Primary drivers of global electric parking brake market include, growing diffusion of autonomous vehicle technology and growing inclination towards road safety.
Moreover, espousal of electric parking brake permits substantial weight saving compared to conventional mechanical parking brake systems which supports in enhanced fuel economy and reduce carbon emissions.
Electronic control of electric parking brake comes along with the integration of other safety technologies, thus boosts the demand for electric parking brake, globally.
Earlier, electric parking brake technology was subjected only to premium passenger cars, which was limiting its growth, however the safety regulations and decline in manufacturing cost has resulted into its growing implementation across all vehicle type.
In order to cater automobile manufacturers’ prospects to decrease cost, weight and size, manufacturers are proposing caliper integrated versions. Electric-Hydraulic caliper system controls and power stages which are integrated into the ESC controller.
Additionally, automobile manufacturers are endeavoring to develop low cost electric parking brake system for compact and mid-range vehicles.
Through the aim of offering smart functionality & identifying when to apply and release the electric parking brake, manufacturers are assimilating electric control units into the vehicle’s network structural design.
This facilitates the assessment of data from engine, transmission, position of clutch, throttle and wheel sensors.
Know More Details About the Report
Analysis by Region:
On the basis of region, the global electric parking brake market is segmented into North America, Latin America, Europe, Japan, Asia-Pacific excluding Japan(APEJ) and MEA.
Among these regions, the APEJ electric parking brake market is projected to exhibit relatively higher growth in the global electric parking brake market with a CAGR of over 9.0% during the forecast period.
Revenue from the electric parking brake market in North America and Europe is expected to collectively account for more than 35% of the global electric parking brake market revenue in 2018.
Key competitors in electric parking brake market are Aisin Seiki Co., Ltd., Continental AG, DURA Automotive Systems, TBK Co., Ltd., Hyundai Mobis Co., Ltd., Küster Holding GmbH, Mando-Hella Electronics Corp., Svenska Kullagerfabriken AB, ZF Friedrichshafen AG and Wuhu Bethel Automotive Safety Systems Co., Ltd.
Vendors in the Electric Parking Brake market are focusing on launching new products with advanced features and business expansion to gain a competitive edge in the market.
In October 2017, ZF Friedrichshafen AG and Brakes India launch new electric parking brake system for small cars in India. The all new electric parking brake system adds a host of functionality and sensors integrated into the entire braking system, alongside the standard park brake functionality.
Avail customized purchase options for your needs
Key Segments Covered in Electric Parking Brake Report:
On the basis of type, the electric parking brake market can be segmented into:
- Electric-Hydraulic Caliper System
- Cable-Pull System
On the basis of component, the electric parking brake market can be segmented into:
- Electronic Control Unit
On the basis of vehicle type, the electric parking brake market can be segmented into:
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
On the basis of sales channel, the electric parking brake market can be segmented into:
On the basis of region, the Electric Parking Brake market can be segmented into:
- North America
- Latin America
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
Fact.MR offers a 10-year forecast for the electric parking brake between 2018 and 2027. In terms of value, the electric parking brake market is expected to register a CAGR of 7.0% during the forecast period (2018–2027).
The study offers key trends that are currently influencing the growth of the electric parking brake market.
This newly published and insightful report shed light on key dynamics, which are expected to transform future of the electric parking brake market, in turn, creating flourishing avenues for prominent companies as well as emerging players associated with the manufacturing of electric parking brake.
The electric parking brake market study is a sinuous market intelligence on key revenue growth drivers, challenges, industry trends, and opportunities, which will eventually influence the growth trajectory of the Electric Parking Brake market.
The report initially imparts an overview of the electric parking brake market, considering current and prospects in the automotive sector growth, to reveal attractive facets relating to the adoption of electric parking brake across key regional markets.
An in-depth assessment on prominent electric parking brake manufacturers offered in the report allows the report readers to gain detailed insights that are derived from the electric parking brake manufacturers across the regional markets incorporated in the report.
A list of key companies operating in the electric parking brake market provided in the report adds to the credibility of this exhaustive research study.
Electric Parking Brake Market: Report Summary and Scope
The study offers detailed intelligence on different factors influencing demand, sales and revenue generation in the electric parking brake market across the globe.
The opportunity analysis included in the report is beneficial for the readers to understand better opportunities in the sector, which will, in turn, trigger the adoption of the electric parking brake.
A detailed forecast on the electric parking brake market has also been offered by the analysts, who have categorized the market forecasts in terms of a likely scenario, conservative scenario, and an optimistic scenario regarding production and sales of the electric parking brake during the period of forecast.
Segmentation based on the most attractive sites of the electric parking brake market has been provided in the form of a taxonomy table in the report.
Electric Parking Brake Market: Analysis on Market Size Evaluation
Current and future prospects of the electric parking brake market, containing current, as well as future projected values and volume forecast and analysis on region-wise demand trends, have been incorporated in the report.
Assessment offered on the factors mentioned above are comprehensive and dedicated weighted chapters have been delivered on the same.
Market value at a global and regional scale and volume at a global scale for the electric parking brake is offered in terms of “(US$ Mn)” and “(000’ Units)”. A Y-o-Y growth comparison on key electric parking brake market segments, along with the market attractiveness assessment quantifies insights delivered in the report.
Aforementioned metrics are also tracked based on electric parking brake type, component, vehicle type, and sales channel where electric parking brake witnesses high demand.
Electric Parking Brake Market: Scrutinized Assessment on Regional Segments
Weighted chapters have been included in the report on the electric parking brake market, which imparts forecast on the regional markets.
These chapters illuminate the regional macros (business, economic, and political environment outlook), which are most likely expected to have a significant impact on the growth of the electric parking brake market in the near future.
Country-specific assessment on demand for the electric parking brake has been provided for each regional market, along with the market size valuation and forecast, and impact analysis of key regional and country-wise dynamics.
The Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Electric Parking Brake Market: In-depth Analysis on Competitive Landscape
The report concludes with a weighted chapter on the competitive landscape of the electric parking brake market, which profiles key companies contributing to the market expansion.
Up-to-date and important data as well as knowledge related to the market players, who predominantly engage in the production and distribution of the electric parking brake, has been delivered with the help of a dashboard view.
Market share comparison and analysis on these market players offered in the report enables the report readers to devise strategic steps forward for their businesses.
Company profiles are also incorporated in the report, which exerts company details along with a comprehensive product offering by each player identified.
The intensity mapping of the market players operating in the electric parking brake market provides readers with actionable intelligence, which helps in understanding the current market status, and prospects determining the competition levels in the electric parking brake market.
Fact.MR has profiled some of the most prominent company’s active in the global electric parking brake market such as Aisin Seiki Co., Ltd., Continental AG, DURA Automotive Systems, TBK Co., Ltd., Hyundai Mobis Co., Ltd., Küster Holding GmbH, Mando-Hella Electronics Corp., Svenska Kullagerfabriken AB, ZF Friedrichshafen AG and Wuhu Bethel Automotive Safety Systems Co., Ltd.
Need an Exclusive Report for your Unique Requirement?
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.