An automotive electric parking brake is a kind of electronically controlled parking brake. In this type of brake, holding mechanism is activated by pressing a button and the brake pads are applied to the rear wheels of the vehicle electrically. Full electric drive-by-wire systems and electric-hydraulic caliper system are two major types of electric parking brake. Automotive electric parking brake market is expected to grow considerably all over the world in coming years.
MARKET SCOPE
The "Global Automotive Electric Parking Brake Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive electric parking brake market with detailed market segmentation by components, type, vehicle type, and geography. The report provides key statistics on the market status of the leading automotive electric parking brake market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on components, the global automotive electric parking brake market is segmented into caliper integrated system, brake systems, electronic control unit, sensors and actuators.
- On the basis of type, the market is segmented into electric-hydraulic caliper system and full electric drive-by-wire systems.
- Based on vehicle type, the market is bifurcated into passenger car, light commercial vehicle and heavy commercial vehicle.
MARKET DYNAMICS
Drivers:
- Growing concern and awareness regarding safety.
- Rising urbanization and increasing per capita disposable income to boost market growth of electric parking brakes.
Restraints:
- Unorganized retail sector in some developing countries.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive electric parking brake market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive electric parking brake market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE ELECTRIC PARKING BRAKE MARKET
The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. This pandemic restricted the movement of people from one place to another. Thus, the demand for automobiles reduced drastically in many regions of the world. All these factors impacted the automotive electric parking brake market negatively.
MARKET PLAYERS
The report covers key developments in the automotive electric parking brake market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive electric parking brake market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive electric parking brake in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive electric parking brake market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Allegro MicroSystems, Inc.
- Continental AG
- EMC, LLC (The AEVIT)
- Hella Pagid GmbH
- Hyundai Mobis
- K?ster Holding GmbH
- SKF
- Toshiba Corporation
- WABCO
- ZF Friedrichshafen AG