Electric Parking Brake Market to Register healthy CAGR of 11.2% During 2019-2024

Electric Parking Brake System Market 2019-2024

The electric parking brake is a substitute for the traditional handbrake. Electric parking brake eliminates the need for a parking brake lever or pedal and improves vehicle styling, space management, and crashworthiness. Its a lot easier for automakers to design their interiors and to add new features and options.

With the fast increase of automobile production, the electric parking brake market will develop fast in the next years. The prospect of the electric parking brake industry is good. The growth rate of European automobile production may be low, but the high penetration of electric parking brake keeps it as large market demand. The fast growth rate of automotive electric parking brake system makes it more common for general cars, not only belong to luxury cars.

In the next years, the growth rate of Chinese automobile production will be higher than in other regions. Almost all of top electric parking brake manufacturers have built plants in China and they have occupied a large share of the electric parking brake market.

There is a large technical gap between electric parking brakes produced by Chinese manufacturers and foreign manufacturers. To expand the market share, these domestic manufacturers must invest more money and time on research and development.

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As the policies published by the Chinese government support domestic electric parking brake industry, both the foreign manufacturers and domestic manufacturers can get some favorable condition. The number of new competitors may be more and some may prefer to cooperate with foreign manufacturers to maximize the advantages of both sides.

The market share of the traditional brake is still large and the complete replacement of traditional brake still need a long time. Correspondingly, new brake technologies may appear in the future.

According to this study, over the next five years, the Electric Parking Brake System market will register an 11.2% CAGR in terms of revenue, the global market size will reach US$ 11100 million by 2024, from US$ 5860 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in the Electric Parking Brake System business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of the Electric Parking Brake System market by product type, application, key manufacturers and key regions and countries.

This study considers the Electric Parking Brake System value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

Caliper Integrated EPB
Cable Puller EPB

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

Sedans
SUVs
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

America
APAC
Europe
Middle East & Africa

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The report also presents the market competitive landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in Chapter 3.

ZF TRW
Continental
Küster
Dura
Mando
AISIN
Hyundai Mobis
Zhejiang Libang Hexin
Wuhu Bethel

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

Study and analyze the global Electric Parking Brake System consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
Understand the structure of the Electric Parking Brake System market by identifying its various sub-segments.
Focuses on the key global Electric Parking Brake System manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in next few years.
Analyze the Electric Parking Brake System with respect to individual growth trends, future prospects, and their contribution to the total market.
Share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks.
Project the consumption of Electric Parking Brake System submarkets, with respect to key regions along with their respective key countries.
Analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Strategically profile the key players and comprehensively analyze their growth strategies.

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