According to HTF Market Intelligence, the Global Electric Parking Brake System market to witness a CAGR of 9.8% during forecast period of 2024-2030. Global Electric Parking Brake System Market Breakdown by Application (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) by Type (Electric-Hydraulic Caliper System, Cable-Pull System) by Component (Electronic Control Unit (ECU), Actuator, Switch) by Technology (Anti-Lock Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TCS), Electronic Brake-Force Distribution (EBD)) by Brake Type (Disc Brake, Drum Brake) by Sales Channel (OEMs, Aftermarket) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Electric Parking Brake System market size is estimated to increase by USD 1.5 Billion at a CAGR of 9.8% from 2024 to 2030. The report includes historic market data from 2019 to 2023E. Currently, market value is pegged at USD 2.8 Billion.
An electric parking brake (EPB) system is a type of parking brake system that uses an electric motor instead of a traditional mechanical handbrake to hold the vehicle stationary when parked. The EPB system is operated by a switch or button located on the vehicle’s dashboard or center console. When the switch is activated, the electric motor applies the brakes to prevent the vehicle from moving. The EPB system also offers additional features, such as automatic release when the accelerator pedal is pressed and hill-hold assist. The EPB system is typically found in newer vehicles and is becoming increasingly popular due to its ease of use, reliability, and safety benefits. The electric parking brake system market includes a range of products from different manufacturers and is expected to grow significantly in the coming years due to increasing demand for advanced safety features in vehicles.
Market Drivers
- Government regulations mandating the use of advanced safety features in vehicles.
- Growing awareness about vehicle safety among consumers.
- Increasing demand for convenience and comfort features in vehicles.
- Technological advancements and cost reduction in
Market Trend
- Increasing demand for electric and hybrid vehicles.
- Growing adoption of brake-by-wire technology in vehicles.
- Advancements in electronic control units (ECUs) and sensors used in electric parking brake systems.
- Growing trend of integrating electric parking
Opportunities
- Expansion of the electric parking brake system market in emerging economies.
- Integration of electric parking brake systems with autonomous driving technologies.
- Increasing adoption of electric parking brake systems in commercial vehicles.
Major Highlights of the Electric Parking Brake System Market report released by HTF MI
Global Electric Parking Brake System Market Breakdown by Application (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) by Type (Electric-Hydraulic Caliper System, Cable-Pull System) by Component (Electronic Control Unit (ECU), Actuator, Switch) by Technology (Anti-Lock Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TCS), Electronic Brake-Force Distribution (EBD)) by Brake Type (Disc Brake, Drum Brake) by Sales Channel (OEMs, Aftermarket) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Check for discount on Immediate Purchase @ https://www.htfmarketintelligence.com/request-discount/global-electric-parking-brake-system-market?utm_source=Alefiya_Dailynewsmirror&utm_id=Alefiya
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa(South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America(United States, Mexico & Canada)
- South America(Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe(Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific(Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Informational Takeaways from the Market Study: The report Electric Parking Brake System matches the completely examined and evaluated data of the noticeable companies and their situation in the market considering impact of Coronavirus. The measured tools including SWOT analysis, Porter’s five powers analysis, and assumption return debt were utilized while separating the improvement of the key players performing in the market.
Key Development’s in the Market: This segment of the Electric Parking Brake System report fuses the major developments of the market that contains confirmations, composed endeavours, R&D, new thing dispatch, joint endeavours, and relationship of driving members working in the market.
Buy Complete Assessment of Electric Parking Brake System Market Now @: https://www.htfmarketintelligence.com/buy-now?format=1&report=1719?utm_source=Alefiya_Dailynewsmirror&utm_id=Alefiya
Some of the important question for stakeholders and business professional for expanding their position in the Electric Parking Brake System Market:
Q 1. Which Region offers the most rewarding open doors for the market Ahead of 2023?
Q 2. What are the business threats and Impact of latest scenario over the market Growth and Estimation?
Q 3. What are probably the most encouraging, high-development scenarios for Electric Parking Brake System movement showcase by applications, types and regions?
Q 4.What segments grab most noteworthy attention in Electric Parking Brake System Market in 2023 and beyond?
Q 5. Who are the significant players confronting and developing in Electric Parking Brake System Market?
Electric Parking Brake System Market Study Coverage:
- It includes major manufacturers, emerging player’s growth story, and major business segments of Electric Parking Brake System market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
- Electric Parking Brake System Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
- Electric Parking Brake System Market Production by Region
- Electric Parking Brake System Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
- Key Points Covered in Electric Parking Brake System Market Report: Overview, drivers and barriers
- Electric Parking Brake System Market Competition by Manufacturers
- Electric Parking Brake System Market Capacity, Production, Revenue (Value) by Region (2024-2030)
- Electric Parking Brake System Market Supply (Production), Consumption, Export, Import by Region (2024-2030)
- Electric Parking Brake System Market Manufacturers Profiles/Analysis
- Electric Parking Brake System Market Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
- Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
Browse Complete Summary and Table of Content @: https://www.htfmarketintelligence.com/report/global-electric-parking-brake-system-market
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, LATAM, Europe or Southeast Asia.
About Author:
HTF Market Intelligence consulting is uniquely positioned empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist in decision making.
Contact Us:
Nidhi Bhavsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketintelligence.com