The Infinium Global Research analyzes the Automotive Electronic Parking Brake Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global automotive electronic parking brake market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of automotive electronic parking brake. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the automotive electronic parking brake market during the period. The global automotive electronic parking brake market is projected to grow at a CAGR of 7.86% over the forecast period of 2019-2025.
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Automotive Electronic Parking Brake Market: Competitive Landscape
The leading automakers have cars integrated with electronic parking brakes. The electronic parking brakes market is consolidated in nature with few of the players in the market accounting for a large part of the market share. The key players in the market include ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., Continental AG, Robert Bosch GmbH, Toshiba Electronic Devices & Storage Corporation, and others are investing a large amount of money in product development.
Rise in Road Safety Concerns is the Key Factor Driving the Automotive Electronic Parking Brake Market
The rise in road safety concerns is the key factor driving the automotive electronic parking brake market. Moreover, the growing penetration of autonomous vehicle technology is expected to boost the automotive electronic parking brake market. Furthermore, the lightweight and ease of operation of electronic parking breaks are further propelling the automotive electronic parking brake market. However, the higher cost of the system is the major factor hampering the growth of the automotive electronic parking brake market. Additionally, the growing demand for luxury vehicles is expected to provide opportunities for automotive electronic parking brake suppliers in the future.
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Automotive Electronic Parking Brake Market: Segmentation
The automotive electronic parking brake market is segmented by the type, vehicle type, and sales channel. The type of automotive electronic parking brake is categorized into an electric-hydraulic caliper system and cable-pull system. The cable-pull system segment among the type dominated the market. The vehicle type of the automotive electronic parking brake market includes passenger vehicle and commercial vehicle. Among the vehicle type, the passenger vehicles segment accounted for the largest market share owing to the high penetration rate and demand for electronic parking brakes, especially in luxury and premium class vehicles. The sales channel for automotive electronic parking brakes is further segmented into OEM and aftermarket. The OEM segment among the sales channel dominated the market owing to increasing demand from automakers.
Automotive Electronic Parking Brake Market in North America Generates the Highest Revenue
Region-wise, the automotive electronic parking brake market in North America generates the highest revenue. The automotive electronic parking brake market in this region holds a large amount of share of the global market. The domination of the North America region in the automotive electronic parking brake market attributes to the stable economic conditions, high per capita income, and low bank interest rates for a car purchase. Moreover, an increase in demand for passenger vehicles and light commercial vehicles is expected to boost the growth of the automotive electronic parking brake market in North America.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the automotive electronic parking brake.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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