Electric Parking Brake Market-Overview
The progress in the automobilesector is predicted to further the electricparking brake system market size. The automobile industry reports areproduced by Market Research Future, which highlights market options forexpansion. A 7% CAGR is estimated to bolster the market in the approachingperiod.
The rising concerns for safetyand comfort in vehicles are predicted to push the electric parking brake systemmarket share. The increased availability of interior cabin space is projectedto open up new possibilities for expansion in the electricparking brake systems market in the global market. Furthermore, thenecessity to reduce CO2 emissions is anticipated to transform the electricparking brake system market in the upcoming forecast period.
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Segmental Analysis
The segmental assessment of the electricparking brake system market growth is conducted based on sales channels,components, type, region, and vehicle type. On the basis of the types, the electricparking brake system market has been segmented into cable-pull system andelectric-hydraulic caliper system. Based on the sales channel, the electricparking brake system market has been divided into OEM and aftermarket. Based onthe component, the electric parking brake system market has been segmented asactuator, electronic control unit (ECU), and switch. Based on the vehicle types,the electric parking brake system market has been segmented into lightcommercial vehicles, passenger cars, and heavy commercial vehicles. Based onthe regions, the electric parking brake system market consists of Europe, NorthAmerica, Asia-Pacific, and the rest of the regions.
Detailed RegionalAnalysis
The regional investigation of theelectricparking brake system market trend encompasses North America, Asia-Pacific,Europe, and the rest of the regions. The regional market in North America is anticipatedto govern the electric parking brake system market in the future due to augmentationin the implementation of electric parking brakes in the vehicles. Furthermore,in Mexico, there are a growing number of auto ancillary production firms thatsupply the automotive electric parking brake market. The amplification in salesof vehicles in the US will lead to the development of the electric parkingbrake market in the forecast period.
Competitive Analysis
The establishment of robustdistribution channels is estimated to define the development of the market inthe future. The investment in robotic elements in the supply chain is estimatedto be seen in the future to reduce the impact of the human capital on the longterm market expansion. The state of the market is extremely indecisive due tothe effect of the macro factors operating in the global economy. The road tothe resurgence of the market is estimated to be extensive and arduous due tothe degree of the setbacks it has suffered. The prospects for growth in themarket have to be carefully sought out and examined to ensure that they willensure the favorable development of the market in the coming period. Thecompetitors present in the market are recalibrating their market share to openup new areas of development in the market. The stress on enhancing theproduction potential and upgradation of the workforce are the top priorities toreinvigorate the development potential of the market in the coming period.
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The significant players in electricparking brake system market share are Continental AG (Germany), TBK Co.,Ltd. (Tokyo), DURA Automotive Systems (US), Svenska Kullagerfabriken AB(Sweden), ZF Friedrichshafen AG (Germany), Hyundai Mobis Co., Ltd. (SouthKorea), Wuhu Bethel Automotive Safety Systems Co., Ltd (China), Mando-HellaElectronics Corp. (South Korea), Aisin Seiki Co., Ltd. (Japan), Küster HoldingGmbH (Germany), Zhejiang Wanchao Electric Appliance Co., Ltd. (China) are amongothers.
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