Electric Parking Brake Market-Overview
The progress in the automobilesector is predicted to further the electric parking brake system market 2020. Theautomobile industry reports are produced by Market Research Future, whichhighlights market options for expansion. A 7% CAGR is estimated to bolster the marketin the approaching period.
The rising concerns for safetyand comfort in vehicles are predicted to push the electricparking brake system market share. The increased availability of interiorcabin space is projected to open up new possibilities for expansion in theelectric parking 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 is conducted based on sales channels, components, type,region, and vehicle type. On the basis of the types, the electric parking brakesystem market has been segmented into cable-pull system and electric-hydrauliccaliper system. Based on the sales channel, the electric parking brake system markethas been divided into OEM and aftermarket. Based on the component, the electricparking brake system market has been segmented as actuator, electronic controlunit (ECU), and switch. Based on the vehicle types, the electric parking brakesystem market has been segmented into light commercial vehicles, passenger cars,and heavy commercial vehicles. Based on the regions, the electric parking brakesystem market consists of Europe, North America, Asia-Pacific, and the rest ofthe regions.
Detailed RegionalAnalysis
The regional investigation of theelectric parking brake system market 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 inelectric parking brake system market 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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