Electric Parking Brake System Market is expected to experience significant growth from 2023 to 2030 |  ZF TRW, Continental, Küster

PRESS RELEASE
Published October 17, 2023

The Electric Parking Brake System Market report is latest report published by Infinity Business Insights which provides comprehensive information, overview of the demands and describe Impact of Covid-19 and Russia Ukraine War on the market during the forecast period 2023–2030.

The electric parking brake system market has gained significant traction in the automotive industry, driven by the transition from traditional handbrakes to electronically controlled systems. These systems offer enhanced safety, convenience, and vehicle design flexibility. Key market features include compatibility with various vehicle types, improved hill-start assist, automatic brake hold, and advanced parking assistance capabilities. Electric parking brake systems are finding extensive applications in passenger cars, light commercial vehicles, and even electric vehicles, reflecting a shift toward advanced electronic control mechanisms in modern vehicles.

The Global Electric Parking Brake System Market is expected to grow at a CAGR of 5.4% during the forecast period, 2023-2030.

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Recent developments in the electric parking brake system market underscore the continuous evolution of these systems. Manufacturers are focusing on integrating advanced features like automatic brake hold, which enhances driver convenience, especially in stop-and-go traffic. Moreover, there is an increasing trend toward incorporating electric parking brakes in electric and hybrid vehicles, capitalizing on their compatibility with electric drivetrains and regenerative braking capabilities. Enhanced safety features such as automatic release during an accident and adaptive control systems are also being introduced, making electric parking brakes even more appealing to automakers and consumers.

Leading players of Electric Parking Brake System Market including

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

Total Market by Segment:

Market split by Type, can be divided into:

Caliper Integrated EPB

Cable Puller EPB

Market split by Application, can be divided into:

Sedans

SUVs

Others

Electric Parking Brake System Market Opportunities

Opportunities in the electric parking brake system market are substantial, with potential for further innovation. As safety regulations continue to evolve globally, the demand for advanced safety features like electric parking brakes is likely to rise. Electric vehicle adoption, particularly in urban areas, creates a significant market for these systems. Additionally, manufacturers can explore opportunities for aftermarket sales and retrofits as consumers increasingly seek to upgrade their existing vehicles with advanced safety and convenience features.

Market segment by Region/Country including:

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).

The electric parking brake system market exhibits varying regional dynamics influenced by automotive industry trends and consumer preferences. North America, with a mature automotive sector and a penchant for advanced features, presents a significant market. Europe, known for stringent safety regulations and a focus on high-end vehicles, also contributes to market growth. In the Asia-Pacific region, rapid urbanization, increasing vehicle sales, and growing awareness of safety features are driving demand for electric parking brake systems. Emerging markets in Latin America, the Middle East, and Africa are experiencing gradual adoption as consumer preferences evolve and safety regulations tighten.

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Electric Parking Brake System Market Research Methodology

Research on the electric parking brake system market entails a combination of primary and secondary data collection methods. Primary research involves interviews with industry experts, automotive manufacturers, and consumers to gain insights into market trends and consumer preferences. Secondary research encompasses the analysis of market reports, industry publications, and data from reputable sources. Qualitative and quantitative research techniques are employed to provide a comprehensive understanding of market trends, forecasts, and competitive landscapes.

5 Reasons to buy this report:-

  1. Vehicle Compatibility: Ensure that the electric parking brake system is compatible with your vehicle type, whether it’s a passenger car, SUV, or light commercial vehicle.
  2. Safety Features: Look for advanced safety features such as automatic brake hold, hill-start assist, and adaptive control systems to enhance safety and convenience.
  3. Electric Vehicle Integration: If you own an electric or hybrid vehicle, consider systems that are designed to work seamlessly with electric drivetrains and regenerative braking.
  4. Installation and Retrofitting: Explore options for installation, retrofitting, and aftermarket availability, especially if you’re looking to upgrade an existing vehicle.
  5. Quality and Warranty: Invest in systems from reputable manufacturers with a track record of quality and consider the warranty terms and after-sales support for peace of mind.

Browse Complete Summary and Table of Content @

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Table of Contents – Major Key Points

Chapter 1: Introduction

Chapter 2: Market Dynamics

Chapter 3: Research Methodology

Chapter 4: Impact Analysis

Chapter 5: Value Chain Analysis

Chapter 6: Porter’s 5 Forces Model

Chapter 7: PEST Analysis

Chapter 8: Electric Parking Brake System Market Segmentation, By Types

Chapter 9: Electric Parking Brake System Market Segmentation, By Application

Chapter 10: Regional Analysis

Chapter 11: Company Profiles

Chapter 12: Competitive Landscape

Chapter 13: Conclusion.

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