(MENAFN- Ameliorate Digital Consultancy)
The automatic parking brake market is a growing industry that specializes in developing and producing advanced braking systems for vehicles. These automatic parking brakes are designed to provide greater convenience and safety to drivers, particularly in urban areas or congested parking lots. The market is driven by the increasing demand for advanced safety features in vehicles, as well as the growing popularity of automated driving systems.
To remain 'ahead' of your competitors, request for a samples @
One of the key drivers of growth in the Automatic Parking Brake Market is the increasing demand for advanced safety features that can prevent accidents and reduce the risk of injury. As the number of vehicles on the road increases, there is a greater need for advanced braking systems that can help drivers avoid collisions or reduce the severity of an accident. Automatic parking brakes are particularly useful in urban areas, where parking spaces are often tight and maneuvering a vehicle can be challenging.
The global electric parking brake market was valued at ~ US$ 830 Million in 2014, and is expected to exceed US$ 1.2 Billion by the end of 2019, and CAGR of ~ 12% between 2019 and 2029, and is estimated to reach a global value of ~ US$ 4.2 Billion by the end of 2029.
Another trend that is driving growth in the Automatic Parking Brake Market is the increasing popularity of automated driving systems, such as lane departure warning systems, adaptive cruise control, and self-parking features. These systems rely on advanced sensors and algorithms to detect obstacles and adjust the vehicle's speed and trajectory accordingly. Automatic parking brakes are a natural complement to these systems, as they can automatically engage the brakes if the vehicle detects an obstacle or a potential collision.
Electric Parking Brake Market Players Focus on Enhanced Fuel Economy
By product type, the global electric parking brake market is segmented into cable-pull systems and electric-hydraulic caliper systems. The electric parking brake market is expected to be prominent in the electric-hydraulic caliper system owing to the safer and more comfortable driving experience and enhanced safety of driver and vehicles. The cable-pull system is forecasted to have less share as compared to the electric-hydraulic caliper system.
Moreover, manufacturers of electric parking brakes are focusing on significant weight saving brake systems as compared to conventional parking brake systems, which supports enhanced fuel economy and reduced carbon emissions. The aforementioned factor is expected to increase the sales of electric parking brakes over the forecast period.
By vehicle type, the electric parking brake market is segmented into passenger vehicles, LCVs, and HCVs. The passenger vehicle segment is sub-segmented into compact vehicles, mid-sized vehicles, luxury vehicles, and SUVs. The luxury vehicles segment is expected to be prominent in the global electric parking brake market.
By sales channel, the global electric parking brake market is segmented into OEM and aftermarket. The OEM segment is projected to be prominent throughout the forecast period.
By region, the electric parking brake market report studies markets across several regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. In these regions, East Asia and Europe are expected to grow with a predominant share in the global electric parking brake market over the forecast period. However, East Asia and Latin America are also representing healthy growth in the electric parking brake market.
For critical insights on this market, request for customization here @
Electric Parking Brakes Market: Key Participants
For an in-depth analysis, PMR has divided the market structure in two levels: tier 1 and tier 2. Tier 1 players are estimated to account for a ~ 55% share in the global market and generate ~ US$ 680 Mn revenue through the sales of electric parking brakes across the world.
The global electric parking brake market is fragmented, owing to the presence of several manufacturers of electric parking brakes across the globe. Prominent players in the global electric parking brake market are focusing on the development of braking business, adopting business expansions, collaborations, and acquisition strategies to capture significant share of the global market.
In April 2019 , Continental AG developed the brake system namely MK C1 electrohydraulic brake-by-wire, which reduced CO2 emission by around 5 g/km on average as compared to a conventional non-brake-by-wire hybrid brake system. In March 2018 , Aisin Seiki Co., Ltd. became a shareholder in Toyota Motor Corporation's new company, Toyota Research Institute-Advanced Development, Inc. (TRI-AD), to develop autonomous technologies consisting of vehicle controllers responsible for acceleration, braking, and steering based on artificial intelligence. In June 2018 , Akebono Brake Industry Co., Ltd. developed new construction brake caliper based on the construction of AD-Type disc brake (floating type disc brake) that has been modified extensively to meet specific requirements for automobiles that use electric power sources.
Some of the key players involved in the manufacturing of the global electric parking brakes are Continental AG, Hyundai Mobis, SKF Group, Aisin Seiki Co., Ltd., Akebono Brake Industry Co., Ltd., Hitachi, Ltd., Brembo S.p.A., Robert Bosch GmbH, Sanken Electric Co., Ltd., ZF Friedrichshafen AG, Shougang Group Co., Ltd., Toshiba Corporation, ELLA GmbH & Co. KGaA, and DURA Automotive Systems.
Buy Full Report Now @
For More Related Reports –
About us: –
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
Contact Us:
Persistence market research
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales –
Comments
No comment