Electric Parking Brake System Market Scope
Electric parking brake system, an advanced version of conventional parking brake or handbrake. It is installed in an automotive to stop or holds the vehicle on the flat ground or hill roads. The electric parking brake consists of fewer components and compact in size, works in function with an electronic control unit (ECU), actuator among others to offer optimum brake power and efficient operation. Of late, manufacturers constantly strive to make every day driving easier for customers globally. Various manufacturers are replacing the usual lever-operated system with a more modern and less labour-intensive equivalent.
The market study is being classified by Type (Electric-Hydraulic Caliper System and Cable-Pull System), by Application (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles) and major geographies with country level break-up. According to AMA, the Global Electric Parking Brake System market is expected to see growth rate of 9.8%
Aisin Seiki Co. Ltd. (Japan), Continental AG (Germany), DURA Automotive Systems (United States), TBK Co. Ltd. (Japan), Hyundai Mobis Co., Ltd. (South Korea), Küster Holding GmbH (Germany), Mando-Hella Electronics Corp. (South Korea), AB SKF (Sweden), ZF Friedrichshafen AG (Germany) and Wuhu Bethel Automotive Safety Systems Co., Ltd. (China) are some of the key players profiled in the study.
AdvanceMarketAnalytics has segmented the market of Global Electric Parking Brake System market by Type, Application and Region.
On the basis of geography, the market of Electric Parking Brake System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Federal Motor Vehicle Safety Standard No. 105, Hydraulic and electric brake systems, sets forth minimum performance requirements for a vehicle's service and parking brake systems. Originally, the standard applied exclusively to passenger cars with hydraulic brake systems. Over the years, the agency has published several rulemaking actions on FMVSS No. 105
- Increasing Adoption of Automated Vehicle Technology
- An Upsurge in the Demand for Driver Assisted Systems
- Stringent Government Regulations Regarding Road Safety Globally
- Growing Demand for Fuel-Efficient Vehicles
- Increasing Production of Automobile Globally
- Growing Adoption of Electric Parking Brake in the Vehicles due to Reduced Weight and Ease of Convenience as Compared to Mechanically Operated Brakes
- Increasing Demand for Safety, Luxury, Convenience Increases the Demand for Electric Parking Brake
- High Development Cost of Electric Parking Brake System
- Lack of Skilled Technician Staff in Developing Nations
Key Target AudienceAutomotive Brake System Manufacturers, Component Suppliers, Electronic Brake Technology Providers, Automotive OEMs, Driver Assistance Systems Manufacturers and Others
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