Electric Parking Brake Market Size is Valued at USD 12.00 Billion in 2023 and is Projected to Reach USD 25.31 Billion by 2032, Growing at a CAGR of 9.77% From 2024-2032.
The electric parking brake market is rapidly expanding worldwide due to progresses in car technology and growing interest from consumers in safety enhancements. Electric parking brakes provide various benefits compared to traditional mechanical parking brakes, such as increased convenience, improved safety, and decreased wear on brake parts. With the increasing adoption of electric parking brakes by car manufacturers, it is anticipated that the market will grow further in the upcoming years.
Key Prominent Players In The Electric Parking Brake Market:
- ZF (Germany)
- Continental (Germany)
- Chassis Brakes International (Belgium)
- Küster (Germany)
- Aisin (Japan)
- Mando (South Korea)
- Hyundai Mobis (South Korea)
- Zhejiang Libang Hexin (China)
- Wuhu Bethel Automotive (China)
- Others
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Global Electric Parking Brake Market Segmentation:
By Type
- Caliper Integrated EPB
- Cable Puller EPB
By Application
- Sedans
- SUVs
- Others
Geographic Segment Covered in the Report:
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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This study conducts a SWOT analysis to evaluate the strengths and weaknesses of key players in the Electric Parking Brake market. Additionally, the report performs a complex inspection of drivers and restraints operating in the market. The report also evaluates the observed trends in the parent market along with macroeconomic indicators, dominant factors and market attractiveness in relation to other segments. The report forecasts the impact of various industry aspects on the Electric Parking Brake market segments and regions.
The report offers varied descriptions about the segmentation of the market on the basis of the segmented global Powder Eyeshadows market and leads with a descriptive structure of the trends and restrictions of the various segments and sub-segments. It also provides the market size and estimates a forecast from the year 2024 to 2032. The report delivers information about the market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
Electric Parking Brake Market Regional Insights:
North America is projected to lead the market during the forecast period.
The EPB market in North America is steadily expanding due to several factors. The major trends that could influence the region are the strong automotive industry, advancements in technology, and consumers’ desire for convenience and safety features in cars. The market for EPBs in North America is highly competitive, with a mix of seasoned companies and new entrants providing top-notch products.
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