Increase in Adoption of Electric Vehicles to Drive the Automotive Electric Parking Brake Market
Added: (Fri Mar 08 2019)
Pressbox (Press Release) -
Transparency Market Research in its new report titled, “Automotive Electric Parking Brake Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the automotive electric parking brake market. The TMR report anticipates that the consistent increase in adoption of electric vehicles will drive the automotive electric parking brake system market during the forecast period i.e, 2018-2026. Demand for luxury and premium class vehicles is significantly rising across North America and Europe owing to high per capita income, higher standard of living, and availability of well-developed infrastructure in these regions. This, in turn, is boosting the demand for electric parking brakes, says the report.
The TMR report has segregated the global automotive electric parking brakes market based on type, technology, vehicle type, sales channel, and geography. On the basis of type, the automotive parking brake market can be segregated into two segments. Caliper integrated electric parking brake systems are a more advanced version of the electric parking brake system, which apply the parking brakes through an electric motor and an ECU. The caliper integrated system segment is likely to witness rapid increase in demand during the forecast period. In terms of technology, the automotive electric parking brake market is divided into two segments. Luxury and premium class vehicles are being incorporated with automatic electric parking brake systems, which automatically apply brakes based on vehicle parameters such as door opening, seat belt usage, gas pedal force, engine running, and transmission position. Increased demand for premium and luxury class vehicles across North America and Europe is likely to offer lucrative opportunities for the automotive electric parking brake market.
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On the basis of sales channel, the automotive electric parking brake market is split into two segments. The OEM segment dominates the automotive electric parking brake market owing to ease of implementation and consumer preference. Installation of an electric parking brake system by the OEM is less expensive and much easier. Based on vehicle type, the automotive Electric parking brake market is classified into two segments. Passenger vehicles witnessed a significant demand for electric parking brakes, especially luxury and premium class vehicles. Vehicle owners prefer electric parking brakes, which are more reliable than mechanical parking brakes, due to higher vehicle safety. Therefore, the automotive Electric parking brake market is dominated by the passenger vehicle segment.
On a geographical stand, the automotive electric parking brake system market is classified into five prominent regions. North America and Europe dominate the global automotive electric parking brake market owing to enhanced awareness about the vehicle safety, increased preference for sophisticated electric system owing to higher per capita income, and significant demand for luxury and premium class vehicles in these regions. Some of the major players operating the global automotive electric parking brake market include ZF Friedrichshafen AG, Continental AG, SKF, Electronic Mobility Controls, KÜSTER Unternehmensgruppe, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Brembo S.p.A., Allegro MicroSystems, LLC, AISIN SEIKI Co., Ltd., MANDO-HELLA Electronics Corp., and WABCO.
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