Electric Parking Brake System Market Size, Trends, Analysis, and Outlook by Type (Electric-Hydraulic Caliper System, Cable-Pull System), Component (Electronic Control Unit (ECU), Actuator, Switch), Technology (Anti-Lock Braking System (ABS), Electronic St

Electric Parking Brake System Market Size, Trends, Analysis, and Outlook by Type (Electric-Hydraulic Caliper System, Cable-Pull System), Component (Electronic Control Unit (ECU), Actuator, Switch), Technology (Anti-Lock Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TCS), Electronic Brake-Force Distribution (EBD)), Brake (Disc Brake, Drum Brake), Application (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Sales Channel (OEMs, Aftermarket), by Country, Segment, and Companies, 2024-2030

The global Electric Parking Brake System market size is poised to register 13.55% growth from 2024 to 2030, presenting significant growth prospects for companies operating in the industry. The study analyzes the global Electric Parking Brake System market by Type (Electric-Hydraulic Caliper System, Cable-Pull System), Component (Electronic Control Unit (ECU), Actuator, Switch), Technology (Anti-Lock Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TCS), Electronic Brake-Force Distribution (EBD)), Brake (Disc Brake, Drum Brake), Application (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Sales Channel (OEMs, Aftermarket).

The Electric Parking Brake System Market is poised for significant evolution until 2030, driven by the increasing adoption of electric vehicles (EVs), and advancements in vehicle electrification technologies are expected to drive robust growth in the market for electric parking brake systems. As traditional mechanical parking brakes become less compatible with electric drivetrains, automakers are turning to electric parking brake systems for their efficiency, reliability, and integration capabilities. Secondly, advancements in electric brake-by-wire systems, motor technology, and electronic control units (ECUs) will contribute to the development of more sophisticated and intelligent electric parking brake systems, further accelerating market expansion. Further, changing consumer preferences toward convenience, safety, and comfort features in vehicles will drive demand for electric parking brake systems with integrated functionalities such as auto-hold, hill-start assist, and automated parking assistance. In addition, regulatory mandates aimed at improving vehicle safety and reducing emissions will create a conducive environment for market growth, fostering investment in electric parking brake system development and standardization. Furthermore, the integration of electric parking brake systems with vehicle-to-infrastructure communication networks and advanced driver assistance systems (ADAS) will enhance their functionality and effectiveness, driving adoption among automakers seeking to enhance vehicle performance, safety, and user experience. .

Electric Parking Brake System Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study discusses the latest trends and the most pressing challenges for industry players and investors. The Electric Parking Brake System market research analyses the global market trends, key drivers, challenges, and opportunities in the industry. In addition, the latest Future of Electric Parking Brake System survey report provides the market size outlook across types, applications, and other segments across the world and regions. It provides data-driven insights and actionable recommendations for companies in the Electric Parking Brake System industry.

Key market trends defining the global Electric Parking Brake System demand in 2024 and Beyond

The industry continues to remain an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play a major role.

Electric Parking Brake System Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Electric Parking Brake System industry comprises a wide range of segments and sub-segments. The rising demand for these product types and applications is supporting companies to increase their investment levels across niche segments. Accordingly, leading companies plan to generate a large share of their future revenue growth from expansion into these niche segments. The report presents the market size outlook across segments to support Electric Parking Brake System companies scaling up production in these sub-segments with a focus on expanding into emerging countries.

Key strategies adopted by companies within the Electric Parking Brake System industry

Leading Electric Parking Brake System companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Further, companies are leveraging advanced technologies to unlock opportunities and achieve operational excellence. The report provides key strategies opted for by the top 10 Electric Parking Brake System companies.

Electric Parking Brake System Market Study- Strategic Analysis Review

The Electric Parking Brake System market research report dives deep into the qualitative factors shaping the market, empowering you to make informed decisions-

• Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
• Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
• Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
• Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.

Electric Parking Brake System Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Electric Parking Brake System industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. Further, with actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three case scenarios- low case, reference case, and high case scenarios.

Electric Parking Brake System Country Analysis and Revenue Outlook to 2030

The report analyses 22 countries worldwide including the key driving forces and market size outlook from 2021 to 2030. In addition, region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America is included in the study. For each of the six regions, the market size outlook by segments is forecast for 2030.

North America Electric Parking Brake System Market Size Outlook- Companies plan for focused investments in a changing environment

The US continues to remain the market leader in North America, driven by a large consumer base, the presence of well-established providers, and a strong end-user industry demand. Leading companies focus on new product launches in the changing environment. The US economy is expected to grow in 2024 (around 2.2% growth in 2024), potentially driving demand for various Electric Parking Brake System market segments. Similarly, Strong end-user demand is encouraging Canadian Electric Parking Brake System companies to invest in niche segments. Further, as Mexico continues to strengthen its trade relations and invest in technological advancements, the Mexico Electric Parking Brake System market is expected to experience significant expansion, offering lucrative opportunities for both domestic and international stakeholders.

Europe Electric Parking Brake System Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Electric Parking Brake System industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of businesses in identifying and leveraging new growth prospects positions the European Electric Parking Brake System market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Electric Parking Brake System Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust healthcare expenditure, and increasing investments in healthcare infrastructure drive the demand for Electric Parking Brake System in Asia Pacific. In particular, China, India, and South East Asian Electric Parking Brake System markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational manufacturers seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major markets in the region.

Latin America Electric Parking Brake System Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Electric Parking Brake System Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Electric Parking Brake System market potential. Fueled by increasing consumption expenditure, growing population, and high demand across a few markets drives the demand for Electric Parking Brake System.

Electric Parking Brake System Market Company Profiles

The global Electric Parking Brake System market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are AB SKF, Aisin Seiki Co. Ltd, Continental AG, DURA Automotive Systems, Hyundai Mobis Co. Ltd, Küster Holding GmbH, Mando-Hella Electronics Corp, TBK Co. Ltd, Wuhu Bethel Automotive Safety Systems Co. Ltd, ZF Friedrichshafen AG.

Recent Electric Parking Brake System Market Developments

The global Electric Parking Brake System market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Electric Parking Brake System Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis

• Pricing Analysis
• Value Chain Analysis
• SWOT Profile
• Market Dynamics- Trends, Drivers, Challenges
• Porter’s Five Forces Analysis
• Macroeconomic Impact Analysis
• Case Scenarios- Low, Base, High

Market Segmentation:

Type

Electric-Hydraulic Caliper System

Cable-Pull System

Component

Electronic Control Unit (ECU)

Actuator

Switch

Technology

Anti-Lock Braking System (ABS)

Electronic Stability Control (ESC)

Traction Control System (TCS)

Electronic Brake-Force Distribution (EBD)

Brake

Disc Brake

Drum Brake

Application

Passenger Cars

Light Commercial Vehicles

Heavy Commercial Vehicles

Sales Channel

OEMs

Aftermarket

Geographical Segmentation:

• North America (3 markets)
• Europe (6 markets)
• Asia Pacific (6 markets)
• Latin America (3 markets)
• Middle East Africa (5 markets)

Companies

AB SKF

Aisin Seiki Co. Ltd

Continental AG

DURA Automotive Systems

Hyundai Mobis Co. Ltd

Küster Holding GmbH

Mando-Hella Electronics Corp

TBK Co. Ltd

Wuhu Bethel Automotive Safety Systems Co. Ltd

ZF Friedrichshafen AG.

Formats Available: Excel, PDF, and PPT