Electric Parking Brake Market Growth Factor: Rising Prevalence of Passenger Cars and Light Commercial Vehicles

Electric Parking Brake Market Sales to Reach USD 9414.1 million by 2028

NEW YORK CITY, NEW YORK, UNITED STATES, May 25, 2022 /EINPresswire.com/ -- The growth will originate from North America for the "Electric Parking Brake Market Geographic, Financial Highlights Analysis till 2031" published by Market.us research company. The global Electric Parking Brake market size¹ is expected to grow from USD 5465.7 million in 2018 to USD 9414.1 million by 2028, at a achieve Compound Annual Growth Rate (CAGR) of 5.70% during the forecast period. This market research report comes with many aspects of the industry like the market size, market status, market trends and forecast (2022-2031), the report also provides brief information about the competitors and the specific growth opportunities with key market drivers.

Electric parking brakes use electricity to stop a car. They are usually operated by pushing a button on the dashboard. The electric brake system sends a current through the brake cables to stop the car. They offer a number of advantages over traditional parking brakes, including improved safety and fuel economy. Electric parking brakes work by using a small electric motor to apply the parking brake. This eliminates the need for cables and pulleys, which can wear out over time. Electric parking brakes are also much easier to use than traditional parking brakes. All you have to do is push a button to apply them.

Market.us also works closely with customers to better understand the technology, properties, market environment statistics, and help them develop innovative and commercialization strategies. A comprehensive document comprising details regarding important parameters like the trade scheme analysis, market segmentation, and also the seller matrix, the Electric Parking Brake market report additionally contains information on the crucial trade insights for core players. This report provides market insights and crucial market data, such as figures, technological and product advances, and analysis of key segments. The North America region contributed the largest market share in the year 2021. This growth can be attributed to the growing demand from various industries, such as Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles.

Get more information on market share in different regions by downloading the sample PDF report at MINUTES @ https://market.us/report/electric-parking-brake-market/request-sample/

Note: Market.us research teams are regularly tracking the direct effect of COVID-19 on the Electric Parking Brake market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Who is winning?

Top manufacturers of Electric Parking Brake market are acquired small players to expand their geographic reach. Moreover, TRW, KUSTER, Continental, DURA, AISIN, Mando, SKF, Hyundai Mobis, Wuhu Bethel, APG, Zhejiang Wanchao are focusing on new product developments and strategic partnerships with suppliers and distributors in various regions (Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.) across the globe to strengthen the market reach and drive the demand for effective Electric Parking Brake.

Electric Parking Brake Market Trends and Drivers:²

The market is primarily driven by the increasing applications of Electric Parking Brake across various end-use sectors. Technological advancement is a key trend gaining popularity in the Electric Parking Brake market. The top key companies are focusing on new technologies to lead this market. This will give the reader an edge over others as a well-informed decision can be made by looking at the holistic picture of the market. Some of the leading manufacturers included in the market are

TRW
KUSTER
Continental
DURA
AISIN
Mando
SKF
Hyundai Mobis
Wuhu Bethel
APG
Zhejiang Wanchao.

The main benefit of a market report 

The report provides market trends and future growth projections.

It provides extensive research on the changing competitive dynamics.

This report includes information about market trends, drivers, restrictions, opportunities and threats.

It gives a forecast (2022-2031), based on how the market is expected to grow.

This report arranged data about companies and business decisions through a thorough and comprehensive study of the markets. 

The delegate segments and sub-section of the Electric Parking Brake market are explained below:

The market can be segmented into Product Types as

Electric-hydraulic Caliper Systems
Cable-pull Systems

Major Applications/End users:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

The base of geography, the world market of Electric Parking Brake has been segmented as follows:

1. North America (the United States, Canada and Mexico)

2. Asia-Pacific (Japan, China, India, Australia etc)

3. Europe (Germany, UK, France etc)

4. Central and South America (Brazil, Argentina etc)

5. The Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa etc) 

And so much more.

Need more information on our reporting methodology? Click here: https://market.us/report/electric-parking-brake-market/#inquiry 

Study Objectives of Electric Parking Brake Market: 

- It provides the right study of changing competitive dynamics and keeps ahead of Electric Parking Brake competitors.

- It gives a forecast for the period (2022-2031) and evaluates the market based on how it is expected to grow.

- It provides future-looking perspectives on the various factors that drive or restrict Electric Parking Brake market expansion.

- It provides a better understanding and outlook on the key product segments.

- This report provides a detailed study to change the competitive dynamics of Electric Parking Brake. 

Why should purchase this report:

* Learn about the future and current status of the "Electric Parking Brake" Market in emerging and developed markets.

* This report helps to realign business strategies by highlighting keyword business priorities.

* This report reveals the market and the industry are expected to be the most dominant.

* The fastest growth is predicted for the regions.

* Get the latest news from the "Electric Parking Brake" industry, details about industry leaders, and their market share and strategies.

* The report provides valuable information about industry growth, size, top players, and segments.

Access the full study findings here: https://market.us/report/electric-parking-brake-market/ 

The questionnaire answered in the Electric Parking Brake Market report includes:

- What are the biggest challenges the global Electric Parking Brake markets will face in the near future?

- Which crucial factors are accountable for the robust growth of the global Electric Parking Brake market?

- How the market for Electric Parking Brake has grown?

- What are the present and future outlooks of the Electric Parking Brake³ on the basis of geographical regions?

- What is the Unique Selling Point (USP) of the market report?

- What is the Electric Parking Brake market size?

- Why are Electric Parking Brake so popular?

- Why the consumption of Electric Parking Brake highest in region?

- What are the estimated figures pertaining to the overall market in the coming few years? 

Check out more related studies, conducted by Market.us:

Global Electric Parking Brake Sales Market: https://market.us/report/electric-parking-brake-sales-market/

Global Electric Parking Brake System Market: https://market.us/report/electric-parking-brake-system-market/

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¹ https://market.us/report/electric-parking-brake-market/
² https://www.benzinga.com/press-releases/20/06/wr16241296/at-cagr-5-7-revenue-in-electric-parking-brake-market-surges-during-coivd-19-on-the-back-of-high-
³ https://www.taiwannews.com.tw/en/news/4374775