Navigating the Global Automotive Electronic Parking Brake Market Landscape: Trends, Forecasts, and Impact Analysis (2024 - 2031) covered in 136 Pages
The "Automotive Electronic Parking Brake Market" has experienced impressive growth in recent years, expanding its market presence and product offerings. Its focus on research and development contributes to its success in the market.
Automotive Electronic Parking Brake Market Overview and Report Coverage
An Automotive Electronic Parking Brake is an advanced braking system that automatically applies and releases the parking brake at the touch of a button, eliminating the need for a traditional handbrake lever. This innovative technology provides enhanced safety, convenience, and comfort for drivers.
The future outlook for the Automotive Electronic Parking Brake Market is promising, with a projected CAGR of % during the forecasted period (2024 - 2031). The market is expected to witness significant growth due to increasing demand for advanced safety features in vehicles, rising consumer preference for comfort and convenience, and the growing adoption of electric vehicles.
Current trends in the Automotive Electronic Parking Brake Market include the development of integrated electronic braking systems, technological advancements such as electronic stability control and autonomous parking features, and the increasing focus on lightweight and compact designs. Manufacturers are also investing in research and development to introduce more advanced and efficient parking brake systems.
Overall, the Automotive Electronic Parking Brake Market is poised for steady growth in the coming years, driven by evolving automotive technologies and changing consumer preferences. This market forecast indicates positive growth opportunities for industry players and suppliers in the automotive sector.
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Market Segmentation
The Automotive Electronic Parking Brake Market Analysis by Types is segmented into:
- FMVSS 105
- FMVSS 135
- ECE 13H
The Automotive Electronic Parking Brake Market is segmented based on regulations such as FMVSS 105, FMVSS 135, and ECE 13H. FMVSS 105 focuses on hydraulic and electric braking systems, while FMVSS 135 sets standards for passenger car brake systems, and ECE 13H sets regulations for electronic stability control systems. These regulations ensure that electronic parking brakes in vehicles meet safety and performance standards, providing consumers with reliable and efficient braking systems.
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The Automotive Electronic Parking Brake Market Industry Research by Application is segmented into:
- Passenger Cars
- Commercial Vehicles
The Automotive Electronic Parking Brake market serves the application needs of both passenger cars and commercial vehicles. Passenger cars employ electronic parking brakes for improved safety and convenience, while commercial vehicles utilize them for enhanced parking maneuverability and efficiency. The market caters to the demands of these two segments by providing advanced electronic parking brake systems that meet the specific requirements of each type of vehicle, ensuring optimal performance and functionality.
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In terms of Region, the Automotive Electronic Parking Brake Market available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The Automotive Electronic Parking Brake market in North America is driven by the increasing adoption of advanced safety features and the presence of key players like Continental and Bosch. In Europe, countries like Germany and France are witnessing growth due to strict safety regulations and advancements in technology by companies like Aisin Seiki and ZF TRW. The Asia-Pacific region, particularly China and Japan, is experiencing rapid growth with companies like ADVICS and Akebono leading the market. Latin America, including Mexico and Brazil, and the Middle East & Africa are also emerging markets with growing opportunities. Key factors driving growth in these regions include increasing vehicle production, rising safety concerns, and technological advancements by companies like DURA Automotive Systems and HYUNDAI MOBIS. SKF, Mando-Hella Electronics are some other key players contributing to the growth of the global market.
Automotive Electronic Parking Brake Market Emerging Trends
Emerging trends in the global automotive electronic parking brake market include the integration of advanced technologies such as autonomous parking systems, electric vehicle compatibility, and the incorporation of sensors for enhanced safety features. Current trends include the increasing demand for luxury vehicles equipped with electronic parking brakes, the growth of the electric vehicle market leading to higher adoption rates of electronic parking brakes, and the focus on reducing vehicle weight and improving fuel efficiency through the use of electronic parking brakes. Overall, the market is expected to witness rapid growth driven by technological advancements and increasing consumer preference for convenience and safety features.
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Major Market Players
- Continental
- Bosch
- Aisin Seiki
- ZF TRW
- ADVICS
- Akebono
- KUSTER Automotive Control Systems
- DURA Automotive Systems
- HYUNDAI MOBIS
- SKF
- Mando-Hella Electronics
The automotive electronic parking brake market is highly competitive with key players such as Continental, Bosch, Aisin Seiki, ZF TRW, ADVICS, Akebono, KUSTER Automotive Control Systems, DURA Automotive Systems, HYUNDAI MOBIS, SKF, and Mando-Hella Electronics.
Among these players, Continental is a leading player in the market with a strong presence in the global automotive industry. The company offers a wide range of electronic parking brake solutions for various vehicles, which has helped it to maintain a significant market share. Continental has shown consistent market growth and innovation in the development of electronic parking brake systems.
Bosch is another key player in the market with a focus on delivering high-quality electronic parking brake systems with advanced features. The company has a strong market presence and a wide distribution network, which helps it to cater to a global customer base. Bosch has been investing in research and development to introduce new technologies and improve its product offerings.
Aisin Seiki is also a significant player in the automotive electronic parking brake market, showcasing steady market growth and expanding its product portfolio to meet the evolving demands of customers. The company has a strong reputation for delivering reliable and efficient electronic parking brake systems.
In terms of market size, the global automotive electronic parking brake market was valued at USD billion in 2020 and is projected to reach USD 5.07 billion by 2027, growing at a CAGR of 5.8% during the forecast period.
In terms of sales revenue, Continental reported sales revenue of USD 44.53 billion in 2020, while Bosch reported sales revenue of USD 65.3 billion in the same year. Aisin Seiki reported sales revenue of USD 32.89 billion in 2020. These figures demonstrate the significant market presence and financial performance of these key players in the automotive electronic parking brake market.
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