Global Electric Parking Brake Market Size, Share, Forecast Report, 2020-2027

An electric parking brake is used in vehicles to stop or holds the vehicle on the flat ground or hill roads. The main advantage of using electronic parking brake is it has less components, compact in size and less weight as compare to traditional mechanical brake system. Electric parking brake uses electronic control unit (ECU), actuator mechanism and electric switch which ensures optimum brake power and efficient operation. Also, it is used in driver support functions such as hill start assist functions.

The factors that are responsible for the growth of electric parking brake market are stringent environment regulations regarding road safety, increasing adoption of automated vehicle technology and increasing demand for driver assisted systems, increasing demand for fuel efficient vehicles, and among others. The key driver which drives the growth of the market is increasing adoption of electric parking brake in the vehicles due to reduced weight and convenient as compare to other mechanically operated brakes which further improves the fuel economy and reduced emissions. The use of electronic control unit (ECU) allows integration of other electric components such as rear camera in the vehicle which further increases the growth of electric parking brake market. Increasing demand for safety, comfort, convenience increases the demand for electric parking brake industry. However, high cost of electric parking brake and lack of skilled technician staff hinders the growth of the market.

The electric parking brake system market is segmented based on type, sales channel, components, and vehicle type. On the basis of type the market has been segmented as electric-hydraulic caliper system, cable-pull system. On the basis of sales channel, the market has been segmented into OEM and aftermarket. On the basis of component the market has been segmented as electronic control unit (ECU), actuator, and switch. On the basis of vehicle type the market has been segmented as passenger car, light commercial vehicle and heavy commercial vehicle.

Segmentation Electric Parking Brake System Market:

On the basis of region, the market is segmented based on North America, Asia-Pacific, Europe, and Rest of the World. North America is expected to dominate the market in future due to increase in adoption of electric parking brake in the vehicles. Also, in Mexico there is increasing number of auto ancillary production companies which supplies automotive electric parking brake market. The increase in sales of vehicles in the US will result in the growth of electric parking brake market in future.
Key Players

The key players in electric parking brake system market are Aisin Seiki Co., Ltd. (Japan), Continental AG (Germany), DURA Automotive Systems (US), TBK Co., Ltd. (Tokyo), Hyundai Mobis Co., Ltd. (South Korea), Küster Holding GmbH (Germany), and Mando-Hella Electronics Corp. (South Korea), Svenska Kullagerfabriken AB (Sweden), ZF Friedrichshafen AG (Germany), Wuhu Bethel Automotive Safety Systems Co., Ltd (China), Zhejiang Wanchao Electric Appliance Co., Ltd. (China) are among others.