Electric Parking Brake Market Analysis, Trends, Opportunity, Market Size and Segment Forecasts 2020-2027

Electric Parking Brake Market Outlook – 2027

Automakers are constantly striving to make driving easier and more comfortable. As such, the adoption of electronic parking brake is increasing in vehicles. Electric parking brakes are used to hold the vehicle immobilized on roads. Moreover, electric brakes, which function on a button, is an alternative to conventional handbrake lever. When the button of electric parking brake is pressed or pulled, the motors press the pads onto the rear brakes. Additionally, the electric parking brake is accomplished of electronic control unit and actuator mechanism for its operation.  Besides, free up the space for storage in center console and are more reliable than conventional handbrakes.

Browse Full Report with TOC @

https://www.alliedmarketresearch.com/electric-parking-brake-market-A09730

Major player analyzed includes Hyundai Mobis, SKF Group, Aisin Seiki Co.Ltd., Akebono Brake Industry Co. Ltd., HitachiLtd., Toshiba Corporation, Brembo S.p.A., Robert Bosch GmbH, ZF Friedrichshafen AG, HELLA GmbH & Co. KGaA

 COVID-19 scenario analysis:

• Owing to economic uncertainties, the expansion of companies would freeze and investments would reduce. Further, with stoppage in revenue generation, the R&D activities of electric parking brake would face a major challenge.
• Besides, the recession caused due to the novel coronavirus pandemic would affect the sales of high-end vehicles.
• Moreover, the automakers are focusing to manufacture cheaper cars to survive during the pandemic. For instance, Nissan is manufacturing cheap e-cars.
• Electric parking brakes being widely used in high-end vehicles, the demand for it would witness a negative progression.

Get Sample Report with Industry Insights @

https://www.alliedmarketresearch.com/request-sample/10095

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Increasing preference of electric parking brakes over conventional parking brakes to increase the space for storage is driving the market growth. Additionally, consumers concern towards road safety is fueling the electric parking brake market. Besides, adoption of electric parking brakes offers weight reduction and saves fuel, which, in turn, increase its demand. Moreover, factors like lesser force required for its operation and high reliability associated with electric parking brake in fostering the market. However, higher cost of the system acts as a factor restraining market growth. Moreover, rising demand for luxury and premium class vehicle is proliferating the market growth.

The Electric Parking Brakemarkettrends are as follows:

Innovation to drive the market.

innovation allows organizations to stay relevant in the competitive market and also plays an important role in growth of the organization. Manufacturers of electric parking brake are constantly focusing on innovation. Moreover, the manufactures are trying to eliminate the major restraining factor of electric parking brake which its inability to equip in small cars due to its cost. In 2020, the ZF Friedrichshafen has launched industry first front electric park brake which can be equipped in smaller vehicle. In addition to the classic park brake function, the company has also launched auto-hold function and stop-and-go function which is useful in traffic.

To Get Discount, Make Purchase Inquiry @

https://www.alliedmarketresearch.com/purchase-enquiry/10095

Substandard electric parking brake to restrain market.

The failure of electric parking brakes has been highlighted a couple of times. With increasing number of cases of quality issues from renowned auto manufacturers, the doubt is created in minds of consumer while buying. Moreover, the cases of recalling of vehicles with issues hampers the market adversely. For instance, in 2016, Honda had recalled approximately 350,000 cars for electric parking brake issues. Besides, in 2017, Tesla had recalled 53,000 cars to fix the electric parking brake issues. Tesla claims that third-party suppliers could have manufactured improperly.

Key benefits of the report:

• This study presents the analytical depiction of the Electric Parking Brakeindustry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the Electric Parking Brakemarket growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.

Request for Customization of this Report @

https://www.alliedmarketresearch.com/request-for-customization/10095

Questions answered in the Electric Parking BrakeMarket research report:

• What are the leading market players active in the Electric Parking Brakemarket?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

Similar Reports We Have on Automotive Industry:

Autonomous Vehicle Market by Level of Automation (Level 3, Level 4, and Level 5) and Component (Hardware, Software, and Service) and Application (Civil, Robo Taxi, Self-driving Bus, Ride Share, Self-driving Truck, and Ride Hail) – Global Opportunity Analysis and Industry Forecast, 2019-2026

Automotive Wheel Market by Material type (Alloy, Steel, and Carbon Fiber), Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle), and End User (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2018 – 2025

Autonomous Emergency Braking System Market by Product Type (Low-speed AEBS and High-speed AEBS), Technology (Crash Imminent Braking, and Dynamic Brake Support), and Vehicle type (Passenger Vehicle and Commercial Vehicle) – Global Opportunity Analysis and Industry Forecast, 2017-2023

Automotive Steering System Market by Type (Hydraulic Power Steering, Electronic Power Steering, and Electro-Hydraulic Power Steering System) and Vehicle Type (Passenger Vehicle and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2018–2025

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Information:

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com