Electric Parking Brake Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Forecast

Market Overview

Market Research Future (MRFR), in its revised “Electric Parking Brake Market” report, simplified the intricate dynamics of the market. Ongoing trends and innovations, and the influence of key players are detailed in the report. MRFR findings reveals the electric parking brake global market to expand at 7% CAGR by 2023.

March 2020, Toyota Motor Corp, a Toyota-headquartered global automobile producer, introduced C-HR Koba hybrid. The electronic parking brake (EPB) is released automatically as start-button of the vehicle is pushed.  Mazda Motor Corp, a reputed Japan, global dealer of vehicles, launched Mazda CX-9 in Malaysia. EPB offers dynamic actuation and reduction in degradation of associated mechanical systems. Hence, these models are predicted to gain considerable traction. Consumers are not ready to compromise with safety.

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Segmental Outline

The electric parking brake system global market study is based on sales channel, type, vehicle type, and components. Segmental insights of electric parking brake system market can add value to investors’ research.

The type–based segments of the electric parking brake system market are cable-pull system and electric-hydraulic caliper system.

The sales channel-based segments of the electric parking brake system market are aftermarket and OEM. The availability of high number of OEMs can boost the expansion of the electric parking brake market.

The component-based segments of the electric parking brake system market are actuator, electronic control unit (ECU), and switch.

The vehicle type-based segments of the electric parking brake system market are light commercial vehicle, passenger car, and heavy commercial vehicle. Commercial vehicles with automatic electric parking vehicle can underpin the market.

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