The latest report on Automotive Electronic Parking Market by Infinium Global Research gives complete coverage of the Automotive Electronic Parking Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Automotive Electronic Parking such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Increase in Road Safety Concerns is the Key Factor Driving the Automotive Electronic Parking Brake Industry
Many of the car manufacturers today produce cars packed with electronic parking brakes. Car manufacturers including BMW AG, Daimler AG, Ford Motor Company, Hyundai Motor Company, Mitsubishi Motors Corporation, and others have electronic parking brakes integrated into their cars.
The electronic parking brakes market is consolidated in nature with few of the players in the market accounting for the large part of the market share. The key players in the market including ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., Continental AG, Robert Bosch GmbH, Toshiba Electronic Devices & Storage Corporation, and others are investing a large amount of money on product development.
The increase in road safety concerns is the key factor driving the automotive electronic parking brake market. The growing number of road incidents has made the manufacturers integrate safety features including electronic parking brake. Moreover, the growing penetration of autonomous vehicle technology is expected to boost the automotive electronic parking brake market.
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Lightweight and Ease of Operation of Electronic Parking Breaks are Further Propelling the Automotive Electronic Parking Brake Industry
Furthermore, the lightweight and ease of operation of electronic parking breaks are further propelling the automotive electronic parking brake market. However, the higher cost of the system is the major factor hampering the growth of the automotive electronic parking brake market. Additionally, the growing demand for luxury vehicles is expected to provide opportunities for the automotive electronic parking brake suppliers in the future.
In terms of region, the automotive electronic parking brake market in North-America generates the highest revenue. The automotive electronic parking brake market in this region holds a large amount of share of the global market. The domination of the North-America region in the automotive electronic parking brake market attributes to the stable economic conditions, high per capita income, and low bank interest rates for a car purchase. Moreover, an increase in demand for passenger vehicles and light commercial vehicles is expected to boost the growth of the automotive electronic parking brake market in North-America.
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- Comprehensive analysis of global as well as regional markets of the Automotive Electronic Parking.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.