Pune, India -- (SBWire) -- 01/22/2020 --A recent report published by Infinium Global Research on Automotive Electronic Parking Brake Market (Type - Electric-hydraulic Caliper System, and Cable-pull System; Vehicle Type - Passenger Vehicle, and Commercial Vehicle; Sales Channel - OEM, and Aftermarket): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. According to the report, the global automotive electronic parking brake market is projected to grow at a CAGR of 7.86% over the forecast period of 2019-2025.
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Automotive Electronic Parking Brake Market: Market Insight
The leading automakers have cars integrated with electronic parking brakes. 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 Growing Penetration of Autonomous Vehicle Technology is Expected to Boost the Industry
The rise in road safety concerns is the key factor driving the automotive electronic parking brake market. Moreover, the growing penetration of autonomous vehicle technology is expected to boost the automotive electronic parking brake market. 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.
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Automotive Electronic Parking Brake Market: Segmentation
The automotive electronic parking brake market is segmented by the type, vehicle type, and sales channel. The type of automotive electronic parking brake is categorized into an electric-hydraulic caliper system and cable-pull system. The cable-pull system segment among the type dominated the market. The vehicle type of the automotive electronic parking brake market includes passenger vehicles and commercial vehicles. Among the vehicle type, the passenger vehicle segment accounted for the largest market share owing to the high penetration rate and demand for electronic parking brakes, especially in luxury and premium class vehicles. The sales channel for automotive electronic parking brakes is further segmented into OEM and aftermarket. The OEM segment among the sales channel dominated the market owing to increasing demand from automakers.
Automotive Electronic Parking Brake Market: Regional Analysis
Region-wise, 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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The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The automotive electronic parking brake market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automotive electronic parking brake market.
