Automotive Electronic Parking Brake Market

Report Highlights

Automotive Electronic Parking Brake Market Size And Forecast

Automotive Electronic Parking Brake Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2019 to 2026.

Global Automotive Electronic Parking Brake Market Outlook

Growing sales of automotive are driving the growth of the market. The emergence of electric vehicles and autonomous vehicles is set to provide an opportunity for the market. Growing penetration of vehicles with greater electronic content and consumers' preference for safe, stable, and comfortable vehicle is favoring the demand pace. Besides this automobile manufacturer is prioritizing weight reduction of braking systems to reduce the overall weight of the vehicle, manufacturers are constantly striving to make driving easier for their customers, and an example of this is the electronic brake. Many manufacturers are replacing the usual lever-operated system with a more modern and less labor-intensive equivalent in their car models which is significantly to contribute revenue growth during the forecast period. However, when it falls it can be expensive to repair which restrain the growth of such a system.