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The global Automotive Parking Brake market size was valued at US$ 5.34 billion in 2024 and is projected to reach US$ 7.12 billion by 2030, at a CAGR of 4.9% during the forecast period 2024-2030.
The United States Automotive Parking Brake market size was valued at US$ 1.23 billion in 2024 and is projected to US$ 1.58 billion by 2030, at a CAGR of 4.3% during the forecast period 2024-2030.
Automotive Parking Brakes are safety mechanisms used to keep a vehicle stationary when parked, available in various types including manual hand brakes, foot-operated pedals, and electric parking brakes.
The global Automotive Parking Brake market is growing steadily, driven by increasing vehicle production and the rapid adoption of electric parking brake systems. In 2023, total production reached 95 million units, with passenger vehicles accounting for 85% of market value. The market saw a 30% increase in demand for electric parking brakes in 2023, particularly in premium and mid-range vehicles. Traditional mechanical parking brakes still hold a 55% market share, but electric parking brakes are growing rapidly at 10% annually. Europe leads with a 35% market share due to high adoption rates of advanced braking technologies, while Asia Pacific is the fastest-growing region at 5.5% CAGR. The industry is focusing on developing smart parking brake systems with auto-hold functions, with a 40% increase in R&D investments for systems that integrate with autonomous driving technologies.
Report Overview
Automotive parking brake is used to keep the vehicle stationary and in many cases also perform an emergency stop.
This report provides a deep insight into the global Automotive Parking Brake market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Automotive Parking Brake Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Automotive Parking Brake market in any manner.
Global Automotive Parking Brake Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Market Segmentation (by Type)
Market Segmentation (by Application)
Geographic Segmentation
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