Electric Park Brakes are used on traveler transportation to hold transport stationary on grades and flat roads. This was traditionally produced using a manual parking brake. In an Electric Parking Brake system, the driver activates the holding mechanism with a switch and the brake pads are then electrically applied to the rear brakes. There are two mechanisms used in the electric parking brake systems, one is cable puller systems and the other is caliper integrated systems.
Electric parking brake industry is projected to be US $ 5,465.7 Mn in 2018 to reach US $ 9,414.1 Mn by 2028 at a CAGR of 5.7%.
Top Players included in the report:
- Hyundai Mobis
- Wuhu Bethel
- Zhejiang Wanchao
- Electric-hydraulic Caliper Systems
- Cable-pull Systems
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Increasing adoption of automation technologies in vehicles and rising concern about road safety are expected to fuel growth of the target industry.
Integration of EPB in small cars is expected to help in increasing the reach of the product and Usage of EPB aids in weight reduction which leads to fuel saving; these factors expected to fuel growth of the target industry.
SOURCE LINK: HERE