Automakers are constantly striving to make driving easier and more comfortable. As such, the adoption of electronic parking brake is increasing in vehicles. Electric parking brakes are used to hold the vehicle immobilized on roads. Moreover, electric brakes, which function on a button, is an alternative to conventional handbrake lever. When the button of electric parking brake is pressed or pulled, the motors press the pads onto the rear brakes. Additionally, the electric parking brake is accomplished of electronic control unit and actuator mechanism for its operation. Besides, free up the space for storage in center console and are more reliable than conventional handbrakes.

COVID-19 scenario analysis:

Owing to economic uncertainties, the expansion of companies would freeze and investments would reduce. Further, with stoppage in revenue generation, the R&D activities of electric parking brake would face a major challenge.

Besides, the recession caused due to the novel coronavirus pandemic would affect the sales of high-end vehicles.

Moreover, the automakers are focusing to manufacture cheaper cars to survive during the pandemic. For instance, Nissan is manufacturing cheap e-cars.

Electric parking brakes being widely used in high-end vehicles, the demand for it would witness a negative progression

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 : https://www.alliedmarketresearch.com/request-toc-and-sample/10095

The Electric Parking Brakemarkettrends are as follows:

Innovation to drive the market.

innovation allows organizations to stay relevant in the competitive market and also plays an important role in growth of the organization. Manufacturers of electric parking brake are constantly focusing on innovation. Moreover, the manufactures are trying to eliminate the major restraining factor of electric parking brake which its inability to equip in small cars due to its cost. In 2020, the ZF Friedrichshafen has launched industry first front electric park brake which can be equipped in smaller vehicle. In addition to the classic park brake function, the company has also launched auto-hold function and stop-and-go function which is useful in traffic.

Substandard electric parking brake to restrain market.

The failure of electric parking brakes has been highlighted a couple of times. With increasing number of cases of quality issues from renowned auto manufacturers, the doubt is created in minds of consumer while buying. Moreover, the cases of recalling of vehicles with issues hampers the market adversely. For instance, in 2016, Honda had recalled approximately 350,000 cars for electric parking brake issues. Besides, in 2017, Tesla had recalled 53,000 cars to fix the electric parking brake issues. Tesla claims that third-party suppliers could have manufactured improperly.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/10095

Key benefits of the report:

This study presents the analytical depiction of the Electric Parking Brakeindustry along with the current trends and future estimations to determine the imminent investment pockets.

The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.

The current market is quantitatively analyzed to highlight the Electric Parking Brakemarket growth scenario.

Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.

The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.

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