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Electric Parking Brake Market Revenue Growth Predicted by 2029

 The electric parking brake (EPB) market is a rapidly growing segment of the automotive industry, driven by increasing demand for advanced safety and convenience features in vehicles. EPBs use electric motors instead of traditional mechanical systems to engage and disengage the brake, providing several benefits over traditional systems.

One of the major advantages of EPBs is their ability to automatically engage the brake when the vehicle is parked, improving safety by preventing the vehicle from rolling away. EPBs also improve convenience by eliminating the need for manual engagement of the parking brake, and can be integrated with other advanced driver assistance systems (ADAS) such as hill hold control and automatic emergency braking.

The market for EPBs is driven by several factors, including increasing consumer demand for advanced safety and convenience features in vehicles, and government regulations mandating the use of advanced braking systems in vehicles. Additionally, the increasing adoption of electric vehicles (EVs) is also expected to drive market growth, as EPBs are well-suited for use in EVs due to their low power consumption and lack of mechanical components.

For More Info@ https://www.persistencemarketresearch.com/market-research/electric-parking-brake-market.asp

The market for EPBs is segmented by vehicle type, with passenger cars and light commercial vehicles being the largest segments. In terms of geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is expected to be the largest market for EPBs, driven by the increasing demand for advanced safety and convenience features in vehicles in countries such as China and India.

Key players in the market include Bosch, Continental, Aisin Seiki, and Mando Corporation. These companies are investing heavily in research and development to develop advanced EPB systems and expand their market share.

Overall, the market for electric parking brake is expected to witness a substantial growth in the forecast period due to increasing demand for advanced safety and convenience features in vehicles, and government regulations mandating the use of advanced braking systems in vehicles.

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