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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 reach 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 ADVICS (Japan) Continental (Germany) Magna International (Canada) Aisin Seiki (Japan) Hyundai Mobis (Korea) Hitachi Automotive Systems (Japan) Mando (Korea) Brembo (Italy) F-TECH (Japan) LISI Group (France) Nissin Kogyo (Japan) DURA Automotive Systems (USA) SL (Korea) Fawer Automotive Parts (China) Zhejiang Asia-Pacific Mechanical & Electronic (China) erae Automotive Systems (Korea) Tata AutoComp Systems (India) LEAD (Japan) Al Ko Kober (Italy) Ficosa International (Spain) Market Segmentation (by Type) Drum Brake Type Disc Brake Type Market Segmentation (by Application) Passenger Cars Commercial Vehicles Geographic Segmentation North America (USA, Canada, Mexico) Europe (Germany, UK, France, Russia, Italy, Rest of Europe) Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific) South America (Brazil, Argentina, Columbia, Rest of South America) The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA) Key Benefits of This Market Research: Industry drivers, restraints, and opportunities covered in the study Neutral perspective on the market performance Recent industry trends and developments Competitive landscape & strategies of key players Potential & niche segments and regions exhibiting promising growth covered Historical, current, and projected market size, in terms of value In-depth analysis of the Automotive Parking Brake Market Overview of the regional outlook of the Automotive Parking Brake Market: Key Reasons to Buy this Report: Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change This enables you to anticipate market changes to remain ahead of your competitors You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly Provision of market value (USD Billion) data for each segment and sub-segment Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions Includes in-depth analysis of the market from various perspectives through Porter