Rockville, MD -- (SBWIRE) -- 05/13/2019 -- Electric parking brake system offers roomy space for vehicles vis-à-vis traditional handbrake system. Combining a control unit propels the intelligent functions, making vehicles more secure and convenient and averting the vehicle damage and danger caused by the negligence of drivers. The intelligent function of electric parking brake has made automated the modus operandi of parking brake.

The electronic parking brake has been used in BMW models since the E6X7 series models which first burst into the scene in 2002. Apart from being the first model to feature the new system, BMW was also the first production car globally to feature electronic parking system.

Though manual parking brakes can lock up the rear wheels and offer an easy way to initiate a slide for the vehicle if desired, it succumbs to electric parking brake. Given manual parking brakes require to have nearly the same tension on it for the brakes to evenly engage, the inapt adjustment may lead the car to roll backwards if parked on hill.

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The sheer absence of manual parking brake lever frees up space on the center console. Moreover, the weight reduction of the vehicle owing to the absence of mechanical hand brake parts has made electric parking brake very popular among stakeholders. In addition, with the sensors in the seat belt, electric parking brake has the capability of seamlessly applying brakes provided driver forgets when exiting the vehicle.

Rigorous government regulations, rise in the demand for driver assisted systems and demand for fuel efficient vehicles are slated to drive the growth of electric parking brake market. In addition, the advent of electric and hybrid vehicles are further anticipated to spurt the growth of the market. Having said that, soaring cost of electric parking brake is projected to impede the growth.

Electric Parking Brake Market: Overview

The report presents a coherent analysis on the electric parking brake market that is bolstered by quantitative and qualitative analysis. In addition, the report delineates the happenings in the market which have bearing on the growth of the electric parking brake market, comprising drivers, restraints, trends and opportunities. Further, the report also sheds light on segmentation to exhibit an exhaustive analysis of the Electric parking brake market.

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The report also delineates executive summary, overview section, which are aimed at revealing a thorough analysis of the electric parking brake market. Besides, the market overview section peruses into supply chain, cost structure and pricing analysis along with PESTLE analysis to present a thorough analysis on the electric parking brake market. Moreover, the overview section also sheds light on Porters' Five Force analysis which is known to help in assimilating competitive scenario with regards to electric parking brake market.

Primary sources and secondary sources have been used to provide a judicious and unbiased analysis on electric parking brake market. As such, the secondary research banks on EC filing, trade journals, resourceful database and Factiva. On the other hand, the report relies upon primary research, incorporating veracious and unbiased assessment from seasoned analyst, genuine analysis from pundits and surveys and telephonic interview. Furthermore, the report throws light on absolute dollar opportunity analysis and Y-o-Y projections to offer a thorough analysis of the market.

Electric Parking Brake Market: Competitive Landscape

The robust assessment of competitive landscape of the electric parking brake market heavily banks on Porters' Five Force Analysis. Furthermore, the Porters' Five Force Analysis delves into the strategies of the pertinent players in the electric parking brake market. Furthermore, the deep dive analysis of the key players and their business strategies are backed up by company profile, SWOT analysis, product portfolio and recent development, key differentiation, to name a few.

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