Global Automotive Park Brake Lever (Handbrake) Market By Lever Type (Pull-twist Handgrip Lever, Pull-press-button Hand-Lever, Pull-squeeze Pistol-grip Hand-lever, Pull-press-button Hand-lever and Push Button), Functionality Type (Conventional Automotive Park Brake Lever and Electric Automotive Park Brake Lever), Vehicle Type (Conventional Vehicles, Passenger Cars, Compact Cars, Mid-size cars, SUVs, Luxury Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles and Electric Vehicles), Sales Channel (Original Equipment Manufacturer (OEM), and Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Automotive Park Brake Lever (Handbrake) Market
Data Bridge Market Research analyses that the automotive park brake lever (handbrake) market would exhibit a CAGR of 4.50% for the forecast period. Rising application of automotive park brake lever (handbrake) for a wide range of vehicle types such as conventional vehicles, passenger cars, compact cars, mid-size cars, SUVs, luxury vehicles, light commercial vehicles, heavy commercial vehicles and electric vehicles, increased focus of the manufacturers towards technological innovations and up gradations and overall growth and expansion of automobile industry are the major factors attributable to the growth of automotive park brake lever (handbrake) market. This signifies that, the global automotive park brake lever (handbrake) market, which was USD 1,290.3 million in 2020, would stand tall by USD 1,834.93 million by the year 2028.
Automotive park brake lever or most commonly known as automotive hand break prevents the movement of vehicle once it is parked. It is an emergency brake that is applied to the vehicle to restrict its motion. Automotive park brake lever is one of the most necessary components in a vehicle.
Growth in the demand and production of passenger vehicles especially in the developed economies has resulted in growth in the market value. Growth and expansion of transportation industry will also create lucrative growth opportunities for the market. Increased focus towards the large scale availability of electric vehicles by the major players will also foster the market growth. Stringent regulations imposed by the government on vehicular emissions will further induce the manufacturers to focus on the production of electric vehicles and this will yet again carve the way for the growth of market.
However, rising incidences of faulty electric parking brake lever systems will pose a major challenge to the market growth rate. Also, fluctuations in the prices of raw materials will hamper the market growth rate.
This global automotive park brake lever (handbrake) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive park brake lever (handbrake)market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Park Brake Lever (Handbrake) Market Scope and Market Size
The global automotive park brake lever (handbrake) market is segmented on the basis of lever type, functionality type, vehicle type and sales channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of lever type, the automotive park brake lever (handbrake)market has been segmented into pull-twist handgrip lever, pull-press-button hand-lever, pull-squeeze pistol-grip hand-lever, pull-press-button hand-lever and push button.
- On the basis of functionality type, the automotive park brake lever (handbrake)market has been segmented into conventional automotive park brake lever and electric automotive park brake lever.
- On the basis of vehicle type, the automotive park brake lever (handbrake) market has been segmented into conventional vehicles, passenger cars, compact cars, mid-size cars, SUVs, luxury vehicles, light commercial vehicles, heavy commercial vehicles and electric vehicles.
- On the basis of sales channel, the automotive park brake lever (handbrake)market is segmented into original equipment manufacturer (OEM and aftermarket.
Global Automotive Park Brake Lever (Handbrake) Market Country Level Analysis
The global automotive park brake lever (handbrake) market is analysed and market size insights and trends are provided by country, lever type, functionality type, vehicle type and sales channel as referenced above.
The countries covered in the automotive park brake lever (handbrake) market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the automotive park brake lever (handbrake) market owing to the increasing adoption of advanced technologies by the automotive industry. Asia-Pacific region is set to witness unprecedented growth during the forecast period and will project the highest compound annual growth (CAGR) rate. This is because of the rising demand and production of passenger vehicles.
The country section of the automotive park brake lever (handbrake) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Park Brake Lever (Handbrake) Market Share Analysis
The automotive park brake lever (handbrake) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive park brake lever (handbrake) market.
The major players covered in the automotive park brake lever (handbrake) market report are SKF, Ficosa Internacional SA, Hitachi, Ltd., Continental AG, ZF Friedrichshafen AG, Robert Bosch GmbH, Eaton., BorgWarner Inc., AISIN CORPORATION, The AEVIT (Advanced Electronic Vehicle Interface Technology)., TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, KÜSTER Unternehmensgruppe, Brembo S.p.A., Allegro MicroSystems, Inc., HELLA GmbH & Co. KGaA, WABCO, City of Friedrichshafen, Panasonic Corporation, SANKEN ELECTRIC CO.,LTD. and DURA AUTOMOTIVE SYSTEMS. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
SKU-