Global Hand Brake Market- Forecast and Analysis (2020-2027)
Global Hand Brake Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 3.5% from 2019 to 2027, reaching nearly US$ XX Bn.
Global Hand Brake Market
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The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Hand Brake Market: Market Overview
The braking system is the most important part of the automotive vehicle which reduces the speed and stops the vehicle completely. The hand brake is also known as the parking brake or emergency brake, it utilizes cables and levers to stop the vehicle in emergency like failure of regular braking system. The hand brake is attached with the disk or drum to wheel to keep the vehicle in stationary position.
Global Hand Brake Market: Market Dynamics
The adoption of new technologies in the automotive industry and ensuring vehicle safety are the major factors that help the market growth during the forecast period. The stringent safety norms are enacted by government of several nations for vehicle safety. In addition, increasing demand of passenger vehicles across the world, research and development activities in hand brake are the major factors which helps to drive the global hand brake market during the forecast period.
On the other hand, there are many competitors present in the market, so the profit margin is low for the existing player which hamper the growth of the market. The hand brake cable is made of steel so the fear of corrosion if it is not in use continuously, also a factor which hinder the market. Presence of local players which provides the product at lower cost compared to existing players which are not durable and not efficient also affect the growth of the market during the forecast period.
Global Hand Brake Market: Market Segmentation
The Global Hand Brake Market can be segmented by Type, by Vehicle type, by Sales Channel, and by region.
Based on Type, the Global Hand Brake Market is segmented into manual handbrake and electronic handbrake. A manual handbrake uses a physical cable to apply the rear brake shoes, on other side electronic handbrake uses a switch to activate electric motors to apply the rear brakes. As electronic handbrake uses advanced features, the electronic handbrake segment is subjected to the highest CAGR during the forecast period. Based on Vehicle type, the market is segmented into Light Vehicle, Heavy Vehicle, and Passenger Vehicle. The rise in the passenger vehicle is expected to witness the growth of the global handbrake market during the forecast period. Based on the Sales Channel, the global hand brake is segmented into OEMs and Aftermarket. The aftermarket segment is dominating the global hand brake market owing to the high number of major suppliers providing their services.
Global Hand Brake Market: Regional Analysis
The regional analysis of the worldwide Global Hand Brake Market is segregated across North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia Pacific dominates the Global Hand Brake Market due to large number of shares of the manufacturing of automotive. Besides, the high production of passenger vehicles in this region and rapid expansion of automotive industry in countries like South Korea, China, and India is likely to drive the global hand brake market in this region during the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Hand Brake Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Hand Brake Market dynamics, structure by analyzing the market segments and projects the Global Hand Brake Market size. Clear representation of competitive analysis of key players by Sales Channel, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Hand Brake Market make the report investor’s guide.
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Global Hand Brake Market, by Type
• Manual Handbrake
• Electronic Handbrake
Global Hand Brake Market, by Vehicle type
• Light Vehicle
• Heavy Vehicle
• Passenger Vehicle
Global Hand Brake Market, by Sales Channel
• OEMs
• Aftermarket
Global Hand Brake Market, by Region
• Asia Pacific
China
India
Japan
South Korea
Australia
Indonesia
Malaysia
Vietnam
Rest of Asia
• North America
U.S.
Canada
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Mexico
Rest of South America
• Middle East & Africa
GCC
South Africa
Rest of MEA
Global Hand Brake Market, Key Players
• Continental Automotive
• TRW Automotive
• Powerstop
• Hella Pagid GmbH
• Hitachi Automotive Systems, Ltd.
• DURA Automotive Systems
• Breambo
• Bendix
• Wabtec Corporation
• Cable-Tec
• Orscheln Product
• TMD Friction Group
• Catton Control Cables
• Anropa Cables (Pty) Ltd
• Ficosa International S.A
• SKF Group
• Clydesdale Jone
• ZF Friedrichshafen AG
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