The automotive park brake lever also referred to as the automotive handbrake or emergency brake, aids in stopping the car from moving once it has been parked. Automotive park brake levers (hand brakes) are a required part of any vehicle. There are two types of parking brake levers for automobiles: the conventional lever and the electronic parking brake (button type). Electronic automobile park brake levers are a luxury feature that offers greater storage space between the front center console of the vehicle. Conventional automotive park brake levers are highly established in the market. The need for automobile park brake levers (handbrakes) is anticipated to increase significantly in the upcoming years as a result of rising auto sales and fleet sizes.
Automotive Park Brake Lever (Handbrake) Market is anticipated to grow from a current value of US$ 480.2 million to US$ 722.6 million by 2032.
According to FMI, Automotive Park Brake Lever (Handbrake) Market is anticipated to expand at a CAGR of 10.1% from 2022 to 2032.
Automobile manufacturing and vehicle parc are directly associated with sales of park brake levers (handbrakes). Automotive Park Brake Lever (Handbrake) Market expansion is anticipated to be primarily driven by rising vehicle demand and subsequent rising automotive sales, particularly in developing nations. One of the key factors driving the demand for Automotive Park Brake Lever (Handbrake) around the world is the rapidly expanding electric vehicle market with anticipated declines in the manufacturing costs for all classes of electric vehicles.
Key Participants:
- AB SKF
- Ficosa International S.A
- Hitachi Automotive Systems, Ltd.
- Continental AG
- SKF Group
- ZF Friedrichshafen AG
- Aisin Seiki Co., Ltd.
