[250 Pages Report] The global automotive park brake lever (handbrake) market size is expected to reach US$ 480.2 Million in 2022 and US$ 722.6 Million in 2032. Increasing sales and production of both passenger cars and commercial vehicles are anticipated to augment sales of automotive park brake lever (handbrake) in the upcoming years.
As per FMI, the automotive park brake lever (handbrake) market is likely to exhibit growth at a CAGR of 10.1% in the forecast period from 2022 to 2032. Rising investment by government bodies in the development of electric vehicles is set to contribute to the market growth.
Report Attribute | Details |
---|---|
Automotive Park Brake Lever (Handbrake) Market Estimated Base Year Value (2021) | US$ 451.7 Million |
Automotive Park Brake Lever (Handbrake) Market Expected Market Value (2022) | US$ 480.2 Million |
Automotive Park Brake Lever (Handbrake) Market Anticipated Forecast Value (2032) | US$ 722.6 Million |
Automotive Park Brake Lever (Handbrake) Market Projected Growth Rate (2022-2032) | 10.1% CAGR |
Automotive park brake lever, which is commonly known as emergency brake or handbrake, is considered to be a crucial component in vehicles. It helps in preventing the vehicle from moving at once while being parked at a specific spot.
It can be a footbrake or a mechanical handbrake that is located to the left of the brake and gas pedals or between the two front seats. Unlike the standard braking system, the hand brake system usually controls the back wheels and thus has a distinct mechanism.
Increasing adoption of new technologies in the automotive industry is projected to bolster the demand for automotive park brake lever (handbrake) in future years. Governments of various countries are expected to implement strict norms to compel people to adopt car safety regulations.
The ability of automotive park brakes to stop a vehicle in an emergency situation, such as when the vehicle’s standard brake system completely fails, is set to aid growth. In addition, increasing usage of handbrakes in off-road rally cars and racing automobiles to make them drift is another vital factor that is projected to spur growth.
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The increasing inclination of vehicle owners towards electric brakes from conventional ones is a crucial factor that is anticipated to drive the global automotive park brake lever (handbrake) market growth in future. Electric handbrakes provide numerous features, such as crashworthiness of new automobiles, interior styling, and space management.
Moreover, electric brakes help in facilitating the reduction of vehicle weight, as well as power consumption. New-age automobile manufacturers are thus focusing more on the development of novel electric handbrakes to attract more customers. The urgent need to reduce a vehicle’s weight by using cutting-edge materials in its components is also set to fuel growth.
Parts of an electronic handbrake usually have a low operating life expectancy, as compared to mechanical parts. These handbrakes also cannot work without the presence of a proper-functioning battery. If the battery does not operate, it can cause inconvenience for drivers. Spurred by the aforementioned factors, the demand for automotive park brake lever (handbrake) may decline in the assessment period.
The ongoing installation of electric handbrakes in vehicles manufactured by various brands, such as Suzuki and Dacia is anticipated to accelerate the Asia Pacific automotive park brake lever (handbrake) market share. Key manufacturers across China, India, South Korea, and Japan are focusing on diversifying their business operations to fetch high revenues and strengthen their positions in Asia Pacific.
Further, implementation of strict norms by regulatory bodies to mandate the manufacturing of safer automobiles is likely to aid the regional market. In May 2022, for instance, Tata Motors unveiled its latest Nexon EV MAX to expand its electric vehicle range in India. Instead of a handbrake, the vehicle includes an electronic parking brake switch. Thus, the launch of similar automobiles with unique features, including electric handbrake is expected to spur the Asia Pacific market.
Increasing production of passenger cars in the U.S. and Canada is set to augment sales of automotive park brake lever (handbrake) across North America. According to the U.S. Department of Transportation, nearly 3,402 passenger cars were sold in the country in 2020 and out of these, about 290 were imported from Japan, while 235 were imported from Germany. These numbers are expected to surge rapidly, thereby propelling the North America market.
Besides, increasing competition among key players in the automotive sector and rising installation of electronic components per vehicle are likely to boost the market. Aftermarkets and OEMs based in North America are also set to invest huge sums in the development of state-of-the-art designs of electric handbrakes to meet the requirements of the autonomous vehicle sector.
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Some of the leading companies present in the global automotive park brake lever (handbrake) market include Continental AG, AB SKF, Aisin Seiki Co., Ltd., Ficosa International S.A, ZF Friedrichshafen AG, Hitachi Automotive Systems, Ltd., and SKF Group among others.
Major players operating in the market are increasingly investing huge sums in the development of advanced technologies. They are also relying on new product development to cater to the high consumer demand for cost-efficiency and brakes made of durable materials. Meanwhile, some of the other key players are engaging in the development of fully electric brake systems to reduce the overall weight of the vehicle.
Report Attribute | Details |
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Growth Rate | CAGR of 10.1% from 2022 to 2032 |
Base Year for Estimation | 2021 |
Historical Data | 2015-2020 |
Forecast Period | 2022-2032 |
Quantitative Units | Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
Segments Covered |
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Regions Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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Customization | Available Upon Request |
The global automotive park brake lever (handbrake) market is projected to reach US$ 722.6 Million in 2032.
Asia Pacific is set to lead the automotive park brake lever (handbrake) market in the forecast period.
Continental AG, AB SKF, Aisin Seiki Co., Ltd., Ficosa International S.A, ZF Friedrichshafen AG, Hitachi Automotive Systems, Ltd., and SKF Group are some of the renowned companies in the automotive park brake lever (handbrake) market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Lever Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Lever Type, 2017-2021 5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Lever Type, 2022-2032 5.3.1. Pull-twist Handgrip Lever 5.3.2. Pull-press-button Hand-Lever 5.3.3. Pull-squeeze Pistol-grip Hand-lever 5.3.4. Push Button 5.4. Y-o-Y Growth Trend Analysis By Lever Type, 2017-2021 5.5. Absolute $ Opportunity Analysis By Lever Type, 2022-2032 6. Global Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Functionality Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Functionality Type, 2017-2021 6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Functionality Type, 2022-2032 6.3.1. Conventional Automotive Park Brake Lever 6.3.2. Electric Automotive Park Brake Lever 6.4. Y-o-Y Growth Trend Analysis By Functionality Type, 2017-2021 6.5. Absolute $ Opportunity Analysis By Functionality Type, 2022-2032 7. Global Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Vehicle Type 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Vehicle Type, 2017-2021 7.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Vehicle Type, 2022-2032 7.3.1. Conventional Vehicles 7.3.2. Passenger Car 7.3.3. Compact Cars 7.3.4. Mid-size Cars 7.3.5. SUVs 7.3.6. Luxury Vehicles 7.3.7. Light Commercial Vehicles 7.3.8. Heavy Commercial Vehicles 7.3.9. Electric Vehicles 7.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2017-2021 7.5. Absolute $ Opportunity Analysis By Vehicle Type, 2022-2032 8. Global Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Sales Channel 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Sales Channel, 2017-2021 8.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Sales Channel, 2022-2032 8.3.1. OEM 8.3.2. Aftermarket 8.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2017-2021 8.5. Absolute $ Opportunity Analysis By Sales Channel, 2022-2032 9. Global Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Region 9.1. Introduction 9.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021 9.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032 9.3.1. North America 9.3.2. Latin America 9.3.3. Europe 9.3.4. East Asia 9.3.5. South Asia & Pacific 9.3.6. MEA 9.4. Market Attractiveness Analysis By Region 10. North America Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Country 10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 10.2.1. By Country 10.2.1.1. U.S. 10.2.1.2. Canada 10.2.2. By Lever Type 10.2.3. By Functionality Type 10.2.4. By Vehicle Type 10.2.5. By Sales Channel 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Lever Type 10.3.3. By Functionality Type 10.3.4. By Vehicle Type 10.3.5. By Sales Channel 10.4. Key Takeaways 11. Latin America Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. Mexico 11.2.1.2. Brazil 11.2.1.3. Rest of Latin America 11.2.2. By Lever Type 11.2.3. By Functionality Type 11.2.4. By Vehicle Type 11.2.5. By Sales Channel 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Lever Type 11.3.3. By Functionality Type 11.3.4. By Vehicle Type 11.3.5. By Sales Channel 11.4. Key Takeaways 12. Europe Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. Germany 12.2.1.2. Italy 12.2.1.3. France 12.2.1.4. U.K. 12.2.1.5. Spain 12.2.1.6. BENELUX 12.2.1.7. Russia 12.2.1.8. Rest of Europe 12.2.2. By Lever Type 12.2.3. By Functionality Type 12.2.4. By Vehicle Type 12.2.5. By Sales Channel 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Lever Type 12.3.3. By Functionality Type 12.3.4. By Vehicle Type 12.3.5. By Sales Channel 12.4. Key Takeaways 13. East Asia Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Country 13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Lever Type 13.2.3. By Functionality Type 13.2.4. By Vehicle Type 13.2.5. By Sales Channel 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Lever Type 13.3.3. By Functionality Type 13.3.4. By Vehicle Type 13.3.5. By Sales Channel 13.4. Key Takeaways 14. South Asia & Pacific Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Country 14.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 14.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 14.2.1. By Country 14.2.1.1. India 14.2.1.2. ASEAN 14.2.1.3. Australia and New Zealand 14.2.1.4. Rest of South Asia & Pacific 14.2.2. By Lever Type 14.2.3. By Functionality Type 14.2.4. By Vehicle Type 14.2.5. By Sales Channel 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Lever Type 14.3.3. By Functionality Type 14.3.4. By Vehicle Type 14.3.5. By Sales Channel 14.4. Key Takeaways 15. MEA Automotive Park Brake Lever (Handbrake) Market Analysis 2017-2021 and Forecast 2022-2032, By Country 15.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 15.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. Turkey 15.2.1.3. South Africa 15.2.1.4. Rest of MEA 15.2.2. By Lever Type 15.2.3. By Functionality Type 15.2.4. By Vehicle Type 15.2.5. By Sales Channel 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Lever Type 15.3.3. By Functionality Type 15.3.4. By Vehicle Type 15.3.5. By Sales Channel 15.4. Key Takeaways 16. Key Countries Automotive Park Brake Lever (Handbrake) Market Analysis 16.1. U.S. 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2021 16.1.2.1. By Lever Type 16.1.2.2. By Functionality Type 16.1.2.3. By Vehicle Type 16.1.2.4. By Sales Channel 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2021 16.2.2.1. By Lever Type 16.2.2.2. By Functionality Type 16.2.2.3. By Vehicle Type 16.2.2.4. By Sales Channel 16.3. Mexico 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2021 16.3.2.1. By Lever Type 16.3.2.2. By Functionality Type 16.3.2.3. By Vehicle Type 16.3.2.4. By Sales Channel 16.4. Brazil 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2021 16.4.2.1. By Lever Type 16.4.2.2. By Functionality Type 16.4.2.3. By Vehicle Type 16.4.2.4. By Sales Channel 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2021 16.5.2.1. By Lever Type 16.5.2.2. By Functionality Type 16.5.2.3. By Vehicle Type 16.5.2.4. By Sales Channel 16.6. Italy 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2021 16.6.2.1. By Lever Type 16.6.2.2. By Functionality Type 16.6.2.3. By Vehicle Type 16.6.2.4. By Sales Channel 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2021 16.7.2.1. By Lever Type 16.7.2.2. By Functionality Type 16.7.2.3. By Vehicle Type 16.7.2.4. By Sales Channel 16.8. U.K. 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2021 16.8.2.1. By Lever Type 16.8.2.2. By Functionality Type 16.8.2.3. By Vehicle Type 16.8.2.4. By Sales Channel 16.9. Spain 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2021 16.9.2.1. By Lever Type 16.9.2.2. By Functionality Type 16.9.2.3. By Vehicle Type 16.9.2.4. By Sales Channel 16.10. BENELUX 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2021 16.10.2.1. By Lever Type 16.10.2.2. By Functionality Type 16.10.2.3. By Vehicle Type 16.10.2.4. By Sales Channel 16.11. Russia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2021 16.11.2.1. By Lever Type 16.11.2.2. By Functionality Type 16.11.2.3. By Vehicle Type 16.11.2.4. By Sales Channel 16.12. China 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2021 16.12.2.1. By Lever Type 16.12.2.2. By Functionality Type 16.12.2.3. By Vehicle Type 16.12.2.4. By Sales Channel 16.13. Japan 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2021 16.13.2.1. By Lever Type 16.13.2.2. By Functionality Type 16.13.2.3. By Vehicle Type 16.13.2.4. By Sales Channel 16.14. South Korea 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2021 16.14.2.1. By Lever Type 16.14.2.2. By Functionality Type 16.14.2.3. By Vehicle Type 16.14.2.4. By Sales Channel 16.15. India 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2021 16.15.2.1. By Lever Type 16.15.2.2. By Functionality Type 16.15.2.3. By Vehicle Type 16.15.2.4. By Sales Channel 16.16. ASEAN 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2021 16.16.2.1. By Lever Type 16.16.2.2. By Functionality Type 16.16.2.3. By Vehicle Type 16.16.2.4. By Sales Channel 16.17. Australia and New Zealand 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2021 16.17.2.1. By Lever Type 16.17.2.2. By Functionality Type 16.17.2.3. By Vehicle Type 16.17.2.4. By Sales Channel 16.18. GCC Countries 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2021 16.18.2.1. By Lever Type 16.18.2.2. By Functionality Type 16.18.2.3. By Vehicle Type 16.18.2.4. By Sales Channel 16.19. Turkey 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2021 16.19.2.1. By Lever Type 16.19.2.2. By Functionality Type 16.19.2.3. By Vehicle Type 16.19.2.4. By Sales Channel 16.20. South Africa 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2021 16.20.2.1. By Lever Type 16.20.2.2. By Functionality Type 16.20.2.3. By Vehicle Type 16.20.2.4. By Sales Channel 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Lever Type 17.3.3. By Functionality Type 17.3.4. By Vehicle Type 17.3.5. By Sales Channel 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. AB SKF 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.1.5.2. Product Strategy 18.1.1.5.3. Channel Strategy 18.1.2. Ficosa International S.A 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.2.5.2. Product Strategy 18.1.2.5.3. Channel Strategy 18.1.3. Hitachi Automotive Systems, Ltd. 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.3.5.2. Product Strategy 18.1.3.5.3. Channel Strategy 18.1.4. Continental AG 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.4.5.2. Product Strategy 18.1.4.5.3. Channel Strategy 18.1.5. ZF Friedrichshafen AG 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.5.5.2. Product Strategy 18.1.5.5.3. Channel Strategy 18.1.6. Aisin Seiki Co., Ltd. 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.6.5.2. Product Strategy 18.1.6.5.3. Channel Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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