AutoTechInsight
Global Parking Brake Market and Technology Report
This report is available to view and download now as part of the Chassis Service
Chassis technology is responsible for a vehicle’s overall performance in terms of dynamics, safety, and fuel efficiency—in short, a key contributor to a vehicle’s competitive performance. Furthermore, through the use of advanced materials, it has a significant role to play in reducing carbon dioxide output.
The IHS Markit Chassis Service provides insight, context, data, and analytics for the key chassis components—braking, steering, suspension, and tires. Users can quickly access key insights from market developments, put context around events and technology trends, dive into deep data and forecasts, and seamlessly drive analytics to support their most challenging decisions.
About this report
Despite parking brakes not being the most “intriguing” component for creative innovations, automakers and suppliers have been relatively active throughout the years to push for new solutions in this field.
The parking brake (also called an emergency or hand brake) is typically found on the rear axle of the car, to reduce traction when braking and decrease stability issues when on slopes. The early vehicle brakes, such as those used in the first Mercedes in 1901 used mechanical drum brakes that comprised steel cables wrapped around the drums of the rear wheels and operated by a hand lever. Today, this system has developed to electrically actuated disc brakes
Increasing advanced driver assistance systems (ADAS) applications in a vehicle’s chassis systems are pushing players to delve further into electronic actuation of parking brakes. Advancement in parking brake technology has given birth to the EPB, which uses a switch on the instrument panel instead of the usual hand brake, making the conventional hand brake lever no longer necessary.
IHS Markit expects the global EPB market to expand rapidly, with demand volumes likely to jump almost twofold between 2018 and 2024, to more than 45 million. Europe will remain the key market for EPBs for the forecast period. Barring North America, where EPB market will be dominated by D-segment vehicles, the rest of the regional markets will see movement of EPB technology in smaller segment vehicles. Moreover, as the technology advances, higher functional reliability, lower costs, and adaptability to autonomous vehicles will lend more weight to choosing the EPB.
