Global Automotive Park Brake Lever (Handbrake) Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

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.

By Functionality;

Conventional Automotive Park Brake Lever and Electric Automotive Park Brake Lever.

By Sales Channel;

Original Equipment Manufacturer (OEM) and Aftermarket.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn588724991 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Park Brake Lever (Handbrake) Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Park Brake Lever (Handbrake) Market was valued at USD 544.90 million. The size of this market is expected to increase to USD 1,075.45 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 10.2%.

The global automotive park brake lever market, also commonly referred to as the handbrake market, plays a crucial role in the automotive industry's safety and functionality. This market segment encompasses the production and distribution of handbrake systems utilized in various vehicles, including cars, trucks, and SUVs. As an essential component of a vehicle's braking system, the park brake lever serves as a supplementary safety mechanism, particularly when the vehicle is parked on inclines or during emergency situations.

Technological advancements and innovations have significantly influenced the automotive park brake lever market. Manufacturers are increasingly focusing on developing electronic parking brake systems, which offer enhanced reliability, convenience, and integration with other vehicle systems. These electronic park brake systems often replace traditional hand-operated levers with buttons or switches, providing drivers with greater ease of use and automating certain aspects of the braking process. Additionally, the growing demand for electric and hybrid vehicles has spurred the adoption of electronic parking brakes, contributing to the market's evolution.

The automotive park brake lever market is also witnessing trends driven by stringent safety regulations and consumer preferences for enhanced vehicle safety features. Governments worldwide are implementing regulations aimed at improving vehicle safety standards, prompting automakers and brake system manufacturers to invest in research and development activities to meet these requirements. Moreover, rising consumer awareness regarding vehicle safety has led to a surge in demand for advanced braking technologies, including electronic park brake systems, further shaping the dynamics of the global market.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Lever Type
    2. Market Snapshot, By Functionality
    3. Market Snapshot, By Sales Channel
    4. Market Snapshot, By Region
  4. Global Automotive Park Brake Lever (Handbrake) Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological Advancements
        2. Increasing Vehicle Production
        3. Consumer Preferences
        4. Integration with Electronic Systems
      2. Restraints
        1. Regulatory Compliance
        2. Limited Adoption
        3. Technical Challenges
        4. Competitive Landscape
      3. Opportunities
        1. Autonomous Driving Trends
        2. Emerging Markets
        3. Innovative Designs
        4. Sustainable Materials
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Park Brake Lever (Handbrake) Market, By Lever Type, 2020 - 2030 (USD Million)
      1. Pull Twist Handgrip Lever
      2. Pull Press Button Hand Lever
      3. Pull Squeeze Pistol Grip Hand Lever
      4. Pull Press Button Hand Lever
      5. Push Button
    2. Global Automotive Park Brake Lever (Handbrake) Market, By Functionality, 2020 - 2030 (USD Million)
      1. Conventional Automotive Park Brake Lever
      2. Electric Automotive Park Brake Lever
    3. Global Automotive Park Brake Lever (Handbrake) Market, By Sales Channel, 2020 - 2030 (USD Million)
      1. Original Equipment Manufacturer (OEM)
      2. Aftermarket
    4. Global Automotive Park Brake Lever (Handbrake) Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Continental AG
      2. AB SKF
      3. Aisin Seiki Co
      4. Ficosa International
      5. ZF Friedrichshafen AG
      6. Hitachi Automotive Systems
      7. SKF Group
  7. Analyst Views
  8. Future Outlook of the Market