Hand Brake Market Manufacturers: Survey On Emerging Opportunities 2016 - 2024

A hand brake is a mechanical device that is used to keep the vehicle stationary. It may be a mechanical hand lever or foot operated brake located either between the front two seats or to the left of gas and brake pedal. It mainly have control over the rear wheels and the hand brake system is completely separate device from the regular braking system. Hand brakes only utilizes cables and levers to operate. These are also called as emergency brakes. The name is given to these because of their capability to stop the vehicle in emergency situation such as complete failure of regular braking system.

Increase in demand for safety in vehicles, stringent safety norms enacted by governments for vehicle safety, rise in demand for passenger vehicles across the globe, research & development in hand brake, and awareness regarding safety among drivers are major factors that are likely to drive the hand brake market for automotive during the forecast period.

However, development in the field of autonomous vehicles is likely to hamper the hand brake market for automotive in the near future. The restraint to the market is the corrosion of the cable. If the hand brake is not used regularly, the steel wire can get corrode and get stuck in place. This would create problems while applying hand brake.

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The hand brake market for automotive can be segmented based on hand brake type, vehicle type, sales channel, and region. Based on hand brake type, the hand brake market for automotive can be classified into two categories. The automatic hand brake has several advantages such as low cost, improved performance on steep inclines, compact size, emergency stop and start is possible, and reduction in manual interaction. Continuous development in the field of automatic hand brake is likely to drive the hand brake market for automotive during the forecast period.

Based on vehicle type, the hand brake market for automotive can be segregated into three categories. Demand for passenger vehicles has been increasing across the globe. Countries in North America and Europe are witnessing stable economic conditions, high percentage of urbanization, and increase in per capita income. These factors are anticipated to drive the passenger vehicle market across the globe.

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Based on sales channel, the hand brake market for automotive can be segmented into two types. The aftermarket segment is likely to dominate the hand brake market for automotive owing to the high number of major suppliers providing their services. Cost, quick service, and availability are also likely drive the aftermarket segment during the forecast period.

Based on region, the hand brake market for automotive can be segmented into five regional segments. Asia Pacific holds a major share of the global hand brake market for automotive in terms of supply and demand. In terms of revenue, Asia Pacific is anticipated to hold a major share of the global hand brake market for automotive during the forecast period, owing to the high production of passenger vehicles in the region. Rapid expansion of the auto industry in countries such as India, China, and South Korea is likely to drive the hand brake market for automotive in this region during the forecast period.https://www.transparencymarketresearch.com/hand-brake-for-automotive-market.html