Hand Brake Market: Global Industry Analysis and Forecast (2023-2029)

Hand Brake Market is expected to reach USD 29.16 billion by 2029, with a CAGR of 4.9 % between 2023 and 2029. A hand brake is a mechanical device that keeps a vehicle from moving. It might be a mechanical handbrake or a footbrake that's situated between the front two seats or to the left of the gas and brake pedals. The hand brake system is an entirely distinct mechanism from the standard braking system, and it primarily controls the back wheels. Hand brakes are operated only by cables and levers. Emergency brakes are another name for them. These are given this term because of their capacity to stop the car in an emergency circumstance, such as when the standard brake system fails completely. The hand brake cable is usually constructed of steel and is attached to the brake on the vehicle. The cable used in hand brake systems is usually composed of steel and connects to the wheel brake. Drum brakes are the most common type of brake utilized on wheels. In a car, the hand brake system is used to keep the vehicle stopped and safe. It's used to make a vehicle drift, notably in racing automobiles and off-road rally cars. When a car is hit while parked, a hand brake helps to keep it stable.Hand Brake MarketTo know about the Research Methodology :- Request Free Sample Report

Hand Brake Market Dynamics

The adoption of new technology in the automotive sector, as well as guaranteeing vehicle safety, are key aspects that will aid market growth throughout the forecast period. Several countries' governments have adopted strict car safety regulations. Furthermore, rising demand for passenger vehicles throughout the world, as well as research and development efforts in the hand brake industry, are key drivers driving the worldwide hand brake market during the forecast period. On the other hand, because there are so many rivals in the industry, the profit margin for current players is low, hampering the market's growth. Because the hand brake cable is constructed of steel, there is a risk of corrosion if it is not used consistently, which is a market barrier. The presence of local businesses that deliver the product at a lesser cost than established competitors who are not as durable and efficient has an impact on the market's growth throughout the forecast period.

Segmentation Analysis:

The Global Hand Brake Market is divided into two types: manual handbrake and electronic handbrake. A manual handbrake applies the back brakes using a physical cord, whereas an electronic handbrake applies the rear brakes with a switch that activates electric motors. Due to the enhanced characteristics of electronic handbrakes, the electronic handbrake segment is expected to grow at the fastest rate throughout the projected period.

Regional Insight:

Because of its substantial proportion of the car manufacturing industry, Asia Pacific leads the global hand brake market. Secondly, the high production of passenger cars in this region, as well as the quick growth of the automotive sector in countries like as South Korea, China, and India, is expected to fuel the global hand brake market in this area throughout the forecast period.

Hand Brake Market Report Objectives:

Landscape analysis of the Hand Brake Market competitive benchmarking Past and current status of the industry with the forecasted market size and trends Evaluation of potential key players that include market leaders, followers, and new entrants Technology trends The potential impact of micro-economic factors on the market External and Internal factors affecting the market have been analyzed The report also helps in understanding the Hand Brake Market dynamics, structure by analyzing the market segments project the Hand Brake Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Hand Brake Market make the report investor’s guide.

Hand Brake Market Scope: Inquiry Before Buying

Hand Brake Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 20.86 Bn.
Forecast Period 2022 to 2029 CAGR: 4.9% Market Size in 2029: US $ 29.16 Bn.
Segments Covered: by Type Manual Handbrake Electronic Handbrake
by Vehicle Type Light Vehicle Heavy Vehicle Passenger Vehicle
by Sales Channel OEMs Aftermarket

Hand Brake Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Hand Brake Market, Key Players are:

1. Continental Automotive 2. TRW Automotive 3. Powerstop 4. Hella Pagid GmbH 5. Hitachi Automotive Systems, Ltd. 6. DURA Automotive Systems 7. Breambo 8. Bendix 9. Wabtec Corporation 10. Cable-Tec 11. Orscheln Product 12. TMD Friction Group 13. Catton Control Cables 14. Anropa Cables (Pty) Ltd 15. Ficosa International S.A 16. SKF Group 17. Clydesdale Jone 18. ZF Friedrichshafen AG Frequently Asked Questions: 1. Which region has the largest share in Global Hand Brake Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Hand Brake Market? Ans: The Global Hand Brake Market is growing at a CAGR of 4.9% during forecasting period 2023-2029. 3. What is scope of the Global Hand Brake Market report? Ans: Global Hand Brake Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Hand Brake Market? Ans: The important key players in the Global Hand Brake Market are – Continental Automotive, TRW Automotive, Powerstop, Hella Pagid GmbH, Hitachi Automotive Systems, Ltd., DURA Automotive Systems, Breambo, Bendix, Wabtec Corporation, Cable-Tec, Orscheln Product, TMD Friction Group, Catton Control Cables, Anropa Cables (Pty) Ltd, Ficosa International S.A, SKF Group, Clydesdale Jone, and ZF Friedrichshafen AG 5. What is the study period of this Market? Ans: The Global Hand Brake Market is studied from 2022 to 2029.
1. Hand Brake Market: Research Methodology 2. Hand Brake Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Hand Brake Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Hand Brake Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Hand Brake Market Segmentation 4.1 Hand Brake Market, by Type (2022-2029) • Manual Handbrake • Electronic Handbrake 4.2 Hand Brake Market, by Vehicle Type (2022-2029) • Light Vehicle • Heavy Vehicle • Passenger Vehicle 4.3 Hand Brake Market, by Sales Channel (2022-2029) • OEMs • Aftermarket 5. North America Hand Brake Market (2022-2029) 5.1 North American Hand Brake Market, by Type (2022-2029) • Manual Handbrake • Electronic Handbrake 5.2 North America Hand Brake Market, by Vehicle Type (2022-2029) • Light Vehicle • Heavy Vehicle • Passenger Vehicle 5.3 North America Hand Brake Market, by Sales Channel (2022-2029) • OEMs • Aftermarket 5.4. North America Hand Brake Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Hand Brake Market (2022-2029) 6.1. European Hand Brake Market, by Type (2022-2029) 6.2. European Hand Brake Market, by Vehicle Type (2022-2029) 6.3 European Hand Brake Market, by Sales Channel (2022-2029) 6.4. European Hand Brake Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Hand Brake Market (2022-2029) 7.1. Asia Pacific Hand Brake Market, by Type (2022-2029) 7.2. Asia Pacific Hand Brake Market, by Vehicle Type (2022-2029) 7.3 Asia Pacific Hand Brake Market, by Sales Channel (2022-2029) 7.4. Asia Pacific Hand Brake Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Hand Brake Market (2022-2029) 8.1. Middle East and Africa Hand Brake Market, by Type (2022-2029) 8.2. Middle East and Africa Hand Brake Market, by Vehicle Type (2022-2029) 8.3 Middle East and Africa Hand Brake Market, by Sales Channel (2022-2029) 8.4. Middle East and Africa Hand Brake Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Hand Brake Market (2022-2029) 9.1. Latin America Hand Brake Market, by Type (2022-2029) 9.2. Latin America Hand Brake Market, by Vehicle Type (2022-2029) 9.3 Latin America Hand Brake Market, by Sales Channel (2022-2029) 9.4. Latin America Hand Brake Market, by Country (2022-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Hitachi Automotive Systems, Ltd. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Continental Automotive 10.3. TRW Automotive 10.4. Powerstop 10.6. Hella Pagid GmbH 10.7. Hitachi Automotive Systems, Ltd. 10.8. DURA Automotive Systems 10.9. Breambo 10.10. Bendix 10.11. Wabtec Corporation 10.12. Cable-Tec 10.13. Orscheln Product 10.14. TMD Friction Group 10.15. Catton Control Cables 10.16. Anropa Cables (Pty) Ltd 10.17. Ficosa International S.A 10.18. SKF Group 10.19. Clydesdale Jone 10.20. ZF Friedrichshafen AG
  • INQUIRE BEFORE BUYING