Electronic Park Lock Actuator (EPLA) Market – Analysis by Size, Share, Growth & Forecast 2030 | UnivDatos

 

The global Electronic Park Lock Actuator Market is anticipated to reach USD 4.67 Billion by 2030, exhibiting a CAGR of 6.81%. A key driver behind this growth is the enforcement of government safety regulations to mitigate rollaway accidents, propelling the widespread adoption of electronic park locks. Evolving standards are compelling Original Equipment Manufacturers (OEMs) to shift away from traditional mechanical systems and integrate the latest electronic park lock technologies. Notably, the U.S. National Highway Traffic Safety Administration (NHTSA) has recently updated Federal Motor Vehicle Safety Standard 102, mandating secondary rollaway prevention systems in all new vehicles from 2022. This development directly stimulates the adoption of electronic parking locks to align with the revised requirements, with similar regulations anticipated in Europe and other regions. The market is further bolstered by the implementation of regulations and safety standards, particularly the formulation of new rules for electric and hybrid vehicles. These regulations necessitate the incorporation of advanced safety features, such as electronic park lock actuators, ensuring the safety and reliability of vehicles and instilling consumer confidence.

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Additionally, standards like UNECE R139 now impose stringent performance benchmarks for electronic park lock systems, encompassing cybersecurity, durability, and essential safety features. OEMs must undergo extensive testing and certification to demonstrate compliance, encouraging suppliers to deliver cutting-edge products.

Key market players, including Stoneridge Inc., Vitesco Technologies GmbH, OECHSLER AG, BorgWarner Inc., EFI Automotive, ZF Friedrichshafen AG, Valeo, Methode Sensor Technologies, Pegasus Actuators GmbH, and Johnson Electric Holdings Limited, have engaged in various mergers and partnerships to offer customers advanced and innovative products and technologies.

Insights from the report highlight that the ASIL B security level segment dominated the market in 2022, supported by its safety-critical standard acclaimed internationally, particularly in industries prioritizing safety. Among applications, the electric segment generated the highest revenue in 2022, driven by the convenience and ease associated with passenger vehicles. The Asia Pacific region led the market in 2022 and is expected to maintain this dominance, driven by factors such as sustainable transportation, urbanization, advancements in battery technology, government support, and increased investment. This has led to a substantial demand for electronic park lock actuators, aligning with stringent safety regulations in the region and the promotion of electric vehicles through incentives and subsidies.

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