Park Lock Actuator Market

A "Park Lock Actuator" is a device used to prevent a vehicle from being able to move out of park unless the brake is depressed. This is done by engaging a pin or locking mechanism that physically prevents the shifter from being moved out of the park. Park lock actuators are common in vehicles with automatic transmissions and are required by law in some jurisdictions.

While park lock actuators can be a useful safety feature, they can also be a source of frustration for drivers. If the park lock actuator fails, it can prevent the vehicle from being able to shift out of the park, even if the brake is depressed. This can make it difficult to get the vehicle moving again and may require a tow or other assistance.

An electronic parking lock actuator includes a driving motor configured to generate a driving force, an output mechanism including an emergency unlocking feature, and a reduction transmission mechanism connected between the driving motor and the output mechanism to transfer a driving force generated by the driving motor to the output mechanism.

The global park lock actuator market is expected to grow at a CAGR of XX% during the forecast period (2019–2031). The major factors driving the growth of the park lock actuator market include the increasing demand for vehicles with advanced safety features and the stringent government regulations regarding vehicle safety.

The key players in the park lock actuator industry are : Stoneridge, Inc., Dura Automotive, Vitesco Technologies, Efiautomotive, Oechsler,Ficosa,Schaeffler,Bitron.