According to Cognitive Market Research, the global Park by Wire market size will be USD 22514.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 9005.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 6754.35 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 5178.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1125.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 450.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The Electric-hydraulic Caliper Systems category is the fastest growing segment of the Park by Wire industry
