Electric Parking Brake Market, By Type (Electric-hydraulic Caliper Systems, and Cable-pull Systems), By Application (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Electric Parking Brake Market was valued at US$ 3.5 billion in 2024 and is projected to grow at a CAGR of 7.5% to reach US$ 6.8 billion by 2034.

In contemporary cars, the parking brake is electronically engaged and disengaged using an electric parking brake (EPB). An electric parking brake applies and releases the brake using an electric motor, as opposed to conventional handbrakes or foot-operated parking brakes, which engage the brake pads or shoes via mechanical cables or levers. The electronic control unit (ECU) of the braking system receives an electric signal from the driver when they engage the parking brake switch or button. The electric motor is then instructed by the ECU to engage the parking brake by applying brake shoes or pads to the brake drums or discs. Usually, the driver must depress the brake pedal and activate the parking brake switch at the same time in order to release the parking brake. After receiving the signal, the electric motor is told by the ECU to retract the brake shoes or pads, releasing the brake. Features of the electric parking brake include enhanced safety, automated engagement, space-saving design, convenience, and hill start assistance.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

 Electric Parking Brake Market Key Drivers:

 Increase in private automobile demand worldwide

There has been a significant increase in the demand for private as well as commercial automobile worldwide with better features and safety which is expected to drive  Electric Parking Brake Market Forward in coming years. When compared to commercial parking brakes, electric parking brakes have certain improved safety features. These features include electronic stability control (ESC) integration, automated brake hold, automatic hill start assist, emergency brake assist, and integration of the anti-lock braking system (ABS), all of which guarantee the safety of the driver and Passengers which is expected to increase the reliability and lead to automobile market expansion simultaneously Drive Electric Parking Brake Market Forward in study years.

Rise in disposable income and investments for Research and Development

Increase in disposable incomes in developed and developing nations has increased the purchasing ability of premium and high-end products within the population which is expected to drive Electric Parking Brake Market in coming years. Meanwhile, increasing investments in automobile sector to expand the research activities to develop more cheaper and reliable options can increase the sales in low-income regions which is estimated to propel the Electric Parking Brake Market in forecasted years.

 Electric Parking Brake Market Restrains:

High cost associated with maintenance and manufacturing of electric parking brake which can slow down the target market expansion in low-income region and simultaneously restrain the Electric Parking Brake Market in forecasted years. Electric brake may require specialized system to installed inside vehicle which can add up to overall cost and make it more expensive which can limit the sales.

 Electric Parking Brake Market is segmented based on Type, Application, and region.

Type Insight

• Electric-hydraulic Caliper Systems: Vehicle braking systems that employ a combination of electric and hydraulic mechanisms to operate the brake calipers are referred to as electro-hydraulic caliper systems, or electric-hydraulic caliper systems. These systems are frequently used in sophisticated braking systems, especially in fast cars and cars with regenerative braking systems.
• Cable-pull Systems: Systems for controlling brakes in a variety of applications, such as bicycles, motorcycles, cars, industrial machinery, and even some airplanes, are referred to as cable-pull systems or cable-operated brake systems. These devices use cables to transfer mechanical force from a lever or pedal to brake drums, pads, or calipers, which slows or stops the moving vehicle or piece of equipment.
• Application Insights
• Passenger Cars Passenger car electric parking systems, sometimes referred to as Electric Parking Brake (EPB) systems, are becoming more and more frequent in contemporary automobiles because of their practicality, compact form, and compatibility with cutting-edge automotive technology.
• Light Commercial Vehicles Light commercial vehicles' electric parking brakes (EPBs) work similarly to those of passenger cars, relying on an electronically controlled system to activate and disengage the brake.
• Heavy Commercial Vehicles Because of a number of variables pertaining to the size, weight, and use of the vehicle, the significance of electronic parking brakes (EPBs) in big commercial vehicles is different from that of small commercial vehicles and passenger cars.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

 Electric Parking Brake Market Regional Insights

• North America market is estimated to witness a significantly high revenue share over the forecast period, owing to facts such as growing number of high-end vehicle buyers in the region and increasing research activities to cap the cost of automobile sector with vision to serve better quality products.
• Asia Pacific market is estimated to witness fastest revenue share due to increasing population and increasing number of vehicles due to increasing buying abilities in low-income sub-regions. Rise in import of vehicles and industrial expansion in area the demand for automobile is set to increase in coming years.  
• Europe is expected to generate highest return on investments due to presence of  automobile players and availability of high-end feature loaded vehicle in lower prices. Increasing exports of automobile is expected to grow target market forward in forecasted years.
• Latin America is expected to grow with highest CAGR due to increasing industrialization in collaboration with Private and Government support to make automobile sector affordable and reliable which is expected to grow Electric Parking Brake Market in forecasted year.  
• Middle East & Africa is expected to record highest revenue during the forecast years due to high disposable income in Sub-regions such as UAE, Saudi Arabia and South Africa and increasing investment in region is expected to propel Electric Parking Brake Market in Forecasted years.  

Report Scope:

Attribute	Details
Market Size 2024	US$ 3.5 billion
Projected Market Size 2034	US$ 6.8 billion
CAGR Growth Rate	7.5%
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Type - Electric-hydraulic Caliper Systems, and Cable-pull Systems By Application - Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Electric Parking Brake Market report based on Type, Application and region:

 Electric Parking Brake Market, By Type:

• Electric-hydraulic Caliper Systems
• Cable-pull Systems

Electric Parking Brake Market, By Application:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

 Electric Parking Brake Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Electric Parking Brake Market includes, TRW Automobile Inc., KUSTER Company, Continental Automotive GmbH, DURA Automotive Company, AISIN Seiki Co., Mando Corporation, SKF AB, Hyundai Mobis, Wuhu Bethel, and Zhejiang Wanchao.

Recent Development:

• In November 2023, the pioneer of innovative braking technology, ADVICS, is introducing new EPB actuator kits to its lineup of brake system products. These kits mount to the vehicle's caliper and activate the parking brake automatically. These brand-new aftermarket EPB actuator kits are made in Japan and are original equipment manufacturer components. The kits include with installation hardware, which gives the technician the bolts and O-ring seals they need to finish the replacement.
• In March 2020, the innovative electronic parking brake system for electric and hybrid vehicles was introduced by ZF Friedrichshafen AG. When compared to conventional hydraulic parking brake systems, this revolutionary technology offers improved functionality and performance.

• Automobile Inc.*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• KUSTER Company
• Continental Automotive GmbH
• DURA Automotive Company
• AISIN Seiki Co.
• Mando Corporation
• SKF AB
• Hyundai Mobis
• Wuhu Bethel
•  Zhejiang Wanchao

“*” marked represents similar segmentation in other categories in the respective section

Research Objective and Assumption

• Preface
• Research Objectives
• Study Scope
• Years Considered for the study
• Assumptions
• Abbreviations

Research Methodology

• Research data
• Primary Data
  • Primary Interviews
  • Primary Breakdown
  • Key data from Primary Sources
  • Key Thickness Insights
• Secondary Data
  • Major Secondary Sources
  • Secondary Sources
• Market Estimation
• Top-Down Approach
  • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
• Bottom-Up Approach
  • Approach for estimating market share by Bottom-up Analysis (Demand Side)
• Market Breakdown and Data Triangulation
• Research Assumptions

Market Preview

• Executive Summary
• Key Findings—Global Outlook for medical carts Strategies
  • Key Questions this Study will Answer
  • Market Snippet, By Type
  • Market Snippet, By Application
  • Market Snippet, By Region
• Opportunity Map Analysis
• Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
  • Drivers
  • Restrains
  • Market Opportunities
  • Market Trends
• DR Impact Analysis
• PEST Analysis
• Porter’s Five Forces Analysis
• Opportunity Orbit
• Market Investment Feasibility Index
• Macroeconomic Factor Analysis

Market Segmentation, By Type, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Electric-hydraulic Calliper Systems
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Cable-pull Systems
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Passenger Cars
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Light Commercial Vehicles
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Heavy Commercial Vehicles
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • U.S.
    • Canada
• Europe
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • UK
    • France
    • Germany
    • Russia
    • Italy
    • Rest of Europe
• Asia Pacific
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Latin America
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years

 

• Brazil
• Mexico
• Rest of Latin America

 

• Middle East & Africa
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East

Competitive Landscape

• Heat Map Analysis
• Market Presence and Specificity Analysis

Company Profiles

• TRW Automobile Inc
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• KUSTER Company
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Continental Automotive GmbH
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• DURA Automotive Company
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• AISIN Seiki Co.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Mando Corporation
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• SKF AB
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Hyundai Mobis
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Wuhu Bethel
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Zhejiang Wanchao
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

The Last Word

• Future Impact
• About Us
• Contact