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Report
Electric Parking Brake (EPB) Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
Market Reprt I 2024-12-09 I 150 Pages I Global Market Insights
The Global Electric Parking Brake (EPB) Market reached USD 3 billion in 2024 and is projected to expand at an impressive CAGR of 16.8% from 2025 to 2034. This growth is largely driven by the increasing consumer demand for advanced vehicle safety features. EPBs enhance vehicle safety by offering better control, especially on slopes, while providing added convenience with features such as automatic hold and emergency braking functions.
Stricter safety regulations and the rising need for more advanced braking systems in the automotive industry are further accelerating market expansion. As car manufacturers increasingly adopt cutting-edge technologies, electric parking brakes are becoming a standard feature in modern vehicles. Additionally, EPBs contribute to vehicle efficiency and weight reduction by replacing traditional mechanical components, leading to lighter and more compact brake systems. This weight reduction improves fuel efficiency and overall vehicle performance, aligning with automakers' goals of enhancing fuel economy and reducing emissions.
The market is divided into two primary segments: passenger vehicles and commercial vehicles. In 2024, passenger vehicles are expected to account for more than 80% of the market share. This dominance is fueled by the growing adoption of advanced safety and convenience features in cars, where EPBs offer ease of use through simple button activation. This improves both driver comfort and control over the vehicle. The increasing trend of automation and smart features in passenger cars is also contributing to the growing demand for electric parking brakes.
The market is further segmented by ownership model into OEM (original equipment manufacturer) and aftermarket sales. The OEM segment is projected to capture 87.6% of the market share in 2024, as manufacturers integrate EPBs into new vehicle models as standard features. OEMs play a crucial role in driving market growth by using EPBs to enhance vehicle design flexibility, reduce weight, and improve performance. These benefits not only appeal to consumers but also to manufacturers, enabling them to offer competitive pricing. Furthermore, OEMs' continuous innovation helps meet the evolving needs of the market, including regulatory standards and consumer preferences.
In the Asia-Pacific region, the EPB market is expected to see rapid growth, especially in countries like China. Supported by urbanization, rising incomes, and a robust automotive manufacturing industry, this region is expected to emerge as a key market player, with EPBs becoming more widely adopted due to their weight-reduction benefits and enhanced fuel efficiency.
Report Content
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360 synopsis, 2021 - 2034
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 EPB Manufacturers
3.2.2 Component Manufacturers
3.2.3 Distributors
3.2.4 End-users
3.3 Profit margin analysis
3.4 Price analysis
3.5 Technology & innovation landscape
3.6 Patent landscape
3.7 Key news & initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Increasing demand for advanced safety features.
3.9.1.2 Push towards enhanced vehicle efficiency and reduced weight.
3.9.1.3 Technological advancements in braking systems.
3.9.1.4 Growing adoption of electric and hybrid vehicles.
3.9.2 Industry pitfalls & challenges
3.9.2.1 High cost of EPB systems and maintenance.
3.9.2.2 Potential reliability issues with electronic components.
3.10 Growth potential analysis
3.11 Porter's analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Type, 2021 - 2034 ($Bn, Units)
5.1 Key trends
5.2 Cable-pull system
5.3 Caliper integrated system
Chapter 6 Market Estimates & Forecast, By Component, 2021 - 2034 ($Bn, Units)
6.1 Key trends
6.2 Electronic Control Unit (ECU)
6.3 Actuator
6.4 Switch
6.5 Others
Chapter 7 Market Estimates & Forecast, By Vehicle, 2021 - 2034 ($Bn, Units)
7.1 Key trends
7.2 Passenger vehicles
7.2.1 Hatchback
7.2.2 Sedan
7.2.3 SUV
7.3 Commercial vehicles
7.3.1 Light Commercial Vehicle (LCVs)
7.3.2 Heavy Commercial Vehicle (HCVs)
Chapter 8 Market Estimates & Forecast, By Sales Channel, 2021 - 2034 ($Bn, Units)
8.1 Key trends
8.2 OEM
8.3 Aftermarket
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2034 ($Bn, Units)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Spain
9.3.5 Italy
9.3.6 Russia
9.3.7 Nordics
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 ANZ
9.4.6 Southeast Asia
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.6 MEA
9.6.1 UAE
9.6.2 South Africa
9.6.3 Saudi Arabia
Chapter 10 Company Profiles
10.1 ADVICS
10.2 Aisin Seiki
10.3 Akebono Brake Industry
10.4 Autoliv
10.5 BorgWarner
10.6 Brembo
10.7 Continental
10.8 Denso
10.9 Hitachi Automotive Systems
10.10 Hyundai Mobis
10.11 JTEKT
10.12 Knorr-Bremse
10.13 Magna International
10.14 Mando
10.15 Nissin Kogyo
10.16 Robert Bosch
10.17 TRW Automotive
10.18 Valeo
10.19 WABCO
10.20 ZF Friedrichshafen
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