The Global Electric Parking Brake System Market is projected to grow at a CAGR of 11.3% from 2024 to 2031, according to a new report published by Verified Market Reports. The report reveals that the market was valued at USD 5.61 Billion in 2024 and is expected to reach USD 11.351 Billion by the end of the forecast period.
The Electric Parking Brake (EPB) System Market is experiencing significant growth driven by several key factors. One of the primary drivers is the increasing demand for enhanced vehicle safety and comfort features. Electric parking brakes offer several advantages over traditional mechanical systems, including faster response times, space-saving designs, and integration with vehicle electronics for enhanced functionality.
Scope Of The Report
| ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2021-2022 |
| UNIT | VALUE (USD BILLION) |
| KEY COMPANIES PROFILED | ZF TRW, Continental, Dura, Mando, AISIN, Hyundai Mobis, Zhejiang Libang Hexin, Wuhu Bethel |
| SEGMENTS COVERED | By Type – Caliper Integrated EPB, Cable Puller EPB By Application – Sedans, SUVs, Others By Geography – North America, Europe, APAC, Middle East Asia & Rest Of World. |
Electric Parking Brake System Market Overview
- Market Growth: The Electric Parking Brake (EPB) system market in Automobile & Transportation is witnessing robust growth due to increasing adoption of electric vehicles (EVs) and advancements in vehicle safety technologies. EPB systems offer benefits such as space savings, enhanced vehicle control, and improved reliability compared to traditional mechanical parking brakes.
- Technological Advancements: Innovations in EPB systems are driven by the integration of electronic control units (ECUs), sensors, and actuators. These advancements enable better performance, smoother operation, and compatibility with advanced driver assistance systems (ADAS) in modern vehicles.
- Increasing Vehicle Adoption: The adoption of EPB systems is rising across various vehicle segments, including passenger cars, light commercial vehicles, and SUVs. Automotive services are also evolving to support the installation, maintenance, and repair of these sophisticated braking systems.
- Regulatory Environment: Stringent safety regulations and emission norms globally are encouraging automakers to integrate advanced braking systems like EPB. Automotive technology and services are aligning to meet these regulatory requirements while enhancing vehicle safety and efficiency.
Electric Parking Brake System Market Key Players Shaping the Future
Major players, including ZF TRW, Continental, Dura, Mando, AISIN, Hyundai Mobis, Zhejiang Libang Hexin, Wuhu Bethel and more, play a pivotal role in shaping the future of the Electric Parking Brake System Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
To get market data, market insights, and a comprehensive analysis of the Global Electric Parking Brake System Market, please Contact Verified Market Reports
Electric Parking Brake System Market Segment Analysis
Electric Parking Brake System Market Segment Analysis Market is segmented on the basis of By Type, By Application And By Geography
By Type
- Caliper Integrated EPB
- Cable Puller EPB
By Application
- Sedans
- SUVs
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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