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The Electric Parking Brake Market Size was valued at USD 2.89 billion in 2023 and is expected to reach USD 10.99 billion by 2032 and grow at a CAGR of 16% over the forecast period 2024-2032.
An electric parking brake is an automatic parking brake in which a small switch replaces the manual parking brake lever. This technique gives designers of vehicles more leeway to express their creativity by making automobiles roomier and improving their vehicles' gas mileage as a result of the decreased mass of their systems. Thus, there are no mechanical hand brake elements, there are benefits such as a decrease of up to 7.3 kilograms in the overall weight of the car. Electric parking brakes are becoming increasingly common in high-end and luxury vehicles. To keep a moving car from moving while it is parked on roads, electric parking brakes are utilized. In addition, an alternative to the traditional handbrake lever is the use of electric brakes, which are activated by pressing a button. When the button of the electric parking brake is pressed or pulled, the motors force the pads onto the back brakes.
KEY DRIVERS:
Advancements in automotive electronics are driving wider adoption of dependable and efficient electronic parking brakes.
The advancements in car electronics are making electronic parking brakes more attractive option for the manufacturers. Due to these improvements, EPBs are becoming more reliable, efficient, and affordable to integrate into these vehicles. This wider adoption allows carmakers to equip a larger variety of cars with EPBs. This shift benefits the drivers as well, as EPBs and offers a more convenient parking experience and can even integrate with safety features like hill-hold assist.
User-friendly electric parking brakes are fueling market growth as consumers seek comfort and luxury features in their cars.
RESTRAINTS:
Higher initial cost of electric parking brakes compared to traditional handbrakes can be a barrier for budget-conscious consumers.
In very cold climates, the performance of electric parking brakes might be affected, requiring additional testing and potential adaptations.
OPPORTUNITIES:
Rising consumer demand for comfort and convenience features like electric parking brakes is creating a boom in the market.
Advancements in electronic car systems are making electric parking brakes more affordable and reliable, opening doors to wider vehicle adoption.
CHALLENGES:
Higher costs and complexity of electric parking brakes compared to traditional brakes limit market growth, especially in budget-conscious regions.
Although the electronic parking brakes have many benefits, their initial cost may prevent them from being widely used. The car manufacturers incur higher production costs because these systems are more complex than traditional mechanical brakes. This ultimately raises the cost for customers, which may reduce their attractiveness in marketplaces where affordability is a key consideration. Thus, the initial cost of electric parking brakes can be a barrier, particularly in markets for cars where buyers are tight on funds.
The war in Russia-Ukraine has impacted the electric parking brake (EPB) market, creating the worse effect that is expected to disrupt growth. The conflict has impacted the production and export of vital car parts, including the semiconductors essential for EPB function. This shortage could lead to a 20-30% decline in EPB production in the short term. The sanctions imposed on Russia, a significant producer of raw materials like palladium used in electronic components, could further restrict supply and potentially inflate material costs by 5-10%. Car manufacturers, especially in Europe which has strong ties to both Russia and Ukraine, are likely to face production slowdowns due to parts shortages. This could lead to a 7-10% decrease in the overall demand for EPBs.
An economic slowdown can affect the electric parking brake (EPB) market's growth. Limited budgets leads to a drop in discretionary spending, particularly on feature-rich new cars with EPBs. Automakers, facing shrinking profits, may also become hesitant to introduce new features like EPBs. They might prioritize cost-cutting and delay investments in these sophisticated technologies, potentially stagnating or even causing a temporary decline in EPB adoption rates. Thus, economic downturns can disrupt global supply chains, leading to shortages of critical components for EPB production. This can cause production slowdowns or price hikes for EPBs, further dampening market enthusiasm. A 5% supply chain disruption could potentially lead to a 3% rise in EPB prices.
By System Type
Cable Pull System
Electric-Hydraulic Caliper Systems
Electric-Hydraulic Caliper Systems is the dominating sub-segment in the Electric Parking Brake Market by system type holding around 75-80% of market share. Electric-hydraulic caliper systems offer a combination of electric and hydraulic technology. Electric systems provide advanced features and easy integration with other electronic controls, while hydraulic systems deliver powerful braking and precise control. This combination translates to superior braking performance, responsiveness, and driver confidence, making electric-hydraulic caliper systems the preferred choice.
By Vehicle Type
Light Commercial Vehicle
Passenger Vehicle
Heavy Commercial Vehicle
Passenger Vehicles is the dominating sub-segment in the Electric Parking Brake Market by system type holding around 60-65% of market share. Passenger cars are the most produced and widely used vehicle type globally. The growing demand for comfort and convenience features in passenger vehicles is a major driver for EPB adoption. Features like automatic activation/deactivation, hill-hold assist, and a streamlined interior design with no bulky handbrake lever are highly appealing to passenger car buyers.
The Asia-Pacific is the dominating region in the Electric Parking Brake Market, holding about 45-50% of market share. This dominance is fueled by the rising automotive industry and growing middle class as they want new vehicles with advanced features like EPBs. Government regulations in some APAC countries further accelerate EPB adoption by prioritizing improved vehicle safety.
North America is the second highest region in this market with a 30-35% share. Major car manufacturers are catering to consumer demand for comfort and convenience by incorporating EPBs into their vehicles. Additionally, North America's focus on advanced driver-assistance systems creates a natural synergy with EPBs, pushing their adoption even further.
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are ZF Friedrichshafen AG (Germany), Continental AG (Germany), Aisin Seiki Co., Ltd. (Japan), Mando-Hella Electronics Corp. (South Korea), DURA Automotive Systems (US), Küster Holding GmbH (Germany), TBK Co., Ltd. (Tokyo), Svenska Kullagerfabriken AB (Sweden), Hyundai Mobis Co., Ltd. (South Korea), Wuhu Bethel Automotive Safety Systems Co., Ltd (China), Zhejiang Wanchao Electric Appliance Co., Ltd. (China) and other key players.
In Jan. 2024: Tata Motors began delivering their new electric Punch.ev featuring a redesigned front fascia, digital displays, and a sunroof. Built on a new platform supporting various drivetrains and fast charging, it boasts an extended electric range of 300-600 km.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 2.89 Billion |
| Market Size by 2032 | US$ 10.99 Billion |
| CAGR | CAGR of 16% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By System Type (Cable Pull System, Electric-Hydraulic Caliper Systems) • By Vehicle Type (Light Commercial Vehicle, Passenger Vehicle, Heavy Commercial Vehicle) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | ZF Friedrichshafen AG (Germany), Continental AG (Germany), Aisin Seiki Co., Ltd. (Japan), Mando-Hella Electronics Corp. (South Korea), DURA Automotive Systems (US), Küster Holding GmbH (Germany), TBK Co., Ltd. (Tokyo), Svenska Kullagerfabriken AB (Sweden), Hyundai Mobis Co., Ltd. (South Korea), Wuhu Bethel Automotive Safety Systems Co., Ltd (China), Zhejiang Wanchao Electric Appliance Co., Ltd. (China) |
| Key Drivers | • Advancements in automotive electronics are driving wider adoption of dependable and efficient electronic parking brakes. • User-friendly electric parking brakes are fueling market growth as consumers seek comfort and luxury features in their cars. |
| Restraints | • Higher initial cost of electric parking brakes compared to traditional handbrakes can be a barrier for budget-conscious consumers. • In very cold climates, the performance of electric parking brakes might be affected, requiring additional testing and potential adaptations. |
Ans: The expected CAGR of the global Electric Parking Brake Market during the forecast period is 16%.
Ans: The Electric Parking Brake Market was valued at USD 2.89 billion in 2023.
Ans: Advancements in automotive electronics and rising consumer demand for comfort and convenience features in cars are key drivers.
Ans: The higher initial cost compared to traditional handbrakes and potential performance limitations in very cold climates are challenges.
Ans: The Asia-Pacific region leads the market due to its rising automotive industry, growing middle class, and government regulations on safety features.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Electric Parking Brake Market Segmentation, By System Type
9.1 Introduction
9.2 Trend Analysis
9.3 Cable Pull System
9.4 Electric-Hydraulic Caliper Systems
10. Electric Parking Brake Market Segmentation, By Vehicle Type
10.1 Introduction
10.2 Trend Analysis
10.3 Light Commercial Vehicle
10.4 Passenger Vehicle
10.5 Heavy Commercial Vehicle
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Electric Parking Brake Market Segmentation, by Country
11.2.3 North America Electric Parking Brake Market Segmentation, By System Type
11.2.4 North America Electric Parking Brake Market Segmentation, By Vehicle Type
11.2.5 USA
11.2.5.1 USA Electric Parking Brake Market Segmentation, By System Type
11.2.5.2 USA Electric Parking Brake Market Segmentation, By Vehicle Type
11.2.6 Canada
11.2.6.1 Canada Electric Parking Brake Market Segmentation, By System Type
11.2.6.2 Canada Electric Parking Brake Market Segmentation, By Vehicle Type
11.2.7 Mexico
11.2.7.1 Mexico Electric Parking Brake Market Segmentation, By System Type
11.2.7.2 Mexico Electric Parking Brake Market Segmentation, By Vehicle Type
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Electric Parking Brake Market Segmentation, by Country
11.3.2.2 Eastern Europe Electric Parking Brake Market Segmentation, By System Type
11.3.2.3 Eastern Europe Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.2.4 Poland
11.3.2.4.1 Poland Electric Parking Brake Market Segmentation, By System Type
11.3.2.4.2 Poland Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.2.5 Romania
11.3.2.5.1 Romania Electric Parking Brake Market Segmentation, By System Type
11.3.2.5.2 Romania Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.2.6 Hungary
11.3.2.6.1 Hungary Electric Parking Brake Market Segmentation, By System Type
11.3.2.6.2 Hungary Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.2.7 Turkey
11.3.2.7.1 Turkey Electric Parking Brake Market Segmentation, By System Type
11.3.2.7.2 Turkey Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.2.8 Rest of Eastern Europe
11.3.2.8.1 Rest of Eastern Europe Electric Parking Brake Market Segmentation, By System Type
11.3.2.8.2 Rest of Eastern Europe Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3 Western Europe
11.3.3.1 Western Europe Electric Parking Brake Market Segmentation, by Country
11.3.3.2 Western Europe Electric Parking Brake Market Segmentation, By System Type
11.3.3.3 Western Europe Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.4 Germany
11.3.3.4.1 Germany Electric Parking Brake Market Segmentation, By System Type
11.3.3.4.2 Germany Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.5 France
11.3.3.5.1 France Electric Parking Brake Market Segmentation, By System Type
11.3.3.5.2 France Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.6 UK
11.3.3.6.1 UK Electric Parking Brake Market Segmentation, By System Type
11.3.3.6.2 UK Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.7 Italy
11.3.3.7.1 Italy Electric Parking Brake Market Segmentation, By System Type
11.3.3.7.2 Italy Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.8 Spain
11.3.3.8.1 Spain Electric Parking Brake Market Segmentation, By System Type
11.3.3.8.2 Spain Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.9 Netherlands
11.3.3.9.1 Netherlands Electric Parking Brake Market Segmentation, By System Type
11.3.3.9.2 Netherlands Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.10 Switzerland
11.3.3.10.1 Switzerland Electric Parking Brake Market Segmentation, By System Type
11.3.3.10.2 Switzerland Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.11 Austria
11.3.3.11.1 Austria Electric Parking Brake Market Segmentation, By System Type
11.3.3.11.2 Austria Electric Parking Brake Market Segmentation, By Vehicle Type
11.3.3.12 Rest of Western Europe
11.3.3.12.1 Rest of Western Europe Electric Parking Brake Market Segmentation, By System Type
11.3.2.12.2 Rest of Western Europe Electric Parking Brake Market Segmentation, By Vehicle Type
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia Pacific Electric Parking Brake Market Segmentation, by Country
11.4.3 Asia Pacific Electric Parking Brake Market Segmentation, By System Type
11.4.4 Asia Pacific Electric Parking Brake Market Segmentation, By Vehicle Type
11.4.5 China
11.4.5.1 China Electric Parking Brake Market Segmentation, By System Type
11.4.5.2 China Electric Parking Brake Market Segmentation, By Vehicle Type
11.4.6 India
11.4.6.1 India Electric Parking Brake Market Segmentation, By System Type
11.4.6.2 India Electric Parking Brake Market Segmentation, By Vehicle Type
11.4.7 Japan
11.4.7.1 Japan Electric Parking Brake Market Segmentation, By System Type
11.4.7.2 Japan Electric Parking Brake Market Segmentation, By Vehicle Type
11.4.8 South Korea
11.4.8.1 South Korea Electric Parking Brake Market Segmentation, By System Type
11.4.8.2 South Korea Electric Parking Brake Market Segmentation, By Vehicle Type
11.4.9 Vietnam
11.4.9.1 Vietnam Electric Parking Brake Market Segmentation, By System Type
11.4.9.2 Vietnam Electric Parking Brake Market Segmentation, By Vehicle Type
11.4.10 Singapore
11.4.10.1 Singapore Electric Parking Brake Market Segmentation, By System Type
11.4.10.2 Singapore Electric Parking Brake Market Segmentation, By Vehicle Type
11.4.11 Australia
11.4.11.1 Australia Electric Parking Brake Market Segmentation, By System Type
11.4.11.2 Australia Electric Parking Brake Market Segmentation, By Vehicle Type
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Electric Parking Brake Market Segmentation, By System Type
11.4.12.2 Rest of Asia-Pacific Electric Parking Brake Market Segmentation, By Vehicle Type
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Electric Parking Brake Market Segmentation, by Country
11.5.2.2 Middle East Electric Parking Brake Market Segmentation, By System Type
11.5.2.3 Middle East Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.2.4 UAE
11.5.2.4.1 UAE Electric Parking Brake Market Segmentation, By System Type
11.5.2.4.2 UAE Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.2.5 Egypt
11.5.2.5.1 Egypt Electric Parking Brake Market Segmentation, By System Type
11.5.2.5.2 Egypt Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.2.6 Saudi Arabia
11.5.2.6.1 Saudi Arabia Electric Parking Brake Market Segmentation, By System Type
11.5.2.6.2 Saudi Arabia Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.2.7 Qatar
11.5.2.7.1 Qatar Electric Parking Brake Market Segmentation, By System Type
11.5.2.7.2 Qatar Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.2.8 Rest of Middle East
11.5.2.8.1 Rest of Middle East Electric Parking Brake Market Segmentation, By System Type
11.5.2.8.2 Rest of Middle East Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.3 Africa
11.5.3.1 Africa Electric Parking Brake Market Segmentation, by Country
11.5.3.2 Africa Electric Parking Brake Market Segmentation, By System Type
11.5.3.3 Africa Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.3.4 Nigeria
11.5.3.4.1 Nigeria Electric Parking Brake Market Segmentation, By System Type
11.5.3.4.2 Nigeria Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.3.5 South Africa
11.5.3.5.1 South Africa Electric Parking Brake Market Segmentation, By System Type
11.5.3.5.2 South Africa Electric Parking Brake Market Segmentation, By Vehicle Type
11.5.3.6 Rest of Africa
11.5.3.6.1 Rest of Africa Electric Parking Brake Market Segmentation, By System Type
11.5.3.6.2 Rest of Africa Electric Parking Brake Market Segmentation, By Vehicle Type
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Electric Parking Brake Market Segmentation, by Country
11.6.3 Latin America Electric Parking Brake Market Segmentation, By System Type
11.6.4 Latin America Electric Parking Brake Market Segmentation, By Vehicle Type
11.6.5 Brazil
11.6.5.1 Brazil Electric Parking Brake Market Segmentation, By System Type
11.6.5.2 Brazil Electric Parking Brake Market Segmentation, By Vehicle Type
11.6.6 Argentina
11.6.6.1 Argentina Electric Parking Brake Market Segmentation, By System Type
11.6.6.2 Argentina Electric Parking Brake Market Segmentation, By Vehicle Type
11.6.7 Colombia
11.6.7.1 Colombia Electric Parking Brake Market Segmentation, By System Type
11.6.7.2 Colombia Electric Parking Brake Market Segmentation, By Vehicle Type
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Electric Parking Brake Market Segmentation, By System Type
11.6.8.2 Rest of Latin America Electric Parking Brake Market Segmentation, By Vehicle Type
12. Company Profiles
12.1 ZF Friedrichshafen AG (Germany)
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Continental AG (Germany)
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Aisin Seiki Co., Ltd. (Japan)
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Mando-Hella Electronics Corp. (South Korea)
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 DURA Automotive Systems (US)
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Küster Holding GmbH (Germany)
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 TBK Co., Ltd. (Tokyo)
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Svenska Kullagerfabriken AB (Sweden)
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Hyundai Mobis Co., Ltd. (South Korea)
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Wuhu Bethel Automotive Safety Systems Co., Ltd (China)
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Zhejiang Wanchao Electric Appliance Co., Ltd. (China)
12.11.1 Company Overview
12.11.2 Financial
12.11.3 Products/ Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases and Best Practices
15. Conclusion
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