Electrical Park Brake (EPB) Market Expected to Reach $14.3 Billion by 2033

According to a new report published by Allied Market Research, titled, “Electrical Park Brake (EPB) Market," The electrical park brake market size was valued at $3.5 billion in 2023, and is estimated to reach $14.3 billion by 2033, growing at a CAGR of 15.6% from 2024 to 2033.

An electrical park brake (EPB) is an advanced braking system that replaces the traditional manual handbrake with an electronically controlled mechanism. It uses electronic controls and actuators to engage and release the vehicle's parking brake, often with the push of a button or automatically in certain conditions. EPB systems offer enhanced safety, convenience, and space-saving advantages, as they are often integrated with other vehicle safety features such as hill-start assist, emergency braking, and autonomous driving functions. These systems are commonly used in modern vehicles, particularly electric and hybrid models. Thus, the electrical park brake market size is expanding due to increasing adoption in electric passenger vehicles.

Moreover, EPBs are designed to improve cabin ergonomics by eliminating the need for a bulky mechanical lever, making room for other features in the vehicle's interior. Increase in shift toward vehicle electrification, along with rise in consumer demand for advanced safety features, creates a favorable environment for EPB systems to become standard in modern vehicles. As automakers race to meet stricter government regulations and incorporate smart technologies into their product lines, EPBs are positioned as a critical component in both electric and autonomous vehicles. Innovations in the EPB market are driven by the need for enhanced safety and convenience.

Investing in R&D for caliper integrated systems is essential, as they have gained traction due to their efficiency, space-saving benefits, and alignment with current trends in lightweight vehicle design. Partnerships with OEMs are expected to be crucial in capturing new market segments and maintaining a competitive edge as the industry moves toward electrified and automated vehicle platforms. Thus, staying ahead of technological advancements and regulatory changes are expected to be key for market leaders to capture value and ensure sustained growth in the competitive automotive landscape. The EPB market is growing rapidly as more vehicles adopt electronic parking brake systems.

Furthermore, the European Union’s safety regulations require automakers to incorporate advanced braking systems such as EPBs into new vehicles to meet crash avoidance and pedestrian safety standards. In 2024, electronic parking brake (EPB) systems became mandatory on commercial vehicles in Europe, marking a significant step toward improving vehicle safety by reducing accidents caused by rolling vehicles. This regulation, part of the amended ECE R 13 guideline, was proposed by Germany and adopted in September 2023. It mandates that all new commercial vehicles, including vans, trucks, and buses, must be equipped with automatically activated handbrakes if they have an electric braking system. This regulatory shift is expected to drive substantial growth in the electrical park brake industry, as manufacturers adapt to meet the rising demand for compliance-ready braking solutions.

The electrical park brake (EPB) market is segmented into type, vehicle, sales channel, and region. On the basis of type, the market is divided into cable-pull systems and caliper integrated systems. As per vehicle, the market is segregated into passenger vehicles and commercial vehicles. On the basis of sales channel, the market is bifurcated into OEM and aftermarket. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. According to the electrical park brake market forecast, Asia-Pacific will lead in adoption rates.

Surge in demand for advanced safety features, transition toward electrification, and continuous technological innovations are expected to fuel the growth of the global electrical park brake (EPB) market during the forecast period. However, the electrical park brake market analysis identified key challenges such as high production costs and maintenance challenges. Despite these obstacles, the integration of smart technologies and increase in consumer preference for convenience are expected to offer lucrative opportunities for the market in the future.

Moreover, in manufacturing & logistics industries, automation, robotics, and advanced data analytics enable companies to streamline operations, reduce costs, and respond more quickly to market demands. These technological improvements allow businesses to operate more efficiently, giving them a competitive edge. The rapid pace of innovation encourages companies to continuously update their products and services to meet changes in consumer needs. As a result, industries that leverage these advancements are expected to witness growth and increased market share in the future.

KEY FINDINGS OF THE STUDY

• On the basis of type, the caliper integrated systems segment is anticipated to exhibit a remarkable growth during the forecast period.
• On the basis of vehicle, the passenger vehicles segment is anticipated to exhibit a remarkable growth during the forecast period.
• On the basis of sales channel, the OEM segment is anticipated to exhibit a remarkable growth during the forecast period.
• On the basis of region, the Asia-Pacific is anticipated to exhibit remarkable growth during the forecast period.

The key players analyzed in this report are Aisin Seiki Co. Ltd., Continental AG, DURA Automotive Systems, TBK Co. Ltd., Hyundai Mobis Co. Ltd., Küster Holding GmbH, Mando-Hella Electronics Corp., Svenska Kullagerfabriken AB, ZF Friedrichshafen AG, Wuhu Bethel Automotive Safety Systems Co. Ltd., and Zhejiang Wanchao Electric Appliance Co. Ltd. The companies have adopted strategies such as expansion, partnership, product launch, and others to improve their market positioning. Companies with advanced technology are dominating the electrical park brake market share globally. Companies in the electrical park brake industry are focusing on innovation to meet stricter safety regulations.