Product Code: ETC13307262 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Shubham Deep | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Electric Parking Brake Market was valued at USD 5.5 Billion in 2024 and is expected to reach USD 8.9 Billion by 2031, growing at a compound annual growth rate of 5.97% during the forecast period (2025-2031).
The Global Electric Parking Brake Market is experiencing significant growth driven by the increasing adoption of advanced electronic braking systems in modern vehicles. The market is propelled by factors such as the growing demand for enhanced safety features, improved driving experience, and the trend towards vehicle electrification. Electric parking brakes offer benefits such as space-saving design, better vehicle control, and reduced maintenance costs compared to traditional mechanical systems. Moreover, stringent safety regulations mandating the integration of advanced braking technologies in vehicles are further boosting market growth. The market is characterized by the presence of key players offering innovative electric parking brake solutions to cater to the evolving needs of the automotive industry worldwide. Continuous technological advancements and the expanding automotive sector are expected to fuel the market`s growth trajectory in the coming years.
The Global Electric Parking Brake Market is experiencing significant growth due to the increasing demand for advanced safety features in vehicles. The shift towards electric vehicles and the integration of electronic braking systems are driving market expansion. Automotive manufacturers are focusing on developing innovative electric parking brake solutions to enhance vehicle performance and safety. The growing emphasis on driver assistance systems and autonomous vehicles is also fueling market growth. Additionally, the adoption of electric parking brakes in commercial vehicles presents lucrative opportunities for market players. With advancements in technology and the rising awareness about vehicle safety, the Global Electric Parking Brake Market is poised for continued expansion in the coming years.
In the Global Electric Parking Brake Market, several challenges are being faced by manufacturers and stakeholders. One significant challenge is the high initial investment required for developing and implementing electric parking brake systems in vehicles. This investment includes costs associated with research and development, technology integration, and manufacturing processes, which can be substantial for companies. Additionally, the complexity of electric parking brake systems compared to traditional mechanical systems poses a challenge in terms of maintenance and repair. Ensuring compatibility with various vehicle models and addressing issues related to system failures or malfunctions also present hurdles for market players. Moreover, the need for skilled technicians to install and service electric parking brakes further adds to the challenges faced in this market.
The Global Electric Parking Brake Market is being driven by several key factors, including the increasing demand for advanced safety features in vehicles, the rising adoption of electric vehicles, and the growing focus on improving vehicle efficiency and performance. Electric parking brakes offer benefits such as improved vehicle safety, space-saving design, and enhanced driving experience, which are appealing to both consumers and automakers. Additionally, stringent government regulations regarding vehicle safety and emissions are pushing automakers to integrate advanced technologies like electric parking brakes into their vehicles. The shift towards autonomous driving and the trend towards electric and hybrid vehicles are also expected to contribute to the growth of the electric parking brake market as these vehicles often come equipped with electric parking brakes for better control and efficiency.
Government policies related to the Global Electric Parking Brake Market primarily focus on promoting vehicle safety, environmental sustainability, and technological innovation. Many countries have implemented regulations mandating the installation of electronic parking brakes in new vehicles to enhance safety features and reduce the risk of accidents. Additionally, various governments are offering incentives and subsidies to encourage the adoption of electric and hybrid vehicles equipped with electric parking brakes as part of their efforts to combat climate change and reduce carbon emissions. Furthermore, policymakers are supporting research and development initiatives to advance the technology behind electric parking brakes, driving the market towards more efficient and reliable solutions in line with evolving industry standards and consumer preferences.
The Global Electric Parking Brake Market is expected to witness robust growth in the coming years due to the increasing demand for advanced safety features in vehicles, as well as the growing trend towards electric and autonomous vehicles. With the automotive industry moving towards electrification and automation, electric parking brakes are becoming a standard feature in modern vehicles, replacing traditional handbrakes. The market is also being driven by stringent regulations mandating the use of advanced safety technologies in vehicles. Additionally, the convenience, space-saving design, and enhanced performance offered by electric parking brakes are further contributing to their adoption. As a result, the Global Electric Parking Brake Market is poised for significant expansion, with key players investing in research and development to introduce innovative products and capture a larger market share.
In the Global Electric Parking Brake Market, different regions exhibit varying trends and growth opportunities. Asia Pacific is expected to witness significant growth due to the increasing adoption of electric vehicles in countries like China and Japan. North America is also a key market, driven by technological advancements and consumer preference for safety features. In Europe, strict regulations related to vehicle safety and emissions are boosting the demand for electric parking brakes. The Middle East and Africa region is experiencing growth as well, driven by infrastructure development and the increasing focus on sustainable transportation solutions. Latin America is expected to show steady growth with the rising demand for premium vehicles equipped with advanced safety features. Overall, the global electric parking brake market is poised for growth across all regions, driven by technological advancements and regulatory developments.
Global Electric Parking Brake Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Electric Parking Brake Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Electric Parking Brake Market Revenues & Volume, 2021 & 2031F |
3.3 Global Electric Parking Brake Market - Industry Life Cycle |
3.4 Global Electric Parking Brake Market - Porter's Five Forces |
3.5 Global Electric Parking Brake Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Electric Parking Brake Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Electric Parking Brake Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
3.8 Global Electric Parking Brake Market Revenues & Volume Share, By Actuation Method, 2021 & 2031F |
3.9 Global Electric Parking Brake Market Revenues & Volume Share, By End User, 2021 & 2031F |
3.10 Global Electric Parking Brake Market Revenues & Volume Share, By Features, 2021 & 2031F |
4 Global Electric Parking Brake Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Electric Parking Brake Market Trends |
6 Global Electric Parking Brake Market, 2021 - 2031 |
6.1 Global Electric Parking Brake Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Electric Parking Brake Market, Revenues & Volume, By Cable-Pull Electric Parking Brake, 2021 - 2031 |
6.1.3 Global Electric Parking Brake Market, Revenues & Volume, By Motor-On-Caliper Electric Parking Brake, 2021 - 2031 |
6.1.4 Global Electric Parking Brake Market, Revenues & Volume, By Integrated Electric Parking Brake, 2021 - 2031 |
6.1.5 Global Electric Parking Brake Market, Revenues & Volume, By Hybrid Electric Parking Brake, 2021 - 2031 |
6.2 Global Electric Parking Brake Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Electric Parking Brake Market, Revenues & Volume, By Passenger Cars, 2021 - 2031 |
6.2.3 Global Electric Parking Brake Market, Revenues & Volume, By SUVs & Trucks, 2021 - 2031 |
6.2.4 Global Electric Parking Brake Market, Revenues & Volume, By Electric Vehicles, 2021 - 2031 |
6.2.5 Global Electric Parking Brake Market, Revenues & Volume, By Commercial Vehicles, 2021 - 2031 |
6.3 Global Electric Parking Brake Market, Revenues & Volume, By Actuation Method, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Electric Parking Brake Market, Revenues & Volume, By Electronic Control Unit, 2021 - 2031 |
6.3.3 Global Electric Parking Brake Market, Revenues & Volume, By Motor Actuated, 2021 - 2031 |
6.3.4 Global Electric Parking Brake Market, Revenues & Volume, By Sensor-Based, 2021 - 2031 |
6.3.5 Global Electric Parking Brake Market, Revenues & Volume, By Hydraulic, 2021 - 2031 |
6.4 Global Electric Parking Brake Market, Revenues & Volume, By End User, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Electric Parking Brake Market, Revenues & Volume, By OEMs, 2021 - 2031 |
6.4.3 Global Electric Parking Brake Market, Revenues & Volume, By Aftermarket, 2021 - 2031 |
6.4.4 Global Electric Parking Brake Market, Revenues & Volume, By Automotive Workshops, 2021 - 2031 |
6.4.5 Global Electric Parking Brake Market, Revenues & Volume, By Fleet Operators, 2021 - 2031 |
6.5 Global Electric Parking Brake Market, Revenues & Volume, By Features, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Electric Parking Brake Market, Revenues & Volume, By Automatic Engagement, 2021 - 2031 |
6.5.3 Global Electric Parking Brake Market, Revenues & Volume, By Hill-Hold Assistance, 2021 - 2031 |
6.5.4 Global Electric Parking Brake Market, Revenues & Volume, By Smart Locking System, 2021 - 2031 |
6.5.5 Global Electric Parking Brake Market, Revenues & Volume, By Emergency Override, 2021 - 2031 |
7 North America Electric Parking Brake Market, Overview & Analysis |
7.1 North America Electric Parking Brake Market Revenues & Volume, 2021 - 2031 |
7.2 North America Electric Parking Brake Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Electric Parking Brake Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Electric Parking Brake Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
7.5 North America Electric Parking Brake Market, Revenues & Volume, By Actuation Method, 2021 - 2031 |
7.6 North America Electric Parking Brake Market, Revenues & Volume, By End User, 2021 - 2031 |
7.7 North America Electric Parking Brake Market, Revenues & Volume, By Features, 2021 - 2031 |
8 Latin America (LATAM) Electric Parking Brake Market, Overview & Analysis |
8.1 Latin America (LATAM) Electric Parking Brake Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Electric Parking Brake Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Electric Parking Brake Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Electric Parking Brake Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
8.5 Latin America (LATAM) Electric Parking Brake Market, Revenues & Volume, By Actuation Method, 2021 - 2031 |
8.6 Latin America (LATAM) Electric Parking Brake Market, Revenues & Volume, By End User, 2021 - 2031 |
8.7 Latin America (LATAM) Electric Parking Brake Market, Revenues & Volume, By Features, 2021 - 2031 |
9 Asia Electric Parking Brake Market, Overview & Analysis |
9.1 Asia Electric Parking Brake Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Electric Parking Brake Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Electric Parking Brake Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Electric Parking Brake Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
9.5 Asia Electric Parking Brake Market, Revenues & Volume, By Actuation Method, 2021 - 2031 |
9.6 Asia Electric Parking Brake Market, Revenues & Volume, By End User, 2021 - 2031 |
9.7 Asia Electric Parking Brake Market, Revenues & Volume, By Features, 2021 - 2031 |
10 Africa Electric Parking Brake Market, Overview & Analysis |
10.1 Africa Electric Parking Brake Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Electric Parking Brake Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Electric Parking Brake Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Electric Parking Brake Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
10.5 Africa Electric Parking Brake Market, Revenues & Volume, By Actuation Method, 2021 - 2031 |
10.6 Africa Electric Parking Brake Market, Revenues & Volume, By End User, 2021 - 2031 |
10.7 Africa Electric Parking Brake Market, Revenues & Volume, By Features, 2021 - 2031 |
11 Europe Electric Parking Brake Market, Overview & Analysis |
11.1 Europe Electric Parking Brake Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Electric Parking Brake Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Electric Parking Brake Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Electric Parking Brake Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
11.5 Europe Electric Parking Brake Market, Revenues & Volume, By Actuation Method, 2021 - 2031 |
11.6 Europe Electric Parking Brake Market, Revenues & Volume, By End User, 2021 - 2031 |
11.7 Europe Electric Parking Brake Market, Revenues & Volume, By Features, 2021 - 2031 |
12 Middle East Electric Parking Brake Market, Overview & Analysis |
12.1 Middle East Electric Parking Brake Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Electric Parking Brake Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Electric Parking Brake Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Electric Parking Brake Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Electric Parking Brake Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
12.5 Middle East Electric Parking Brake Market, Revenues & Volume, By Actuation Method, 2021 - 2031 |
12.6 Middle East Electric Parking Brake Market, Revenues & Volume, By End User, 2021 - 2031 |
12.7 Middle East Electric Parking Brake Market, Revenues & Volume, By Features, 2021 - 2031 |
13 Global Electric Parking Brake Market Key Performance Indicators |
14 Global Electric Parking Brake Market - Export/Import By Countries Assessment |
15 Global Electric Parking Brake Market - Opportunity Assessment |
15.1 Global Electric Parking Brake Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Electric Parking Brake Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Electric Parking Brake Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
15.4 Global Electric Parking Brake Market Opportunity Assessment, By Actuation Method, 2021 & 2031F |
15.5 Global Electric Parking Brake Market Opportunity Assessment, By End User, 2021 & 2031F |
15.6 Global Electric Parking Brake Market Opportunity Assessment, By Features, 2021 & 2031F |
16 Global Electric Parking Brake Market - Competitive Landscape |
16.1 Global Electric Parking Brake Market Revenue Share, By Companies, 2024 |
16.2 Global Electric Parking Brake Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |