Electric Parking Brake Market Set to Accelerate with Next-Gen Automotive Innovations

Market Overview

The global electric parking brake market is undergoing a significant transformation as modern vehicles increasingly adopt electronic systems in place of traditional mechanical components. Electric parking brakes (EPBs), replacing the conventional handbrake lever, are rapidly becoming a standard feature in premium and mid-range vehicles. Offering numerous advantages such as improved space utilization, enhanced vehicle safety, reduced weight, and compatibility with advanced driver assistance systems (ADAS), EPBs are shaping the next generation of automobile design.

In 2018, the market was valued at approximately US$ 1.2 billion, and by the end of 2019, it reached nearly US$ 1.4 billion. According to market projections, the electric parking brake market is expected to grow at a CAGR of ~12.0% over the forecast period, signaling robust growth opportunities driven by technological innovation and increasing demand for automotive automation.

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Key Market Drivers

Technological Advancements: Brake-by-Wire and Full Electric Drive Systems

One of the leading trends fueling market growth is the integration of brake-by-wire technology, which eliminates mechanical linkages in favor of electronic controls. This reduces vehicle weight and enhances fuel efficiency. For instance, BMW's M8 series now features brake-by-wire systems that reduce vehicle mass and improve braking precision.

In addition, full electric drive-by-wire systems are emerging as a game-changing innovation. These systems electronically manage braking, steering, and other functionalities without hydraulic or mechanical components, offering new possibilities for electric and autonomous vehicles.

Rise in Electromobility and Demand for Space Optimization

With rising emphasis on electromobility, manufacturers are focusing on lightweight components that contribute to better fuel economy and emissions control. Electric parking brakes contribute to vehicle weight reduction (up to 7.3 kg) and allow for greater interior design flexibility, especially in center consoles.

The increasing penetration of electric and hybrid vehicles, combined with a growing preference for automatic driver assistance technologies, is also driving EPB adoption in both passenger and commercial vehicles.

Market Restraints

Product Reliability and Counterfeit Components

Despite their advantages, electric parking brakes are prone to system faults and component failure, particularly when counterfeit parts are used. Major automakers, including Tesla, Volkswagen, Renault, and Toyota, have issued global recalls due to faulty EPB units, which failed to engage properly under specific conditions.

Furthermore, counterfeit automotive components represent a growing threat. In markets such as India, up to 30% of auto parts are counterfeit, often produced by Tier 3 suppliers, undermining brand reputation and user safety.

Regional Insights

Europe Leading, Asia Emerging

Europe currently dominates the global electric parking brake market due to high penetration of ADAS, stringent vehicle safety regulations, and widespread adoption of EVs and luxury cars. Brands such as Audi, Mercedes-Benz, and Jaguar have completely phased out manual handbrakes in favor of EPBs.

South Asia and East Asia are fast-emerging regions for EPB adoption, bolstered by increasing vehicle production, favorable government policies, and investments in R&D and auto-electronics infrastructure. Notably, Hyundai Mobis launched its innovation center "M-Cube" in Silicon Valley to boost development in autonomous and smart vehicle technologies.

North America, particularly Mexico, is becoming a production hub for EPB components due to growing investment in automotive manufacturing.

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Market Segmentation

By Product Type:
• Electric-Hydraulic Caliper Systems
• Cable-Pull Systems

Electric-hydraulic caliper systems are expected to dominate the product landscape due to superior performance, automatic disengagement, integrated hill-hold features, and reduced installation complexity. These systems are especially prevalent in SUVs and luxury cars, where comfort and safety are prioritized.

By Vehicle Type:

• Passenger Cars
o SUVs
o Luxury Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)

While passenger cars are the leading adopters, especially in the SUV and luxury segments, commercial vehicles are gradually adopting EPBs as manufacturers focus on weight reduction and safety features.

Competitive Landscape

The global electric parking brake market is moderately fragmented, with Tier 1 manufacturers accounting for approximately 55% of the total market share. Key players are:

• Continental AG
• Hyundai Mobis
• ZF Friedrichshafen AG
• Aisin Seiki Co., Ltd.
• Akebono Brake Industry Co., Ltd.
• Hitachi, Ltd.
• Robert Bosch GmbH
• Brembo S.p.A.
• HELLA GmbH & Co. KGaA
• Toshiba Corporation
• SKF Group
• Sanken Electric Co., Ltd.

These companies are actively investing in R&D, product innovation, and strategic partnerships. For instance, Aisin Seiki recently announced a joint venture with Leon Import S.A. in Panama to cater to Latin American aftermarket needs.

Future Outlook

The electric parking brake market is poised for strong growth, driven by:

• Increased automation in mass transit
• Rising demand for safety and comfort features
• Continued electrification of vehicles
• Ongoing investments in autonomous vehicle technologies

Analyst Perspective

According to Persistence Market Research analysts, Europe will retain market leadership through 2029, while South Asia and East Asia will present lucrative growth avenues, particularly for electric-hydraulic caliper systems.

The transition from mechanical to electric systems represents a broader shift toward software-defined vehicles. However, the market faces challenges such as system reliability concerns, counterfeit components, and long product lifecycles. Manufacturers must navigate these obstacles by focusing on quality assurance, compliance, and innovation in drive-by-wire technologies.

Conclusion

The electric parking brake market is at the forefront of automotive innovation, signaling the decline of traditional handbrakes in favor of safer, smarter, and more space-efficient solutions. As automakers continue to integrate autonomous technologies and lightweight designs, electric parking brakes will play a pivotal role in shaping the future of mobility.

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This release was published on openPR.