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Electric Parking Brake System Market

Electric Parking Brake System Market Surges to USD 11.351 Billion by 2031, Propelled by 11.3% CAGR – Verified Market Reports


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

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  • Caliper Integrated EPB
  • Cable Puller EPB

By Application

  • Sedans
  • SUVs
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

About Us: Verified Market Reports

Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies.

We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.

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