Electric Parking Brake Market Size

The global electric parking brake market size was valued at USD 3 billion in 2024 and is projected to grow at a CAGR of 16.8% between 2025 and 2034, due to increasing demand for advanced safety features in vehicles. These enhance vehicle safety by providing improved control over braking systems, particularly on inclines. They also offer convenience through features like auto-hold and electronic emergency braking. Stricter safety standards and regulatory requirements for advanced braking systems are contributing to market expansion.

As automotive manufacturers integrate more sophisticated technologies, EPBs are becoming standard in modern vehicles. For instance, in November 2023, ADVICS announced an expansion of its product range with new Electric Parking Brake actuator kits. These kits, designed for easy installation and automatic engagement of parking brakes, include OE production parts from Japan and installation hardware. The new parts (part numbers ACR001 and ACR002) cover over eight million vehicles in operation. ADVICS and AISIN World Corp. of America will handle distribution, with the new products already in stock.

The push towards enhanced vehicle efficiency and reduced weight is another significant driver in the electric parking brake market. EPBs eliminate the need for traditional mechanical linkages and components, resulting in lighter and more compact brake systems. This weight reduction improves overall vehicle fuel efficiency and performance. As manufacturers aim for better fuel economy and lower emissions, EPBs are increasingly adopted across various vehicle segments for their contribution to these goals.