Electronic Parking Brake System Market Growth, Opportunities & Forecast by 2032
The electronic parking brake system market is projected to reach USD 4.70 billion by 2032 from USD 2.51 billion in 2025 at a CAGR of 9.4% during 2025–2032. Increasing electrification of vehicles, particularly in hybrid and battery-electric models, and growing production of ICE vehicles are creating strong demand for electronic parking brakes, as they seamlessly integrate with electronic control units and support brake-by-wire functionalities. Key suppliers like Continental, ZF, Hyundai Mobis, ADVICS CO., LTD., Brembo Brake, and HL Mando are investing significantly in the development of modular EPB that reduce weight and improve reliability. For instance, in March 2025, ZF Friedrichshafen and Brembo will introduce a brake-by-wire system, replacing traditional hydraulic brakes with electronic components. These systems promise improved safety, faster response times, and reduced maintenance. Passenger cars hold the largest market share in the electronic parking brake system market A...