NEW YORK, Sept. 11, 2023 /PRNewswire/ — The automotive slack adjuster market size is expected to grow by USD 639.33 million from 2022 to 2027, progressing at a CAGR of 6.37% as per the latest Technavio market research report. The report has been segmented by type (Automatic slack adjuster and Manual slack adjuster), vehicle type (heavy commercial vehicle segment, light commercial vehicles, passenger cars), and geography (APAC, North America, Europe, Middle East and Africa, and South America). Rising emphasis on road safety and the need to reduce accidents is notably driving the market growth. Automotive slack adjusters are installed in commercial vehicles to mitigate collisions. The surge in road fatalities aligns with the increasing vehicle count, with developing nations like India and China experiencing a steeper rise in road accidents due to their accelerated automotive sector growth. Notably, accidents stem from lane deviations, loss of vehicle control due to speeding, and rear-end collisions within the same lane. These collisions can be attributed to factors including driver misjudgments, vehicle malfunctions, and environmental circumstances. Consequently, the imperative to curtail accidents linked to commercial vehicles underscores the augmented requirement for commercial vehicle automotive slack adjusters. This demand is poised to drive the expansion of the automotive slack adjuster market during the forecast period. Discover insights on market size before buying the full report- Download the sample report
Technavio has announced its latest market research report titled Global Automotive Slack Adjuster Market 2023-2027
Automotive Slack Adjuster Market: Segment Overview
This market research report segments the automotive slack adjuster market by type (Automatic slack adjuster and Manual slack adjuster), (heavy commercial vehicle segment, light commercial vehicles, passenger cars), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
· The automatic slack adjuster segment is estimated to grow significantly during the forecast period. The automatic slack adjuster is designed to autonomously regulate brake shoes with deteriorated linings, ensuring optimal clearance between the brake shoes and the brake drum surface. In operation, when the brake pedal is engaged, air enters the brake chamber, propelling the pushrod outward. This action triggers the movement of the automatic slack adjuster, ultimately leading to the vehicle’s cessation. These factors collectively contribute to elevating the growth of the automatic slack adjusters segment within the global automotive slack adjuster market during the forecast period.
Geography Overview:
APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Anticipated growth in the automotive slack adjuster market within the region is attributed to the significant prevalence of rear-end collisions, particularly in the burgeoning economies of China and India. The escalating safety consciousness among regional consumers further bolsters this market’s expansion. Established nations such as Japan, Australia, and China are progressively integrating automatic emergency braking systems. Notably, Japan leads in the adoption of automatic emergency braking (AEB) systems, with numerous brands incorporating such systems across their vehicle lineup. This trend is poised to serve as a driving force for the APAC automotive slack adjuster market during the forecast period.
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Recent trends influencing the market
Integration of advanced safety technologies in passenger vehicles to gain higher safety ratings is the key trend shaping the growth of the global automotive slack adjuster market.
Major challenges hindering the market growth
Increasing cost pressures on OEMs is the significant challenge that hinders the growth of the global automotive slack adjuster market.
Driver, Trend and challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, Find more insights from a sample report!
What are the key data covered in the Automotive Slack Adjuster Market reports:
Historic Market size
Company landscape and analysis including Accuride Corp., Alon Automotive SL, Aydinsan, Cummins Inc., EnPro Industries Inc., Ferdinand Bilstein GmbH + Co. KG, Knorr-Bremse AG, Longzhong Holding Group Co. Ltd., MarkLines Co Ltd., MEI Brakes Ltd., Ningbo Heli Brake Systems Co Ltd., SAF HOLLAND SE, TSE Brakes Inc., Wabtec Corp., ZF Friedrichshafen AG, Zhejiang Aodi Machinery Manufacturing Co., Ltd., Zhejiang Lujie Machinery Co Ltd., ZHEJIANG ROADAGE MACHINERY CO. LTD., Zhejiang VIE Science and Technology, and Zhejiang VOB Technology Co Ltd.
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Automotive Slack Adjuster Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.37% |
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Market growth 2023-2027 |
USD 639.33 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
5.29 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 44% |
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Key countries |
US, Canada, China, Japan, and India |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accuride Corp., Alon Automotive SL, Aydinsan, Cummins Inc., EnPro Industries Inc., Ferdinand Bilstein GmbH + Co. KG, Knorr-Bremse AG, Longzhong Holding Group Co. Ltd., MarkLines Co Ltd., MEI Brakes Ltd., Ningbo Heli Brake Systems Co Ltd., SAF HOLLAND SE, TSE Brakes Inc., Wabtec Corp., ZF Friedrichshafen AG, Zhejiang Aodi Machinery Manufacturing Co., Ltd., Zhejiang Lujie Machinery Co Ltd., ZHEJIANG ROADAGE MACHINERY CO. LTD., Zhejiang VIE Science and Technology, and Zhejiang VOB Technology Co Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Geography
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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SOURCE Technavio