Automotive Slack Adjuster Market Forecasts to 2028 – Global Analysis By Type (Automatic and Manual), Material (Ductile iron and Forged Steel), Vehicle, Install Position, Distribution Channel, Sales Channel and By Geography
According to Stratistics MRC, the Global Automotive Slack Adjuster Market is accounted for $719.10 million in 2020 and is expected to reach $984.14 million by 2028 growing at a CAGR of 4.0% during the forecast period. Increasing demand for advanced braking systems and rise in production and sales of vehicle across the globe are driving the market growth. However, manufacturing and assembly costs are very high which are hampering the growth of the market.
Automotive slack adjuster is an essential component that regulates the distance of brake shoes from the surface of the brake drums. As the brake shoes and the brake drums wear down, the automatic slack adjusters will automatically adjust the brake shoes so that they remain at proper distance from the drums.
Based on the type, the automatic segment is going to have lucrative growth during the forecast period. An automatic slack adjuster adjusts the brake shoe automatically whenever the lining of the brakes has worn which is the reason for many countries imposing regulations to promote their application in vehicles, contributing to the market growth.
By geography, Asia Pacific is going to have high growth during the forecast period which can be attributed to the high growth rate of automobile manufacturing in the region along with rapid advancements in the industry. Countries such as Japan, China and India are the major contributors to the market growth.
Some of the key players profiled in the Automotive Slack Adjuster Market include Accuride International Inc., Aydinsan Fren Circirlari, Bendix Commercial Vehicle Systems LLC, Ferdinand Bilstein GmbH, Haldex AB, Meritor, Inc., Hubei Aosida, Longzhong, Meritor, Ningbo Heli, Roadage, Stemco is a Longview, Suzhou Renhe, WABCO Vehicle Control Systems, Zhejiang Aodi and Zhejiang Vie Science & Technology Co., Ltd.
Estimated Market Size in 2020:
USD 719.10 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 984.14 million
Tables, Graphs & Figures
Type, Material, Vehicle, Install Position, Distribution Channel, Sales Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Ductile Iron
• Forged Steel
• Heavy Commercial Vehicles
• Light Commercial Vehicles
• Passenger Cars
Install Positions Covered:
• Front & Rear Axle
• Front Axle
• Rear Axle
Distribution Channels Covered:
Sales Channels Covered:
• Original Equipment Manufacturers (OEMs)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Automotive Slack Adjuster Market is majorly driven by increasing demand for advanced braking systems and rise in production and sales of vehicle across the globe.
The automatic segment is growing at a highest CAGR owing to government regulations in many parts for the promotion and implementation of automatic systems over the manual type of slack adjusters.
Asia Pacific dominated with a significant market share due to the factors such as high growth rate of automobile manufacturing in the region along with rapid advancements in the industry. Countries such as Japan, China and India are the major contributors to the market growth.
North America market is growing at a highest CAGR owing to the high share of the region in the commercial vehicle market in terms of volume.
Key players in Automotive Slack Adjuster Market include Accuride International Inc., Aydinsan Fren Circirlari, Bendix Commercial Vehicle Systems LLC, Ferdinand Bilstein GmbH, Haldex AB, Meritor, Inc., Hubei Aosida, Longzhong, Meritor, Ningbo Heli, Roadage, Stemco is a Longview, Suzhou Renhe, WABCO Vehicle Control Systems, Zhejiang Aodi and Zhejiang Vie Science & Technology Co., Ltd.
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