Automotive Slack Adjuster Market Size, Share & Industry Analysis, By Type (Manual Slack Adjuster, Automatic Slack Adjuster), By Application Type (Bus, Truck, Others) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Automotive slack adjuster is a significant part of the foundation brake of the vehicle that helps maintain a proper distance between the brake shoes and the surface of the brake drums. It acts as a lever that connects the camshaft and the actuator. This device is usually used in commercial vehicles having air brakes with camshaft. They transmit the braking torque to the camshaft and adjust the gap created between the brake lining and the brake drum which is generated by the wearing of the brake linings. The slack adjuster can be adjusted either manually or automatically. Both the slack adjusters perform the same function unlike the automatic slack adjuster automatically adjusts for brake lining wear and the manual slack adjuster requires a periodic manual adjustment. These adjusters are gaining high traction and are becoming a set standard for the automotive industry as they provide high reliability and consistent operation. This lowers the downtime and operating costs thus increasing the profit ratio.
Key Market Driver -
Rise in the demand for advanced braking systems and increase in the sales and production of vehicles are expected to drive the growth of market in the forecast period.
Key Market Restraint -
High cost associated with advanced braking system may hinder the growth of the market during the forecast period.
Market Segmentation:
Globally, the automotive slack adjuster market is segmented by type, by application type, and by geographic coverage. The slack adjuster type is further segmented into manual slack adjuster and automatic slack adjuster. The automatic slack adjuster holds the major share in the global market. The automatic slack adjuster automatically adjusts the brake shoe where the lining of the brakes has worn out so that the brake shoes maintains an appropriate distance from the surface of the brake drums. Owing to the advantages of automatic slack adjuster, many countries are imposing regulations to promote their application in vehicles. Thus, the automatic slack adjuster market is expected to grow faster as compared to manual slack adjusters. The application type is further segmented into bus, truck and others. The automotive slack adjusters are generally applied to commercial vehicles having air brakes. Trucks and buses consists of air brakes and thus use of slack adjusters are maximum in these vehicles. Asia Pacific and North America are the major regions having high number of buses and trucks. Therefore, the slack adjuster market is expected to boost rapidly in these regions.
Key Players:
Major players operating in the global automotive slack adjuster market include Knorr-Bremse AG, ACCURIDE INTERNATIONAL INC., Aydınsan, Meritor, Inc., Longzhong Holding Group Co.,LTD, Ferdinand Bilstein GmbH, and WABCO among others.
Key Insights
- New Advancements in automotive slack adjuster
- Number of Products, Key Countries, 2019
- New Product Launches, Key Player
Regional Analysis:
Geographically, the automotive slack adjuster market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific holds the largest share in the global automotive slack adjuster market owing to the high growth rate of automobile production coupled with the rapid development in the automotive industry. Developing as well as developed countries such as India, China, Japan, and South Korea are the major contributors in the adoption of slack adjusters owing to the high sales and production of vehicles. Moreover, the high demographic growth, expansion of the industrial sector as well as rise in the purchasing power are the primary factors for the growth in the number of vehicles in this region. Therefore, the rise in the demand for slack adjusters is directly proportional to the high sales of vehicles in this region. North America holds the second largest share in the global market owing to the high share in the commercial vehicle market in terms of volume.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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