Automotive Slack Adjuster Market to grow by USD 639.33 million from 2022 to 2027, Rising emphasis on road safety and the need to reduce accidents to boost the market growth- Technavio

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

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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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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