Global Automatic Slack Adjuster Market By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), Technology (Manual and Automatic), Material (Forged Steel, Ductile Iron and Others), Install Position (Front Axle, Rear Axle and Front and Rear Axle), Sales Channel (Original Equipment Manufacturers (OEMs) and Aftermarket), Distribution Mode (Online and Offline), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Automatic Slack Adjuster Market
Data Bridge Market Research analyses that the automatic slack adjuster market would exhibit a CAGR of 4.50% for the forecast period. Rising demand for passenger vehicles, especially in the developing economies, increasing focus of the manufacturers towards technological advancements, and increased in the demand for advanced braking systems are the two major factors attributable to the growth of automatic slack adjuster market.
This signifies that, the global automatic slack adjuster market, which was USD 785.40 million in 2020, would stand tall by USD 3,286.62 million by the year 2028.
Automatic slack adjuster is a component of vehicle’s braking system that helps to maintain proper distance between the brake shoes and surface of the brake drums. The device is particularly used in commercial vehicles that have airbrakes with camshaft.
Increased production and sales of vehicles owing to rising population and personal disposable income has resulted in growth in the automatic slack adjuster market value. An increase in the demand for passenger vehicles incorporated with advanced technologies will also create lucrative growth opportunities for the automatic slack adjuster market. Overall growth and expansion of automotive industry coupled with increased industrialization will also foster the automatic slack adjuster market growth. Stringent safety regulations imposed over the manufacturers will also propel the automatic slack adjuster market growth rate.
However, high costs associated with advanced braking systems will pose a major challenge to the automatic slack adjuster market growth rate. Also, the rising application of disc brakes in passenger vehicles will hamper the automatic slack adjuster market growth rate.
This global automatic slack adjuster market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automatic slack adjuster market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automatic Slack Adjuster Market Scope and Market Size
The global automatic slack adjuster market is segmented on the basis of vehicle type, technology, material, install position, sales channel, and distribution mode. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of vehicle type, the automatic slack adjuster market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
- On the basis of technology, the automatic slack adjuster market has been segmented into manual and automatic.
- Based on material, the automatic slack adjuster market has been segmented into forged steel, ductile iron, and others.
- On the basis of install position, the automatic slack adjuster market has been segmented into front axle, rear axle, and front and rear axle.
- The automatic slack adjuster market has also been segmented on the basis of sales channel into aftermarket original equipment manufacturer (OEMs).
- The automatic slack adjuster market has also been segmented on the basis of distribution mode into online and offline.
Global Automatic Slack Adjuster Market Country Level Analysis
The global automatic slack adjuster market is analysed, and market size insights and trends are provided by country, type, vehicle type, technology, material, install position, sales channel and distribution mode as referenced above.
The countries covered in the automatic slack adjuster market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the automatic slack adjuster market and will continue to flourish its trend of dominance during the forecast period. This is because of the increased focus of the manufacturers in this region over technological advancements. Increased production and sales of vehicles especially in developing economies like India and China, owing to the ever-rising population and increasing personal disposable income is another factor fostering the growth of market in this region.
The country section of the automatic slack adjuster market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Automatic Slack Adjuster Market Share Analysis
The automatic slack adjuster market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automatic slack adjuster market.
The major players covered in the automatic slack adjuster market report are Knorr-Bremse AG, Haldex, Meritor, Inc., WABCO, STEMCO Products Inc., ACCURIDE INTERNATIONAL INC., Ferdinand Bilstein GmbH + Co. KG, Zhejiang VIE Science & Technology, Zhejiang Aodi Machinery Manufacturing Co., Ltd., MEI Brakes., MarkLines Co., Ltd., Longzhong Holding Group Co.,LTD., ZHEJIANG ROADAGE MACHINERY CO.,LTD, SUZHOU RENHE COMMERCIAL EQUIPMENT CO., LTD., Ningbo qicai Tech Ltd, Superior Industrial Frictions Ltd., TSE Brakes Inc., and BPW Limited among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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