Dublin, Sept. 22, 2023 (GLOBE NEWSWIRE) -- The "Global Automotive Slack Adjuster Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The report on the automotive slack adjuster market provides valuable insights into this industry's growth and trends. Here are some key points from the report:
Market Growth Forecast:
- The automotive slack adjuster market is expected to grow by USD 639.33 million during the forecast period of 2022-2027.
- The market is projected to accelerate at a CAGR of 6.37% during this period.
Market Drivers:
- Rising Emphasis on Road Safety: The growing emphasis on road safety and the need to reduce accidents are significant drivers for this market. Slack adjusters play a crucial role in maintaining the proper functioning of a vehicle's braking system, contributing to road safety.
- Increase in Production and Sales of Commercial Vehicles: The market benefits from the increasing production and sales of commercial vehicles globally. Commercial vehicles require reliable braking systems, including slack adjusters.
- Rise in Demand for Advanced Braking Systems: As the automotive industry continues to innovate, there is a rising demand for advanced braking systems, which includes the adoption of slack adjusters to enhance braking efficiency.
Market Segmentation:
- The automotive slack adjuster market is segmented by type into automatic slack adjusters and manual slack adjusters.
- It is also segmented by vehicle type into heavy commercial vehicles, light commercial vehicles, and passenger cars.
Trends Driving Market Growth:
- Integration of Advanced Safety Technologies: The integration of advanced safety technologies in passenger vehicles to achieve higher safety ratings is identified as a prime trend driving market growth.
- Increasing Demand for Roadway Logistics: The growing demand for logistics services by roadways is contributing to the market's expansion.
- Technological Innovation in the Automotive Industry: Ongoing technological innovation in the automotive industry, including improvements in braking systems, is creating a sizable demand for slack adjusters.
Vendor Analysis:
- The report provides a comprehensive analysis of several leading vendors in the automotive slack adjuster market.
- Notable companies in the market include Accuride Corp., Cummins Inc., Knorr-Bremse AG, SAF HOLLAND SE, ZF Friedrichshafen AG, and others.
Competitive Portfolio
- 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
- Zhejiang VOB Technology Co Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ytdhaa
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