The manufacturing of passenger vehicles, vans, and light trucks is one of the main factors propelling the growth of the global manual slack adjuster market. Rising sales of medium and heavy passenger trucks used in automotive engines are also projected to continue to play a significant role in the development of the industry as a whole. Over the projected period, it is anticipated that the introduction of cutting-edge technologies including electronic brake force distribution (EBD), anti-lock braking systems (ABS), and regenerative brakes with higher efficiency will drive product demand. Additionally, the expanding use of manual slack adjusters because of their inexpensive installation cost has fueled their market dominance due to the growing trend toward cost restraint among vehicle makers.
By ensuring that there is an appropriate amount of slack between the brakes, manual slack adjusters aid in adjusting the position of the brakes. Slack can be added or removed using slack adjusters, depending on where it comes from or where it is added to the brake system. Linkages, threaded rods, and other parts that are used in manual slack adjusters are in charge of manually or electronically adjusting brakes. Due to the fact that they require less physical labour, they help save vehicle maintenance expenses.
Manual slack adjusters are tools used to manually adjust a car's brake system and help keep the right distance between the brakes. It operates on the idea that when a car is moving, all of its components—including the brakes—move along with it. When necessary, the Manual Slack Adjuster adjusts the brakes manually using linkages, threaded rods, and other parts. This makes it more likely that the brakes will function well and effectively on extended travels or in challenging terrain. Due to the fact that they require less manual labour than other solutions, they also assist in lowering the costs associated with vehicle maintenance.
The market for manual slack adjusters is anticipated to increase at a CAGR of 4.8% from 2021 to 2031, from a value of USD 858.6 million in 2021 to USD 1,313.1 million in 2031. The rise in the need for manual slack adjusters in the automotive industry in developing nations is blamed for the expansion.
There are various obstacles in the way of the manual slack adjuster market. Its high price, which prevents its acceptance in both commercial vehicles and passenger cars, is the market's main obstacle. Consumers' ignorance about these products is another issue the market must deal with. The expansion of this market is further constrained by severe government restrictions relating to safety standards. Additionally, the sales and availability of these components are constrained by supply-side bottlenecks caused by a small number of vendors in diverse locations. Additionally, the market for manual slack adjusters is impacted by the need for installation and maintenance services, which raises their costs. Meanwhile, the market for manual slack adjusters is anticipated to see new growth prospects due to technological developments and rising investments in the automobile industry.
The 10 teeth Segment emerged as the Most Lucrative Type
The 10 teeth, 3 teeth, and other segments of the worldwide manual slack adjuster market are separated according to type. Due to its simplicity of installation and usage during vehicle assembly as well as for vehicle maintenance, the 10 teeth sector retained the greatest share in 2020. During the forecast period, 2021–2031, the category with 10 teeth is anticipated to have the greatest market size with a CAGR of 4.9%.
The Most Prominent Application is the Passenger Cars Segment
The Manual Slack Adjuster Market is segmented into Passenger Cars, Trucks, trailers, and Others based on application. The passenger cars sector is anticipated to have the highest market share among these groups in terms of value. The demand for premium cars with cutting-edge suspension systems is rising, which is fueling the expansion of this market. Due to their longevity and accuracy in controlling the automotive suspension system, manual slack adjusters are employed in the suspension system of automobiles. Additionally, this industry is anticipated to develop as commercial and private vehicle manufacturing rises.
The APAC Region to render Ample Financing Opportunities
The market for manual slack adjusters is segmented into five geographic markets: North America, South America, Asia Pacific, Europe, and the Middle East & Africa. During the projection period, the Asia-Pacific region is anticipated to be the largest and fastest-growing market. This can be ascribed to the region's increased vehicle production as well as the rising demand for comfort features in suspension systems. Additionally, the focus of automotive manufacturers on significant investments in R&D activities and rising disposable income are anticipated to boost the growth of this market in the Asia-Pacific region. The existence of significant car component manufacturers is also promoting the growth of the manual slack adjuster industry.
COVID-19 Impact and Market Status
The COVID-19 epidemic has had a significant negative influence on the market for manual slack adjusters, resulting in a drop in worldwide production and transportation. Disruptions in the supply chain have also made it more difficult to distribute goods correctly. However, there is a growth in the need for trucks as a result of government efforts and expenditures in infrastructure projects like roads, which would cause an increase in demand for manual slack adjusters. The market is anticipated to be driven by this trend from 2021 to 2031. Additionally, the expansion of the market may be hampered by increased investments in the creation of automatic slack adjusters for heavy-duty vehicles.
Wabco Holdings Inc., Meritor, Inc., BorgWarner Inc., Dana Incorporated, CIMCORP Automation Ltd, Continental AG, KNORR-BREMSE Group, ZF Friedrichshafen AG, Hendrickson USA LLC, and SAF Holland are some of the leading industry participants in the manual slack adjuster market. These businesses have a significant position in the worldwide manual slack adjuster market thanks to their product lines and clever alliances with producers of automobile parts.
Recent Developments in the Manual Slack Adjuster Market
• Hendrickson International, a top producer of heavy-duty axles, brakes, suspensions, and components for the commercial vehicle sector, unveiled a line of lightweight slack adjusters in May 2019. An aluminium and composite version with 10 teeth and a stainless steel version with 3 teeth were both parts of the new product line.
• The new MSA-50 Manual Slack Adjuster was introduced in March 2020 by Meritor, a top global provider of powertrain and mobility solutions for commercial vehicles. One of the few manual slack adjusters on the market with such a high tooth count is this one, which has 50 teeth. The product's goal is to improve commercial vehicles' performance while lowering maintenance expenses.
• A leading provider of solutions for commercial vehicles, Fontaine, announced the introduction of its line of manual slack adjusters in July 2021. For trucks, trailers, and buses, the new product line comprises 16-tooth and 18-tooth variants with one-handed adjustable spring tension.
Manual Slack Adjuster Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 1,313.1 million|
|Growth Rate||CAGR of 4.8% during 2022-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Wabco Holdings Inc., Meritor, Inc., BorgWarner Inc., Dana Incorporated, CIMCORP Automation Ltd, Continental AG, KNORR-BREMSE Group, ZF Friedrichshafen AG, Hendrickson USA LLC, and SAF Holland are some|
Key Segments of the Manual Slack Adjuster Market
Type Overview, 2021-2031 (USD Billion)
- 10 Teeth
- 3 Teeth
Application Overview, 2021-2031 (USD Billion)
- Private Farms
- Large Agribusiness
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa