Market Research Blog

The global automatic slack adjusters market is estimated to surpass a valuation of US$ 3,500 Mn by the end of 2032. The sales of automatic slack adjusters in the global market are estimated to total US$ 850 Mn by 2022, exhibiting growth at a CAGR of around 4% to 5% during the forecast period 2022-2032.

Automatic slack adjusters, also known as automotive slack adjusters are integral components of foundation brake systems such as drum braking systems, placed between the braking drum and brake lining. They act as a lever, forming a connection between the camshaft and the actuator.

The function of automatic slack adjusters is to compensate for wear in both brake drum and brake lining while providing a constant stroke of the actuator. These slack adjusters prevent linings of the breaks from rubbing by maintaining a distance through a cable and spring mechanism. They also assist in reducing the clearance between the brake drum and brake shoes. When the brake pedal is pressed, the air goes into the brake chamber, forcing the pushrod out and moving the automatic slack adjusters, resulting in the stoppage of the vehicle.

Automatic slack adjusters are gaining huge popularity across the automotive industry, on account of their ability to enhance the braking experience, reduce tire wear and tear of the vehicle, increase the overall life of a vehicle braking system, and provide consistent operations.

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Which are Some Prominent Drivers Spearheading Automatic Slack Adjusters Market Growth?

Over the last couple of years, immense transformation is being witnessed across the automotive industry, favored by globalization and consistent technological advancement worldwide. Besides this, rising disposable income across the population and growing customer spending on comfort traveling, especially across developed economies have resulted in a significant rise in the production and sales of automotive vehicles.

For instance, according to a report published by the Bureau of Transportation Statistics, approximately 2.51 Mn passenger cars were manufactured and around 3.54 Mn passenger cars were sold across the U.S. in the year 2019. In automobiles such as passenger cars and commercial vehicles, automatic slack adjusters play a vital role, as they assist in braking and are an integral part of the braking system providing high reliability.

Thus, increasing sales and production of automotive vehicles are estimated to facilitate the demand for automotive components such as automotive braking systems including automatic slack adjusters, creating lucrative opportunities for growth in the global market.

As the demand for advanced braking systems continues to surge, prominent companies in the market are extensively focusing on research and development of novel automatic slack adjusters with high-performance attributes. This is anticipated to accelerate the sales in the global market over the forthcoming years.

What are the Challenges Faced by the Automatic Slack Adjusters Market?

Customers are increasingly inclination towards adopting electric vehicles, due to rising concerns regarding environmental sustainability, growing fuel prices, and favorable government policies. For instance, according to the International Energy Agency (IEA), around 2.1 million electric cars were sold worldwide in 2019, exhibiting exponential year-over-year growth of 40%. This is projected to hinder the sales of automatic slack adjusters.

Also, increasing launch of novel automotive vehicles with alternative breaking systems such as disk brakes is estimated to further hamper the growth in the global automatic slack adjuster market.

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Why is Asia Pacific Excluding Japan Emerging as an Opportunistic Automatic Slack Adjusters Market?

As per FMI, Asia Pacific excluding Japan is forecast to exhibit robust growth in the global automatic slack adjuster market between 2022 and 2032.

With rapid industrialization and growing urbanization, governments in several countries are emphasizing on undertaking numerous initiatives to strengthen transportation infrastructure and urbanize rural areas. For instance, the Government of India has announced launching rural area urbanizing missions such as Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and ‘Housing for All’ under Pradhan Mantri Awas Yojana.

Launch of such initiatives have substantially increased the infrastructure development and construction activities in the countries such as China, South Korea, Australia, and others, creating strong demand for lightweight commercial vehicles and heavy-weight commercial vehicles. As automatic slack adjusters are extensively used in air braking systems deployed in these automobiles, such developments will bolster the sales in the Asia Pacific excluding Japan market.

How is North America Contributing to the Growth of the Automatic Slack Adjusters Market?

Future Market Insights reveals that North America is anticipated to account for a significant share in the global automatic slack adjuster market during the forecast period 2022-2032.

Leading players in the market are aiming at manufacturing efficient and result-oriented automatic slack adjusters for advanced lightweight braking systems to provide heat dissipation properties and high structural strength.

For instance, in 2019, Bendix Corporation, an American manufacturer of braking systems and components, announced introducing a novel grounded automatic slack adjuster, Bendix® Versajust® for vehicles in specialty applications for providing improved brake lining life, drum life, and fuel efficiency. A slew of such new product launches is projected to favor the growth in the North America market.

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Market Competition

Some of the leading players in the automatic slack adjusters market are Haldex Brake Products Corp., WABCO INDIA LIMITED, Bendix Spicer Foundation Brake LLC., Accuride Wheel End Solutions, BPW Limited, Ferdinand Bilstein GmbH, Superior Industrial Frictions Ltd., STEMCO Products Inc., TSE Brakes Inc., Meritor, Inc., and others.

Attributed to the presence of such high number of participants and growing research and developments (R&D) activities for innovation in automatic slack adjusters, the market is highly competitive.

Key Segments Profiled in the Automatic Slack Adjusters Market Survey

By Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Technology:

• Manual
• Automatic

By Material:

• Forged Steel
• Ductile Iron
• Others

By Install Position:

• Front Axle
• Rear Axle
• Front & Rear Axle

By Sales Channel:

• Original Equipment Manufacturers (OEMs)
• Aftermarket

By Distribution Channel:

• Online
• Offline

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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The global aero structure equipment market is estimated to create an absolute incremental opportunity of more than US$ 430 Mn by the end of 2032. The sales of aero structure equipments are expected to exceed US$ 210 Mn by 2022, exhibiting growth at a CAGR of 8% to 9% during the forecast period 2022-2032.

Increasing implementation of stringent regulations regarding the testing of aircraft and helicopters, due to growing instance of component malfunctions, is increasing the adoption of aero structure equipments across testing applications. This is projected to bolster the demand for in the global aero structure equipments market.

Aero structures are considered to be key components in an aircraft’s airframe, including part of the flight control surfaces, empennage, wings, fuselage, and landing gear among others. Companies that specialize in the manufacturing of these equipments are commonly referred to as aero structure manufacturers.

Numerous leading aerospace companies with a more diversified product range and increasingly investing in expanding their aero structures manufacturing capacities and adopting innovative technologies for declining the overall weight of the aero structures. In addition to this, increasing advancements in technologies such as nano-technology has boosted the introduction of novel lightweight materials that can be embedded in alloys of aluminum and deployed in aircraft structures such as wings, empennage, and other. This is estimated to augment the growth in the global aero structures equipment market.

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Which are Some Prominent Drivers Spearheading Aero Structure Equipment Market Growth?

Over the past couple of years, the aviation industry has witnessed rapid expansion, excluding the COVID-19 period. A substantial rise in number of passengers traveling via airplane is being registered, owing to the growing inclination towards fast and comfortable traveling.

According to a study by the International Civil Aviation Organization, the number of passengers using air travel increased to 4.3 billion in 2018, exhibiting a growth of around 6.4% in comparison to the passengers in 2017. With this rise in air travel passengers, leading commercial airline companies are emphasizing on expanding their fleet to capitalize on the existing opportunities, creating strong demand for aircraft components.

For instance, in 2021, Kuwait Airways, the national carrier of Kuwait announced its plan of expanding its airplane fleet by purchasing 31 new jets from Airbus (AIR.PA), including nine A320neos, seven A330-900neos, six A321 neos, four A330-800 neos, three A321neo-LRs, and two A350-900s. This rise in sales of aircraft is estimated to propel the demand for aircraft components including aero structure equipment, thereby, accelerating the growth in the global market.

What are the Challenges Faced by the Aero Structure Equipment Market?

Although the aero structure equipment market is registering robust growth, increasing gap between additive and subtractive manufacturing is projected to create immense challenges for the market growth in the coming years.

In addition to this, to curb the prevalence of airplane and helicopter crashes due to malfunctioning of aircraft components such as empennage, regulatory organizations across the world are launching stringent guidelines and standards for novel material and products launches used in aircrafts. This is restraining the growth in the global aero structure equipment market.

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Why is Asia Pacific Excluding Japan Emerging as an Opportunistic Aero Structure Equipment Market?

As per FMI, Asia Pacific excluding Japan is estimated to account for a leading share in the global aero structure equipment market during the forecast period 2022-2032.

In the last few years, a swift rise in border and territorial conflict is being witnessed among and with Asia Pacific countries such as India – Pakistan, the U.S. – Afghanistan, China – India, and others. Hence, governments of above-mentioned countries are focusing on strengthening their military and defense sector and heavily investing in the purchase of new cavalries such as aircraft, naval ships, ammunitions, and others.

For instance, according to PRS Legislative Research Organization, the Indian Government has announced allocating US$ 14.17 Bn, which is 23% of the national budget, for the purchase of fighter jets, helicopters, defense equipment, and others under in 2020-21. Such initiatives are estimated to accelerate the sales of aircraft such as fighter jets, flying drones, helicopters, and others, thereby, bolstering the demand for aircraft components including aero structure equipments in the Asia Pacific excluding Japan market.

How is Western Europe Contributing to the Growth of the Aero Structure Equipment Market?

Future Market Insights reveals that Western Europe is expected to register growth at a robust CAGR in the global aero structure equipments market from 2022 to 2032.

With rapidly expanding aviation sector and rising number of passengers traveling through airplanes, demand for novel low-cost airplanes is increasing at a rapid pace. Hence, leading aircraft manufacturers are increasingly aiming at entering into agreements and collaborating with airline companies to cater to the surging demand.

For instance, in 2019, Airbus, a multinational aerospace corporation headquartered in the Netherlands announced entering into a collaboration with the national development and reform commission of China for developing wide-body and single-aisle aircraft. A multiplicity of such developments are anticipated to favor the sales in the Western Europe market.

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Market Competition

Some of the leading players in the aero structure equipment market are Electrolmpact Inc., Gemcor (Ascent Aerospace), KUKA Systems, Broetje Automation GmbH, Sener Group, Reel, MTorres Diseños Industriales, Loxin, others.

Leading manufacturer in the global aero structure equipment market are aiming at launching novel high performance products using nanotechnology to gain edge in the highly competitive market.

Key Segments Profiled in the Aero Structure Equipment Market Survey

By Equipment Type:

• Automated Production System
• Fastening Systems
• Composite Systems
• Automated Assembly Systems
• Stations/Lines
• Conveyor System
• Small Tools
• Service Offering

By Aircraft Body Type:

• Small Body Aircraft Aero Structure Equipment
• Wide Body Aircraft Aero Structure Equipment
• Very Large Body Aircraft Aero Structure Equipment
• Regional Aircraft Aero Structure Equipment

By Type:

• Commercial
• Military
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan
• Japan
• Middle East and Africa

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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The use of high-quality fuses in automobiles has been regarded as essential in government, business and safety solutions. Accordingly, automobile manufacturers are obliged to build automotive fuse blocks to systematically install fuse bundles for each vehicle type. As technology, safety, and the use of electronics in cars become more sophisticated than ever in the fast-paced automotive industry, automotive fuse blocks that control lights, displays, door locks, computer ignition controls, entertainment systems, and more have evolved. .

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With the increasing number of Light Commercial Vehicles (LCVs) entering the market, the automotive fuse block market in North America is expected to grow with a significant share globally. By the end of 2028, North American LCV production is expected to increase 1.3 times in the market.

The global implementation of COVID-19 has reduced automotive demand worldwide, which in turn has led to a decline in automotive fuse block production. Declining sales of raw materials and automobiles have led to a sharp decline in automotive fuse blocks in the market.

Is Europe becoming an opportunity market for automotive fuse blocks?

Owing to the rapid growth of automobiles in Europe, the automotive fuse block market is expected to remain the largest during the forecast period. Sales of automatic fuse blocks are expected to increase during the forecast period as vehicle production increases and advanced safety features such as emergency braking systems, accident data recorders, etc. are mandated by Western European governments.

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Key Segments Profiled in Automotive Fuse Blocks Industry Survey

Fuse Type:

• leaf
• semiconductor
• glass tube

Circuit Type:

• 2-4 circuit
• 4-8 circuits
• 8-12 circuits
• 12 or more circuits

Voltage Type:

• 12 volts
• 24 volts
• 48 volts
• 48 volts or more

Material Type:

• steel
• alloy material

Vehicle type:

• car
• Light commercial vehicle (LCV)
• Heavy commercial vehicle (HCV)
• garden truck
• battery electric vehicle
• hybrid electric vehicle
• plug-in hybrid vehicle

Sales Channel Type:

• OEM
• aftermarket

region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa

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market competition

The major players present in the global automotive fuse block market are Littlefuse, Inc., HELLA New Zealand Limited, Prakant Electronics Pvt.Ltd., Cooper Bussmann, Inc., Huizhou HINEW Electric Appliance Co., Ltd., OMEGA FUSIBILI SpA There is. , Anupam Industries, MUD-UK and MTA SpA

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
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