Global Automotive Bushing Technologies Market Size, Share, Forecast Report, 2020-2027
The automotive bushing is a type of bearing that is cylindrical lined in design and is used to reduce friction and wear within a hole. They are most often used as a casting for pin, hinge or shaft. In most of the time, it is used as a vibrator isolator, which damps the movement and transmits the energy. Automotive bushings are commonly made of rubber, due to its flexibility in use. Automotive bushing technologies are most useful in suspension application.
Global automotive bushing technologies market has seen remarkable growth; expected to rise with the CAGR of ~4.86%. The presence of bushing technologies in the vehicle adds to the comfort and luxuries to the occupant by minimizing bumps and vibrations during the ride. Growing concerns about vehicle comfort and vehicle noise or vibration are the major driving factors for the automotive bushing technologies market. Additionally, demand for a smooth and efficient ride will further boost the market revenue during the forecast period. The rise in the sales of luxury vehicles and comfort sports vehicles will create opportunities for new entrants. For the last few years, an increase in sales of advanced vehicles and a rise in the need for anti-vibration parts in the vehicle open up new opportunities for new manufacturers and influence the growth over the forecast period. Globally, there is an increase in the growth of the auto component industry, which plays a significant role in the growth of the automotive bushing technologies market. However, continuous fluctuation in the price of raw materials and their availability will be the major challenges for the global automotive bushing technologies market. High competition in the market for the automotive bushing technologies in the automotive component industry will be a huge concern for the manufacturers.
Global automotive bushing technologies market is segmented on the basis of type, materials, sales channel, vehicle type, and region. On the basis of type, the market has been segmented into damper bushings, bump stops, top mounts, suspension arm bushings, subframe bushings, and PT mounts. On the basis of material, the market has been segmented into rubber and polyurethane. On the basis of sales channel, the market has been segmented into OEM and aftermarket. On the basis of vehicle type, the market has been segmented by passenger cars, light commercial vehicle, and heavy commercial vehicle.
Geographically, the global automotive bushing technologies market has been segmented into the four major regions of North America, Europe, Asia Pacific, and Rest of the World. Among all regions, Asia Pacific is expected to dominate the market during the forecast period followed by Europe. Increase in the number of vehicle sales and high population in countries such as China, and India, will raise the market for automotive bushing technologies during the forecast period. Increased concern regarding safety and vibration in the vehicle will further boost the growth in the market. Strict government standards regarding the vehicle safety will boost the growth for North America and Europe markets.
The prominent players in the automotive bushing technologies market include Federal-Mogul LLC (U.S.), Continental AG (Germany), BOGE Rubbers & Plastics (Damme), and Cooper-Standard Holdings Inc. (U.S.). Hyundai Polytech (India), and Nolathane (U.S.). Paulstra SNC (France), SumiRiko AVS Germany GmbH (Germany), Tenneco Inc. (U.S.), and Vibracoustic GmbH (Germany) are among others.