Industry Insights
The global automotive bushing market size will grow by USD 9.98 billion during 2019-2023 at a CAGR of almost 4%. The growing preference for vehicle lightweighting and in-vehicle comfort and safety and the growing adoption of predictive maintenance technology and component monitoring system are some of the factors expected to drive market growth. This market report provides a detailed analysis of the market by application (suspension and steering, transmission system, and others), vehicle type (passenger cars and commercial vehicles), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bridgestone Corp., Freudenberg SE, MAHLE GmbH, Sumitomo Riko Co. Ltd. and Tenneco Inc.
Automotive bushings are mounted between joints to isolate vibration, minimize wear and tear due to frequent direct contact between two metal components, and absorb shocks due to bumps over a road surface.
Key Insights from Automotive Bushing Market – Global Forecast 2019-2023
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Fleet owners are increasingly adopting predictive maintenance technology and component monitoring system to enhance vehicle reliability and avoid vehicle breakdown and associated costs. Predictive maintenance technology and component monitoring system prevents vehicle breakdown by continuously monitoring the condition of in-service components and alerting the end-user whenever maintenance or replacement of a component is required. The adoption of preventive maintenance technology will also minimize the chances of accidents caused because of the failure of rubber bushings which is subjected to uneven forces and constantly exposed to heat, oil, chemicals, and dust. The increasing production capacities, rising import-export activities, and growing demand for food and beverages have resulted in an increasing number of fleet vehicles and consequently boosted the adoption of predictive maintenance technology and component monitoring system. This has been identified as one of the critical automotive bushing market trends, which will positively influence the growth of the market.
Stringent emission norms have driven vehicle manufacturers to reduce vehicle weight by component downsizing and adopting lightweight materials. Automotive manufacturers are using rubber and polyurethane bushings which are lightweight, to reduce the overall weight of vehicles. These bushings provide cushioning, minimize noise generation, and enhance the safety, comfort, and operability of vehicles. The rising consumer emission about vehicle emission and increasing competition in the automotive sector are compelling manufacturers to adopt lightweighting technologies to enhance vehicle efficiency and in-vehicle comfort. This growing preference for vehicle lightweighting and in-vehicle comfort and safety will fuel the growth of the automotive bushings market at a CAGR of almost 4% during the forecast period.
Industry Analysis
Quantitative Data
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Qualitative Data
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Application Insights
The application segment has been segregated into suspension and steering, transmission system, and others. The suspension and steering segment accounted for the highest automotive bushing market share in 2018. During the forecast period, the suspension and steering and transmission system segments will grow at a faster pace than the overall market. The other segments will grow at a slower pace than the overall market.
The increasing demand for vehicles is expected to fuel the demand for automotive bushings for suspension and steering applications. The demand for rubber bushings is particularly high from vehicle manufacturers because of their high elasticity and shock absorbing capacity.
Regional Insights
APAC accounted for the highest market share in 2018. Though the market’s growth in this region will be slower than the growth of the market in MEA and South America, the region will account for the largest automotive bushing market share throughout the forecast period. China is a key market for automotive bushings in this region.
The rapid increase in demand for vehicles will be a significant factor fueling automotive bushing market growth in APAC. Factors such as the rising per capita income, increasing population, and business expansions by leading vehicle and component manufacturers will also contribute to the growth of the automotive bushings market in this region.
Top Automotive Bushing Manufacturers
The market is fragmented. To help clients improve their position, this automotive bushing market analysis report provides information on the competitive landscape and the products offered by various companies. Moreover, this automotive bushing market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
The report offers a detailed analysis of several leading automotive bushing manufacturers, including:
- Bridgestone Corp.
- Freudenberg SE
- MAHLE GmbH
- Sumitomo Riko Co. Ltd.
- Tenneco Inc.
Segments Covered in the Report
Automotive bushing market by application
- Suspension and steering
- Transmission system
- Others
Automotive bushing market by vehicle type
- Passenger cars
- Commercial vehicles
Automotive bushing market by region
- APAC
- Europe
- MEA
- North America
- South America
Key Highlights of the Automotive Bushing Market Forecast Report for the Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the automotive bushing market size during the next five years
- Precise estimation of the global automotive bushing market worth and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive bushing industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of automotive bushing companies
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