The global Automotive Bushing Market is projected to grow from an estimated USD 132.20 billion in 2018 to USD 175.31 billion by 2025, at a CAGR of 4.11% during the forecast period. The growth of the automotive bushing market is influenced by factors such as increasing vehicles production and sales.
The governments of several countries have made stringent regulations for the use of basic safety products such as seatbelts and airbags. In the US and Europe, the governments have already implemented regulations related to safety features that are mandatory for all vehicles and are thus followed by automakers. The inclusion of advanced safety features and a rise in demand for ride quality will create several opportunities for automotive bushing suppliers. It will increase the demand for bushings in the automotive industry.
The Asia Pacific region is estimated to be the fastest growing market, in terms of value, for automotive bushings. Significant growth in the total sales volume of automobiles is the major growth driver for the automotive bushing market in this region. Interior bushings are expected to be the fastest growing segment, by value. Rising demand for ride quality and safety would drive the growth of interior bushings in the coming years.
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In an effort towards the weight reduction of a vehicle, automotive engine manufacturers are offering small and compact engines that are lightweight. This provides an opportunity for bushing manufacturers to supply complex, special engineered bushings made from materials that can maintain performance under high heat levels. Also, growing opportunities in the autonomous and semi-autonomous car technology will benefit the bushing market. The global electric vehicle industry has witnessed incredible growth in recent years. Government regulations for emission and fuel economy, price reduction of the vehicle, and subsidies to electric vehicle manufacturers to reduce the production cost have driven the growth of electric vehicles equipped with batteries, which in turn will increase the demand for automotive bushings.
- Manufacturers of automotive bushings
- Automotive OEMs
- Electric vehicle manufacturers
- Industry associations and experts
- Traders, distributors, and suppliers of automotive bushings
Scope of the Report
- Automotive Bushing Market, By Application
Some of the major market players operating in the AUTOMOTIVE BUSHING MARKET are Federal-Mogul (US), Oiles Corporation (Japan), Freudenberg Group (Germany), Cooper Standard Holdings Inc. (US), ZF Friedrichshafen AG (Germany), Tenneco Inc. (US), Continental AG (Germany), CRRC Corporation Limited (China), and Benara Udyog Limited (India).
Sumitomo, Continental AG, and ZF are the dominant players in the automotive bushing market. The extensive competition in the automotive industry has compelled these companies to upgrade their existing systems and processes. These players have adopted various strategies to diversify their global presence and increase their market shares.
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