Austin, Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Automotive Bushing Market Share is projected to reach USD 264.30 billion by 2032 and grow at a CAGR of 5.14% over 2024-2032. The key indicators for this growth are the rising trend toward higher-end vehicles is noticeable in emerging economies such as India and China.
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Key Players:
- Oiles Corporation
- ZF Group
- DuPont
- Federal-Mogul LLC
- BOGE Rubber & Plastics
- Sumitomo Riko Company Limited
- Paulstra SN
- Vibracoustic GmbH
- Continental AG
- Mahle GmbH
The major drivers include growing demand in emerging economies.
Also, increased preference for luxury and premium categories of vehicles, which come with higher fittings of bushings that enhance comfort and performance of the vehicle, is also driving this market. This change toward electric vehicles opens up special opportunities since these vehicles need bushes designed to get rid of the unwanted noise and vibration.
Further, new automotive technologies are related to autonomous driving and active safety, which require special bushings for their functioning. With the focus now on more fuel economy and light weight vehicles, this leads to developing new innovative bushing materials and designs that contribute to a reduced weight and enhanced performance.
Passenger cars held a market share of approximately 65% of the total demand.
The reason behind this dominance can be attributed to increased urbanization and rising disposable incomes, thereby increasing a number of personal vehicle ownerships. However, the LCV segment is witnessing tremendous growth in the form of e-commerce and last-mile delivery services. It is likely to grow at a CAGR of 6.2 % in the next five years for the LCV segment. The heavy commercial vehicle segment has been positioned as the next in line for growth, driven by infrastructural development and industrialization.
Automotive Bushing Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 160.50 billion |
| Market Size by 2032 | USD 264.30 billion |
| CAGR | 5.14% CAGR by 2024-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
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| Major Regions Covered |
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The APAC automotive bushing market will be growing at a highest CAGR of 6.10% over 2024-2032.
China, India, and Japan have growing vehicle production, while demand for automotive components such as bushings is increasing. These nations are also massively investing in infrastructure development, especially in the urban areas of these countries, which is again boosting demand for vehicles and thereby bushings. Moreover, the growing premium and luxury vehicle trends in the region are further driving demand for better-quality bushings that provide more comfort, performance, and durability.
Key Trends:
- Higher emphasis on comfort and noise reduction in vehicles has increased the adoption of hydraulic bushing and active bushing technologies.
- Advanced solutions demonstrate superior vibration isolation and noise damping that work together to create a more enhanced driving experience.
- Bushings for EVs come with special designs that account for higher torque and other special characteristics of such vehicles.
- This rise of EVs will thus drive high demand for special bushing products. Lightweighting of the same automotive industry is also promoting lighter, more durable bushing materials like composite and elastomeric blends.
Recent Developments:
- Advancements in the area of elastomers by further developing more robust high-performance elastomers for better durability and vibration isolation.
- Other growing trends include the increasing usage of advanced manufacturing techniques, such as 3D printing, for creating customized bushings with complex geometries.
- Key players are putting tremendous efforts into research and development for the creation of bushings capable of withstanding the harsh operating conditions of EVs that produce high torque and vibration.
- The result of these developments will be the broadening of the market and a shift in the nature of bushing solutions towards being more reliable and efficient.
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Key Takeaways:
- Growth in the demand for the automotive bushing market has recently been driven by vehicle comfort, safety, and performance improvements.
- In particular, suspension bushings have increased their adoption radically to capture a share of more than 50%.
- Another growth catalysing factor is that electric vehicle adoption alone has increased, most of which require special bushings because of their unique weight distribution and operating characteristics.
- Further, innovations in bushing materials, such as hydro-elastic and polyurethane, allow for enhanced endurance, noise reduction, and vibration isolation. This trend in technology is also likely to drive growth in the future, with key focus on high-performance and luxury vehicles.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Feature Analysis, 2023
5.2 User Demographics, 2023
5.3 Integration Capabilities, by Software, 2023
5.4 Impact on Decision-making
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Automotive Bushing Market Segmentation, By Application
- Engine
- Suspension
- Chassis
- Interior
- Exhaust
- Transmission
8. Automotive Bushing Market Segmentation, By Vehicle Type
- Passenger Car (PC)
- Light commercial vehicle (LCV)
- Heavy commercial vehicle (HCV)
9. Automotive Bushing Market Segmentation, By Electric Vehicle Type
- Battery electric vehicle (BEV)
- Hybrid electric vehicle (HEV)
- Plug-in-hybrid electric vehicle (PHEV)
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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