PUNE, India., April 11, 2023 (GLOBE NEWSWIRE) — The Global Automotive Bushing Market The size was valued at USD 155.14 billion in 2022. The market is set to expand from USD 159.18 billion in 2023 to USD 225.98 billion by 2030, exhibiting a CAGR of 5.13% during the forecast period. This can be attributed to the growing popularity of light vehicles and the increase in automotive production. This information is provided by Fortune Business Insights™ in its research report titled “Automotive Bushing Market, 2023-2030”.
Market Drivers and Restraints –
The market share has increased due to the growing demand for light vehicles
One of the major factors fueling the automotive bushing market growth is the growing demand for lightweight vehicles. This is attributed to the fact that automotive manufacturers are emphasizing polyurethane and rubber materials for bushings as it helps in reducing the overall weight of the vehicles.
However, the lack of standardization of automotive bushings can hinder industry expansion, which increases manufacturing costs for OEMs.
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Segment Analysis-
The suspension segment has risen in prominence due to the growing demand for lightweight and luxury vehicles
Based on application, the market is segmented into engine, suspension, interior, chassis, transmission and exhaust. The suspension segment is slated to depict appreciable expansion over the forecast period. This growth can be attributed to the growing popularity of luxury vehicles.
Passenger cars segment to gain traction due to increasing vehicle demand globally
By end-use, the market for automotive bushings is segmented into commercial vehicles and passenger cars. The passenger cars segment is poised to exhibit substantial growth over the forecast period. The increase is due to stricter government regulations on light passenger cars.
On the basis of geography, the market is segmented into North America, Asia Pacific, Europe and Rest of the World.
Competitive landscape-
Major market players enter into collaborative agreements to expand product reach
Major industry participants are focused on launching a series of strategic initiatives such as mergers, acquisitions, and the formation of alliances. These steps have been implemented to strengthen their business position. Some other initiatives include increased participation in trade conferences and development of new products.
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Regional Insights –
Asia Pacific to record appreciable expansion due to well-established automotive components industry
The Asia Pacific automotive bushing market share is set to register substantial growth throughout the forecast period. This can be attributed to increased investment in advanced automotive activities.
The European market is expected to gain significant traction over the forecast period. This is due to increased government investment in advanced activities in the sector.
Report coverage:
The report provides a detailed analysis of the key trends driving the global business scenario throughout the forecast period. It further provides information on the key aspects that will boost the industry scenario over the estimated period. Some other parts of the report include important initiatives taken by major companies to strengthen their industry position.
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List of notables Automotive bushing manufacturers operating in the global market:
- Continental AG (Germany)
- ZF Friedrichshafen AG (Germany)
- Jotex Rubber Industrial Co., Ltd. (Taiwan)
- Sumitomo Ricoh Company Limited (Japan)
- DuPont de Nemours, Inc. (US)
- BOGE Rubber & Plastics (Belgium)
- Vibracoustic SE (Germany)
- Hyundai Polytech India Pvt. Ltd. (India)
- Nolathen (Australia)
- Hutchinson Paulstra (France)
Notable Industry Developments:
July 2022 – Dorman Products Inc. has launched more than 230 new engineering products. This included steering and suspension components. This move will help the company to strengthen its market position.
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Table of Contents:
- introduction
- Research field
- market segmentation
- Research methodology
- Definitions and assumptions
- Executive summary
- Market dynamics
- Market drivers
- Market restrictions
- Market opportunities
- Key insights
- Major Industry Developments – Mergers, Acquisitions and Partnerships
- Porter’s five forces analysis
- PEST analysis
- Technological development
- Impact of Covid-19
- Global Automotive Bushing Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definitions
- Market analysis, insight and forecasting – by application
- Suspension
- Engine
- chassis
- interior
- exit
- transmission
- Market analysis, insights and forecasts – by end-use
- passenger car
- Commercial vehicle
- Market analysis, insights and forecasts – by region
- North America
- Europe
- Asia Pacific
- rest of the world
- North America Automotive Bushing Market Analysis, Insights and Forecast, 2019-2030
- Market analysis, insight and forecasting – by application
- Suspension
- Engine
- chassis
- interior
- exit
- transmission
- Market analysis, insights and forecasts – by end-use
- passenger car
- Commercial vehicle
- Market Analysis – By Country
- Market analysis, insight and forecasting – by application
- Europe Automotive Bushing Market Analysis, Insights and Forecast, 2019-2030
- Market analysis, insight and forecasting – by application
- Suspension
- Engine
- chassis
- interior
- exit
- transmission
- Market analysis, insights and forecasts – by end-use
- passenger car
- Commercial vehicle
- Market Analysis – By Country
- Britain
- Germany
- France
- Rest of Europe
- Market analysis, insight and forecasting – by application
- Asia Pacific Automotive Bushing Market Analysis, Insights and Forecast, 2019-2030
- Market analysis, insight and forecasting – by application
- Suspension
- Engine
- chassis
- interior
- exit
- transmission
- Market analysis, insights and forecasts – by end-use
- passenger car
- Commercial vehicle
- Market Analysis – By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Market analysis, insight and forecasting – by application
- Rest of the World Automotive Bushing Market Analysis, Insights and Forecast, 2019-2030
- Market analysis, insight and forecasting – by application
- Suspension
- Engine
- chassis
- interior
- exit
- transmission
- Market analysis, insights and forecasts – by end-use
- passenger car
- Commercial vehicle
- Market analysis, insight and forecasting – by application
- Competitive analysis
- Major industry development
- Global Market Ranking Analysis (2022)
- Contest Dashboard
- Comparative Analysis – Major Players
- Company Profiles (Overview, Products and Services, SWOT Analysis, Recent Developments, Strategies, Financials (Based on Availability))
- Continental AG (Germany)
- ZF Friedrichshafen AG (Germany)
- Jotex Rubber Industrial Co., Ltd. (Taiwan)
- Sumitomo Ricoh Company Limited (Japan)
- DuPont de Nemours, Inc. (US)
- BOGE Rubber & Plastics (Belgium)
- Vibracoustic SE (Germany)
- Hyundai Polytech India Pvt. Ltd. (India)
- Nolathen (Australia)
- Hutchinson Paulstra (France)
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