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Automotive bushing technologies market is expected to grow from US$ US$ 7754.1 Mn in 2017 to US$ 9947.2 Mn by 2025 at a CAGR of 3.6% between 2017 and 2025.
A passenger car consists of a numerous metal component that ensure the proper and smooth functioning of the cars on roads that are smooth as well as a bit rocky in nature. A suspension system plays a critical role in ensuring a smooth ride for the occupants of the car. These solid suspension parts are linked to each other and transmit energy when the vehicle is on the move. Bushings are small components that are typically made of rubber or polyurethane material and act as isolators to the noise and vibrations that are transmitted by the solid metal suspension parts. These bushings enable reduction in the vibrations and noise and thereby ensure a smooth & comfortable ride for the passengers. Functions of bushing include vibration isolation, provide cushioning and also reduce the friction between solid metal parts in the vehicle. Typically, bushings are applied inside a car wherever there are metal joints and mounts are needed. Alternator bushings, control arm bushings, shock absorber mountings, sway bar links, transmission shifters, motor mounts and sub-frame mounts are some of the most commonly used bushings in passenger cars.
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Some of the global key players operating in the Automotive Bushing Technologies Market are Continental AG, Vibracoustic GmBH, Cooper-Standard Holdings Inc., Federal Mogul LLC and Tenneco Inc. Also, BOGE Rubber & Plastics, Hyundai Polytech India, Nolathane, Paulstra SNC and Sumiriko AVS Germany GmBH are other key companies in the Automotive Bushing Technologies market.
The Automotive Bushing Technologies Market segmentation is done on the basis of type, suspension type and vehicle type. The type segment of automotive bushing technologies market includes damper bushings, bump stops, top mounts, suspension arm bushings and PT Mounts. The PT Mounts bushing are further sub-divided into three categories namely engine, roll-rod and transmission. Various types of suspension systems are used in different passenger cars depending upon different parameters such as space occupied, cost and comfort. The different suspension systems included in the study include McPherson, double wishbone, multi-link suspension and Coupled Torsion Beam Axle (CTBA). The different types of vehicles profiled in the report are A/B Class, C Class, D Class, E Class, F Class, SUV (A,B,C,D), and MPV & PT. On the basis of geography, the Automotive Bushing Technologies market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The global Automotive Bushing Technologies Market is estimated to grow at a CAGR of 3.6% during the forecast period 2018 – 2025 and accounts for US$ 9.95 Bn in the year 2025. As per the automobile associations, the global vehicular population had crossed 1 billion mark in the year 2010 itself which was driven by the aggressive growth rates in India and China in that fiscal year. The rise in the sales of vehicles and in particular passenger cars can be attributed to the steady increase in the disposable incomes of consumers. Developing economies witnessed a steady growth in the post-recession era and thus there was rise in the disposable incomes with consumers. In the western countries where consumers have huge disposable incomes at their disposal, it has been observed that with the rise of vehicular population, there has been significant changes in the selection parameters of passenger cars. Cost and fuel efficiency no longer stay as the primary criterion for purchasing. Instead the purchases more depend on the comfort and luxury provided in the car.
In the era of cut-throat competition, the ability of a premium car manufacturers to build an appealing and intuitive interior inside a car could realize the difference between the success and failure of the brand in a particular market. Audi, BMW, General Motors, Mercedes-Benz, Jaguar-Land Rover are some of the automakers that have some of the most differentiated car interiors in their models. These luxury carmakers already have an established market in the developed countries. In terms of exploring new geographic locations, these automakers have witnessed surge in the sales of their premium cars segment in emerging markets such as India and China. The surge in the sales of premium and luxury cars provides automotive bushing suppliers with new opportunities and drive the market for bushing products.