Automotive Bushing Market by Application, Vehicle Type, and Geography - Global Forecast 2019-2023
Global Automotive Bushing Market: About this market
Bushings are generally made of rubber and mounted between joints to isolate vibration absorb shocks occurring due to bumps over the road surface and reduce the wear and tear resulting due to frequent direct contact between two metal components. Technavio’s automotive bushing market analysis considers sales from both suspension and steering, transmission system and other applications. Our analysis also considers the sales of automotive bushing in APAC, Europe, MEA, North America, and South America. In 2018, the suspension and steering segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing adoption of vehicles across the globe will play a significant role in the suspension and steering segment to maintain its market position. Also, our global automotive bushing market report also looks at factors such as increase in demand for vehicles, growing preference for vehicle light weighting and in-vehicle comfort and safety and increasing preference of SUVs. However, increasing instances of product recalls, consumers’ shift from vehicle ownership, and increasing incorporation of air suspension system may hamper the growth of the automotive bushing industry over the forecast period.
Global Automotive Bushing Market: Overview
Growing preference for vehicle lightweight and in-vehicle comfort and safety
Government bodies and vehicle manufacturers are implementing stringent emission norms to reduce vehicle emission. As a reduction in vehicle weight has a considerable impact on vehicle emission, vehicle manufacturers are focusing on the adoption of lightweight materials. Majority of bushings are made of either polyurethane or rubber, which are considerably lightweight. The growing preference for vehicle lightweight will fuel the automotive busing market to grow at a CAGR of almost 4% during the forecast period.
Growing adoption of predictive maintenance technology and component monitoring system
Preventive maintenance technology is gaining popularity in the automotive industry as the technology alerts the failure of the component and avoids breakdown of vehicles. Rubber bushings are subjected to uneven forces applied by uneven road surface, heat, oil & chemicals, and dust, which leads to their failure and sometimes may result in an accident. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global automotive bushing market during the forecast period 2019-2023, click here.
With the presence of several major players, the global automotive bushing market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive bushing manufacturers, that include Bridgestone Corp., Freudenberg SE, MAHLE GmbH, Sumitomo Riko Co. Ltd. and Tenneco Inc.
Also, the automotive bushing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Bridgestone Corp., Freudenberg SE, MAHLE GmbH, Sumitomo Riko Co. Ltd. and Tenneco Inc.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook