Newark, NJ,, Feb. 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global automotive bushing market is expected to grow from USD 131.83 Billion in 2017 to USD 214.52 Billion by 2025 at a CAGR of 6.3% during the forecast period 2018-2025. Increasing demand for the smooth and efficient ride in the vehicles, technological advancements to provide comfort & luxuries to the occupant and growth in the automotive sector are the factors that are driving the automotive bushing market.
The automotive bushing is the kind of bearing which is cylindrically lined in design and is used to minimize friction and wear tear in vehicles. Automotive bushings are generally made of rubber so they are flexible in use. Specifically, bushings are kept inside a car wherever metal joints and mounts are needed. The automotive bushing is produced using elastic, either from elastic or polyurethane. They are mostly utilized in suspension applications, which provide comfort ride by averting knocks in the vehicle. Automotive bushings are utilized to isolate the two metal pieces to carry on the development. The automotive bushing is mostly preferred as they require less or no grease and they transmit less commotion and vibrations. The demand for vehicle driving comfort, demand for a smooth ride and increment in the deals for luxury vehicles will drive the growth of the market in terms of both volume and value.
They are mostly used as casting for pin, hinge or shaft. Many times, these bushings are used as a vibrator isolator to damp the movement and transmit the energy. The bushing technologies help in providing comfort and luxury to the traveler by minimizing bumps and vibrations during the ride. Bushing helps in vibration isolation, provides cushioning and also reduces the friction between solid metal parts in the vehicle.
The technological advancements to provide comfort and luxuries to the occupant is increasing the demand of the market. Besides this, growth in the automotive sector is also responsible for growth. Besides, increasing demand for smooth and efficient ride in the vehicles is expected to generate revenue as well as reduces the wear tear in the tire as it reduces the friction between solid metal parts in the vehicle which is fuelling the market demand. The absence of a standardized automotive bushing technique may pose a problem in the growth of the market. However, technological advancements by adopting lightweight materials will boost the market in the coming years.
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Key players operating in the global automotive bushing market include Federal-Mogul, Oiles Corporation, Freudenberg Group, Cooper Standard Holdings Inc., ZF Friedrichshafen AG, Tenneco Inc., Continental AG, CRRC Corporation Limited, and Benara Udyog Limited, Vibracoustic GmBH, BOGE Rubber & Plastics, Hyundai Polytech India, Nolathane, Paulstra SNC and Sumiriko AVS Germany GmBH among others.
- Extensive product portfolio and expansion strategies by major players are contributing for the growth of the sector. For instance, in 2017, Continental AG has upgraded their existing systems and processes to expand their global presence.
- Various countries (U.S, Germany, U.K, China and Japan) are playing important role in shaping the market structure by continuously focusing on R & D activities and new developments to obtain market share.
Interior bushing segment held the largest market share of 26.40% in 2017
The application segment is classified into engine, suspension, chassis, interior, exhaust, and transmission. The interior bushing segment dominated the automotive bushing market in 2017. Increased demand for qualitative ride is expected to drive the growth of automotive bushings in the coming years.
Passenger Car segment has dominated the market by USD 51.15 Billion in 2017
Vehicle type segment includes passenger car, light commercial vehicle, and heavy commercial vehicle. Passenger Car segment held the highest market value in 2017. The smart camera is cost-effective, compact, and flexible. Smart camera is easier to implement in any system and also helps in decoding algorithms based on the images.
Hybrid electric vehicle (HEV) segment is growing with the highest CAGR of 8.9% in forecast period
Electric vehicle segment is divided into segments such as Battery electric vehicle (BEV), Hybrid electric vehicle (HEV) and Plug-in-hybrid electric vehicle. Hybrid electric vehicle (HEV) is anticipated to grow with the highest CAGR during the forecast period since it combines the use of conventional internal combustion engine (ICE) system with an electric propulsion system (hybrid vehicle drivetrain).
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Regional Segment Analysis of the Automotive bushing Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region dominated the global automotive bushing market with USD 56.03 Billion in 2017 where as the North America region held the second dominant position in the market. The Asia Pacific region is a major manufacturing hub owing to the presence of a large number of contract manufacturers in China as well as high adoption of automation processes and developing automotive market of India, are some of the factors that led to the growth of automotive bushing market in this region. North America is the second fastest growing region due to the increasing demand for vision-guided robotic systems, adoption of application-specific machine vision systems, and government initiatives for using the machine vision which are creating opportunity for the growth of the market.
About the report:
The global automotive bushing market is analysed on the basis of value (USD Billion), volume (Units), consumption (Units), imports (Units) and exports (Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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