Automotive Bushing Market Predictions Exhibit Massive Growth by 2025
The global Automotive Bushing Market is projected to grow from an estimated USD 132.20 billion in 2018
to USD 175.31 billion by 2025, at a CAGR of 4.11% during the forecast period. The growth of the
automotive bushing market is influenced
by factors such as increasing vehicles production and sales.
The governments of
several countries have made stringent regulations for the use of basic safety
products such as seatbelts and airbags. In the US and Europe, the governments
have already implemented regulations related to safety features that are mandatory
for all vehicles and are thus followed by
automakers. The inclusion of advanced safety features and a rise in demand for ride quality will create
several opportunities for automotive bushing suppliers. It will increase the demand for bushings in the automotive
industry.
The Asia Pacific region is estimated
to be the fastest growing market, in terms of value, for automotive bushings.
Significant growth in the total sales volume of automobiles is the major growth
driver for the automotive bushing market in this region. Interior
bushings are expected to be the fastest growing segment, by value. Rising
demand for ride quality and safety would drive the growth of interior bushings
in the coming years.
In an
effort towards the weight reduction of a vehicle, automotive engine
manufacturers are offering small and compact engines that are lightweight. This provides an opportunity for bushing
manufacturers to supply complex, special engineered bushings made from
materials that can maintain performance under high heat levels. Also, growing
opportunities in the autonomous and semi-autonomous car technology will benefit
the bushing market. The global electric vehicle industry has witnessed
incredible growth in recent years. Government regulations for emission and fuel
economy, price reduction of the vehicle,
and subsidies to electric vehicle manufacturers to reduce the production cost
have driven the growth of electric vehicles equipped with batteries, which in
turn will increase the demand for automotive bushings.
Target Audience
·
Manufacturers of automotive bushings
·
Automotive OEMs
·
Electric vehicle manufacturers
·
Industry associations and experts
·
Traders, distributors, and suppliers of automotive bushings
Some of
the major market players operating in the AUTOMOTIVE
BUSHING MARKET are Federal-Mogul
(US), Oiles Corporation (Japan), Freudenberg Group (Germany), Cooper Standard
Holdings Inc. (US), ZF Friedrichshafen AG (Germany), Tenneco Inc. (US),
Continental AG (Germany), CRRC Corporation Limited (China), and Benara Udyog
Limited (India).
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