The Automotive Bushing Market Size was valued at USD 158.4 billion in 2023, and expected to reach USD 237.41 billion by 2031, and grow at a CAGR of 4.8% over the forecast period 2024-2031.
The automotive bushing market is poised for robust growth, driven by several converging trends. Increasing emphasis on comfort and fuel efficiency is propelling the demand for lightweight materials in vehicle construction. Consequently, there is a heightened need for bushings capable of effectively managing vibrations and noise in these lighter vehicle frames. The advent of the electric vehicle (EV) era is another significant factor, necessitating specialized bushing materials capable of withstanding the unique stresses associated with electric motors.
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Government initiatives such as the US Infrastructure Investment and Jobs Act, which allocates $7.5 billion for electric vehicle charging infrastructure, are expected to further boost EV adoption, thereby influencing bushing demand positively. Moreover, substantial investments in autonomous vehicles, forecasted to exceed $50 billion globally by 2024 according to McKinsey & Company, will drive the need for advancements in bushing technology to ensure seamless and safe vehicle operation.The aftermarket segment is anticipated to maintain a substantial share due to the growing global vehicle parc, which denotes the total number of vehicles on the road at any given time.
Drivers:
The growth of the auto parts industry is going up.
The car components sector is expanding rapidly.
The auto parts sector is experiencing a significant increase in growth. This increased trend is being driven by rising demand for vehicle maintenance and replacement parts. As technology evolves, the sector responds with new solutions, fueling its growth. As the automotive landscape evolves, this trend is expected to continue.
A growing number of people are worried about the comfort of their vehicles' rides.
An increase in luxury vehicle purchases are projected to fuel the market's growth in the near future.
Restraints:
There are growing concerns regarding safety and vibrations.
Concerns about safety and vibration have grown, leading a renewed emphasis on providing safe and steady experiences. Construction and automobile industries, for example, are prioritizing methods to reduce possible dangers and improve user experience. Technological advancements are assisting in the creation of more dependable and robust solutions to solve these developing concerns.
In the automotive part sector, there is fierce rivalry for automotive bushing advancements.
High competition in the market for automotive bushing advances in the automotive part sector.
Concerns about safety and vibrations have grown.
Opportunity:
Polyurethane automotive bushings that are innovative and provide a high level of comfort.
Cutting-edge polyurethane automotive bushings are redefining driving experience by providing increased smoothness and cushioning. These unique components effectively absorb vibrations and road imperfections, improving overall ride quality. They help to a more comfortable and refined driving experience by reducing jolts and impacts.
Customers' need for safety and luxury has prompted them to purchase pricey automobiles, which will fuel the business.
Innovative polyurethane automobile bushings that give a high level of comfort.
Customers' awareness of safety and luxury has led them to buy expensive cars, which will fuel the industry.
Challenge:
There are growing concerns regarding safety and vibrations.
Worries about safety and vibrations have grown, encouraging sectors to prioritize safe experiences. To successfully address these rising concerns, an emphasis on innovation is required.
The market's largest challenges will be fluctuating raw material prices and availability.
Fluctuating raw material prices and availability will be the market's biggest hurdles.
Concerns about safety and vibrations have grown.
Automotive predicts 14.1 million new vehicle sales in the United States in 2023, which Analysts predict that auto sales in the United States will number around 13.7 million this year. In 2021, sales in the United States were 15.1 million, up from 14.6 million in 2020. global new vehicle sales will reach almost 83.6 million units in 2023, a 5.6% rise over the previous year. In the United States, the data and consultancy business anticipates a 7% increase in sales to approximately 14.8 million units in 2023. the predicted increase comes as many lower-income and subprime borrowers, who would normally quit the new vehicle segment during a recession, have already done so due to low inventories and record-high prices.
Due to the impact of Russia Ukraine war the disagreement, S&P Global Mobility, previously IHS Markit, reduced its global auto output forecast by 2.6 million vehicles in both 2022 and 2023 in March. The worst-case situation might result in up to 4 million automobiles being lost. European auto output is likely to fall by nearly 9%, or about 1 million vehicles. Some of this will be attributable to lost auto sales in Russia and Ukraine, but those nations together account for a modest portion of the global automotive market — around 2% in 2021. The greater issue is the shortage of supplies and parts, which is already affecting European automakers and, according to the research, might expand to other markets if the war continues. Separately, credit experts at S&P Global Ratings predict that global vehicle sales would fall 2% below 2021 levels in 2022. This is a considerable decrease from the 4%-6% increase in revenues expected by the organization in October 2021.
The investigation noted supply problems of crucial automotive parts from the region, most notably wire harnesses from Ukraine. Raw resources are also at risk, as Russia supplies over 40% of the world's raw palladium, which is needed to purify car emissions. The region also produces nickel, which is utilized in the batteries of electric vehicles. Iron and other common minerals and metals are also affected.
By Application:
Engine
Suspension
Chassis
Interior
Exhaust
Transmission
Suspension bushings lead the automotive bushing market, comprising approximately 28% of share. Their prominence is attributed to their pivotal function in absorbing shocks and vibrations from the road, thereby ensuring a smooth and comfortable driving experience. Following closely are engine bushings, holding around 32% market share as they are instrumental in isolating engine vibrations and preventing their transmission to the chassis and passenger compartment. Chassis bushings contribute approximately 18% to the market, reinforcing vehicle handling and stability by establishing a robust connection between the suspension and body. Interior bushings, accounting for 15%, play a significant role in enhancing passenger comfort by mitigating noise, vibration, and harshness (NVH) within the cabin. Exhaust bushings ($7.53 billion) and transmission bushings ($5.21 billion) represent smaller segments, yet they are vital for managing vibrations and ensuring the proper operation of their respective systems.
By Vehicle Type:
Passenger Car (PC)
Light commercial vehicle (LCV)
Heavy commercial vehicle (HCV)
In 2023, the global automotive bushing market witnessed segmentation based on vehicle types: passenger cars (PC), light commercial vehicles (LCV), and heavy commercial vehicles (HCV). Passenger cars emerged as the dominant segment, holding approximately 65% of the market share due to their extensive production volume. Light commercial vehicles accounted for a substantial portion, around 20%, while heavy commercial vehicles comprised the remaining 15%. This distribution underscores the diverse bushing needs across vehicle classes. For passenger cars, emphasis lies on ride comfort and noise reduction, necessitating bushings crafted from materials that effectively dampen vibrations. Light commercial vehicles, such as vans and pickup trucks, demand a balance between comfort and cargo capacity, thus influencing the design and material selection of bushings.
By Electric Vehicle Type
Battery electric vehicle (BEV)
Hybrid electric vehicle (HEV)
Plug-in-hybrid electric vehicle (PHEV)
By 2031, Battery Electric Vehicles (BEVs) are anticipated to claim a dominant market share exceeding 40%, primarily attributed to their increased concentration of bushings for handling vibrations from electric motors and facilitating distinctive drivetrain configurations compared to Internal Combustion Engine (ICE) vehicles. Concurrently, Plug-in Hybrid Electric Vehicles (PHEVs) are expected to experience significant expansion, fueled by governmental incentives and consumer inclination towards environmentally sustainable transportation options. PHEVs, which utilize both electric motors and gasoline engines, exhibit fluctuating bushing needs contingent upon driving modes.
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The Asia Pacific region commands a significant portion, approximately 38%, of the global automotive bushing market, largely driven by robust vehicle production in key nations such as China, India, and Japan. Economic growth in these countries has spurred a heightened demand for automobiles, bolstered further by governmental initiatives promoting local manufacturing and urbanization efforts. Following closely behind, North America and Europe collectively hold around 44% of the market share, benefitting from established automotive industries renowned for their historical prowess in car manufacturing. These regions are witnessing steady growth fueled by advancements in technology and a focus on high-performance vehicle production. South America and the Middle East & Africa regions display moderate growth potential, together accounting for 18% of the market share. Factors such as increasing disposable incomes, urbanization trends, and infrastructure investments are expected to propel the automotive bushing market in these regions in the forthcoming years.
Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Oiles Corporation, ZF Group, DuPont, Federal-Mogul LLC, BOGE Rubber & Plastics, Sumitomo Riko Company Limited, Paulstra SN, Vibracoustic GmbH, Continental AG, Mahle GmbH are the major key player in the Automotive Bushing Market.
Oiles Corporation-Company Financial Analysis
Apollo Funds Complete the Purchase of Tenneco in November 2022. Apollo Funds finalised the acquisition of Tenneco in November 2022. It is anticipated that this purchase would give Tenneco the resources it needs to grow its footprint across a range of business sectors and geographical areas. Tenneco has the chance to expand its worldwide reach and seek growth in a number of industries.
Vibracoustic, a prominent manufacturer of automotive components, perfected the new chassis bushings for battery-powered electric automobiles in February 2023. Electric cars were able to lessen concerns like extra vehicle weight and other noise and vibration problems thanks to the new BEV-specific chassis mount.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 158.4 Billion |
| Market Size by 2031 | US$ 237.41 Billion |
| CAGR | CAGR of 4.8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Application (Engine, Suspension, Chassis, Interior, Exhaust, Transmission) • by Vehicle Type (Passenger car (PC), Light commercial vehicle (LCV), Heavy commercial vehicle (HCV)) • by Electric Vehicle Type (Battery electric vehicle (BEV), Hybrid electric vehicle (HEV), Plug-in-hybrid electric vehicle (PHEV)) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Oiles Corporation, ZF Group, DuPont, Federal-Mogul LLC, BOGE Rubber & Plastics, Sumitomo Riko Company Limited, Paulstra SN, Vibracoustic GmbH, Continental AG, Mahle GmbH |
| Key Drivers | • The growth of the auto parts industry is going up. • The car components sector is expanding rapidly. • A growing number of people are worried about the comfort of their vehicles' rides. • An increase in luxury vehicle purchases are projected to fuel the market's growth in the near future. |
| RESTRAINTS | • There are growing concerns regarding safety and vibrations. • In the automotive part sector, there is fierce rivalry for automotive bushing advancements. • High competition in the market for automotive bushing advances in the automotive part sector. • Concerns about safety and vibrations have grown. |
Ans: Automotive Bushing Market Size was valued at USD 158.4 billion in 2023, and expected to reach USD 237.41 billion by 2031, and grow at a CAGR of 4.8% over the forecast period 2024-2031.
The forecast period of the Automotive Bushing Market is 2024-2031.
The major players are Oiles Corporation, ZF Group, DuPont, Federal-Mogul LLC, BOGE Rubber & Plastics, Sumitomo Riko Company Limited, Paulstra SN, Vibracoustic GmbH, Continental AG, Mahle GmbH, and others in the final report.
Automotive bushing in a car act as a shock absorber and can provide smooth interference, very little vibration, and control the noise made by moving parts. Most of the time, elastic or polyurethane is used to make bushings for cars.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Automotive Bushing Market Segmentation, By Vehicle Type
9.1 Introduction
9.2 Trend Analysis
9.3 Passenger car (PC)
9.4 Light commercial vehicle (LCV)
9.5 Heavy commercial vehicle (HCV)
10. Automotive Bushing Market Segmentation, By Electric Vehicle Type
10.1 Introduction
10.2 Trend Analysis
10.3 Battery electric vehicle (BEV)
10.4 Hybrid electric vehicle (HEV)
10.5 Plug-in-hybrid electric vehicle (PHEV)
11. Automotive Bushing Market Segmentation, By Application
11.1 Introduction
11.2 Trend Analysis
11.3 Engine
11.4 Suspension
11.5 Chassis
11.6 Interior
11.7 Exhaust
11.8 Transmission
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13 Company profile
13.1 Oiles Corporation
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Product/Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 ZF Group,
13.3 DuPont
13.4 Federal-Mogul LLC
13.5 BOGE Rubber & Plastics
13.6 Sumitomo Riko Company Limited
13.7 Paulstra SN
13.8 Vibracoustic GmbH,
13.9 Continental AG
13.10 Mahle GmbH
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
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