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Automotive Bushing Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3313

Automotive Bushing Market size is expected to gain considerable traction over 2022-2028. This is a result of the utilization of bushings in control arms, stabilizer bars, shock absorber mounts, and other suspension and steering components to control vibration and noise. Furthermore, the strong focus of auto manufacturers in developing economies to boost the global supply chains will also add impetus to the demand for automotive bushing materials over the coming years. Bushings refer to cushions made of polyurethane, rubber, and other materials that are mounted on car steering and suspension joints to control movement, offer insulation between car components, and reduce vibration. Rubber bushings are commonly used in cars, as the design helps manufacturers in meeting the noise, vibration, and harshness standards.
 

Commendable surge in the adoption of premium and luxury cars, even during the coronavirus crisis, is one of the prominent trends characterizing the automotive bushing market outlook through 2022-2028. For example, high-end Mercedes-Benz products like the S-class registered strong sales in 2021, which could proliferate the deployment of automotive suspension bushings. In addition, the high investment interest towards electric vehicles and their battery plants will further assert a positive influence on overall market share in the years ahead.
 

Considering vehicle, the light commercial vehicle (LCV) segment is projected to account for a considerable share in the automotive bushing industry by 2028. This can be credited to the myriad advantages of the vehicles, such as long service life and capability to transport heavy goods. The significant increase in e-Commerce sales will also drive the vehicle demand, as these models are widely used in courier, parcel, and other applications due to increased reliability. With regards to application, the engine segment will record a substantial revenue over the forthcoming years, on account of the increasing usage of molded rubber bushings to act as an engine vibration control and cushion.
 

On the regional front, the North America automotive bushing market is set to depict a strong growth rate through 2028. This is driven by the implementation of strict emission norms and the high emphasis on the production of electric cars. For example, U.S. President Joe Biden revealed a combined target of 50% electric vehicles, including fuel-cell models and plug-in hybrids, by 2030, which could augment the need for car rubber bushings. However, the issues regarding chip shortage and the subsequent decline in vehicle production across the country may hamper regional market expansion to a certain extent.
 

Key automotive bushing industry players include Tenneco Inc., BOGE Rubber and Plastics (CRRC New Material Technologies), Continental AG, ZF Friedrichshafen (Zeppelin-Stiftung), Vibracoustic, Hyundai Polytech India, and Dupont, among others. Strategic product launches, acquisitions, mergers, and business expansions are some of the initiatives being undertaken by these industry participants to bolster their presence in the competitive market.
 

COVID-19 Influence on automotive bushing market trends:

The auto sector is one of the industry verticals that witnessed a significant slump in demand during the novel coronavirus pandemic, especially due to chip shortages. As per the Federation of Automobile Dealers Associations’ data, the vehicle retail in India recorded a reduction of around 18% in October-November 2021 during the festive season as compared to a year earlier. Factors like these have posed a hindrance to the steady growth of the automotive bushing industry over the past months. However, the surging reliance on e-Commerce and the subsequent rise in deployment of commercial vehicles during the pandemic may aid industry recovery over the foreseeable future.
 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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