Home > Automotive & Transportation > Automotive Bushing Market
Automotive Bushing Market size is expected to gain considerable traction from 2023 to 2032 resulting from the increasing utilization of bushings in control arms, stabilizer bars, shock absorber mounts and other suspension and steering components to control vibration and noise. Moreover, 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 by 2032.
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 noise, vibration, and harshness standards.
A 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 by 2032. In addition, the high investment interest in electric vehicles and their battery plants will further assert a positive influence on overall market share in the years ahead.
The Russia-Ukraine war severely interrupted the automotive value chain, causing OEMs and suppliers to postpone or terminate trading with Russia. Due to a scarcity of components from Ukraine-based suppliers, some OEMs in Europe and Eastern Europe have suspended or reduced production. However, raw material and automotive part shortages have had a detrimental influence on European autocompanies, which will impact the automotive bushing market.
Considering vehicle, the light commercial vehicle (LCV) segment is projected to account for a considerable industry share by 2032. This can be credited to the myriad advantages of the vehicles, such as long service life and the capability to transport heavy goods. The significant increase in e-Commerce sales will also drive 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 substantial revenue by 2032, led by 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 2032, driven by the implementation of strict emission norms and the high emphasis on the production of electric cars. For example, in September 2022, 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 players operating in automotive bushing business scenario 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 these industry participants undertake to bolster their presence in the competitive automotive bushing industry landscape.
For instance, in March 2023, SKF, the bushing manufacturer, developed a low-maintenance composite bushing for motorcycle front suspensions (or forks). The bushing's mechanical strength and low friction are provided by a mix of metals and a lubricating coating.