The new report by Expert Market Research titled, ‘Global Automotive Bushing Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive bushing market share, assessing the market based on its segments such as vehicle types, electric vehicle types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 132.7 billion
Forecast CAGR (2023-2028): 4.5%
Factors such as an increase in the need for automotive cybersecurity and cybersecurity standards becoming mandatory are expected to drive the growth of the global automotive cybersecurity market. Also, enhancing vehicle security using adaptive security and the rise in complexity of cars’ electronic systems are projected to offer lucrative growth opportunities for the market players.
The growing emphasis on OEMs on autonomous driving and connected car systems has increased the risk of data breaching, thus augmenting the demand for cybersecurity solutions in the automotive market. Moreover, the growing usage of e-mobility across the globe is anticipated to drive the market. Technological advancements in autonomous and semi-autonomous vehicles are triggering the demand for automotive cybersecurity policies resulting in increasing data and expansion in networking capacities.
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Automotive Bushing Industry Definition and Major Segments
Automotive bushings are a form of rubber-based element that are used to separate the vibrations of the parts they are employed on while also isolating the part from any surrounding vibrations. It functions as a medium between two pieces, reducing the effect of interactions between the two metal parts and reducing friction between them.
Based on vehicle type, the market is divided into:
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
By electric vehicle type, the market includes:
Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)
Plug-In Hybrid Electric Vehicle (PHEV)
The major applications of the market are:
Engine
Suspension
Chassis
Interior
Exhaust
Transmission
Others
On the basis of region, the market is segmented into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Automotive Bushing Market Trends
The rapid increase in demand for bushings with high load-carrying capacity for heavy-duty applications is expected to offer various growth opportunities for the automotive bushing market in the forecast period of 2022-2027. Also, the strong focus of auto manufacturers in developing economies to aid the global supply chains will provide further impetus to the demand for automotive bushing materials over the coming years. For the production of polyurethane, which is the raw material of automotive bushings, the adoption of renewable resources is increasing in the North American region, which is expected to push the automotive bushing market.
Key Market Players
The major players in the market are ContiTech AG, Sumitomo Riko Company Limited, Vibracoustic SE, Hyundai Polytech India Pvt. Ltd., Tenneco Inc, Teknorot AS, Hutchinson Paulstra, Dayton Lamina Corporation, and The Benara Udyog Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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