Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Automotive Bushing Technologies Market.
The automotive bushing technologies market 2020 can note tremendous growth at a rate of 4.86% between 2018 and 2023, considered to be the review period in the new report by Market Research Future (MRFR).
Main Boosters and Key Barriers
Automotive bushings are mainly used for isolating two metal pieces and their notable standpoint is that they need no grease, while transmitting less vibrations and commotion. Mounting concerns regarding driving comfort, escalating demand for smoother ride and the increment in the sales of luxury vehicles are touted to be top market boosters in the upcoming years.
Over the years, the hike in the demand for cutting edge vehicles and the growing need for anti-vibration components in vehicles have created new avenues for the leading producers, simultaneously boosting the market growth. There have also been striking advancements in the auto industry, which has been instrumental in the development of the automotive bushing technologies market. In the years ahead, the soaring demand for inside bushing portion is projected to be a significant trend in the market, given the rampant demand for better ride quality.
On a dim note, the COVID-19 outbreak has restrained the growth of the global automotive industry to some extent, which has led to manufacturing interruptions in Europe, assembly plants lockdown in the United States and disruption in Chinese parts exports. This is resulted in vigorous pressure on the industry, which is now facing a downshift in worldwide demand. For this reason, the automotive bushing technologies market is likely to witness a surge in merger & acquisition activities in the near future, to compensate for the revenue loss all over the world.
The market for automotive bushing technologies has been considered for segments like type, materials, sales channel and vehicle type.
The types of automotive bushing technologies are subframe bushings, bump stops, damper bushings, suspension arm bushings, top mounts, PT mounts and more.
The material-dependent segments covered in the market study are rubber as well as polyurethane.
The main sales channels highlighted are OEM as well as aftermarket.
The vehicle types covered in the study are light commercial vehicle, heavy commercial vehicle and passenger cars.
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The regional segmentation of the automotive bushing technologies market includes Europe, North America, APAC or Asia Pacific, and RoW or the Rest of the World.
The APAC can presumably the clear winner in the global market, with the second lead anticipated to be taken by Europe. The increasing vehicles production in the region, particularly in India and China, is one of the top growth inducers in the automotive bushing market. The heightened demand for self-driving, electric, and hybrid vehicles has also had a profound effect on the regional market in recent years. One of the most prominent trends noted in the regional market is the quick adoption of component monitoring system and the predictive maintenance technology, touted to be a prime growth booster in the approaching period.
An expansive customer base combined with the high financial status of the end-users pushes the sales of vehicles in Europe, which compels local automotive OEMs to boost their manufacturing activities. The growing concerns in association with riding comfort as well as vehicle noise also help the automotive bushing technologies market size increase in the region. The spike in the sales of luxury vehicles as well as comfort sports vehicles gives rise to lucrative opportunities for new entrants in the regional market.
Leading competitors in the automotive bushing technologies industry include BOGE Rubbers & Plastics (Damme), Hyundai Polytech (India), Continental AG (Germany), Paulstra SNC (France), SumiRiko AVS Germany GmbH (Germany), Federal-Mogul LLC (U.S.), Tenneco Inc. (U.S.), Nolathane (U.S.), Vibracoustic GmbH (Germany), Cooper-Standard Holdings Inc. (U.S.), to mention a few.