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Automotive Bushing Market 2024 | Market Size, Industry Trends, Share, Market Analysis, Key Drivers, Top Major Players And Forecast To 2033
Automotive Bushing Market
Automotive Bushing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $207.07 billion In 2028 At A CAGR Of 6.0% :
The automotive bushing market size has grown strongly in recent years. It will grow from $154.83 billion in 2023 to $163.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to vehicle production growth, regulatory compliance, consumer comfort and ride quality, globalization of automotive supply chains, government incentives.
The automotive bushing market size is expected to see strong growth in the next few years. It will grow to $207.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to electrification of vehicles, lightweighting initiatives, autonomous vehicles, stricter emissions standards, advanced manufacturing techniques. Major trends in the forecast period include active suspension systems, sustainable materials, sealed and maintenance-free designs, customization for performance vehicles, integration of smart technologies.
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Automotive Bushing Market Major Segments
The automotive bushing market covered in this report is segmented -
1) By Product Type: Damper Top Mounts, Suspension Arm Bushings, Subframe Bushings, Hydro Bushings, Engine Mounts, Suspension Mounts
2) By Vehicle Type: Passenger Car (PC), Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
3) By Application: Engine, Suspension, Chassis, Interior, Exhaust, Transmission
4) By Distribution Channel: Original Equipment Manufacturer, Aftermarket
Key Driver - Vehicle Production Boosting The Automotive Bushing Market
Growing vehicle production is expected to propel the growth of the automotive bushing market going forward. A vehicle is a machine with an engine and wheels that transports people or cargo. Due to rapid urbanization and the expansion of global auto manufacturers, vehicle production has been on the rise in recent years. Since the bushings are used in all vehicles, increased vehicle production simply results in increased demand for the automotive bushings. For instance, according to the European Automobile Manufacturers' Association (ACEA), a Belgium-based group in the automobile industry, in 2021, 79.1 million motor vehicles were produced globally, a 1.3% increase from 2020. Therefore, growing vehicle production is driving the growth of the automotive bushing market.
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Prominent Trend - Innovative Product Launches Drive Growth In The Automotive Bushing Market
Product innovation is the key trend gaining popularity in the automotive bushing market. The launch of new products gives customers more and better options and better serves the customers, which in turn results in the growth of the market. For instance, in March 2021, REE Automotive, an Israel-based EV startup launched innovative drive component and platforms for better drive quality by reducing vibrations in chassis and wheel.
Automotive Bushing Market Players
Major companies operating in the automotive bushing market report are Continental AG, ZF Friedrichshafen AG, MAHLE GmbH, Sumitomo Riko Company Limited, DuPont de Nemours Inc., BOGE Elastmetall GmbH, Vibracoustic GmbH, Federal-Mogul LLC, Paulstra SNC, Oiles Corporation, Nolathane Pty Ltd., Keats Manufacturing Co., Dayton Lamina Corporation, Jotex Rubber Industrial Co. Ltd., JRB Engineering Pvt. Ltd., Tenneco Inc., Delphi Technologies plc, BorgWarner Inc., Trelleborg AB, Dana Incorporated, Hutchinson SA, Freudenberg Co., Cooper-Standard Holdings Inc., Chassis Technology Products Inc., Haldex AB, MANN+HUMMEL Group, Tachi-S Co. Ltd., Hyspan Precision Products Inc., General Motors Company, BMW AG, Toyota Motor Corporation
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive bushing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive bushing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Bushing Market Report Structure
3. Automotive Bushing Market Trends And Strategies
4. Automotive Bushing Market - Macro Economic Scenario
5. Automotive Bushing Market Size And Growth
…..
27. Automotive Bushing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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