The automotive bushing market share based on vehicle is segmented into PCV, LCV, and HCV. PCVs will showcase significant growth over the projected timeframe. This can be attributed to the increasing preference for personal mobility solutions. Moreover, rising automotive sales globally on account of improving disposable income and the availability of a wide model range across different price range further accentuates the segment share.
Based on application, the automotive bushing market size can be categorized into suspension, engine, chassis, and transmission. The suspension will showcase significant growth over the study timeframe. This can be credited to the increasing preference for automobiles with advanced suspension and vibration dampening capabilities for enhancing customer comfort without hampering the driving experience. Moreover, the proliferation of advanced suspension systems including independent suspension supporting the development of advanced bushings will drive the segment share.
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Automotive Bushing Market size is predicted to observe healthy CAGR during the forecast period impelled by rising automobile production along with increasing demand for vehicles with superior driving experience and improving consumer comfort. The requirement for controlling unwanted flexibility in suspension systems along with movements in metal contacts further expands the industry size. The increasing preference of automobile manufacturers to improve in-car experience along with reducing vibrations in vehicles are expected to positively drive the business growth.
Advancements in suspension technologies along with rising demand for luxury and premium vehicles are expected to significantly drive the sales of automotive bushing market over the projected timeframe. The balance of appropriate stiffness in suspension systems for maintaining comfort and vehicle driving dynamics are expected to significantly improve the adoption of hydro-bushing systems in automobiles.
Automotive bushing manufacturers are continuously engaged in strategic partnerships and agreements to develop advanced products for suiting the OEM’s requirements. For instance, in 2015, TrelleborgVibracoustic in association with Range Rover developed a heavy-duty hydro bush for heavier SUVs. These bushings can offer superior dampening characteristics, that are ideal for driving such vehicles across diversified terrains.
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Europe will contribute significantly in the automotive bushing market share over the projected timeframe. This can be attributed to the presence of major automobile manufacturers focusing on lunching vehicles at varied price range. Moreover, rising preference for high end and luxury cars across the region with superior suspension systems and reduced vibrations along with the incorporation of latest engine technologies are expected to boost the regional share over the study timeframe.
Industry players are continuously investing in R&D and are applying patents for their customized automotive bushing products. For instance, in September 2016, Federal Mogul Motorparts was awarded with a second U.S. patent, for its innovative MOOG Problem Solver control arm vertical bushing design. The product offers innovative ball & socket configuration that contributes significantly towards longer component service life compared to the traditional bushings.
Few industry participants in the automotive bushing market share include Dupont, Hyundai Polytech India, Vibracoustic, ZF Friedrichshafen, Continental, BOGE Rubber and Plastics, Tenneco Inc. Industry players are engaged in strategic acquisitions and mergers for expanding their market share. For instance, in October 2018, Tenneco Inc announced the completion of the acquisition of Federal Mogul for complementing its product portfolio with a diversified range of automotive parts and components.
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