Fior Markets launched a study titled “Global Automotive Bushing Market by Application (Engine, Suspension, Chassis, Interior, Exhaust, and Transmission), Vehicle Type, EV Type, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global automotive bushing market is expected to grow from USD 131.83 Billion in 2017 to USD 214.52 Billion by 2025 at a CAGR of 6.3% during the forecast period from 2018-2025. Adoption of growing technologies for providing comfort and luxuries to the occupant, rise in demand of smooth and efficient ride in the vehicles which is expected to generate revenue and growth in automotive sector are the two major factors driving the growth of the market.
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Interior bushing segment held the largest market share of 26.40% in 2017
The application segment is classified into engine, suspension, chassis, interior, exhaust, and transmission. The interior bushing segment dominated the automotive bushing market in 2017. Increased demand for qualitative ride is expected to drive the growth of automotive bushings in the coming years.
Passenger Car segment has dominated the market by USD 51.15 Billion in 2017
Vehicle type segment includes passenger car, light commercial vehicle, and heavy commercial vehicle. Passenger Car segment held the highest market value in 2017. The smart camera is cost-effective, compact, and flexible. Smart camera is easier to implement in any system and also helps in decoding algorithms based on the images.
Hybrid electric vehicle (HEV) segment is growing with the highest CAGR of 8.9% in forecast period
Electric vehicle segment is divided into segments such as Battery electric vehicle (BEV), Hybrid electric vehicle (HEV) and Plug-in-hybrid electric vehicle. Hybrid electric vehicle (HEV) is anticipated to grow with the highest CAGR during the forecast period since it combines the use of conventional internal combustion engine (ICE) system with an electric propulsion system (hybrid vehicle drivetrain).
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately 42.50% in 2017. The Asia Pacific region is a major manufacturing hub owing to the presence of a large number of contract manufacturers as well as high adoption of automation processes, these were some of the factors that led to the growth of automotive bushing market in this region.
The major players of market include Federal-Mogul (US), Oiles Corporation (Japan), Freudenberg Group (Germany), Cooper Standard Holdings Inc. (US), ZF Friedrichshafen AG (Germany), Tenneco Inc. (US), Continental AG (Germany), CRRC Corporation Limited (China), and Benara Udyog Limited (India), Vibracoustic GmBH, BOGE Rubber & Plastics, Hyundai Polytech India, Nolathane, Paulstra SNC and Sumiriko AVS Germany GmBH
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