According to the new research report published by The Insight Partners, titled “Automotive Bushing Technologies Market - Global Analysis and Forecast to 2025”, the global automotive busing technologies market is expected to reach US$ 9.9 billion in 2025, registering a CAGR of 3.6% during the forecast period 2017 to 2025.
In 2017, Asia-Pacific accounted for the largest revenue share of little less than three-fifth of the total market share, followed by Europe.
The gaining importance for fuel efficiencies while driving and surging demands for smoother rides have translated into healthy growth for bushing products in the passenger cars. Bushings being used as products that are used to isolate the vibrations and noises and reduce the energy being transmitted to the vehicle occupants by damping them have gained significant importance in the modern times.
Currently, the automotive bushing technologies market is experiencing a steady growth that is attributed to numerous factors. The most significant factors that have impacted the growth of this industry are more disposable incomes with consumers and consequently more number of passenger cars on the roads; poor condition of roads in the developing and the under developed economies and the parallel advancements made in the consumer products industry. Over the years the automobile industry has experienced occasional highs and lows as a result of the changes in economy, weather conditions and the interest from new investors. The consumer spending on automotive components and other allied accessories has changed drastically that present large opportunities to the businesses today.
Automotive Bushing Technologies Market to 2025 - Global Analysis and Forecasts by Type (Damper Bushings, Bump stops, Top Mounts, Suspension Arm Bushings, Subframe Bushings and PT Mounts); Suspension Type (McPherson, Double Wishbone, Multilink and CTBA); and Vehicle Segment (A/B, C, D, E, F and SUV (A, B, C, D and E))
Automotive Bushing Technologies Market 2025 by Types, Application, Technology, Opportunities, End Users and Regions | The Insight Partners
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McPherson and Coupled Torsion Beam Axle (CTBA) suspension systems occupy lesser horizontal and vertical spaces and are therefore used by the car manufacturers to reduce the overall cost of the cars. These types of suspension systems are typically used in the lower segment and entry level cars such as Class A and Class B. Also, double wishbone and multi-link suspension systems occupy more engine spaces and are expensive systems as compared to the other two. These two suspension systems however offer the best stability and dynamic response to a car while it is moving and are therefore used in premium and luxury cars. The growth of this technology is very high as more and more countries are increasing investing to implement in this technology for sustainability and easier car maintenance factors. In the forecasted period, the automotive bushing technologies market is estimated to grow at a good pace. Some of the key players contributing significantly to the market are Vibracoustic GmbH, BOGE GmbH, Continental AG, Tenneco, Inc., and Federal Mogul LLC.
Key findings of the study:
- From a growth perspective, India in the Asia-Pacific region is anticipated to witness a lucrative CAGR growth rate of 5.9% during the forecast period
- Based on vehicle segment, the Class D vehicle segment is projected to witness significant lucrative profitable opportunities with projected CAGR growth rate of 5.2%
- Based on suspension type, the multi-link suspension segment is projected to grow with a CAGR of 4.1%
A multi-link suspension is an independent type of suspension that has been derived from the double wishbone suspension and consist of three or more laterals arms and one or more longitudinal arms which are not required to be of the same length and can be angled away from their natural directions. Each of these arms are jolted to the chassis and at the joints bushings are provided. The bushings at the joints enable the multi-link suspension arms to operate in tension and compression. The arms are joined at the top and bottom of the spindle. When this spindle turns for steering, it actually alters suspension's geometry by torqueing all suspension arms. Multi-link arrangements are used on both the front and the rear suspensions.
China and India are densely populated countries and thus, the number of passenger cars on the roads in these countries are very high. Decent disposable incomes with the consumers have translated into the purchase of a large number of entry-level to medium-range cars and therefore, these two countries are highly lucrative for entry-level and medium range car segments. In addition to this, China and India are considered to be largest manufacturing hubs globally on account of several factors. Lower labor wages compared to other countries and supportive favorable Government policies in both countries have attracted several foreign direct investments in many industrial fields including automotive. The rapidly growing economies have translated into rising per-capita incomes and consumer expenditures. Because of this, APAC region witnessed very high growth in the sales of automobiles in the recent times.
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