Automotive bushing technologies market is expected to grow from US$ US$ 7754.1 Mn in 2017 to US$ 9947.2 Mn by 2025 at a CAGR of 3.6% between 2017 and 2025.
A suspension system plays a critical role in ensuring a smooth ride for the occupants of the car. These solid suspension parts are linked to each other and transmit energy when the vehicle is on the move. Bushings are small components that are typically made of rubber or polyurethane material and act as isolators to the noise and vibrations that are transmitted by the solid metal suspension parts. These bushings enable reduction in the vibrations and noise and thereby ensure a smooth & comfortable ride for the passengers. Functions of bushing include vibration isolation, provide cushioning and also reduce the friction between solid metal parts in the vehicle. Typically, bushings are applied inside a car wherever there are metal joints and mounts are needed. Alternator bushings, control arm bushings, shock absorber mountings, sway bar links, transmission shifters, motor mounts and sub-frame mounts are some of the most commonly used bushings in passenger cars. The South America automotive bushing technologies market region is expected to witness a CAGR growth rate of 3.1% in the coming years.
Exhibit: Automotive Bushing Technologies Market by Region
Automotive Bushing Technologies Market Insights
Surge in volume of vehicle production
Globally, the trend of urbanization is growing at an exponential growth rate. Due to this, the average disposal income of the population staying in urban cities is also increasing, allowing them to enhance their lifestyles. The number of passenger cars operated worldwide is therefore bolstering, further creating a demand for production of passenger cars to cater to the ever increasing demands. The production of vehicles has witnessed a steady growth in the post-recession era since the year 2010. Also, lowered interest rates on loans favored the much needed growth of the automobile industry. Over the last 7 or 8 years, the passenger car production has consistently witnessed a growth close to 2% year-on-year. Major percentage of the automotive bushings are sold and distributed directly to the automotive OEMs and a small share of the bushings market remains for the after-market sales. Generally, a single passenger car consists of a dozen or a little more number of bushings integrated into it. Subsequently, driving the growth for automotive bushing technologies market in the coming years.
Technological advancement for developing advanced vehicle suspension systems
Even when the suspension systems form one of the most crucial components inside a vehicle for a smoother and enjoyable ride in a car, they haven’t been too popular and publicized components since earlier times. Automakers have been putting in continuous efforts and capitals in refining the designs of suspension systems. Automakers today are looking for a perfect tradeoff for the vehicle suspension system that offers a smooth an enjoyable ride as well as a race-worthy handling to the driver of the car. Some of the recent innovations such as magnetic dampers, active curve tilting and hydraulic roll control in the field of suspension systems would influence the bushing market over the next few years. Thus, the growing investment towards development of superior suspension systems is expected to provide numerous profitable opportunities for the automotive bushing technologies market players in the coming years.
Automotive Bushing Technologies Market – Suspension Type
In the global automotive bushing technologies market for suspension type segment, the McPherson suspension systems are the most popular suspension systems used in passenger cars by the automotive OEMs. This suspension system uses a single component instead of two components that is a suspension mount for the wheel and a pivot for the steering. A combination of these two components were being used conventionally in the earlier times by the automobile manufacturers for the cars. The integration of these two components combined into a single system results in an inexpensive suspension system available for the customers. Apart from these, other advantages associated with McPherson suspension systems include the lower cost of manufacturing and ease of manufacturing of the component.
Automotive Bushing Technologies Market – Vehicle Segment
For the global automotive bushing technologies market by vehicle segment, the European automakers have established a classification standard for the passenger cars which is based on the mass of the vehicle and area of the vehicle parameters. The classification is widely used in Europe. With increasing number of passenger cars globally, automakers have found it convenient to classify cars as per the Euro Car Segment in order to streamline certain car models. Along with simplifying the classification, this scheme also reduces the number of categories. The classification of passenger cars is done into Class A/B, Class C, Class D, Class E, Class F and SUV segment. Due to the lower price point of vehicle pertaining in this class segment, OEMs tend to restrict them from applying complex bushing technologies such as vertical control arm bushes and hydro bushes among others. Additionally, power train mounts in this segment of vehicles are majorly single compound rubber mounts instead of using hydraulic or pneumatic mounts. Even for sway bar or anti roll bar bushings mechanically bonded bushes are used to cut down the production cost. Moreover, free rubber isolators are generally used for exhaust pipe isolators.
Exhibit: Automotive Bushing Technologies Market by A/B Vehicle Class
Automotive Bushing Technologies Market - Strategic Insights
Strategies such as acquisition, market initiative and new development was observed as the most adopted strategy in global automotive bushing technologies market. Few of the recent strategies by some of the players’ operating in the automotive bushing technologies market landscape are listed below-
2018: With an integrated fluid system, the Continental AG hydraulic bushings products offer exceptional load resistance around 1,230 N to 3,000 N. These Hydro Bushings can be used in commercial vehicles as engine and cab mounts.
2018: The company, Tenneco Inc. entered into an agreement with Freightliner to supply Control Torque bushings for its Cascadia Class 8 Tractor. These Control Torque bushings demonstrate low torsional breakaway and high conical stiffness.
2016: The company Federal-Mogul LLC patented an innovative vertical control arm bushing under the brand name “MOOG” that offers an exclusive ball-and-socket conformation that contributes to up to 10 times longer component service life than original equipment style parts.
GLOBAL AUTOMOTIVE BUSHING TECHNOLOGIES MARKET SEGMENTATION
Automotive Bushing Technologies Market – By Type
The List of Companies
1. BOGE Rubbers & Plastics
2. Continental AG
3. Cooper-Standard Holdings Inc.
4. Federal-Mogul LLC
5. Hyundai Polytech India
7. Paulstra SNC
8. SumiRiko AVS Germany GmbH
9. Tenneco Inc.
10. Vibracoustic GmbH
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the automotive bushing technologies market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.