"Market Intelligence for High-Geared Performance"
The global automotive bushing market size was valued at USD 159.18 billion in 2023. The market is projected to grow from USD 164.38 billion in 2024 to USD 253.93 billion by 2032, exhibiting a CAGR of 5.59% during the forecast period.
Automotive bushing acts as a cushion between various parts that control the movement between the joints while reducing the noise, vibration, and harness. Various types of bushing are used across the vehicle, such as leaf spring bushing, steering rack bushing, control arm bushing, shock absorber bushing, and flanged bushing. The bushing ensures reduced transmission of shock and vibration between the vehicle parts. Rubber bushing in the automotive industry helps to improve drivers' safety and comfort, minimize noise, and reduce damage arising from vibrations.
The automotive bushing market growth is attributed to the growing automotive production, increasing popularity of lightweight vehicles, and rapid shift toward electric vehicles. The surging adoption of luxury vehicles that offer more comfort while driving is another factor enabling the market growth. For instance, in2021, Mercedes-Benz India reported increased sales by 42.5% in 2021 compared to 2020. The increase in luxury vehicles led to the high demand for automotive bushing due to the growing need for comfort for drivers and passengers. Rubber bushings are most commonly used in vehicles, enabling automotive manufacturers to meet noise, vibration, and harness standards.
The COVID-19 pandemic negatively impacted automobile production activities across the globe. Many automobile manufacturers temporarily halted or reduced production during the initial phases of the pandemic. This slowdown in manufacturing would affect the demand for various automotive components, including bushings. The automotive industry, including many others, experienced disruptions in supply chains due to lockdowns, restrictions, and factory closures. This led to delays in producing and distributing automotive components, including bushings.
Growing Demand for NVH Analysis Techniques to Analyze Vehicle Performance
The Noise, Vibrations, & Harness (NVH) analysis enables measuring and modifying passenger and commercial vehicle noise and vibration characteristics. The NVH analysis helps automotive manufacturers improve the design process of new automobiles. It further helps to improve the comfort and performance of new vehicles. The OEMs emphasize vehicles that reduce weight, improve stiffness, are easy to model, reduce cost, and develop an environment-friendly design. These factors enable automotive component manufacturers to produce innovative automotive bushing that can sustain various parameters of the NVH analysis.
Request a Free sample to learn more about this report.
Growing Demand for Lightweight Vehicles to Fuel Market Growth
The growing focus on lightweight vehicles globally is expected to shift the demand for lightweight bushing. The increasing demand for lightweight passenger and commercial vehicles has prompted automotive manufacturers to use lightweight raw materials. The automotive manufacturers are emphasizing rubber and polyurethane material for the bushing, which helps reduce the overall weight of vehicles. Lightweight bushing helps vehicles reduce excess vibrations and noise, enhance the lifespan of the engine & connected sensor components, and safeguard transmission and vital parts.
Growing automation and the advent of ‘Industry 4.0’ are expected to support the development of luxury vehicles globally. The increase in disposable income of consumers is enabling the switch toward luxury vehicles, resulting in the growing demand for lightweight bushing. Automakers are continually working to improve fuel efficiency and reduce emissions. Lightweight materials and efficient suspension systems, where bushings play a crucial role, contribute to achieving these goals.
Rising Demand for Comfort and Safety of On-road Vehicles to Drive Market Growth
The increasing emphasis on improving vehicle comfort, safety, and the quality of rides is expected to fuel the market growth. Furthermore, stringent government regulations and the availability of multiple vendors offering luxury vehicles are enabling OEMs to offer a more improved quality of vehicles. The growing demand for luxury vehicles is increasing the demand for high-quality automotive bushing to improve the suspension of vehicles on the road. Better bushing helps OEMs to deliver vehicles that have reduced vibrations and noise and offer more comfort and safety to the passengers and drivers.
Therefore, automotive manufacturers are emphasizing the NVH analysis of new vehicles to ensure they have fewer vibrations and noise. The growing demand for luxury vehicles with enhanced safety and comfort is expected to support the market growth over the forecast time period.
Lack of Standardization of Automotive Bushing May Restrain Market Growth
Automotive bushing is not standardized as each vehicle has different bushing per vehicle specification and features. Various bushings are available in the market, but they do not have specific standards as they are associated with various parts of the vehicles. The lack of standardization of the bushing increases the cost of manufacturing for OEMs.
The development of various new model vehicles enables market players to invest in design. The increase in the overall operational cost of manufacturing bushing of the various standards is expected to hinder market growth.
Surging Demand for Luxury and Lightweight Vehicles to Fuel the Adoption of Suspension Bushing
By application, the market is segmented into suspension, engine, chassis, interior, exhaust, and transmission.
The suspension segment held the highest market share in 2024. The increasing popularity of luxury vehicles that give more comfort on roads in bad conditions is propelling the demand for automotive bushing for suspension applications. The automotive suspension bushing is considered an important part of the vehicle as it reduces the friction between the metal parts by controlling their movement. The on-road vehicles go through events of sudden acceleration and brakes, which may lead to skids, collisions, or flips. Automotive suspension bushing enables the vehicle to survive skids, flips, and collisions in various road conditions.
The chassis segment held a significant market share in 2024 due to the growing demand for better vehicle design which can provide more comfort to passengers. Automotive manufacturers are emphasizing on building robust vehicle chassis to improve the on-road experience of drivers and passengers. The growing popularity of electric vehicles has unique requirements for chassis components, including bushings. EVs often have different weight distributions and require specialized suspension systems, increasing demand for custom bushing solutions.
To know how our report can help streamline your business, Speak to Analyst
Passenger Car Segment to Dominate Owing to Growing Global Vehicle Demand
The market is divided into passenger cars and commercial vehicles based on end-use.
The passenger cars segment is expected to dominate the market due to the globally rising demand for passenger vehicles. Stringent government regulations on lightweight passenger cars enable manufacturers to integrate lightweight bushing into passenger vehicles. Consumers increasingly prioritize comfort and ride quality. Automotive bushings are crucial in reducing vibrations, noise, and harshness, contributing to an improved and smoother driving experience. Modern passenger cars have unique design requirements, including aerodynamics, weight distribution, and overall vehicle dynamics. Bushings are designed to meet these specific needs. All these factors are responsible for the surging demand for automotive bushings.
The commercial vehicles segment is expected to grow at the highest CAGR from 2024 to 2032 due to increased manufacturing and sales of commercial vehicles. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), the light commercial vehicles manufactured in 2021 were 18.59 million, which was 8% greater as compared to 2020. The rise in vehicle manufacturing activities is expected to propel the demand for automotive bushing.
Well-Established Automotive Component Industry in China and Japan to Fuel Market Growth in Asia Pacific
Regionally, the market is categorized into North America, Europe, Asia Pacific, and the rest of the world.
Asia Pacific Automotive Bushing Market Size, 2023 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
Asia Pacific dominated the automotive bushing market share in 2023 due to growth of the automotive industry in the region. The growing investment in advanced automotive activities in the region is expected to fuel market growth. The supportive government initiatives in India and China, such as ‘Make in India’ and ‘Startup India’, are set to fuel the development of advanced manufacturing facilities for automotive components. The growing demand for heavy commercial vehicles due to increasing industrial activities in the region is expected to drive market expansion.
Europe held a significant market share in 2023 due to the presence of many leading automotive manufacturers such as Volkswagen AG, Stellantis NV, Mercedes-Benz Group AG, Bayerische Motoren Werke (BMW) AG, and Renault SA. These players are emphasizing the development of advanced luxury vehicles with high-quality interiors. These advanced luxury vehicles are integrating bushing to improve the quality and safety of passengers’ travel experiences.
The growing smart manufacturing initiatives in the Middle East region are expected to fuel the market growth.
Leading Market Players Emphasize on the Development of Innovative Automotive Bushing
The competitive landscape includes many major and innovative key players offering automotive bushing. The key players operating in the market emphasize developing innovative bushing to support the rapidly changing automotive industry demand. For instance, in February 2022, Continental AG partnered with AGCO Corporation, a leading manufacturer of agriculture components, to jointly develop transmission bushing for the latest Fendt 200 Vario compact tractor model to ensure reduced vibrations and noise.
The automotive bushing market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, vehicle type, design, and technology. Besides this, the report offers an insight into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.
An Infographic Representation of Automotive Bushing Market
To get information on various segments, share your queries with us
ATTRIBUTE | DETAILS |
Study Period | 2019-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2019-2022 |
Growth Rate | CAGR of 5.59% from 2024 to 2032 |
Unit | Value (USD Billion) |
Segmentation | By Application
By End-use
|
By Geography
|
Fortune Business Insights says that the market was valued at USD 159.18 billion in 2023 and is projected to reach USD 253.93 billion by 2032.
The market is expected to register a CAGR of 5.59% during the forecast period (2024-2032).
The growing adoption of lightweight luxury vehicles offering more comfort is expected to fuel the market growth.
Asia Pacific led the market in 2023 and is expected to depict substantial growth over the forecast period.
The suspension segment held the leading market share in 2023.
Continental AG, Vibracoustic SE and ZF Friedrichshafen AG are few of the leading market players operating in the industry.
US +1 833 909 2966 ( Toll Free )