Yahoo Finance Automotive Bushing Global Market Report 2022: Ukraine-Russia War Impact
Major players in the automotive bushing market are Continental AG, ZF Friedrichshafen AG, MAHLE GmbH, Sumitomo Riko Company Limited, DuPont, BOGE Rubber & Plastics, Vibracoustic GmbH, Federal-Mogul LLC, Paulstra SNC, Oiles Corporation, Nolathane, Keats Manufacturing, Dayton Lamina Corporation, Jotex Rubber Industrial Co.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Bushing Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06370313/?utm_source=GNW
Ltd, and JRB Engineering Works.
The global automotive bushing market is expected to grow from $ 132.99 billion in 2021 to $ 144.31 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The automotive bushing market is expected to grow to $ 176.38 billion in 2026 at a CAGR of 5.1%.
The automotive bushing market consists of sales of automotive bushings by entities (organizations, sole traders, and partnerships) that are useful in absorbing road bumps, controlling the number of movements in the joints, and reducing noise and vibration.Bushings are cushions made from rubber, polyurethane, or other materials.
They are mounted on the joints of cars or other moving components.Automotive bushings get worn out with time and need to be replaced.
Bushings are used in control arms, stabilizer bars, tie rods, shock absorbers, and strut mounts.
The main product types of automotive bushings are damper top mounts, suspension arm bushings, subframe bushings, hydro bushings, engine mounts, and suspension mounts.The damper top mounts are mounted on the top strut.
They are used in vehicles to provide ideal noise-vibration-harshness (NVH) performance and to improve ride comfort, driving safety, and handling.The different vehicle types include passenger cars, light commercial vehicles, and heavy commercial vehicles.
It is used in engines, suspensions, chassis, interior, exhaust, and transmission, and is distributed through several channels such as original equipment manufacturers and the aftermarket.
North America was the largest region in the automotive bushing market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive bushing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Growing vehicle production is expected to propel the growth of the automotive bushing market going forward.A vehicle is a machine with an engine and wheels that transports people or cargo.
Due to rapid urbanization and the expansion of global auto manufacturers, vehicle production has been on the rise in recent years.Since the bushings are used in all vehicles, increased vehicle production simply results in increased demand for the automotive bushings.
For instance, according to the European Automobile Manufacturers’ Association (ACEA), a Belgium-based group in the automobile industry, in 2021, 79.1 million motor vehicles were produced globally, a 1.3% increase from 2020. Therefore, growing vehicle production is driving the growth of the automotive bushing market.
Product innovation is the key trend gaining popularity in the automotive bushing market.The launch of new products gives customers more and better options and better serves the customers, which in turn results in the growth of the market.
For instance, in November 2019, Vibracoustic, a Germany-based supplier for automotive NVH (Noise, Vibration, and Harshness) solutions, launched an innovative steering column bushing.The creative design possesses an elastomer layer around the aluminum core that provides high isolation in the push and pull directions.
Due to its high conical stiffness, it prevents buckling of the steering column. It is more compact and lighter, and sustains its technical characteristics throughout the vehicle’s lifetime.
In June 2022, Apollo Global Management, a US-based high-growth asset management company, acquired Tenneco for an undisclosed amount.This acquisition will help Tenneco invest and grow multiple segments and its global footprint.
Tenneco is a US-based designer, manufacturer, and marketer of automotive products.
The countries covered in the automotive bushing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The automotive bushings market research report is one of a series of new reports that provides automotive bushings market statistics, including automotive bushings industry global market size, regional shares, competitors with automotive bushings market share, detailed automotive bushings market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive bushings industry. This automotive bushing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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