The growth of the automotive bushing technologies market is driven by various factors such as the need for enhanced safety, comfort, and ride quality and the growing automotive aftermarket. However, the growth of the market can be hindered due to the volatile raw material prices.
The global automotive bushing technologies market has been segmented based on material, product type, sales channel, and vehicle type. On the basis of material, the global market has been segmented into rubber and polyurethane. In 2018, the rubber segment accounted for the larger market share of 80.90% with a market value of USD 4,959.8 million. It is projected to grow at 5.04% CAGR during the forecast period.
On the basis of product type, the global market has been segmented into suspension bushing, damper bushing, top mounts/shock mounts, subframe bushing, stabilizer bar bushing, bump stops, and PT bushing. In 2018, the suspension bushing segment accounted for the considerable market share of 34.20% with a market value of USD 2,096.5 million. It is projected to grow at 4.71% CAGR during the forecast period.
On the basis of sales channel, the global market has been segmented into OEM and aftermarket. In 2018, the OEM segment accounted for the substantial market share of 66.88% with a market value of USD 4,100.3 million. It is projected to grow at 4.86% CAGR during the forecast period.
On the basis of vehicle type, the global market has been segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. In 2018, the passenger car segment accounted for the substantial market share of 78.07% with a market value of USD 3,805.1 million. It is projected to grow at 5.97% CAGR during the forecast period.
