Press Release: Global Automotive Suspension Bushes Market to Register 4% CAGR over 2019_2027; Europe to Account for a Significant Value Share
Based on product type, control arm bushes are expected to remain the widely utilized Automotive Suspension Bushes throughout the forecast period. The passenger cars vehicle type segment will wield major share throughout the forecast years in the global Automotive Suspension Bushes market.
Sales of Automotive Suspension Bushes around the globe is estimated to have reached a value of US$ 2,224.6 Mn by 2018 end while observing 3.6% Year-on-Year growth over the previous year. Europe, spearheaded by Germany, is projected to account for a prominent share in the Automotive Suspension Bushes market during the forecast period. The Middle East & Africa region is projected to grow at a prominent rate in the global Automotive Suspension Bushes market in the coming years.
Global Automotive Suspension Bushes Market Dynamics
The lifespan of Automotive Suspension Bushes primarily depends on the driving condition of vehicles. In good road conditions, Automotive Suspension Bushes exhibit a good lifespan of five to eight years. However, regular maintenance is required. On the other side, in bad road conditions, operational life of Automotive Suspension Bushes declines. This, in turn, gives a boost to the aftermarket segment in the global Automotive Suspension Bushes market.
Moreover, increasing automotive production owing to numerous applications of vehicles in logistics sector has been the key factor boosting the growth of the global Automotive Suspension Bushes market.
However, the advent of SUVs has created a new challenge for the Automotive Suspension Bushes manufacturers across the globe. Nowadays, consumers are demanding reduced vibration, noise and harness. The aforementioned factors are expected to restrict the growth of the global Automotive Suspension Bushes market over the forecast years.
Introduction of new products and acquisition activities across the value chain of Automotive Suspension Bushes have been found to be the key trends identified in the global marketplace of suspension bushes. In the recent past, various prominent manufacturers have introduced new products and have also been found to be involved in acquisition activities.
Global Automotive Suspension Bushes Market Forecast
Among material type segments, the polyurethane segment is anticipated to wield major share in the overall Automotive Suspension Bushes market. The Polyurethane segment is anticipated to be followed by rubber and others segment. Polyurethane suspension bushes possess various advantages over their rubber counterparts, such as better load bearing capacity, higher cut, abrasion and tear resistance, etc.
China, in the global Automotive Suspension Bushes market, is expected to register high sales during the forecast period and is also expected to remain a high value market. The Middle East & Africa region is anticipated to witness an above-average CAGR in the global Automotive Suspension Bushes market. In terms of market value, the top 3 countries are projected to account for more than 40% of the overall incremental opportunity created during the forecast period in the global Automotive Suspension Bushes market.
Global Automotive Suspension Bushes Market: Competitive Landscape
Some of the key market participants included in this report on Automotive Suspension Bushes market are Bonaprene Products Ltd., Tenneco, Inc., Fibet Group, GMT Rubber-Metal-Technic Ltd., SuperPro, Shanghai Pepsen Polyurethane Co., Ltd., Emdet Jamshedpur Pvt. Ltd., Teknorot, Energy Suspension, EPTG Ltd., American Urethane, Inc. and others.
Globally, a large number of global as well as regional players are involved in the production of Automotive Suspension Bushes and hence, the market is significantly fragmented. Key players involved in the production of Automotive Suspension Bushes have been focusing on product innovation and new product launches.
DISCLAIMER: This information is published as per the press release sent to us. It has not been verified or ratified by OVERDRIVE.
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