Market Size of Automotive Bushing Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 164.53 Billion |
| Market Size (2029) | USD 208.30 Billion |
| CAGR (2024 - 2029) | 4.83 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Bushing Market Analysis
The Automotive Bushing Market size is estimated at USD 164.53 billion in 2024, and is expected to reach USD 208.30 billion by 2029, growing at a CAGR of 4.83% during the forecast period (2024-2029).
- The COVID-19 pandemic had a significant impact on the automotive bushing market. The pandemic caused a number of disruptions to the automotive industry. Many automotive manufacturers were forced to shut down production due to the pandemic. This led to a decrease in demand for automotive bushings.
- The pandemic also caused disruptions to the automotive supply chain. This made it difficult for automotive manufacturers to obtain the materials they needed to produce bushings. Economic slowdown: The economic slowdown caused by the pandemic also led to a decrease in demand for new vehicles. This had a knock-on effect on the demand for automotive bushings. But as the situation got back to normal and the production of vehicles increased significantly, it drove the market in the coming year.
- With the growing standards of vehicles, it is essential for a vehicle to have minimum levels of noise, harshness, and vibrations. The increased concern about noise and air pollution amongst the end users and strict government norms for automobile manufacturers to ensure that their vehicle produces minimum levels of noise pollution have been the major growth drivers in the automotive bushing market.
- With the increase in income levels of the people, they are spending their excess money on buying new and luxurious vehicles. It is expected during the forecast period that the sales of automobiles all around the world will grow. With an increase in sales of automobiles, the market for bushing will also increase as it is an essential material in various parts of an automobile.
