The global automotive trailing arm bushing market is anticipated to witness a market value of US$ 5.93 billion in 2023 and is expected to harness a market value of US$ 11.2 billion by reflecting a CAGR of 6.56% in the forecast period 2023 to 2033. The market for Automotive trailing arm bushing market registered a CAGR of 5.2% in the historical period 2018 to 2022.
The adoption of independent suspensions has increased over the years due to several advantages offered by them. The growth can be attributed to independent suspensions offering more stability to vehicles. The weight of an independent suspension is less which makes it preferred choice for heavy vehicles. Passenger cars usually feature an independent suspension at the front and a dependent suspension at the rear wheel. Hence both independent and dependent suspensions are required. Macpherson strut is one of the most preferred front independent suspension in compact passenger cars. Low manufacturing costs and better stability are attributed to the growth of the MacPherson suspension system.
Growing sales of passenger cards and commercial vehicles is expected to support the growth of automotive trailing arm bushing market during the forecast period. High production rates of original equipment manufacturers is also anticipated to drive market growth. The aftermarket repair and replacement components of automotive trailing arm bushing are also expected to spur the demand for new unit sales in the wake of replacing existing units. Also, the cheap cost of automotive trailing arms is driving the growth rate and creating abundant opportunities for the market expansion.
On the other hand, the extensive use of automotive trailing arms in all terrain vehicles (ATVs) is expected to augment market growth. These vehicles are primarily used for off-road activities and these trailing arms are very crucial functional components in all terrain vehicles, which encounter all kinds of difficult and rugged terrains. Increasing GDP and surging disposable income globally has led to increasing expenditure on leisure activities. This is anticipated to drive market growth in the projected period. There was 4% increase in tourist arrival across the world in 2020 and this created demand for these all-terrain vehicles and it also presented opportunities for the market of automotive trailing arm since they are considered an important part of these off-road vehicles.
Recreational activities offered by tourist spots have increased alongside off-road competitions that involve all terrain vehicles. All terrain vehicle championships like the world off-road championships series (WORCS) held in United States, with off terrain vehicles in challenging conditions are organized by sports authorities at national levels. These factors have driven the sales figures of automotive trailing arm bushing by creating huge demand for all terrain vehicles.
On the regional end, the market of automotive trailing arm bushing in Asia Pacific is expected to be highest by end of the forecast period. This region is projected to account for 39.6% market share by end of the forecast period. The region is also anticipated to record fastest CAGR of 5.9% during the forecast period. The growth is attributed to changing consumer preferences, rising per capita income of middle-class population, and cost advantages of Original equipment manufacturers. Also, the high presence of original equipment manufacturers with large production capacity, high vehicle sales, and a huge customer base is also expected to drive growth of trailing arms market in the region.
Likewise, the market in North America is expected to possess second highest market share. Increasing demand for better comfort in passenger cars has lead to the adoption of multilink and air suspension systems in western countries including United States which is driving sales of trailing arms in this region.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 5.93 billion |
| Projected Market Value in 2033 | US$ 11.2 billion |
| Growth Rate (2023 to 2033) | 6.56% CAGR |
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Recent developments in technology, mergers, acquisitions, and partnerships within the companies involved in designing automotive trailing arm bushing are anticipated to create lucrative prospects for market growth during the forecast period.
The trailing arm bushings attach the axle to the pivot point on the vehicle's frame. They are the part of a vehicle's trailing arm suspension in the vehicle.The trailing arm is held to the vehicle's frame by a bolt that passes through these bushings. The trailing arm bushings aim is to cushion the suspension movement while keeping the wheel on the correct axis.
The trailing arm is a component of the vehicle's suspension system that links the axle to the frame. The trailing arm has a unique feature that distinguishes it from other suspension arms. Because of its reliability and ease of machining, it is very rigid at the wheel point, which prevents false movement for all suspension bushings.
The trailing arm bushings are in addition to the trailing arm itself. These are cushioning rubber or polyurethane components that reduce friction between suspension pieces.Furthermore, on the basis of the distribution channel. Because of the aforementioned reasons, the Automotive trailing arm market is expected to expand significantly in the coming years.
With the on-road fleet of all vehicle classes, including passenger cars and commercial vehicles,expanding at a healthy rate, the automotive trailing arm bushing market growth in turn is expected to be primarily driven by automotive OEM production rates.
As a result, the number of passenger cars in use around the world is growing, generating a demand for passenger car production. To meet these ever-increasing demands, automotive production has been steadily increasing. The aftermarket repair and replacement component of automotive trailing arm bushing is also expected to usher up demand of new unit sales in wake of replacement of existing units.
The key restraint for market growth in the Automotive trailing arm bushing market is expected to be due to the current attritionin few regional markets in terms of new vehicle sales and associated production. Additionally, low product replacement rate is also said to be resulting in sluggish sales movement of new units in the OEM and Aftermarket segments.
Furthermore, in the coming years, market players will see an opportunity in the form of hybrid fuel and electric vehicles to provide personalized services and expand their business footprint. Thus due to current moderate pace in automotive production the industry is restraining the growth of the market substantially.
The fundamental trend in the industry has been contract component supply agreements between automotive trailing arm bushing manufacturers and automotive vehicle OEMs. Automotive trailing arm bushing manufacturers have used an optimal pricing mechanism when it comes to high quality or aftermarket spares.
Instantaneous development in the automotive sector contracts to introduce, as a result of which automotive firms are outsourcing their production operations to third-party organizations, allowing for increased auto industry budgets, more-intense competition, product releases and introductions, and other notable market developments are constraining the growth of automotive trailing arm bushing market.
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The demand for automotive trailing arms can be divided into four categories: weapon type, vehicle type, sales channel, and application. The automotive trailing arm market can be divided into two types based on arm type: trailing arm and semi-trailing arm.
The automotive trailing arm market can be divided into HCV, passenger cars, LCV, and other vehicles based on vehicle type. The global demand for automotive trailing arms can be divided into OEM and aftermarket segments depending on the distribution channel. The global demand for automotive trailing arms can be divided into two categories based on application: front axle and rear axle.
Since the installation of automotive trailing arm bushing is directly proportional to vehicle production rate, the growth rate of the market is expected to be similar to that of the market for fuel-operated vehicles.
As the automotive trailing arm bushing market migrates toward energy efficient and economical pricing of vehicles and associated ancillaries, manufacturers of automotive trailing arm and bushing market must adopt improved designs as well as material quality in order to maximize their competitive advantage toward new vehicle configurations.
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During the current and foreseeable years, North Americais projected to hold a significant share of the global Automotive trailing arm bushing market, followed by Latin America. Theemerging countries in Latin America and MEA are expected to expand rapidly in the automotive trailing arm industry.
The United States and Europe are projected to gain market share due to their high adoption of order fulfilment technologies by industries primarily in the automotive sector. After China, the United States is in second place, driving demand for automotive trailing arm bushings in these regions.
South Asia is being hailed as the next emerging market, with hubs such as India and the ASEAN countries experiencing rapid growth in recent years. The increase can be attributed to rising automotive sector sales as well as the industry's rapid digitalization.
The demand for Automotive Commutators in Europe is expected to rise at a moderate pace, owing to increased competition and the renovation of old technology in the area.
Some of the key market participants in the global of Automotive trailing arm bushing Market, identified across the value chain include:
The research report on the Automotive trailing arm bushing market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Automotive trailing arm bushing Market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, vehicle type, and sales channel.
The global Automotive trailing arm bushing Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global Automotive trailing arm bushing market can be segmented on the basis of Arm type, vehicle type, sales channel and shape type.
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