“Global Composite Bearing Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global composite bearing market report has been segmented on the basis of product type, application, and region.
Composite Bearing Market: Introduction
Composite bearing is known as an equipment which is used to control friction and offer separation between 2 moving parts. Composite bearing offer unique characteristic that it is produced from a mixture of materials such as fiber along with resin reinforced. Composite bearing includes friction-reducing ingredients and lubricants. In addition, composite bearings are modified to cater individual requirements for various applications including high temperature resistance.
Composite Bearing Market: Dynamics
Increasing awareness about benefits of offered by composite bearings including complete solutions and enhanced properties such as fatigue and corrosion resistant, and light weight has triggered the demand for composite bearing compared to traditional metal bearings in the agriculture industry. Rising need of advanced composite bearing products for specific applications, rising need from emerging regions, and increasing demand for composite bearing from end-use industries such as construction, mining, and automotive, among others, is expected to fuel growth of the composite bearing products. Aforementioned are the key factor expected to drive the global composite bearing market growth in the years to come.
In addition, rapid growth in aerospace and marine industries is among another factor expected to propel growth of the target market over the years to come. Increasing demand for composite bearing owing to its unique properties from various manufacturing industries in developed and developing countries is factor expected to augment the market growth.
However, high raw material and production cost is a major factor expected to restraint growth of the global market to significant extent. Moreover, stiff competition from producer of single metal bearings is another factor expected to restraint the market growth.
Composite Bearing Market: Segment Insights
Among the product type segments, the metal matrix segment is estimated to register highest revenue share in the global composite bearing market, owing to their operational stability in any harsh environments, high strength, and moderate cost. In addition, metal matrix composite bearings are utilized in applications such as construction and mining, automotive, and agriculture, among others, owing to their properties. The metal matrix segment is further estimated to register fastest CAGR over the next 10 years.
Among the application segments, the agriculture segment is expected to register major share in term of revenue in the global composite bearing market. Composite bearings provide various features such as light weight, resistance against corrosion, dimensional stability, operational stability at various temperatures ranges as comparison to conventional materials including single metal bearings. The agriculture segment revenue is expected to record fastest CAGR in the next 10 years.
Composite Bearing Market: Region Insights
North America market is expected to account for major share in terms of revenue in the global composite bearing market. In addition, Asia Pacific composite bearing market is expected to register highest revenue growth, owing to high adoption rate of composite bearing from construction and mining industry. Growing demand of composite bearing in the agriculture and automotive industries in developed countries in Asia Pacific is another key factor expected to drive growth of the composite bearing market in Asia Pacific.
Global composite bearing market segmentation:
Segmentation by product type:
- Metal matrix
- Fiber matrix
Segmentation by application:
- Construction & Mining
- Aerospace and Marine
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Compagnie de Saint-Gobain S.A.
- Trelleborg AB
- Schaeffler AG
- Polygon Company, Inc.
- RBC Bearings Incorporated
- Rexnord Corporation
- Hycomp LLC
- TriStar Plastics Corp.
- Tiodize Co., Inc.
- Spaulding Composites, Inc.
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