Composite Bearings Market to experience an impressive growth of 9.2% during 2020-2025
January 31, 2020
Composite Bearings Market is likely to witness an impressive CAGR of 9.2% over the next five years.
The market for composite bearings is driven by
- finest mechanical properties supporting an extended product life with little upkeep expenditures and
- the growing usage of composite bearings in various demanding applications
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Composite Bearings Market Segment Insights:
By Product Type:
Based on the product type, the market is segmented as fiber matrix and metal matrix. The metal matrix segment holds a major share of the market, owing to its operational sturdiness, elevated strength in severe environments, and economical cost. These properties enable metal matrix to be extensively employed in various end-use industries, which in turn, is driving the growth of this segment during the forecast period.
By Application Type
Based on the application type, the market is segmented as construction & mining, agriculture, automotive, aerospace, marine, and others. The agriculture application segment is estimated to be the fastest-growing segment in the coming five years. Composite bearings deliver various properties, such as lightweight, operational steadiness at elevated temperatures, corrosion-resistance, and dimensional permanency against their conventional counterparts, which is further strengthening the global market.
By Region:
In terms of regions, North America is estimated to be the fastest-growing market for composite bearings in the coming five years. Asia-Pacific is also expected to offer substantial growth opportunities during the forecast period. China and India are the growth engines of the Asia-Pacific region. The market is sustained by the increasing demand for composite bearings in various end-use industries, such as automotive, and construction & mining in the region.
Key Players:
Some of the major players in the composite bearings market are Saint-Gobain S.A., Trelleborg Group, Schaeffler Group, Polygon Company, RBC Bearings Incorporated, Rexnord Corporation, Hycomp LLC, Tristar Plastic Corp., Tiodize Co., Inc., and Spaulding Composites, Inc.
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Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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