Global Composite Bearings Market accounted for USD 3.50 billion in 2016 and is projected to grow at a CAGR of 8.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Composite Bearings Market, By Product Type (Fiber Matrix, Metal Matrix); By Application (Construction & Mining, Automotive, Agriculture, Aerospace, Marine, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) and Forecast to 2024.
Major Market Drivers:
- Superior mechanical properties of composite bearings
- Increasing use of self-lubricating composite bearing
Market Restraint:
- High raw material & production cost
- Competition from single metal bearings
Short Definition of Global Composite Bearings Market:
A composite bearing is defined as equipment that is employed to control friction and provide separation between two moving parts. The unique characteristic of a composite bearing is that it is made from a mixture of materials such as resin reinforced with fiber. There is a growing demand for composite bearing in construction & mining, automotive, agriculture, aerospace and marine activities which is expected to be one of the major drivers of the market over the next seven years.
Segmentation of Global Composite Bearings Market:
The composite bearings market is segmented on the basis of product type into fiber matrix and metal matrix.
On the basis of application, the market is segmented into construction & mining, automotive, agriculture, aerospace, marine and other.
On the basis of geography, the composite bearings market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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Competitive Landscape:
The global composite bearings market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors:
- ACM Composites
- AST Bearings LLC
- CIP Composites
- CSB Sliding Bearings (India) Pvt. Ltd.
- Federal-Mogul Corporation
- Franklin Fiber Lamitex
- GGB Bearing Technology
- H4 Marine Limited
- Hycomp LLC
- Polygon Company
- RBC Bearings Incorporated
- Rexnord Corporation
- Saint-Gobain S.A.
- Schaeffler Group
- Spaulding Composites, Inc.
- Technoslide (Pty) Ltd
- Tiodize Co., Inc.
- Trelleborg Group
- Tristar Plastic Corp.
- VNC Bearing
Research Methodology of Composite Bearings Market:
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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