Global Composite Bearings Market was valued at US$ 3.77 Bn in 2018 and is expected to reach US$ 7.1 Bn by 2026, at a CAGR of 7.29% during a forecast period.
Global Composite Bearings Market, by RegionBased on product type, metal matrix segment is expected to hold the largest share in the market due to it has various features such as moderate cost, high strength, and working stability in a harsh environment and rising usage of metal matrix bearing in various sector such as construction & mining and automotive. On the basis of application, construction & mining application is expected to hold the largest share in the market during the forecast period due to rising usage of the composite in construction& mining activities as it has various features.
Major driving factors of the market are rising need of long product life with low maintenance cost and growing usage of composite bearings in demanding applications including construction & mining, automotive, and aerospace across globally. In addition, rapid technological advancements in the production of composite bearings are also driving factors of the composite bearings market. The contain detail drivers and trends, which are emerging the market influence. Additional provides market opportunities.
In terms of region, North America held the largest share in the market in 2017 and is expected to maintain its dominance over the fastest period owing to growing demand from the construction & mining and automotive industries and huge demand for their features such as being light in weight, and providing dimensional stability and resistance against fatigue and corrosion. Moreover, technological advancements in the mass production of composite bearings and growing usage of these bearings in the aerospace sector are also boosting the market growth in this region. Asia Pacific is expected to generate the highest CAGR during the forecast period.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Key player’s studies, analyzed, profiled and benchmarked in Composite Bearings Market areArkema, Mitsubishi Plastics, Inc., Huntsman Corporation, CIP Composites, ACM Composites, AST Bearings LLC, CSB Sliding Bearings Pvt. Ltd., Federal-Mogul Corporation, Franklin Fiber Lamitex, GGB Bearing Technology, H4 Marine Limited, Polygon Company, RBC Bearings Incorporated Hycomp LLC, and Rexnord Corporation.
The Scope of the Report for Composite Bearings Market
Global Composite Bearings Market, by Product Type
• Metal Matrix
• Fiber Matrix
Global Composite Bearings Market, by Application
• Automotive
• Construction & Mining
• Aerospace
• Marine
• Others
Global Composite Bearings Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Composite Bearings Market
• Arkema
• Mitsubishi Plastics, Inc.
• Huntsman Corporation
• Arkema
• CIP Composites
• ACM Composites
• AST Bearings LLC
• CSB Sliding BearingsPvt. Ltd.
• Federal-Mogul Corporation
• Franklin FiberLamitex
• GGB Bearing Technology
• H4 Marine Limited
• Polygon Company
• RBC Bearings Incorporated Hycomp LLC
• Rexnord Corporation
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