Composite Bearings Market by Product Type (Metal Matrix, Fiber Matrix), Application (Construction & Mining, Automotive, Agriculture, Aerospace, Marine), Region - Global Forecast to 2021
“The composite bearings market is projected to register a CAGR of 7.88% during the forecast period”
The composite bearings market is projected to reach USD 5.04 billion by 2021, at a CAGR of 7.88% from 2016 to 2021. The major drivers stimulating the composite bearings market are, the superior mechanical properties leading to a long product life, along with low maintenance cost, and the increasing use of composite bearings in demanding applications. The major restraining factors of this market include the high raw material and production cost, and stiff competition from single metal bearings.
“Agriculture is the fastest growing application segment in the composite bearings market.”
The agriculture application constituted a major part of the composite bearings market in 2015. The superior properties exhibited by these advanced bearings is driving the composite bearings market in the agriculture application segment, as these advanced bearings offer complete solutions including being light in weight, providing dimensional & operational stability at high temperatures, and resistance against corrosion in comparison to traditional materials such as single metal bearings.
“North America is the fastest-growing market for composite bearings”
North America is expected to be the fastest-growing market for composite bearings from 2015 to 2021. The main factors that are expected to contribute to this growth are the increasing demand for composite bearings from the construction & mining, and agriculture industries. Being light in weight, providing resistance to corrosion & fatigue, dimensional stability and operational stability at high temperatures are some of the properties driving the demand for composite bearings in the North American region.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
By designation- C Level- 30%, Director Level- 25%, and Others- 45%
By region- North America- 30%, Europe- 25%, Asia-Pacific- 30%, Middle East & Africa-10%, and Latin America-5%
The report provides a comprehensive analysis of companies listed below:
Schaeffler Group (Germany)
Saint Gobain (France)
Trelleborg Group (Sweden)
RBC Bearings Incorporated (U.S.)
Rexnord Corporation (U.S.)
Polygon Company (U.S.)
HyComp LLC (U.S.)
Tiodize Co., Inc. (U.S.)
TriStar Plastic Corp. (U.S.)
Spaulding Composites (U.S.)
This report covers the global composite bearings market and forecasts the market size until 2021. The report includes the market segmentation by product type (metal matrix and fiber matrix), by application (construction & mining, agriculture, automotive, aerospace, marine, and others), and region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America). Porter’s five forces analysis along with the drivers, restraints, opportunities and challenges have also been discussed in the report. In addition it provides company profiles and competitive strategies adopted by the major market players in the global composite bearings market.
Reasons to buy the report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global composite bearings market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand competitors and gain more insights to better their positions in their businesses. The competitive landscape section includes the competitor ecosystem, new product launches, agreements, expansions, and mergers & acquisitions.