According to a new report published by Allied Market Research, titled, “Composite Bearings Market by Material Type, Application – Global Opportunity Analysis and Industry Forecast, 2021-2030.” The report offers key drivers that propel the growth in the global market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
Composite bearing have a property of low friction, low heat build-up and no cold flow conditions. The weight could be reduced and provides better efficiency by replacing the conventional greased bronze bushings with composite bearings in industrial applications.
The superior mechanical properties like wear resistance, self-lubrication and relatively longer product life, is propelling the growth of the composite bearings market. Furthermore, low maintenance cost is a noteworthy influence that is growing the demand for composite bearings in the market. This is due to the properties of composite bearings, such as better corrosion and fatigue resistance and operational and dimensional stability at elevated temperatures and harsh environments as compared to that of traditional bearings.
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The report offers key drivers that propel the growth in the global Composite Bearings market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
Leading market players analyzed in the report include Arkema, ACM Composites, AST Bearings LLC, CIP Composites, CSB Sliding Bearings Pvt. Ltd., Federal-Mogul Corporation, Franklin Fiber Lamitex, GGB Bearing Technology, H4 Marine Limited, Huntsman Corporation, Mitsubishi Plastics, Inc., Polygon Company, RBC Bearings Incorporated Hycomp LLC, and Rexnord Corporation. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
The North America region is anticipated to be the prominent market for composite bearings owing to its growing demand from the industries such as construction & mining and aerospace. The Asia-Pacific nations like China, Japan and India are one of the fastest growing markets for the composite bearings due to their rapid developments in their agriculture, mining, construction, automobile and other industries.
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The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
Key Benefits
- The report provides a qualitative and quantitative analysis of the current Composite Bearings market trends, forecasts, and market size from 2021 to 2030 to determine the prevailing opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market report also provides an understanding of the current position of the market players active in the Composite Bearings industry.