Press release
Composite Bearings Market to Witness Exponential Growth By 2025
Composite bearings are light in design – it can be one tenth the weight of the traditional rolling element bearings. No heavy metals are used in the manufacturing of composite bearing. Composite bearings are suitable components in automotive engineering and are used in various applications from powertrain to car interiors. Moreover, composite bearing could be customized to meet the individual requirement of many applications.
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Composite Bearings Market: Dynamics
The increase in the demand from end use industries such as automotive, marine, agriculture, and aerospace among others are driving the demand for composite bearing market. One of the factor for the increase in the demand for composite bearing is the demand for lightweight components is rising from across the industries. Other macro-economic factors which are enhancing the composite bearings market are increasing vehicle production, growth in aircraft manufacturing, rising infrastructural activities increasing the demand for construction & mining industry. Along with this, the mechanical properties of composite bearings are better than its competitor which provide long & durable life cycle with minimum maintenance costs. However, stiff competition from single metal bearings is hampering the growth of composite bearing market.
Composite Bearings Market: Outlook/Trend
Many different types of bearings are used in aircrafts. In recent years, due to various stringent fuel efficiency norms put in place by governments to achieve fuel economy, manufacturers are making effort to reduce the weight of bearings. Manufacturers are trying to acquire new technologies to overcome such problems. In off highway construction equipment, composite bearing are used from loaders to hydraulic transmission system. Owing to factors such as increase in global warming, rise in sea levels and eruption of extreme weather conditions, regulatory bodies such as EPA (Environment Protection Agency) and ICAO (International Civil Aviation Organization) are developing regulations which will cut carbon emissions from end use industries.
Composite Bearings Market: Regional Outlook
North America region is expected to be the prominent market for composite bearings due to its rising demand from the end user industries such as aerospace. This growth is due to the advanced properties of composite bearings such as lightweight, fatigue & corrosion resistance, and stability among others which has enhanced the composite bearings market. Western Europe and Asia Pacific (excluding Japan) region have significant share in the global composite bearing market. This is due to the strong presence of number of automotive, aerospace, construction, agriculture companies in Western Europe and Asia Pacific (excluding Japan).
Composite Bearings Market: Market Participants
Examples of some of the market participants identified in the composite bearings market across the globe are:
AB SKF
Schaeffler Group
CIP Composites
Trelleborg AB
TriStar Plastic Corp.
Rexnord Corporation
Saint-Gobain S.A.
Federal-Mogul Corporation
RBC Bearings Incorporated.
Tufcot Engineering Ltd.
Franklin Fibre Lamitex Corp.
HyComp LLC
Soucy Composites Inc.
Tiodize Technologies
AST Bearings LLC
VNC Bearing, Inc.
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