Composite Bearings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Composite Bearings Market Analysis
The composite bearings market is expected to grow at a CAGR of over 6% during the forecast period. Major factor driving the market studied is growing demand of composite bearings from automotive industry. On the flip side, high raw material cost for manufacturing of composite bearings and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Increasing use of self-lubricating composite bearing is forecasted to offer various opportunities for the growth of the market over the forecast period.
- Composite bearings from automotive sector is expected to dominate the market studied over the forecast period.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Composite Bearings Market Trends
This section covers the major market trends shaping the Composite Bearings Market according to our research experts:
Growing Demand of Composite Bearings from Automotive Industry
- A composite bearing is a bearing made from a composite material, such as fibre reinforced resin, or plastic which will often contain friction reducing ingredients such as PTFE.
- Composite bearings have its use in upcoming energy technology such as in solar power tower to rotate the mirrors. They can withstand the loads in CSP applications, are weather and corrosion resistant and also offer low and constant friction
- Composite bearings can be customized to meet the individual requirements of many applications, such as wear- or high-temperature resistance.
- Composite bearings are useful components in automotive design and are used in a range of applications throughout the car, from the powertrain to the car interior.
- Hence, owing to the above-mentioned factors, the application of composite bearings from automotive sector is likely to dominate during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for composite bearings during the forecast period. The rising demand of composite bearings from automotive and growing application in construction sector in countries like China, Japan and India is expected to drive the demand for composite bearings in this region.
- The largest producers of composite bearings are located in Asia-Pacific region. Some of the leading companies engaged in the production of composite bearings are GGB, Inc, SGL Carbon Gmbh, AST Bearings, CSB Sliding Bearings (India) Pvt. Ltd., and RBC Bearings Incorporated among others.
- India's Ruling Govt. Initiatives such as Housing for all the government's flagship scheme PMAY launched in June 2015 aims to build 20 million urban homes and 30 million rural houses by 2022. This is expected to fuel the growth of the Urban Infrastructure and construction development.
- While the more developed economies in the Asia-Pacific region have taken steps towards lightweight vehicles so as to achieve fuel efficiency standards to reduce the vehicular carbon footprint is likely to boost the demand for lightweight composite bearings.
- Owing to the above-mentioned factors, the market for composite bearings in the Asia-Pacific region is projected to grow significantly during the study period.
Composite Bearings Industry Overview
The global composite bearings market is partially fragmented in nature with only few major players dominating the market. Some of the major companies are GGB, SGL Carbon Gmbh, AST Bearings, CSB Sliding Bearings (India) Pvt. Ltd., and RBC Bearings Incorporated among others.
Composite Bearings Market Leaders
RBC Bearings Incorporated
SGL Carbon Gmbh
AST Bearings
CSB Sliding Bearings (India) Pvt. Ltd.
GGB
*Disclaimer: Major Players sorted in no particular order
Composite Bearings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Demand of Composite Bearings from Automotive Industry
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4.1.2 Others
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4.2 Restraints
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4.2.1 High Raw Material Cost
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4.2.2 Others
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Fiber Matrix
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5.1.2 Metal Matrix
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5.2 Application
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5.2.1 Automotive
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5.2.2 Construction
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5.2.3 Aerospace
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5.2.4 Rail and Mass Transit
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5.2.5 Agriculture
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5.2.6 Others
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 France
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5.3.3.4 Italy
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 AST Bearings
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6.4.2 CIP Composites
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6.4.3 CSB Sliding Bearings (India) Pvt. Ltd.
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6.4.4 Franklin Fibre Lamitex Corporation
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6.4.5 GGB
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6.4.6 H4 Marine Limited
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6.4.7 Hycomp LLC
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6.4.8 RBC Bearings Incorporated
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6.4.9 Rexnord Corporation
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6.4.10 Saint-Gobain S.A
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6.4.11 SGL Carbon Gmbh
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6.4.12 Tenneco Inc
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6.4.13 Trelleborg AB
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increase in Use of Self-Lubricating Composite Bearing
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7.2 Other Opportunities
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Composite Bearings Industry Segmentation
The composite bearings market report includes:
| Type | |
| Fiber Matrix | |
| Metal Matrix |
| Application | |
| Automotive | |
| Construction | |
| Aerospace | |
| Rail and Mass Transit | |
| Agriculture | |
| Others |
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Composite Bearings Market Research FAQs
What is the current Composite Bearings Market size?
The Composite Bearings Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Composite Bearings Market?
RBC Bearings Incorporated, SGL Carbon Gmbh, AST Bearings, CSB Sliding Bearings (India) Pvt. Ltd. and GGB are the major companies operating in the Composite Bearings Market.
Which is the fastest growing region in Composite Bearings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Composite Bearings Market?
In 2024, the Asia Pacific accounts for the largest market share in Composite Bearings Market.
What years does this Composite Bearings Market cover?
The report covers the Composite Bearings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Composite Bearings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Composite Bearings Industry Report
Statistics for the 2024 Composite Bearings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Composite Bearings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
