Market Size of Composite Bearings Industry
| 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.
