Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
A composite bearing is used to control friction and maintain separation between two moving parts. Composite bearings are made from a combination of materials such as a fiber reinforced resin and plastic and this may also include friction reducing ingredients and lubricants. These bearings are light in weight and no heavy metals are required for the manufacturing of composite bearings. They are widely used in a variety of industries such as automotive, marine, aerospace, agriculture and many others.
The global composite bearing market has been seeing lucrative growth for the past few years. Primary growth factors behind the market growth are increasing adoption in various industries owing to its superior mechanical properties, growing use of self-lubricating composite bearing in challenging applications, and high demand from agriculture and automotive applications in developing economies. In addition, composite bearings provides major benefits such as high strength, high rigidity, enhanced safety performance, low friction and wear and many others, which are making them more demandable in industries such as marine and mining.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the composite bearings market. In addition, complete analysis of changes on Composite Bearings market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the composite bearings market was moderate owing to the decline in demand from automotive, aerospace, marine, and construction and mining industries.
The study analyses global composite bearings market based on product type, material, end use industry and geography.
Two major product types such as metal matrix and fiber matrix are covered in the global composite bearing market. In 2020, metal matrix segment accounted for the major market share and is expected to witness rapid growth in the coming years. Increasing use of metal matrix composite bearing in various end use industries owing to its properties such as economical cost, higher strength in harsh environments, and operational sturdiness is attributed to the growth of the segment. In addition, rising demand for metal matrix composite from automotive industry in automotive disc brakes is further fuelling the segment growth.
Based on material, the market is segmented into PTFE composite (poly tetra fluoro ethylene) and POM composite (poly oxy methylene). The PTEF composite segment is expected to witness rapid growth. PTFE composite bearings have good thermal conductivity and dimensional stability. And they are widely used as a machinery lubricant to reduce friction, wear and energy consumption.
End use industries such as construction & mining, automotive, agriculture, aerospace, marine, and others are covered in the global composite bearings market. An automotive segment is likely to dominate the market in the coming years. An increasing adoption of composite bearings in automotive applications such as steering yoke, belt tensioner, door hinges, seat mechanism and many others is likely to contribute to the segment growth. However, agriculture is expected to be the fastest growing segment in the composite bearings market.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North held the largest market share of global composite bearings market and is likely to dominate the market over the estimated time frame. Growing demand for composite bearing from the automotive and construction & mining industries is major factor that attributed to the market growth. In addition, growing technological advancements and rising usage of these bearings in the aerospace sector are also propelling the growth of the market in the NA region.
The major key players of market includes Schaeffler Group, Saint Gobain, Trelleborg Group, RBC Bearings Incorporated, Rexnord Corporation, Polygon Company, HyComp LLC, Tiodize Co., Inc, TriStar Plastic Corp, Spaulding Composites, AB SKF, CIP Composites, Federal-Mogul Corporation, Tufcot Engineering Ltd., Franklin Fibre Lamitex Corp, Soucy Composites Inc, AST Bearings LLC and VNC Bearing, Inc.
Recent Developments
August 2019: RBC Bearings Incorporated, a global manufacturer of highly-engineered precision components and bearings for the aerospace, defense and industrial industries announced the acquisition of Swiss Tool Systems AG, from Cross Equity Partners LLP and other private owners for nearly CHF 33.0 million (USD 33.9 million).
April 2019: Polygon Company announced its new line of PolyLube standard and high-performance custom-engineered composite plain bearings, suitable for challenging applications in construction and mining equipment such as excavators, wheel loaders, compact track loaders and back hoes.
March 2019: TriStar Plastics Corp announced its distribution agreement with Saint-Gobain Performance Plastics Corporation. Under this agreement TriStar becomes the special distributor for the Saint-Gobain Rulon bearing line in the entire U.S and Canada, with the exception of Nebraska and Iowa, North and South Dakota, Wisconsin and Minnesota.
October 2017: Federal-Mogul Powertrain has validated its DEVA maintenance-free sliding bearings for special-purpose vehicle chassis applications. These composite bearings can be used in agricultural vehicles, construction machines, and other special-purpose vehicles.
The study analyses global composite bearings market based on product type, material, end use industry and geography. Two major product types such as metal matrix and fiber matrix are covered in the global composite bearing market. The metal matrix segment is likely to dominate the market over the forecast period. Increased adoption of metal matrix composites owing to its several benefits is attributed to the market growth. Based on material, the market is segmented into PTFE composite (poly tetra fluoro ethylene) and POM composite (poly oxy methylene). End use industries such as construction & mining, automotive, agriculture, aerospace, marine, and others are covered in the global composite bearings market. The automotive segment is likely to register fastest growth in years to come. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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