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.
Composite bearings are design and manufacture to insure that the equipment operates more effectively and efficiently. Composite bearings provides benefits such as high-load capacity/highshock load capability, low coefficient of friction, dimensionally stable in fluids, flexible material design, thick-wall availability, self-lubricating design, temperature resistance, chemical resistance, and low weight/high strength. And these bearings can be used in applications such as agriculture (e.g., earth moving equipment), automotive, construction, marine, railroad, material handling equipment and many others.
The United States composite bearings market is presently being driven by several driving factors. Increasing use of composite bearings in application such as steering linkages, hydraulic cylinder pivots, king pin bearings, boom lifts, scissor lifts, cranes, hoists, lift gates, backhoes, trenchers, skid steers loaders, and front-end loaders among others is major factor that driving the market growth.
In addition, growing construction industry and high investment in this industry is further likely to expand market growth. For instance, according to the Associated General Contractors of America, the construction sector is a major contributor to the U.S. economy. The sector has over 680,000 employers with more than 7 million employees and generates approximately USD 1.3 trillion worth of structures each year. And the sector is one of the largest customers for mining, manufacturing, and various services.
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 United States 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 United States composite bearings market based on product type, material, end use industry and country.
Two major product types such as metal matrix and fiber matrix are covered in the global composite bearing market. Metal matrix segment is witnessing fastest growth. Metal matrix composites bearings widely used as structural materials in high-tech fields, such as defense, aerospace, civil engineering and automotive. It provides benefits such as high thermal conductivity, high-temperature capability, high specific stiffness, low CTE, and high strength, which are making them more demandable in aforementioned sectors. This is in turn impelling the market 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 likely to dominate the market. However, POM composite segment is witnessing fastest growth. PTEF composite bearings are capable of bearing vertical load and have good dimensional stability and thermal conductivity. Huge demand for this bearing in applications such as road, auditoriums, bridge, skywalks and others is accredited to the segment growth.
End use industries such as construction & mining, automotive, agriculture, aerospace, marine, and others are covered in the United States composite bearings market. Construction and mining industry dominated the market in 2020 and is likely to maintain its dominance during the forecast period. Growing construction industry in the country and rising residential, commercial as well as industrial construction activities are attributed to the segment growth. These bearings are widely used in construction and mining equipment such as wheel back hoes, excavators, loaders, compact track loaders and many others.
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, Franklin Fibre Lamitex Corp, Soucy Composites Inc, AST Bearings LLC and VNC Bearing, Inc.
August 2019: RBC Bearings Incorporated, the US based international 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 United States composite bearings market based on product type, material, end use industry and country. Two major product types such as metal matrix and fiber matrix are covered in the United States 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 United States composite bearings market. The automotive and construction and mining segment are likely to register fastest growth in years to come.
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