DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Composite Bearings Market by Product Type (Metal Matrix, Fiber Matrix), Application (Construction & Mining, Automotive, Agriculture, Aerospace, Marine), Region - Global Forecast to 2021" report to their offering.
The composite bearings market is projected to reach USD 5.04 billion by 2021, at a CAGR of 7.88% from 2016 to 2021.
The major drivers stimulating the composite bearings market are, the superior mechanical properties leading to a long product life, along with low maintenance cost, and the increasing use of composite bearings in demanding applications. The major restraining factors of this market include the high raw material and production cost, and stiff competition from single metal bearings.
The agriculture application constituted a major part of the composite bearings market in 2015. The superior properties exhibited by these advanced bearings is driving the composite bearings market in the agriculture application segment, as these advanced bearings offer complete solutions including being light in weight, providing dimensional & operational stability at high temperatures, and resistance against corrosion in comparison to traditional materials such as single metal bearings.
North America is expected to be the fastest-growing market for composite bearings from 2015 to 2021. The main factors that are expected to contribute to this growth are the increasing demand for composite bearings from the construction & mining, and agriculture industries. Being light in weight, providing resistance to corrosion & fatigue, dimensional stability and operational stability at high temperatures are some of the properties driving the demand for composite bearings in the North American region.
- Superior Mechanical Properties
- Increasing Use of Self-Lubricating Composite Bearing in Demanding Applications
- High Raw Material & Production Cost
- Stiff Competition From Single Metal Bearings
- High Demand From Automotive and Agriculture Applications in Emerging Economies
- Need for Low-Cost Technologies
- ACM Composites
- AST Bearings LLC
- CIP Composites
- CSB Sliding Bearings (India) Pvt. Ltd.
- Federal-Mogul Corporation
- Franklin Fiber Lamitex
- GGB Bearing Technology
- H4 Marine Limited
- Hycomp LLC
- Polygon Company
- RBC Bearings Incorporated.
- Rexnord Corporation
- Saint-Gobain S.A.
- Schaeffler Group
- Spaulding Composites, Inc.
- Technoslide (Pty) Ltd
- Tiodize Co., Inc.
- Trelleborg Group
- Tristar Plastic Corp.
- VNC Bearing
For more information about this report visit http://www.researchandmarkets.com/research/6z3zmz/composite
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