DUBLIN--(BUSINESS WIRE)--The "Sliding Bearing Market by Railway (Locomotive, Wagon, Coach, DMU, EMU, Light Rail, Metro & High-Speed), Type (Thrust, Radial, Angular Contact & Linear), Application, Material & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Sliding Bearing Market is Projected to Reach USD 1,531 Million by 2027 from USD 934 Million in 2019, at a CAGR of 6.4% During the Forecast Period.
Increasing demand for reliable and cost-effective sliding bearings and the rising capital expenditure for railway infrastructure are expected to fuel the demand for the sliding bearing market
The market growth can be attributed to factors such as the increasing demand for highly efficient, reliable, and cost-effective sliding bearings and the rising capital expenditure for ongoing and upcoming railway infrastructure projects. The volatility of raw material prices and limited applications in railways are the few concerns of this market.
Radial sliding bearing is projected to be the largest and the fastest growing segment of the sliding bearing market for railway during the forecast period
Radial sliding bearing segment is estimated to be the largest and the fastest growing segment of the sliding bearing market for railway during the period of 2017-2027. Radial sliding bearings offer advantages such as the capability of handling high radial & axial loads, lubrication-free, resistance to abrasion & contamination, and longer life span. These benefits make it suitable for all the critical as well as non-critical railway applications of the engines, bogie, and external applications. Train manufacturers are extending the R&D efforts to improvise the design of the metros, light rail, and high-speed trains to gain high-speed stability, minimize shock impact, and reduce friction & noise. All these factors are expected to drive the radial sliding bearing market in the future.
Non-metallic bearing is projected to be the fastest growing segment of the sliding bearing market, by material, during the forecast period
Non-metallic is projected to grow at the highest rate in sliding bearing market, by material, from 2019 to 2027. Non-metallic bearings are generally plastics or composites made by combining various types of resins with reinforcement fibres as the base material. Improvements in material characteristics have made non-metallic sliding bearings increasingly popular in recent years mainly for the interior and some exterior applications such as doors, folding & reclining seats, couplings, brake callipers, and pantographs. The non-metallic sliding bearings offer advantages such as maintenance free, lightweight, compact, and can carry a substantial load. Owing to these advantages, the non-metallic sliding bearing segment will grow at the fastest rate mainly in Asia Oceania and Europe which have a high demand for electric multiple units, metros and high-speed trains
Asia Pacific: The largest and fastest growing sliding bearing market
Asia Pacific is estimated to be the largest sliding bearing market during the forecast period owing to the maximum share of railways compared with other regions for all considered railway types. As sliding bearings are installed in the selected railway applications, the demand for the sliding bearing is directly proportional to the demand for railways. The factors that drive the market are strong economic growth, growing urbanization, rising population, and increased passenger traffic. China, India, and Japan are the leading markets owing to the increasing investments for the expansion of railway infrastructure, for traditional as well as modern railways. For instance, China plans to invest USD 11.45 billion for the development of urban railway projects in Changchun.
According to the International Union of Railways (UIC), China dominates the construction of railway tracks with 61% of high-speed, 37% of heavy rail, 21% of light rail, and 66% of metro projects. In India, metro rails are presently available in 10 cities and nearly 25 new projects are in the pipeline. The Indian government has allocated a fund of USD 2.21 billion for the 2018-2019 metro budget. All these investments would result in increased demand for metros and high-speed train, which will influence the demand for sliding bearings in the region.
The report provides detailed profiles of the following companies:
- Schaeffler (Germany)
- SKF Group (Sweden)
- NTN Corporation (Japan)
- MinebeaMitsumi (Japan)
- Timken (US)
- GGB Bearing- EnPro Industries (US)
- THK (Japan)
- Longxi Bearing USA- Fujian Longxi Bearing Group (China)
- RBC Bearings (US)
For more information about this report visit https://www.researchandmarkets.com/r/3rrrde