Composite Bearings Market Size (2024 - 2029)

The composite bearings market is anticipated to experience significant growth, driven primarily by the increasing demand from the automotive industry. Despite challenges such as high raw material costs and the impact of the COVID-19 pandemic, the market is poised for expansion, particularly with the rising adoption of self-lubricating composite bearings. The automotive sector is expected to maintain its dominance in the market. The Asia-Pacific region stands out as the largest and fastest-growing area, fueled by rising consumption in countries like China, India, and Japan.

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Market Size of Composite Bearings Industry

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Composite Bearings Market Size
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

Composite Bearings Market Key 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.

Composite Bearings Industry Segmentation

The composite bearings market report includes:

Type
Fiber Matrix
Metal Matrix
Application
Automotive
Construction
Aerospace
Rail and Mass Transit
Agriculture
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Composite Bearings Market Size Summary

The composite bearings market is poised for significant growth, driven primarily by the increasing demand from the automotive industry. These bearings, made from materials like fiber-reinforced resin or plastic, are gaining traction due to their self-lubricating properties and ability to withstand high loads, making them ideal for various applications. Despite challenges such as high raw material costs and the lingering effects of the COVID-19 pandemic, the market is expected to expand, with opportunities arising from their use in energy technologies like solar power. The automotive sector is anticipated to dominate the market, leveraging composite bearings for their lightweight and efficient design capabilities.

The Asia-Pacific region is projected to lead the composite bearings market, fueled by rising demand from the automotive and construction sectors in countries such as China, India, and Japan. This region not only represents the largest market but is also expected to experience the fastest growth due to the presence of major producers and supportive government initiatives like India's Housing for All scheme. The push towards lightweight vehicles in more developed economies within Asia-Pacific is further expected to enhance the demand for composite bearings. The market remains partially fragmented, with key players like GGB, SGL Carbon Gmbh, and RBC Bearings Incorporated playing a significant role in shaping its landscape.

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Composite Bearings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand of Composite Bearings from Automotive Industry

      2. 1.1.2 Others

    2. 1.2 Restraints

      1. 1.2.1 High Raw Material Cost

      2. 1.2.2 Others

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Fiber Matrix

      2. 2.1.2 Metal Matrix

    2. 2.2 Application

      1. 2.2.1 Automotive

      2. 2.2.2 Construction

      3. 2.2.3 Aerospace

      4. 2.2.4 Rail and Mass Transit

      5. 2.2.5 Agriculture

      6. 2.2.6 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Composite Bearings Market Size FAQs

The Composite Bearings Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

RBC Bearings Incorporated, SGL Carbon Gmbh, AST Bearings, CSB Sliding Bearings (India) Pvt. Ltd. and GGB are the major companies operating in the Composite Bearings Market.

Composite Bearings Report Snapshots

Composite Bearings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)