Bridge Bearings Market to See Steadfast Growth, as Transport Infrastructure Spending Ramps-Up, Reveals Fact.MR
Published : 10 Jan 2020 Industry: Industrial Goods
Transport infrastructure has experienced sustained incremental progression over the years. This can be ascribed to favorable economic conditions in numerous developed and developing countries. The bridge bearing market is foreseen to experience accelerated and lateral growth owing to the continuing civic infrastructural projects, which, in turn, are likely to create public-private partnership (PPP) opportunities over the course of forecast duration. The newest report by Fact.MR estimates that the aforementioned factors will propel the market to witness a twofold growth and reach a valuation of ~US$ 935 Mn by the end of 2028.
In the coming years, it is estimated that the bridge bearing market in emerging countries will create opportunities for numerous foreign players to penetrate into regional markets. Bridge bearings with high end features such as better seismic isolation, enhanced elasticity, shock resistance and others improves integrity of bridge bearings. Bridge bearings can be considered as a pre-requisite in new rail roads and bridges as they augment the structural strength and offer resistance against seismic forces. Owing to the multiple advantages of bridge bearings, the market is foreseen to auger well over the forecast duration, reveals Fact.MR.
Key Takeaways of Global Bridge Bearings Market
- Elastomeric bearings appear to be the most favorable design type. However, pot bearings will register significant growth over the forecast period
- Collectively, sliding plate bridge bearings and roller bridge bearings are foreseen to account for ~35% of the overall market share in terms of value
- Rubber and combined material type account for nearly two-fifth of the overall absolute dollar opportunity in the global bridge bearings market
- Demand for steel based bridge bearings is foreseen to grow 1.6X over the next decade owing to the economical price to performance quotient
- China will remain the most prominent country across the projection period, accounting for more than 20% share of the global market.
"Introduction of novel bearing designs with enhanced elasticity, improved structural strength and longer lifespan will open future growth scenarios for bridge bearings manufactures”, says a Fact.MR analyst.
Prominent Players Leverage New Contracts for Lucrative Opportunities
The report reveals some of the prominent market players, including Trelleborg AB, Granor Rubber & Engineering Pty. Freyssinet Limited, Epic Polymer Systems Corp., Canam Group Inc., Gumba GmbH & Co. KG, KantaFlex (India) Private Limited, and Ekspan Limited among others. Prominent bridge bearing manufacturers are continuously focusing on contracts in order to cater the growing demand. For Instance,
- In July 2017, Trelleborg’s engineered products operation secured a contract to supply elastomeric bearings for Statoil’s Johan Sverdrup oil field
The construction industry in the U.S., Europe, China and India is anticipated to witness growth in large public infrastructural programs, which is further expected to coax future growth opportunities for bridge bearing manufacturers.
Find More Valuable Insights on Bridge Bearings Market
Fact.MR, in its new offering, provides an unbiased analysis of the global bridge bearings market, presenting historical demand data (2013-2017) and forecast statistics for the period, 2018-2028. The study divulges compelling insights on the bridge bearings market on the basis of design (Elastomeric Bearing, Pot Bearing, Sliding Plate Bearing, Roller Bearing, Spherical, Bearing, Disc Bearing, Others (Rocker bearing, etc.)), Material Type (Steel and Rubber & Combined), across seven major regions.
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