Middle East and Africa Composite Bearings Market, By Product Type (Fiber Matrix and Metal Matrix), Material (Poly Tetra Fluoro Ethylene (PTFE) Composite and Poly Oxy Methylene (POM) Composite), Form (Cylindrical Bushes, Flanged Bushes, Sliding Plates, Thrust Washers and Flanged Washers), Distribution Channel (Offline and Online), Application (Construction & Mining, Automotive, Aerospace, Agriculture, Marine, Renewable Energy, Food & Beverage, Gym Equipment, Oil & Gas, Hydraulic Industry and Others), Country (South Africa, Egypt, Saudi Arabia, U.A.E., Israel and Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Middle East and Africa Composite Bearings Market
The composite bearings market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 5.4% in the forecast period of 2021 to 2028 and expected to reach USD 490,678.33 thousand by 2028.
Growing use of bearings across wide variety of industrial applications acts as a driver for the composite bearings market in the forecast period.
A composite bearing is a bearing which are manufactured from a composite material which include fibre reinforced resin, plastic or metal. Composite bearings are manufactured from thermosetting resins reinforced with synthetic fibers also. The composite bearing contains friction reducing ingredients which is PTFE.
Rising preference for lightweight components in various industrial domain acts as driver for the composite bearings market. High raw material and production cost is expected to restrain the composite bearings market in the forecast period. Rapid industrialization in the emerging economies brings new opportunities for the composite bearings market. Attaining desired level of precision in designing and fabrication is challenging the composite bearings market.
The composite bearings market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the composite bearings market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Composite Bearings Market Scope and Market Size
The composite bearings market is segmented on the basis of the product type, material, form, distribution channel and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the composite bearings market is segmented into fiber matrix and metal matrix. In 2021, the demand for metal matrix segment is increasing due to increasing demand for better wear resistance products.
- On the basis of material, the composite bearings market is segmented into poly tetra fluoro ethylene (PTFE) composite and poly oxy methylene (POM) composite. In 2021, poly tetra fluoro ethylene (PTFE) composite segment is dominating as material can easily mixed with other metal products which make poly tetra fluoro ethylene (PTFE) composite material to dominate in the region.
- On the basis of form, the composite bearings market is segmented into cylindrical bushes, flanged bushes, sliding plates, thrust washers and flanged washers. In 2021, cylindrical bushes segment is dominating as cylindrical bushes are extremely versatile and can be used in any application which increases its demand in the market.
- On the basis of distribution channel, the composite bearings market is segmented into offline and online. In 2021, offline segment is dominating due to the increasing import and export of the engine accessories which makes the offline segment to dominate in the region.
- On the basis of application, the composite bearings market is segmented into construction & mining, automotive, aerospace, agriculture, marine, renewable energy, food & beverage, gym equipment, oil & gas, hydraulic industry and others. In 2021, automotive segment is dominating due to increasing number of car competition and auto expo of the engine accessories.
Composite Bearings Market Country Level Analysis
Middle East and Africa composite bearings market is analysed and market size information is provided by the country, product type, material, form, distribution channel and application as referenced above.
The countries covered in Middle East and Africa composite bearings market report are South Africa, Egypt, Saudi Arabia, U.A.E., Israel and Rest of Middle East and Africa.
South Africa is dominating the market due to the rising preference for lightweight components across various industries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growth in the Composite Bearings Industry
The composite bearings market also provides you with detailed market analysis for every country growth in installed base of different kind of products for composite bearings market, impact of technology using life line curves and changes in infant formula regulatory scenarios and their impact on the composite bearings market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Composite Bearings Market Share Analysis
Middle East and Africa composite bearings Market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Middle East and Africa composite bearings Market.
The major players covered in the report are Polygon Company, Schaeffler AG, Huntsman International LLC, GGB (a subsidiary of Enpro Industries), SGL Carbon, Rexnord Corporation, Tenneco Inc., Trelleborg AB, SKF, FTL Technology/IDEX (a subsidiary of IDEX), Technoslide, and other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In January 2020, SGL Carbon decided to inaugurate a new production hall for graphite-based automotive components at the Bonn site. This development helps the company to increase production and revenue.
Collaboration, joint ventures and other strategies by the market players is enhancing the company footprints in the composite bearings market which also provides the benefit for organisation in its growth pace.
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