Future Market Insights (FMI) digs deep into the global bridge bearings market and fetches key information through structured market research. The report titled “Bridge Bearings Market Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028” gauges the market and predicts the future demographic and changes. The report reveals that the elastomeric bearings segment will dominate the market and is estimated to hold more than a 30.5% market value share. It is expected to grow with a CAGR (value) of 5.6% during the forecast period (2018–2028). The estimated value of the global bridge bearings market is expected to be more than US$ 586.2 Mn by the end of 2018 and the market will expand with a CAGR of 4.8% to reach US$ 935.0 Mn by the end of 2028.
Global Bridge Bearings Market Dynamics
Healthy growth in the construction industry will also be a prime factor supplementing market growth. Increasing transportation infrastructure investments across the globe act as a catalyst in the overall growth of the bridge bearings market. Moreover, seismic isolation bridge bearings decouple the motion at the expense of large displacement, thereby decreasing the inertia developed between structures by the seismic effect. This reduces the damage to highway bridges and thus, drives the growth of the bridge bearings market. Product development is expected to remain the major focus area for leading players in the market.
On the other hand, one of the major challenges faced by the manufacturers of bridge bearings is that the upper layer of steel bearings corrodes, owing to exposure to salt or de-icing salts. This is anticipated to act as a prime factor hampering the growth of the bridge bearings market over the forecast period. Moreover, bridge bearings require high logistics cost due to their heaviness, which is also expected to act as a restraining factor to the growth of the bridge bearings market in the near future. Leading players in the market are focusing on strategic expansions to expand their presence across the globe.
Global Bridge Bearings Market Forecast
Market insights suggests that the overall size of the global bridge bearings market will expand over the forecast period. Several positive changes are expected to fuel the growth of the market. The market is relatively small and each portion has a crucial role to play. By design, the elastomeric bearing segment, followed by the pot bearing segment, is anticipated to play a pivotal role in building market revenue and is expected to occupy a major share of the market. The report hints that the steel segment by material type will account for a value share of 56.2% in the global bridge bearings market by 2018. Amongst the major markets, China will show promising results within the forecast period. The region is estimated to represent a 20.7% market value share in 2018 and the market will expand at a CAGR of 5.2% within the stipulated time period. The sales revenue of North America will surge to US$ 146.2 Mn by the end of 2028, with an increasing CAGR of 3.4%.
Global Bridge Bearings Market: Competitive Landscape
Some of the key market participants reported in this study of the global bridge bearings market include Trelleborg AB, Canam Group Inc., Ekspan Ltd., Epic Polymer Systems Corp., Freyssinet Limited, Granor Rubber & Engineering Pty. Limited, Gumba GmbH & Co. KG, KantaFlex (India) Private Limited, Mageba SA, Metal Engineering & Treatment Co. Pvt. Ltd., RJ Watson, Inc., Structural Rubber Products, Cosmec Inc., Voss Engineering, Inc., Zaoqiang Dacheng Rubber Co., Ltd. and others.
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Summary: The bridge bearings market is expected to register a value CAGR of 4.8% during the forecast period. Increasing investments in transportation infrastructure across the globe are expected to create significant opportunities for bridge bearings manufacturers.