In last three decades, most of the developed and developing countries have witnessed rampant development in terms of infrastructure. Connectivity between major cities, ports and trade hubs provides impetus to economy helping it take giant strides. Bridges and railway routes are of utmost importance in all this, and this is exactly why the Elastomer Bearings Market has been flourishing constantly. Elastomer bearings are basically created out of elastomer, rubber and steel plates that are basically used in the middle of two elements in a structure. The elastomer bearings ensure easy transmission of heavy weight from one element to another, and give support to loads that are vertical with the help of extremely less compression. Owing to this, the demand for elastomer bearings has been going upwards at a faster pace. While these elastomers are very cost efficient, they also happen to be a key component in construction of bridges and this contributes to the growth of elastomer bearings market.
The COVID-19 pandemic impacted the growth of the global elastomer bearings market in an adverse way. Heavy losses incurred by the construction industry played a huge hindrance to this market’s growth. Many new infrastructure projects were shelved or postponed courtesy of absence of labour, and logistics.
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The transportation sector across the globe has been seeing massive investments, while several countries are constantly granting huge funds towards bigger public infrastructure is rapidly driving the growth of the elastomer bearings market. Also, the fact that majority of governments are leaving no stones unturned in terms of safety of construction of bridges.
On the other hand, couple of factors that are likely to hinder the growth of the elastomer bearings market. One of them is rising concerns regarding the quality of rubbers used for manufacturing elastomer bearings. Though many companies are using latest innovations to improve the quality of elastomer bearings, and this will propel the growth of this market over the forecast period.
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Key Takeaways - Global Elastomer Bearings Market:
- Elastomer bearings are easily available and also cost-efficient, and this drives the growth of the Elastomer Bearings Market.
- Courtesy of the e-commerce boom, many companies manufacturing elastomer bearings have online presence and this is why, the online segment will witness growth at the fastest rate.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the global elastomer bearings market. The countries of India, China, Japan and South Korea are seeing a surge in the number of infrastructure development projects, which highly contributes to the growth of this market. Also, the number of elastomer bearings manufacturers are on a rise in India and China, which drives this market forward.
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Some of the major players operating in the global elastomer bearings market are listed below:
- AssaFlex Ltd
- Atlas Italy
- Canam Group Inc.
- Freyssinet Limited
- Granor Rubber & Engineering
- MAURER SE.
- Trellebog Marine and Infrastructure
- VSL International ltd
- Wilhelm Modersohn GmbH & Co. KG
- Other Market Participants
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Global Elastomer Bearings Market
- Pads and strips
- Bearing with sliding surface
- Bearing with anchor plates
By Distribution Channel
- Crane Rail Pads
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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