The global bridge bearings market was valued at US$ 674.33 Mn in 2021 and are likely to reach US$ 705.8 Mn in 2022. The market is projected to reach US$ 935 Mn by 2028, registering a CAGR of 4.8% during the forthcoming forecast period.
A booming global transportation infrastructure market is supporting growth, and in the coming years, major road and rail network projects will be implemented in China, India, and the United States, among other nations. In total, bridge bearings hold a 0.7% market share in the bearings industry.
FMI provides a comparative analysis and insightful analysis of the market for bridge bearings’ growth outlook, as well as the factors influencing the growth. The market has been primarily influenced by the outlook for the growth of the infrastructure sector, process innovations, and technological advancement.
Recent market developments include the creation of bearings with significant vertical and horizontal load-carrying capacities as well as capacity increases in emerging markets.
The bridge bearings market is expected to expand at a faster and more lateral pace because of ongoing significant public infrastructure projects, which are expected to provide public-private partnership (PPP) possibilities throughout the projected period. Over the projection period, demand for bridge bearing is expected to grow at a CAGR of 4.8%.
Steel bridge bearing demand will reportedly continue to exert significant influence throughout the forecast period, according to FMI. Due to their increased corrosion resistance and superior load and speed ratings, stainless steel will continue to be preferred over all other grades. Steel is the material of choice because stronger bridges are required.
However, in recent years, technological developments in the building sector have compelled businesses to use lighter, more flexible construction materials, opening the door for increased use of rubber and combined bridge bearings. Governments are incorporating materials like elastic polymers to reduce the maintenance costs of steel and other metal-related bearings.
- Canam Group Inc.
- Trelleborg AB
- Ekspan Limited
- 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.