According to Future Market Insights, the bridge bearings market grew at a CAGR of 4.1% between 2013 and 2021. Accessible and dependable transportation infrastructure is essential to the success of any economy because it increases productivity, saves time, and connects society. As a result, the demand for improving existing road infrastructure
improve accessibility is increasing, creating opportunities for bridge bearings.
Growth is being driven by a thriving global transportation infrastructure industry, with countries such as China, India, and the United States implementing major road and rail network projects in the coming years. Bridge bearings account for 0.7 percent of the bearings market in total.
Significant contractions were experienced in the past two years in bridge bearing sales due to the COVID-19 pandemic. Temporary cessation of mega infrastructure projects across various countries significantly altered the demand-supply dynamics, ushering in a recessionary trend. Since mid-2021, as relaxations are being enforced, projects have resumed, restoring demand prospects.
In recent years, the construction industry has seen significant investment. For example, it is estimated that infrastructure spending in FY2017 was around US$ 3 trillion. As a result, expanding construction investments by PPP and regional governments are mandated to register healthy growth in transportation infrastructure and, as a result, augment the trade of bridge bearings.
Furthermore, the transportation infrastructure industry has seen consistent incremental growth over the years, which can be attributed to favourable economic conditions in a number of developing and developed countries. The bridge bearings market is expected to experience accelerated and lateral growth as a result of ongoing large public infrastructure projects, which are expected to create PPP opportunities over the forecast period.
The bridge bearings market is expected to expand at a faster and more lateral pace because to 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%.
As per the report, India’s roads transport more than 60% of all freight in the country, while handling 90% of total passenger traffic. Consequently, there is an increasing need to construct robust bridges across multiple terrain, including rivers, valleys and gorges, which is leading to more deployment of sturdy bridge bearings.
A series of bridge construction projects are scheduled to be completed or initiated by 2022. These include the Vertical Lift Railway Sea Bridge between Pamban and Rameswaram in Tamil Nadu and the Zuari Bridge in Panjim, Goa. These aforementioned projects have generated ample demand for bridge 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.