Global Elastomer Bearings Market: Introduction
- Elastomer bearings are devices placed between two elements in a bridge structure. Elastomeric bearings support vertical loads with minimal compression, ensuring the transmission of loads from one element to the other.
- Effective and economical, elastomer bearings are commonly used in modern bridge bearing. They are mostly used in the construction of large span bridges and in the buildings industry. Elastomer bearings are manufactured and designed based on specifications and standards laid down by organizations such as European Norms En 1337, American Association of State Highway and Transportation Officials (AASHTO), and British Standards.
- An elastomer bearing contains various components such as elastomer, steel plates, and rubber. The internal structure of elastomer bearings comprises a sandwich of mild steel shims and rubber, molded as one unit.
- The global elastomer bearings market is projected to expand at a rapid pace during the forecast period owing to increased demand for elastomer bearings in the construction industry to make bridge structures that act as a supporting surface between a deck and bridge pier or beam.
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Global Elastomer Bearings Market: Dynamics
Key Drivers and Restraints of the Global Elastomer Bearings Market
- Rise in demand for elastomer bearings from the construction industry to make bridge structures is a major factor expected to fuel the demand for elastomer bearings in the next few years.
- Growing demand to upgrade transportation facilities and improve existing road infrastructure to deliver better accessibility is projected to propel the market in the next few years.
- Rising investments in the transportation sector and increase in the number of large public infrastructure projects are also anticipated to drive the market for elastomer bearings in the next few years.
- Furthermore, increasing demand for construction activities in the transportation sector is anticipated to fuel the demand for elastomer bearings during the forecast period.
- Regulations laid down by governments to assure safety of operations in the transportation sector is anticipated to further boost the global elastomer bearings market in the near future.
- Rise in innovations and advancements in elastomer bearings is expected to propel the market growth in the upcoming years.
- Elastomer bearings are important components in construction of transport infrastructures, especially highways. Furthermore, growing travel and tourism activities in tourism-driven countries is leading to the launch of numerous hospitality-related infrastructure projects in these countries, which is expected to indirectly influence the demand for elastomer bearings.
- The cost of elastomer bearings is less than other inspection tools. This is anticipated to boost the market during the forecast period.
- However, availability of inferior quality, low-cost elastomer bearings is expected to hinder the market in the next few years.
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North America to Hold a Major Share of the Global Elastomer Bearings Market
- North America dominated the global elastomer bearings market in 2018. The U.S. is a key market for elastomer bearings in North America due to high demand for elastomer bearings from the construction industry in the country.
- In the Asia Pacific region, the construction sector has reached a stage of maturity in Japan, while China is the second largest consumer of elastomer bearings in the region. The elastomer bearings market in Asia Pacific is projected to expand at a rapid pace from 2019 to 2027. In China and India, increased investment in the construction sector is anticipated to drive the market in the next few years.
Global Elastomer Bearings Market – Competitive Landscape
Key Players Operating in the Global Elastomer Bearings Market
Several local, regional, and international players manufacture elastomer bearings. Thus, the global elastomer bearings market is moderately fragmented and the degree of competition is high among these players. Rapid technological advancements have led to a threat of substitution. Key players operating in the global elastomer bearings market are:
- BRP Manufacturing
- Canam Group Inc.
- Cosmec Inc.
- D.S. Brown
- DOSHIN RUBBER PRODUCTS (M) SDN. BHD.
- Ekspan Limited
- Freyssinet Limited
- Granor Rubber & Engineering Pty. Limited
- MAURER SE
- Redwood Plastics and Rubber
- Technoslide (Pty) Ltd
- Trelleborg AB
- Voss Engineering, Inc.
Global Elastomer Bearings Market: Research Scope
Global Elastomer Bearings Market, by Type
- Plain Bearings
- Laminated Bearings
- Bearings with Anchor Plates
- Bearings with Sliding Surface
Global Elastomer Bearings Market, by Material Type
Global Elastomer Bearings Market, by Application
- Storage Tanks
- Sealing Elements
- Crane Rail Pads
Global Elastomer Bearings Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.