Elastomer Bearings Market

Elastomer Bearings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

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.

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.

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: