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Published Date: 2017-11-01Number of Pages: 170

Industrial Rubber Products Market (Product - Mechanical Goods, Hose, Belts, and Roofing; End-use Industry - Industrial Machinery and Equipment, Off-road Equipment, Automotive and Transportation, Aerospace, and Building and Construction; Sales Channel - OEM and MRO) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022

Global Industrial Rubber Products Market: Snapshot

The global industrial rubber products market is foretold to ride its growth on the automotive sector aggressively rising in emerging economies and swelling demand for tires, a principal product of the industry. The market growth could be significantly contributed with the rise of the demand for high-performance tire adhesives and sealing products. In the current era, Asia Pacific could be honored as a larger consumer and producer of industrial rubber, where the tire industry has been displaying a favorable growth rate. On account of low operational and labor costs, manufacturers have already shifted their production sites to developing countries.

The global industrial rubber products market is foreseen to expand at a CAGR of 4.2% during the forecast period 2017-2022. After progressing from a valuation of US$84.1 bn obtained in 2017, the market could touch a US$103.1 bn by the end of 2022.

industrial rubber products market

Mechanical Goods to Ignite Staggering Growth in Market while Securing Major Share

The world industrial rubber products market is anticipated to be classified into mechanical goods, hose, belts, roofing, and others. Among these segments, the market could award mechanical goods as a product gaining a larger share in the near future. By 2022 end, mechanical goods are predicted to secure a 49.8% share in the market. In 2017, this segment garnered a revenue of US$40.7 bn. On an annual basis, it could expand at an absolute growth of US$2.1 bn. This growth is expected to be greater than that achieved by any other product during the forecast period.

By end-use industry, the world industrial rubber products market is envisaged to be segregated into industrial machinery and equipment, off-road equipment, automotive and transportation, aerospace, building and construction, and other industries. In terms of sales channel, the market could be divided into original equipment manufacturer (OEM) and maintenance, repair, and operations (MRO).

APEJ to Win Lion’s Share in Future Expected to Provide Strong Fillip to Market Growth

On the regional front, the international industrial rubber products market is envisioned to include North America and Europe as decently growing segments contributing with their fair revenue support. North America could rise at a 3.9% CAGR whereas Europe is projected to create an absolute opportunity of US$3.6 bn between 2017 and 2022. However, Asia Pacific Excluding Japan (APEJ) could outrun other regions of the market by collecting a stunning share in the coming years while expanding at a 5.3% CAGR.

On the slower side of market growth could be the Middle East and Africa (MEA) forecast to reach a valuation of US$5.6 bn by the completion of 2022. Japan could be another segment with a sluggish growth that accounted for an only 6.3% of the revenue attained by the international industrial rubber products market in 2017. The report studies Latin America as another region of the market.

Some of the crucial players operating in the worldwide industrial rubber products market could be Parker Hannifin Corporation, Gates Corporation, Eaton Corporation, Continental AG, Dana Incorporated, Delphi Automotive LLP, Yokohama Rubber Corporation, Freudenberg & Co. KG, Bridgestone Corporation, and Avon Rubber.

Global Industrial Rubber Products Market: Overview

The global industrial rubber products market is envisaged to gain a dependable momentum in its growth with the swelling application of top-selling products such as mechanical rubber goods in the automobile sector. Automobile vehicles have been experiencing a heavy deployment of mechanical rubber goods, making them a possible massive contributor to market growth. Furthermore, the increasing application of rubber roofing in both residential and commercial sectors is envisioned to fuel the demand in the market. Rubber roofing could witness a steep rise in its growth with the revival of the construction sector.

The report offered here presents valuable projections and estimations about the global industrial rubber products market, which could affect growth in the near future. Buyers of the report could be able to easily compare different segments of the market and poise their position well for the coming years.

Global Industrial Rubber Products Market: Dynamics

The world industrial rubber products market is forecast to gain a strong impetus due to growing applications in the automotive as well as footwear industry, mostly in developed regions such as North America. However, Asia Pacific could be among the more dominant regions of the market where China and India are anticipated to provide a fillip to the sales of industrial rubber products, mainly in the automotive sector. The expanding industrial base in these countries could also add to the growth of the regional market. Rubber products being involved right from the start of the industrial era are predicted to earn a rising significance for their market.

Global Industrial Rubber Products Market: Segmentation

The international industrial rubber products market is projected to be classified as per product, end-use industry, and sales channel. In terms of product, the market could see a classification into mechanical goods, hose, belts, roofing, and others. According to the report, mechanical goods could top the market with their higher share of US$51.4 bn expected to be achieved by the end of 2022. The annual absolute growth attained by this product could be larger than that of other segments in the category. During the forecast timeframe, it could expand at an annual rate of US$2.1 bn.

On the basis of end-use industry, there could be segments such as industrial machinery and equipment, off-road equipment, automotive and transportation, aerospace, building and construction, and other industries. By sales channel, the international industrial rubber products market could be segregated into original equipment manufacturer (OEM) and maintenance, repair, and operations (MRO).

By region, the international rubber products market is anticipated to witness the dominance of Asia Pacific Excluding Japan (APEJ). Japan and the Middle East and Africa (MEA) could showcase a lethargic growth in the coming years. Contrastingly, North America and Europe are foreseen to exhibit an improved growth. Latin America could be another classification of the market.

Global Industrial Rubber Products Market: Competition

The worldwide industrial rubber products market is foretold to roof the presence of companies such as Parker Hannifin Corporation, Gates Corporation, Eaton Corporation, Continental AG, Dana Incorporated, Delphi Automotive LLP, Yokohama Rubber Corporation, Freudenberg & Co. KG, Bridgestone Corporation, and Avon Rubber.


 
 
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