Global Elastomeric Bearing Market Overview
The Elastomeric Bearing Market Size was estimated at 2.71 (USD Billion) in 2022. The Elastomeric Bearing Industry is expected to grow from 2.83 (USD Billion) in 2023 to 4.19 (USD Billion) by 2032. The Elastomeric Bearing Market CAGR (growth rate) is expected to be around 4.45% during the forecast period (2024 - 2032).
Key Elastomeric Bearing Market Trends Highlighted
Key market drivers for elastomeric bearings include rising infrastructure investments, increasing demand for earthquake-resistant structures, and growing emphasis on sustainability in construction. Opportunities for exploration lie in the expanding transportation and energy sectors, as well as the development of innovative materials and technologies. Recent trends in the market include the adoption of advanced manufacturing techniques, the integration of sensors and IoT devices, and the focus on reducing environmental impact through the use of recycled and bio-based materials.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Elastomeric Bearing Market Drivers
Rising Demand for Infrastructure Development
Road, bridges, railways, and other infrastructure projects, both construction and rehabilitation, are the main drivers for the demand of elastomeric bearings. They are used to support and isolate the structures from any vibration and seismic action. Emerging economies are heavily investing in the construction of infrastructures and the developed countries are also constructing and rehabilitating the aging infrastructures. Both are drivers for the construction and growth of the elastomeric bearing market.The Elastomeric Bearing Market Industry is expected to increase from USD 2.83 billion in 2023 to USD 4.19 billion in 2032 at a 4.45% CAGR. The main driving factor for the growth of the elastomeric bearing market is the increased requirement for new infrastructures.
Increasing Adoption in Construction Projects
Elastomeric bearings are gaining popularity in construction projects due to their superior performance and cost-effectiveness compared to traditional bearings. They offer excellent vibration isolation, load-carrying capacity, and resistance to environmental factors. The growing adoption of elastomeric bearings in various construction applications, including bridges, buildings, stadiums, and industrial facilities, is contributing to the market growth.The Elastomeric Bearing Market Industry is expected to witness a surge in demand from the construction sector, owing to the increasing focus on sustainable and resilient infrastructure development.
Technological Advancements and Innovation
Continuous advancements in materials science and engineering are leading to the development of new and improved elastomeric bearings with enhanced properties. The introduction of innovative materials, such as high-performance polymers and composites, is enabling the production of bearings with higher load capacities, improved durability, and reduced maintenance requirements. These technological advancements are expected to drive the growth of the elastomeric bearing market by offering solutions for complex engineering challenges.
Elastomeric Bearing Market Segment Insights:
Elastomeric Bearing Market Material Type Insights
The Elastomeric Bearing Market is divided by Material Type Natural Rubber, Synthetic Rubber, Polyurethane, Steel, and Other elastomers. Natural Rubber holds the biggest share in the market and accounts for more than 40% of the Elastomeric Bearing Market revenue in 2023. The high demand for natural rubber is due to having excellent mechanical properties like high tensile strength, tear resistance, and elasticity. It is extensively used in bridges, buildings, and other structures where durability and reliability are important. Synthetic Rubber is another major segment and captures more than 30% of the market share.The synthetic rubber bearings are made to have the properties better to that of natural rubber. They have high resistivity to ozone, chemicals, sunlight, etc. and they are cheaper compared to natural rubber; hence they are widely used in cost-sensitive areas. Polyurethane is also growing in demand in the Elastomeric Bearing Market. It is stronger in terms of mechanical properties and enhances the ability to wear resistivity and damping properties to a greater extent. They are mainly used in the areas where there is a high load and dynamic movements.Steel bearings are a minimal amount of share but are used in areas with high strength and stiffness. They are assigned only in the case of heavy-duty bridges, building, and pump installations. Other elastomers include EPDM, CR, etc., have a niche market share and are only used in a few applications. The Elastomeric Bearing Market is expected to grow in the forthcoming years due to the increase in the infrastructure development and the demand for durable and reliable bearings.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Elastomeric Bearing Market Design Insights
Based on design, the market is segmented into Plain Elastomeric Bearings, Reinforced Elastomeric Bearings, Laminated Elastomeric Bearings. The Plain Elastomeric Bearings segment was the most sizeable revenue -wise in 2023 and is expected to remain the same due to their affordability and ease of installation. The Reinforced Elastomeric Bearings segment is projected to witness the highest growth rate during the forecast period since they have the best mechanical characteristics. The Laminated Elastomeric Bearings segment experience a substantial market share in 2023 owing to their high load carrying capacity and longer life span.
Elastomeric Bearing Market Application Insights
The application segment of the elastomeric bearing market holds significant importance, influencing the industry's growth trajectory. Among the key applications, bridges account for a substantial portion of the market revenue, primarily driven by the increasing construction and renovation of bridges worldwide. Buildings, including commercial, residential, and institutional structures, represent another major application segment, benefiting from the rising demand for earthquake-resistant and durable structures. Industrial structures, such as warehouses, factories, and power plants, also contribute to the market growth due to the need for vibration isolation and structural support.Transportation infrastructure, encompassing roads, highways, and railways, presents a growing market opportunity for elastomeric bearings as they play a crucial role in reducing noise and vibration in transportation systems. Other applications, including marine structures, machinery, and equipment, further contribute to the diverse usage of elastomeric bearings across various industries.
Elastomeric Bearing Market Load Capacity Insights
The Elastomeric Bearing Market is segmented by load capacity into high load capacity, medium load capacity, and low load capacity. The high load capacity segment is expected to hold the largest market share in 2023, owing to the increasing demand for elastomeric bearings in heavy-duty applications such as bridges, stadiums, and other large-scale infrastructure projects. The medium load capacity segment is expected to witness significant growth over the forecast period, driven by the rising demand for elastomeric bearings in commercial and residential buildings.The low load capacity segment is expected to account for a smaller market share, primarily used in lightweight applications such as furniture, appliances, and machinery.
Elastomeric Bearing Market Regional Insights
The regional landscape of the Elastomeric Bearing Market presents a diverse panorama of growth opportunities and challenges. North America, with its well-established construction sector and stringent infrastructure standards, is anticipated to maintain a significant share of the market. The region is projected to account for nearly 35% of the revenue by 2024, driven by the increasing adoption of elastomeric bearings in major infrastructure projects. Europe, with its focus on sustainable development and energy efficiency, is expected to exhibit steady growth, capturing over 30% of the market share.The APAC region is poised for exponential expansion, driven by rapid urbanization and infrastructure development in emerging economies such as India and China. This region is estimated to contribute over 25% to the revenue by 2024. South America and MEA, while representing smaller market shares, display promising growth potential due to increasing investments in infrastructure and construction.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Elastomeric Bearing Market Key Players And Competitive Insights:
Major players in the Elastomeric Bearing Market industry are continuously working on improving their product portfolio. Furthermore, they are striving to expand their presence across the market. For instance, in 2021, Freyssinet, a leading Elastomeric Bearing Market player from France, acquired Van den Berg Beton- en Waterbouw, a Netherlands-based company active in steel castings manufacturing and infrastructure construction. This acquisition has allowed Freyssinet to strengthen its position in the Elastomeric Bearing Market and expand its offerings in new areas. Leading Elastomeric Bearing Market players are also investing heavily in research and development to create innovative products. For example, in 2022, Bridgestone Corporation, a multinational tire and rubber manufacturer, announced its plans to invest 30 million euros in its R&D center in Belgium. The investment is focused on the development of advanced materials, such as rubber compounds for seismic isolation bearings, to meet the growing demand for high-performance Elastomeric Bearing Market products.One of the major players in Elastomeric Bearing Market is Bridgestone Corporation. It is a Japanese multinational tire and rubber manufacturer, headquartered in Tokyo, Japan. Bridgestone was founded in 1931, and it is considered one of the largest tire manufacturers in the world. The company is a provider of Elastomeric Bearing Market products and solutions, including rubber bearings, seismic isolation bearings, and other rubber products for civil infrastructure. Bridgestone has a strong presence, with manufacturing facilities in 150 countries and sales in over 150 countries. The company is committed to providing high-quality products and services, and it has a strong reputation for innovation and reliability.Another key player in Elastomeric Bearing Market is Trelleborg AB. It is a Swedish multinational polymer technology company, headquartered in Trelleborg, Sweden. Trelleborg was founded in 1905 and is a leading supplier of polymer-based products for various industries, including the Elastomeric Bearing Market industry. The company offers a wide range of Elastomeric Bearing Market products, such as anti-vibration pads, seismic isolation bearings, and bridge bearings. Trelleborg has a presence, with operations in over 50 countries and sales in over 100 countries. The company is recognized for its strong focus on innovation and customer service.
Key Companies in the Elastomeric Bearing Market Include:
Elastomeric Bearing Market Industry Developments
The elastomeric bearing market is projected to reach USD 4.19 billion by 2032, exhibiting a CAGR of 4.45% during the forecast period. Rising demand for elastomeric bearings in infrastructure projects, particularly in emerging economies, is driving market growth. Additionally, increasing adoption of elastomeric bearings in bridges, buildings, and other structures to mitigate seismic and vibration effects is contributing to market expansion. Innovations such as laminated elastomeric bearings and shape memory alloy bearings are gaining traction, offering enhanced performance and durability. The market is expected to witness significant growth in the Asia-Pacific region due to rapid urbanization and infrastructure development. Key players in the market include Bridgestone, Trelleborg, and Vibracoustic. Recent developments include the launch of high-performance elastomeric bearings with improved load-bearing capacity and the development of sustainable and eco-friendly elastomeric materials.
Elastomeric Bearing Market Segmentation Insights
Elastomeric Bearing Market Material Type Outlook
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Natural Rubber
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Synthetic Rubber
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Polyurethane
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Steel
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Other elastomers
Elastomeric Bearing Market Design Outlook
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Plain Elastomeric Bearings
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Reinforced Elastomeric Bearings
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Laminated Elastomeric Bearings
Elastomeric Bearing Market Application Outlook
Elastomeric Bearing Market Load Capacity Outlook
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High Load Capacity
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Medium Load Capacity
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Low Load Capacity
Elastomeric Bearing Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.71(USD Billion) |
| Market Size 2023 |
2.83(USD Billion) |
| Market Size 2032 |
4.19(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.45% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Freudenberg Group, Hutchinson SA, Continental AG, CooperStandard Automotive, NSK, Sumitomo Riko, Michelin, SKF, KOYO, NTN, Trelleborg AB, NachiFujikoshi, BRIDGESTONE, TOYO, MinebeaMitsumi |
| Segments Covered |
Material Type, Design, Application, Load Capacity, Regional |
| Key Market Opportunities |
Infrastructure Development Growing Construction Renewable Energy Expansion Bridge Rehabilitation Urbanization |
| Key Market Dynamics |
Growing infrastructure urbanization lightweight durability cost-effective |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Elastomeric Bearing Market is expected to reach a valuation of 2.83 Billion USD in 2023.
The Elastomeric Bearing Market is expected to reach a valuation of 4.19 Billion USD by 2032.
The Elastomeric Bearing Market is expected to grow at a CAGR of 4.45% from 2024 to 2032.
The bridges segment is expected to hold the largest market share in the Elastomeric Bearing Market in 2023.
Some of the key competitors in the Elastomeric Bearing Market include Bridgestone Corporation, Trelleborg AB, and L.J. Smith & Co.
The key trends driving the growth of the Elastomeric Bearing Market include the increasing demand for infrastructure development and the growing adoption of sustainable construction practices.
The challenges faced by the Elastomeric Bearing Market include the volatile prices of raw materials and the stringent environmental regulations.
The opportunities for growth in the Elastomeric Bearing Market include the increasing demand for high-performance elastomeric bearings and the growing adoption of advanced manufacturing technologies.
The key factors to consider when selecting an elastomeric bearing include the load capacity, the deflection requirements, and the environmental conditions.
