Bridge Bearings Market Key Players & Growth Strategies Adopted by Them
According to Future Market Insights, the market for bridge bearings surged at a CAGR of 4.1% from 2013 to 2021. Bridge Bearings Market is projected to reach US$ 935 Million by 2028, registering a CAGR of 4.8% during the forthcoming forecast period
The presence of numerous global as well as regional players
has led to widespread fragmentation in the global Bridge Bearings Market. With
increasing adoption of bridge bearings in the global construction sector,
players in the market are focussing on strengthening their base in the early
stages of product development.
A new report by leading research firm Future Market Insights
studies the growth trajectory of the global bridge bearings market for a 10
year period from 2018 to 2028 and throws light on the current market structure
and key strategies adopted by the leading market players.
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https://www.futuremarketinsights.com/reports/bridge-bearings-market
According to the research analysis, revenue from the sales
of bridge bearings is projected to reach a valuation of US$ 935.0 Mn by the end
of 2028, up from an estimated US$ 586.2 Mn by 2022 end, registering a CAGR of
4.8% during the forecasted 10 year period 2022 – 2028.
Future Market Insights’ Recommendations for Market
Players
The report reveals that China is currently the most prominent regional market
for bridge bearings. Growth in the production of steel in China has led to
increasing demand for bridge bearings and this demand is anticipated to remain
on an upward swing in the coming decade.
Increasing investments in transportation infrastructure in
the countries of Latin America and Middle East & Africa is further expected
to lead to a surge in sales of bridge bearings in these two regional markets.
With manufacturers of bridge bearings looking to expand strategically across
key regional markets, Future Market Insights recommends key players to pump in
investments in the developing markets of China, MEA, and Latin America.
Mergers and acquisitions are a key strategy adopted by
market players, and according to Future Market Insights’ analysis, M&A
activities in developing markets will help manufacturers of bridge bearings
expand their product offerings.
Boost in Governmental Investments Towards Global
Infrastructure Projects and Growth in Construction Activities to Create
Lucrative Opportunities for Manufacturers of Bridge Bearings
Rapid urbanisation at the global level has led to a burgeoning expansion of the
construction sector across the world. Governments of both developing and
developed economies are greenlighting multiple construction and infrastructural
projects to strengthen commercial and transportation infrastructure
development. This is anticipated to boost global demand for bridge bearings in
the construction sector.
Further, a growing demand among the population in China,
Europe, U.S, and the Middle East for amusement parks, luxury sports venues, and
other leisure activity establishments is fuelling revenue growth of the bridge
bearings market. Manufacturers of bridge bearings will witness sustained growth
in future if they leverage the numerous opportunities created in the global
market and enhance their product portfolio.
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https://www.futuremarketinsights.com/reports/sample/rep-gb-4955
Emergence of Global Bridge Preservation Partnerships and
Increasing Use of Neoprene Elastomeric Bridge Bearings Trending the Bridge
Bearings Market
One of the trends observed in the bridge bearings market is the emergence of
several partnerships at the global level to maintain the integrity of existing
as well as new bridges. The main objective of these collaborations is to
reduce/delay/prevent deterioration of bridges, restore the core
functionalities, and maintain the bridge structure in good condition to ensure
enhanced performance spanning several years.
The American Association of State Highway and Transportation
Officials (AASHTO) is involved in the R&D of advanced tools and
methodologies to extend bridge life through preservation treatments and
construction best practices. This association further promotes the use of
seismic force resistant products such as bridge bearings in the U.S. The Europe
based National Cooperative Highway Research Program – in partnership with the
AASHTO – focuses on bridge evaluation and the necessary quality control checks.
Another trend shaping the global bridge bearings market is
the use of elastomeric bridge bearings owing to their better elasticity.
Elastomeric bridge bearings can be easily installed and require minimal
maintenance as compared to other types of bridge bearings. Neoprene elastomeric
bridge bearings are currently in high demand as neoprene rubber comes with a
high resistance to temperature and facilitates smooth load transfer from the
beam to the bridge structure. Neoprene elastomeric bridge bearings are also
resistant to lateral and longitudinal beam movement caused due to thermal
variations.
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