Plastic Bearings Market Checkout the Unexpected Future 2029 | Lily Bearing Manufacturing, Igus, Inc etc.
The Indian domestic automobile production increased at a 2.36% CAGR between 2016 and 2020, with 26.36 million vehicles being manufactured in the country in 2020, according to the data shared by the India Brand Equity Foundation (IBEF). Our accurate market data equips players to plan powerful strategies ahead of time. The Plastic Bearings report offers a deep geographical analysis where key regional and country-level markets are brought to light. The vendor landscape is also analyzed in-depth to reveal current and future market challenges and Plastic Bearings business tactics adopted by leading companies to tackle them.
The plastic bearings are either made of plastic polymer or have a polymer liner, a new technology, that has advantages over steel or ceramic ball bearings and thus, used as an alternative for the metal bearings. Plastic bearings provide benefits, such as lightweight models, corrosion-resistant, wear-resistant, along with resistance to acid, alkali, grease, wax and solvents, non-conductive nature, and self-lubrication. They have lower inertia and run much quieter than their metal counterparts, making them suitable for many markets.
Plastic bearings are ideal for applications with normal to high speeds, heavy loads, and can withstand extreme temperatures. They are broadly used in conveyor systems, pool cleaners, medical applications (in the MRI system as they have anti-magnetic properties), and semiconductor manufacturing industries. Owing to these properties and cost-effectiveness, the global plastic bearings market is expected to significantly during the forecast period. However, the increasing raw material prices can hamper the plastic bearings market growth.
Bearings are machine elements that reduce friction between moving parts and the wear and tear of the machine. For example, bearings are used in skyscrapers to support during earthquakes by offering them some movement. There are two types of bearings—contact type bearings and non-contact type bearings. The plastic bearings come under the contact type bearings, also known as self-lubricated bearings.
The favorable government initiatives and support to increase the usage of electric vehicles also augment the plastic bearings market growth. According to the data shared by the International Energy Agency, the government incentives for electric vehicle purchases rose by 72% in 2018. Due to the rise in government support, worldwide spending on electric vehicle (EV) purchases grew more than 70% in 2018 to 82 USD billion, increasing the demand for plastic bearings. The increasing production and export of automobiles in various countries are also projected to create a surge in plastic bearings demand. The automobile export reached 4.77 million vehicles in 2020, growing at a CAGR of 6.94% from 2016 to 2020, and is projected to grow further during the forecast period owing properties such as lightweight, low maintenance, lubrication-free, corrosion and chemical-resistant, and high wear and fatigue resistant.
Several industrial manufacturers have started opting for plastic bearings owing to their cleanliness, cost-effectiveness, and versatility. The plastic bearings comprise alloy, solid lubricants, and a fiber matrix, provide a low friction coefficient and high strength. These advantages lead to increased adoption of plastic bearings, driving the plastic bearings market growth across the globe. Plastic bearings are self-lubricating and have corrosion-resistant and thus, can be used in hostile environments. They are lightweight, offer design flexibility, and are fuel-efficient as less energy is required for mobility allowing manufacturers to design bearings without any pattern constraints.
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The Major Prominent Players Covered in this Report:
Lily Bearing Manufacturing, Igus, Inc, KMS Bearings, Inc, AB SKF, Nozzle Auto Association Pvt. Ltd (TPI Bearings), Pobco, Inc, AST Bearings, LLC, Dotmar EPP Pty Ltd, BNL Ltd, Ritbearing Corporation (Kashima Bearings, Inc) & More.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
Plastic Rolling Bearings
Plastic Sliding Bearings
By End-Use Industry:
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2021 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Key Plastic Bearings Market Trends:
- The report identifies, determines, and forecasts the Global Plastic Bearings Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Plastic Bearings Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Plastic Bearings Market.
Key Questions Answered in The Report:
What will the Plastic Bearings market growth rate?
What are the key factors driving the global Plastic Bearings market?
Who are the key manufacturers in the Plastic Bearings market space?
What are the market opportunities, market risk, and market overview of the Plastic Bearings market?
What are sales, revenue, and price analysis of top manufacturers of the Plastic Bearings market?
Who are the distributors, traders, and dealers of the Plastic Bearings market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Plastic Bearings Industry?
What are sales, revenue, and price analysis by regions of Plastic Bearings industry?
What are the driving factors contributing to market growth during the short, medium, and long term?
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