Global Composite Bearing Market to Grow at a CAGR of 7.88% by 2023 - Growing Demand for Agriculture & Automotive Applications in Developing Economies - Research and Markets

Research and Markets has announced the addition of the "Global Composite Bearing Market Insights, Opportunity Analysis, Market Shares and Forecast 2017 - 2023" report to their offering.

The global composite bearing market is anticipated to grow at a CAGR of 7.88% during 2016 to 2023. The market has generated the revenue of $3460 million in 2016 and is anticipated to reach up to $5890 million by 2023.

A composite bearing is employed in governing friction and maintaining separation between two moving parts. Composite bearing is made by a resin reinforced with fibre, plastic and comprise friction reducing ingredients and lubricants. A composite bearing is a Polytetrafluoroethylene bearing in a carrier. The composite bearing is having lightweight design. No heavy metals are employed in its production. It is almost one-tenth of the weight of the conventional rolling element bearing.

The major boosting factor of the composite bearing market are growing demand from agriculture and automotive applications in developing economies, since composite bearings are valuable mechanisms in automotive design and are employed in a variety of applications throughout the car, from the car interior to the powertrain. The increasing demand of sensor units in bearings is one of the major opportunity for the market.

During the forecast period from 2016 to 2023, the fastest growing region is North America for the global composite bearing market, since the demand for automotive and construction & mining industries are growing.

Companies Mentioned

• ACM Composites
• AST Bearings Llc
• CIP Composites
• CSB Sliding Bearings (India) Pvt. Ltd
• Federal-Mogul Corporation.
• Franklin Fiber Lamitex.
• GGB Bearing Technolog
• H4 Marine Limited
• Hycomp Llc.
• RBC Bearings Incorporated
• Rexnord Corporation
• Saint-Gobain S.A.
• Schaeffler Group
• VNC Bearing
  

Key Topics Covered:

1. Introduction

2. Market Overview

3. Market Determinants

4. Market Segmentation

5. Competitive Landscape

6. Global Automotive Exhaust Sensor Market By Region

7. Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/7lb6xd/global_composite

View source version on businesswire.com: http://www.businesswire.com/news/home/20170419005728/en/