Market Size in 2023 | Market Forecast in 2032 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 916.3 Million | USD 1,376.80 Million | CAGR at 4.75% | 2023 |
According to the report published by Zion Market Research, the global Bridge Bearings Market size was valued at USD 916.3 Million in 2023 and is predicted to reach USD 1,376.80 Million by the end of 2032. The market is expected to grow with a CAGR of 4.75% during the forecast period. The report analyzes the global Bridge Bearings Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Bridge Bearings Market industry.
The bridges have to withstand the movements, seismic activities, traffic, temperature changes, shrinkage, and others, thus the construction of the bridges and its design should be done with precision. The construction of the bridges requires expansion joints, bridge bearings, and anti-seismic devices in order to build the infrastructure that can resist any kind of adverse effects and will have a long life. The bridge bearings are the equipment that is used for transferring the loads.
The Centenary Way Viaduct Refurbishment NEC3 scheme, supported by Lancashire County Council, suggested the bridge repairs along with bearing replacement, deck waterproofing, and expansion joint replacement. The Freyssinet was given the responsibility of designing, supplying, and installing new expansion joints on both sides of viaduct coupled with designing, manufacturing, and supplying of the bridge bearings.
The global market for the bridge bearings is fragmented into its product type and application.
Based on the type of the product, the global market is segregated into mechanical bearings and elastomeric bearings.
Based on the application, the market is categorized into pot bearings, uplift bearings, disc bearings, and spherical bearings.
In the recent years, there has been a tremendous growth in the population and the trade so in order to meet the increasing demands the transportation facilities need to be upgraded. In the developing regions, the transportation infrastructure is already developed but now owing to the increasing demands they require repair and maintenance. Thus, in many of the regions, the transportation authorities are taking initiatives to develop their facilities by building bridges and other related constructions.
Owing to this increasing demand for the construction activities in the transportation sector, the demand for the bridge bearings are increasing at a rapid rate. Innovations and advancements are being made in the bridge bearings in order to improve its benefits thus propelling the growth of the market. The factor that is negatively affecting the growth of the market is in the regions especially the developed regions where the construction sector is at a matured condition make use of advanced facilities.
Report Attributes | Report Details |
---|---|
Report Name | Bridge Bearings Market Research Report |
Market Size in 2023 | USD 916.3 Million |
Market Forecast in 2032 | USD 1,376.80 Million |
Growth Rate | CAGR of 4.75% |
Number of Pages | 201 |
Key Companies Covered | VICODA GmbH., Freyssinet Limited, Trelleborg, Arsan Kaucuk, Mageba SA, VSL International Ltd., Metal Engineering & Treatment Co., Ekspan Ltd., RJ Watson, Inc., Voss Engineering, Inc., Granor Rubber & Engineering, Cosmec Inc., J. Sons Engg. Corp., Gumba GmbH & Co. KG, and others. |
Segments Covered | By product types, By application and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
In the Asia Pacific region, the bridge bearings market is growing at a significant rate. In China, there is an increased investment made in the construction sector in order to boost up the market. In the developing nations such as China and India, there has been an increase in the number of infrastructures that are being built which is, in turn, propelling the growth of the bridge bearing market.
The economic advancement that was experienced in the recent years in the Latin American region has triggered the growth of the construction industry. In the North American region, there are several upcoming projects which will increase the demand for the bridge bearings. Owing to the maturity of the construction sector in the country of Japan, the bridge bearings market is growing slowly.
The key market players that are involved in the bridge bearings market include:
By product types
By application
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