How Worldwide Developments in Infrastructural Constructions are influencing Contours of Bridge Bearings Market Evolution?
Bridge bearings form vital structural equipment or devices that are installed to transfer the load between bridge substructure and superstructures. They are especially made to endure rotation movements and translational movements in the horizontal as well as transverse direction, thus reducing stress. A variety of bridge bearings have been in demand in the construction industry depending on the desired functionality and use. The rising demand for cost-effective yet sturdy structural components in highway and large-span bridges is one of the several factors that have kept the global market lucrative.
Over the past few years, burgeoning construction of bridges in public-private partnership (PPP) mode have imparted a robust momentum to the demand for bridge bearings, especially in developing and developed countries. Constant efforts to develop more reliable structures for bridges that can withstand earthquakes and calamities, have been opening new avenues in the bridge bearings market. The choice of appropriate type of bridge bearings by structural designers plays a key role in the bridge articulation and maintenance.
Market to gain substantially from Abundant Demand from Burgeoning Construction Activities World Over
Over the last decade, infrastructural projects have witnessed notable surge in developing and developed economies. This is supported by the swift pace of urbanization, especially in emerging regions of the world. This has led to a staggering rise in demand for a range of bridge bearing types in these regions. The large government thrust that construction activities has received in developing countries has led to the construction of new bridges and also refurbishment of aging infrastructures. The demand for bridge bearing refurbishment services in numerous parts of the world is also bolstering the uptake of bridge bearings.
A growing number of bridges getting replaced or modernized in regions such as China, Europe, the U.S, and the Middle East, to meet the safety standard of the public has also spurred the demand for modern bridge bearings. The demand for elastomeric bridge bearings, a modern type, has been fueled by such trends. Made of high grade materials, these elastomeric bridge bearings resist vibrations and shock and provide substantial support to the bridge.
Steel Production in China and other Developing Regions catalyze Rapid Expansion of Bridge Bearings Market
Several regional markets have emerged as potentially lucrative in the overall expansion of the bridge bearings market. China is one of the regions that is presenting vast prospects for end users in the market to capitalize on. The giant leaps that its steel industry has taken in recent years has accentuated the uptake of bridge bearings. Moreover, a growing number of investors in the building and construction industry is focusing on the economy, thereby setting favorable trends for the market evolution. The rising construction of leisure activities in regions such as the Middle East and Asia is a key factor also bolstering the use of bridge bearings. Such activities are especially fueled by the strides taken by the travel and tourism in these countries.
In developed nations, there has been rising influx of traffic from containerized cargo through waterways. This is propelling the demand for new bridges, thus boosting the bridge bearings market.
Strategic Initiatives in Backdrop of Fairly Fragmented Landscape in Bridge Bearing Market will help Companies Consolidate their Positions
The competitive landscape of the bridge bearings market is dotted by the presence of a plethora of global as well as regional players competing against each other. Players who seek the gains of their early entry have begun consolidating their position by investing in product development activities. Manufactures are also engaged in expanding their distribution networks to cater better to the needs in emerging economies. To this end, several manufacturers are also engaging in strategic mergers and acquisitions, aiming at regions such as China, the MEA, and Latin America.
Advent of Products that meet Standard Specifications stoking their Popularity among End Users
Manufacturers in various parts of the world are also focused on launching bridge bearings that conform to standard specifications and code of practice for road bridges to ensure that their offerings are of high-quality and can earn clients’ trust.
Advances in bridge engineering has led to the advent of better designs of bridge bearings in the market. For instance, manufactures of modern bearings are also precisely outlining their bearings and also suitably compounding them. The notable emergence of neoprene bridge bearing is a case in point. The demand for neoprene bridge bearing pads for lengthening the service lives of bridges is a notable trend. Their ease of introduction and substantial ability to withstand temperature variations account for their attractive demand.
Disc bridge bearings are another category gaining popularity in modern bridge construction with their vast rotational capabilities in longitudinal as well as transverse directions. The advent of such bridge bearings has helped meet the requirements of heavy construction industries.