Bridge Bearings Market By Material Type (Steel and Rubber & Combined), Design Type (Elastomeric Bearings, Pot Bearings, Sliding Plate Bearings, Roller Bearings, Spherical Bearings, Disc Bearings and Others) and Region- Market Forecast 2022-2028
Bridge Bearings Market - Analysis, Outlook, Growth, Trends, Forecasts
- January 2022
- 239 pages
- Industrial Automation
Bridge Bearings Market Outlook (2022-2028)
[239 Pages Report] The global bridge bearings market was valued at US$ 674.33 Mn in 2021, and is likely to reach US$ 705.8 Mn in 2022. The market is projected to reach US$ 935 Mn by 2028, registering a CAGR of 4.8% during the forthcoming forecast period.
Bridge Bearings Market Size (2022)
US$ 705.8 Mn
Projected Market Value (2028)
US$ 935 Mn
Global Market Growth Rate (2022-2028)
Most Preferred Design Type
Elastomeric Bearings (32%)
Growth is riding on the back of a flourishing global transport infrastructure industry, with countries such as China, India and the U.S implementing major road and rail network projects in forthcoming years. Overall, bridge bearings account for 0.7% share of the bearings market.
Consumption Analysis of Bridge Bearings (2013 to 2021) Vs Market Estimates (2022 to 2028)
According to Future Market Insights, the market for bridge bearings surged at a CAGR of 4.1% from 2013 to 2021. Accessible and dependable transportation infrastructure is the bedrock of every economy's success since it boosts productivity, saves time, and links society. As a result, the demand to improve existing road infrastructure in order to provide improved accessibility is growing, offering possibilities for bridge bearings.
Significant contractions were experienced in the past two years in bridge bearing sales due to the COVID-19 pandemic. Temporary cessation of mega infrastructure projects across various countries significantly altered the demand-supply dynamics, ushering in a recessionary trend. Since mid-2021, as relaxations are being enforced, projects have resumed, restoring demand prospects.
The bridge bearings market is expected to expand at a faster and more lateral pace because to ongoing significant public infrastructure projects, which are expected to provide public-private partnership (PPP) possibilities throughout the projected period. Over the projection period, demand for bridge bearing is expected to grow at a CAGR of 4.8%.
How is Growth of the Global Construction Industry Spawning Opportunities for Bridge Bearings?
The construction industry has witnessed significant investments in recent times. For instance, in FY2017, it is estimated that the spending on infrastructural construction was around US$ 3 trillion. Hence, expanding construction investments by PPP and regional governments are stipulated to register healthy growth in case of transport infrastructure and thus, subsequently augment the trade of bridge bearings.
Moreover, the transport infrastructure industry has witnessed sustained incremental growth over the years, which can be attributed to favorable economic conditions in numerous developing and developed countries. The bridge bearings market is anticipated to witness accelerated and lateral growth due to the ongoing large public infrastructural projects, which, in turn, are anticipated to create PPP opportunities over the forecast period.
Market Research Methodology - Perfected through Years of Diligence
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Bridge Bearings Market - Country-wise Analysis
Why Should Bridge Bearings Manufacturers Concentrate on India?
India is anticipated to generate lucrative expansion opportunities for bridge bearings manufacturers, given the presence of a flourishing road infrastructure sector. The India Brand Equity Foundation (IBEF) forecasts that the government intends to construct 65,000 km of national highways at a cost of US$ 741.51 billion by 2022-end.
As per the report, India’s roads transport more than 60% of all freight in the country, while handling 90% of total passenger traffic. Consequently, there is an increasing need to construct robust bridges across multiple terrain, including rivers, valleys and gorges, which is leading to more deployment of sturdy bridge bearings.
A series of bridge construction projects are scheduled to be completed or initiated by 2022. These include the Vertical Lift Railway Sea Bridge between Pamban and Rameswaram in Tamil Nadu and the Zuari Bridge in Panjim, Goa. These aforementioned projects have generated ample demand for bridge bearings.
How Opportunistic are Growth Prospects for Bridge Bearings across China?
China is among the dominant countries in terms of extensive passenger and freight transportation infrastructure. As of 2020, total length of highways across the East Asian behemoth comprised of 161,000 km (100,000 miles), while no less than 37,900 km (23,500 miles) of railway lines crisscross the nation. Consequently, a number of bridges have been constructed in recent years, augmenting demand for bridge bearings.
Moreover, future prospects for bridge bearings sales appears highly optimistic, with several mega infrastructure projects, including the highly lucrative Belt and Road Initiative (BRI), scheduled to be implemented on a massive scale. Projects such as the New Eurasian Land Bridge, China-Indochina Peninsula economic corridor and China-Central Asia Western Corridor, are also expected to involve extensive construction of road and rail networks across key countries.
Bridge Bearings Market - Category-wise Analysis
Which Material is the Most Preferred?
According to FMI, demand for steel bridge bearings will continue to hold major sway across the forecast period. Amongst all grades, preference for stainless steel will remain elevated, attributed to their increased corrosion resistance and excellent load and speed ratings. Moreover, the need for more durable bridges renders steel the primary choice.
However, in recent years, advancements in the construction industry have prompted companies to adopt more lightweight and flexible construction material, paving way for enhanced usage of rubber and combined bridge bearings. Materials such as elastic polymers are also being incorporated, as governments look to curtain maintenance costs associated with steel and other metal related bearings.
Which Bridge Bearing Design Type is Highly Sought After?
The bridge bearings market has been further divided based on design into elastomeric, pot, sliding plate, roller, spherical, disc, and other types of bridge bearings. The elastomeric bridge bearing segment is expected to develop rapidly in the global bridge bearings market.
The category is predicted to maintain its value share dominance and to account for 32.0% of the overall global incremental $ potential. The primary reasons for the expansion of the elastomeric bridge bearing sector are the low cost associated with the installation of elastomeric bridge bearings and greater performance against seismic stresses.
Bridge Bearings Market - Competitive Landscape
Prominent players in the bridge bearings market are progressively focusing on R&D initiatives in order to create application-specific bearings and boost their efficiency. Companies are also pursuing other methods, such as partnerships, mergers, collaborations, and capacity expansions, among others, in order to enhance their market share and client base.
- In April 2021, Canam Group Inc. (Canam Bridges) acquired Supermetal, a supplier, manufacturers and installer of structural steel for commercial, industrial and civil construction projects throughout the U.S and Canada, to enhance its production capacity and widen product offerings
- In 2020, Freyssinet Limited (FPC Italia) supplied a range of fixed, sliding guided and free sliding spherical bearings with significant vertical loads from approx. 30,000 kN and horizontal loads up to 2,000 kN for the new road link in the Rotterdam region on A16 Highway. The movement is up to 400 mm, and equipped with tapered plates to compensate the slopes of the structure
Bridge Bearings Market Report Scope
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered in the Bridge Bearings Industry Study
Bridge Bearings by Material Type:
- Steel Bridge Bearings
- Rubber and Combined Bridge Bearings
Bridge Bearings by Design Type:
- Elastomeric Bridge Bearings
- Pot Bridge Bearings
- Sliding Plate Bridge Bearings
- Roller Bridge Bearings
- Spherical Bridge Bearings
- Disc Bridge Bearings
- Other Bridge Bearings
Bridge Bearings by Region:
- North America Bridge Bearings Market
- Latin America Bridge Bearings Market
- Europe Bridge Bearings Market
- South Asia and Pacific Bridge Bearings Market
- East Asia Bridge Bearings Market
- Middle East and Africa Bridge Bearings Market