Industrial Rubber Products: A Global Strategic Business Report
San Jose, California (PRWEB) October 23, 2012
Follow us on LinkedIn – Worldwide industrial rubber products market is expected to witness steady growth, driven by favorable prospects in major original equipment manufacturing markets, specifically the automotive sector. Despite witnessing considerable decline in revenues during 2008 and 2009, the global market for industrial rubber products staged a healthy comeback in 2010, driven by the resurgence in growth fundamentals such as improvement in global economy, and subsequent improvement in spending power among end-users. With the global sales of motor vehicles, particularly light vehicles, witnessing strong resurgence driven by the increasing demand from emerging economies, the demand for OEM industrial rubber products is also on the upswing. This increased demand is also expected to fuel growth in the aftermarket sector for upgrades and replacement products. The expected increase in production of light automotive vehicles bodes well for OEM market for industrial rubber products. Improving conditions in the manufacturing sector also offer potential opportunities for various types of industrial rubber products, although most of the future growth is anticipated from emerging markets such as China. On the other hand, developed markets such as Japan and Western Europe are expected to witness relatively modest growth in view of mature conditions.
As stated by the new market research report on Industrial Rubber Products, mature markets such as the US, Japan and Western Europe are expected to hold their ground in the coming years despite the growing prominence of emerging economies. Given their technological and industrial strength, the mature markets continue to rank among the leading nations in product utilization, which is in turn driving growth in these regions. In particular, the demand for industrial rubber products in the US is expected to witness substantial growth in the upcoming years, driven by increased manufacturing activity in various end-use sectors. Asia-Pacific represents the fastest growing regional market for industrial rubber products. Increasing disposable incomes and industrialization efforts are offering new avenues for industrial rubber products in emerging markets such as China and India. Industrial rubber products market in the Middle East and Africa as well as South and Central American regions is also poised to grow in the near future, although these regions represent a relatively smaller share of the overall market. Growth is expected to remain healthy even in Eastern Europe, given the ongoing transfer of production of durable goods to the region, predominantly from Western Europe.
Mechanical Rubber Goods represent the largest product segment in the global market. Growth dynamics in the segment are dependent on the general trends in industrial production and GDP, and production and registration of motor vehicles. The segment is expected to continue its hold as the largest product market, owing to the products’ heavy usage in motor vehicles. The United States represents the single largest market for mechanical rubber goods. Rubber Hose and Belting segment is expected to register rapid gains, driven by favorable pricing scenario in comparison to mechanical rubber goods.
The industrial rubber products market is highly competitive with the top ten companies accounting for less than one-third of the global sales. Major players profiled in the report include Avon Rubber Plc, Bridgestone Corporation, Carlisle Companies Incorporated, ContiTech AG, Cooper-Standard Automotive Inc., Delphi Automotive PLC, Eaton Corporation, EnPro Industries Inc., Federal-Mogul Corporation, Fenner Plc, Freudenberg Group, Gates Corporation, Habasit AG, Henniges Automotive, Hutchinson S.A., JSJ Corporation, Meiji Rubber & Chemical Co. Ltd., Myers Industries Inc., NOK Corporation, Parker-Hannifin Corporation, Sumitomo Rubber Industries Ltd., The Yokohama Rubber Company Ltd., Tokai Rubber Industries Ltd., Toyo Tire and Rubber Co. Ltd., and Trelleborg AB, among others.
The research report titled "Industrial Rubber Products: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections for geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia Pacific, Latin America, and Rest of World. Product segments analyzed include Mechanical Rubber Goods, Rubber Hose and Belting, and Other Industrial Rubber Products.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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