Demand for Rubber Mechanical Goods to Grow 6.3% Annually Through 2022

A rebound in global medium and heavy truck and bus production will drive growth

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Mar 12, 2018, 11:54 ET

CLEVELAND, March 12, 2018 /PRNewswire/ -- Global demand for rubber mechanical goods is forecast to advance 6.3% per year to $76.7 billion in 2021. Although this rate of growth is a major improvement over the weak 2011-2016 pace, it is in line with the anticipated gains for the market as a whole. Global advances in the rubber mechanical goods segment will be fueled by:

a rebound in global medium and heavy truck and bus production
advances in light motor vehicle output and accelerating machinery shipments
the introduction of state-of-the-art mechanical goods
growth in the number of motor vehicles in use globally

Global demand for hose is projected to climb 6.2% per year through 2021, matching the average worldwide pace. Growth in the segment will be driven by the expansion of the global transportation equipment industry, advances in durable goods manufacturing activity, and rising demand for higher quality, better performing hose. These and other trends are presented in Global Industrial Rubber Products Market, 4th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/global-industrial-rubber-products-by-product-and-market-4th-edition-3605.htm

Global belt demand is projected to rise in line with gains for industrial rubber products overall. Because belts are often subject to intense operating conditions and are vital to the operation of a variety of equipment types, they are frequently replaced. As the global stock of motor vehicles, industrial machinery, and other durable goods grows through 2021, the aftermarket for belts will similarly expand.

Related studies include:
#3593 Global Industrial Enzymes Market, 7th Edition (January 2018)
#3556 Global Hard Surface Flooring (September 2017)

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Industrial Components studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group