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  • Metal Bellows Market | Industry Analysis 2020-2025

    Metal Bellows Market | Industry Analysis 2020-2025

    Metal Bellows Market | Industry Analysis 2020-2025
    Report code - SRAM298 Published On : Mar,2020 No. of Pages: 241
    Metal Bellows Market by Material Type (Titanium Alloys, Stainless Steel Alloys, Nickel All See more...
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    This 241-page comprehensive report, from Stratview Research, on the metal bellows market is one of its kind and estimates the current as well as future growth opportunities for the market participants until 2025. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.

    Metal Bellows Market: Highlights

    Metal bellows are a type of flexible seals used in pipe joints. They help in mitigating movement caused by thermal fluctuation, equipment movement, and vibration or pressure pulsation by converting movements into linear or rotational motion in any piping system. They also reduce the chances of leakage of any fluid or pressure in pipe joints. The performance of bellows depends on several factors including the type of raw material used and its properties, design factor, manufacturing process, etc. Metal bellows are used in a diverse range of applications ranging from the aerospace & defense to pharmaceutical, industrial automation, semiconductor manufacturing, solar power generation, water & wastewater treatment plant, and oil & gas industries.

    The year 2019 was very challenging, especially for the automotive and aerospace industries, owing to the huge decline in the automotive and commercial aircraft production. For instance; the grounding of B737 Max, P&W 1100G engine series failure (A320neo), delayed market entry of key aircraft programs such as B777X, revised production rates of key aircraft programs, such as B787 in the wake of the cancellation of orders from China and other parts of the world are some of the burning challenges, negatively impacting the entire supply chain including the demand for metal bellows in the aerospace industry.

    The recent COVID-19 outbreak is severely affecting the end-use industries of metal bellows such as aerospace and automotive. The rapid spread of the coronavirus pandemic (COVID-19) is projected to continue through the second quarter of 2020 and have a severe impact on these industries. Although the recovery is uncertain and depends on the post-virus economic environment and potential government stimulus, the long-term outlook seems vigorous for the metal bellows market with attractive growth opportunities for the market participants in years to come. The metal bellows market is forecasted to reach an estimated value of US$ 1.04 billion in 2025.

    The metal bellows market is segmented based on the material type as titanium alloys, stainless steel alloys, nickel alloys, and others. Titanium alloys are likely to remain the most dominant material type and are likely to witness the highest growth over the next five years. Growing composites content in the aerospace industry coupled with excellent compatibility of titanium with composites, increasing penetration of lightweight materials, growing usage of titanium alloys in the high-end cars to reduce weight and to gain high strength, and desirable properties of titanium concerning corrosion and thermal expansion are some of the factors behind the superior growth of titanium alloys in the market.

    Based on the product type, the market is segmented as edge-welded bellows, mechanically formed bellows, electroformed bellows, and others. Edge-welded bellow is likely to remain the most dominant product type and is likely to register an excellent CAGR during the forecast period, whereas mechanically formed bellow is likely to remain the second-largest product type over the same period. Edge-welded bellows are preferred for extreme temperature applications and corrosive environments, such as aircraft engines, semiconductor manufacturing equipment, oil & gas instruments, and medical device.

    Based on the end-use industry, the market is segmented as aerospace & defense, automotive, oil & gas, semiconductor, pharmaceutical, and others. Aerospace & defense is likely to remain the most dominant segment over the next five years. The year 2020 seems to be tough, owing to a host of factors such as the grounding of the B737max, the impact of the coronavirus outbreak forcing airlines to halt their operations globally, airframers to halt the aircraft production in China, the USA, and Europe for an undetermined time.

    However, all the major airframers are optimistic about the future with the expected rebound in 2021 supported by the expected entry of fuel-efficient variant of B777 (B777x), increasing the production rate of A320neo across the world, and FAA approval of B737x. furthermore, the market entry of Irkut and COMAC will add a stir to the growth of metal bellows in the segment. Semiconductor is likely to remain the fastest-growing segment of the market, owing to expected rebound in the demand for semiconductors in the aerospace & defense, smartphones, automotive, artificial intelligence (AI), and internet of thing (IoT) in years to come.

    In terms of region, Asia-Pacific is projected to remain the largest and fastest-growing market for metal bellows during the forecast period. The short-term market demand is challenging in the Asia-pacific region with China and South Korea being severely impacted by the coronavirus outbreak: Airbus has temporarily closed its A320 and A330 completion centers of Tianjin, China. However, the region’s market is expected to rebound in the coming quarters with reopening of assembly plants by Boeing and Airbus, upcoming oil & gas projects, growing electronics industry, technological innovations in the automotive and mobile industries.

    North America is projected to remain the second-largest market during the forecast period. The USA is the growth engine of the North American metal bellows market. The country is the hub for the aerospace industry with the presence of several aircraft OEMs, metal bellow suppliers, and raw material suppliers.

    The supply chain of this market comprises raw material suppliers, metal bellow manufacturers, tier players, and end-users. The key players in the market are Senior Plc., Freudenberg Group, EnPro Industries Inc., Witzenmann GmbH, Eaton Corporation Plc, U.S. Bellows, Inc., AESSEAL plc, Smith Group, Meggitt PLC, and MW Industries. Execution of mergers & acquisitions and the formation of collaboration with OEMs for the joint development of metal bellows are some of the strategies adopted by the major players to gain a competitive edge in the market.

    Some of the Key Mergers & Acquisitions and Strategic Alliances in the Market:

    • In 2018, Satair A/S (a company of Airbus Group) and Senior Metal Bellows extended the existing agreement (the first one was signed in 2017) to distribute all commercial aerospace aftermarket products including accumulators, bellows, thermal valves, compressors, etc. in Europe and Asia-Pacific. The agreement is extended with an aim to strengthen the distribution network outside North America.
    • MW Industries, Inc. acquired Ameriflex Inc. in 2018 to further strengthen its metal bellows product portfolio along with existing companies: BellowsTech and Servometer.
    • In 2015, MW Industries, Inc. acquired BellowsTech, LLC and Servometer, LLC to enter the metal bellows business and to better serve the market.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    The metal bellows market is segmented into the following categories. 

    Metal Bellows Market, By Material Type

    • Titanium Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Stainless Steel Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Nickel Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Metal Bellows Market, By Product Type

    • Edge-Welded Bellows (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Mechanically Formed Bellows (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electroformed Bellows (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Metal Bellows Market, By End-Use Industry Type

    • Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Semiconductor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pharmaceutical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Metal Bellows Market, By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: France, Germany, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of key market players (up to 3 players)
    • SWOT analysis of key market players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the material types by end-use industry type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].


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