Global Instrumented Bearing Market
Posted by Mayuri Kathade. on February 17th, 2020
Global Instrumented Bearing Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2026, at a CAGR of around XX % during a forecast period.
Global instrumented bearing market is anticipated to witness considerable growth throughout the forecast period. This is because of the increasing demand of bearings across several application sectors such as automotive, defense & aerospace and industrial sector. Rise in automobile production globally is stimulating the growth in demand for instrumented bearings and associated components. Instrumented bearings are used in many automotive systems such as antilock braking systems (ABS) and electronic stability control (ESC) among others.
Factors such as increasing demand from defense and aerospace industries and need for energy efficient solutions in numerous industries is also anticipated to influence the market growth. Aerospace equipment requires specific bearings that are used for mission critical applications. These bearings need to be monitored very closely so as to ensure zero error operability.By end use, automotive instrumented bearings held the highest revenue share accounting for above 45% of the overall market in 2014. The increase in production of motor vehicles is heavily influencing the rising demand for automotive instrumented bearings globally. Aerospace equipment is analyzed to be the fastest rising application segment in the instrumented bearing market and is projected to attain a significant growth in the future.
Globally, Asia Pacific led the global instrumented bearing market in 2014 and the region is projected to continue its dominance in 2026. The region's dominance is because of rising industrialization in countries such as China, India, Japan, and South Korea. Furthermore, increasing motor vehicle production in the region is further contributing to the growth of instrumented bearing market in Asia Pacific. North America and Europe followed Asia Pacific in global instrumented bearing market to collectively comprise over 41% of global market revenue share in 2014. Europe registered for fastest growth from 2018 to 2026, on account of its flourishing automobile industry.
Report on global instrumented bearing market evaluates the growth trends of the industry through historical study and estimates future predictions based on complete research. The report widely delivers the market share, growth, trends and forecasts for the period 2018-2026. The market size in terms of revenue (USD Mn) is calculated for the study period with the details of the factors affecting market growth (drivers and restraints). Also, the report quantifies the market share held by the major players of the industry and offers a detailed view of the competitive landscape.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global instrumented bearing market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global instrumented bearing market.Scope of Global Instrumented Bearing Market
Global Instrumented Bearing Market, By Type
• Ball Bearing• Plain Bearing• Roller Bearing• OthersGlobal Instrumented Bearing Market, By End Use
• Automotive• Aerospace equipment• Power transmission equipment• Construction machinery• Farm and garden machinery• Oilfield machinery• Other machineriesGlobal Instrumented Bearing Market, By Region
• North America• Europe• Asia Pacific• Middle East & Africa• South AmericaKey Players Operating in Global Instrumented Bearing Market
• SKF Group• Schaeffler Group• The Timken Company• NTN Corporation• JTEKT Corporation• NSK Ltd.
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