Bearings Market – technological advancements offer high growth opportunities
February 22, 2017 | By MRO Magazine
Dublin – Research and Markets has announced the addition of the “Bearings Market Analysis 2014 – 2025” report.
The global bearings market is expected to reach USD 172.2 billion by 2025.
The market is anticipated to witness a healthy growth, ascribed to achieve energy efficiency coupled with high demand across the automotive sector. The increasing demand for commercial vehicles is anticipated to propel demand across the automotive sector over the coming years. Bearings are necessary in nearly all applications that involve motion, so all industries, ranging from household appliances, automobiles, and industrial machinery to aerospace, using machinery or related motor-driven linkages use bearings.
The global bearings market is mature with a dynamic market demand closely related to the state of engineering industries and capital goods. Manufacturers in the bearings industry invest in R&D to address the rising competition by offering innovative products.
The technological advancements, such as smart bearings and lubrication technology, incorporating sensor units in bearings, are estimated to offer high growth opportunities to the market. Companies are offering integrated products that drastically reduce the number of bearings required in an assembled product and minimize the overall cost of the equipment. Moreover, it improves the reliability and shelf-life of the product.
Key Topics Covered:
- Bearings Market Variables, Trends & Scope
- Bearings: Product Estimates & Trend Analysis (USD Billion)
- Bearings: Application Estimates & Trend Analysis (USD Billion)
- Bearings: Regional Estimates & Trend Analysis (USD Billion)
- Competitive Landscape
- Brammer PLC
- Harbin Bearing Manufacturing Co., Ltd.
- HKT Bearings Ltd.
- JTEKT Corporation
- NBI Bearings Europe
- NSK Global
- NTN Corporation
- RBC Bearings Inc.
- Rexnord Corporation
- RHP Bearings
- Schaeffler Group
- SKF Corporation
- The Timken Company
For more information about this report visit http://www.researchandmarkets.com/research/zhn4qc/bearings_market