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Bearings Market Is Expected To experience Robust Growth Owing To Growing Demand From Various End-Use Industry Till 2025: Grand View Research, Inc.

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Bearings Market Is Expected To experience Robust Growth Owing To Growing Demand From Various End-Use Industry Till 2025: Grand View Research, Inc.

August 07
05:10 2019
Bearings Market Is Expected To experience Robust Growth Owing To Growing Demand From Various End-Use Industry Till 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,The bearings market is estimated to witness considerable growth in the forthcoming years, ascribed to the aim to achieve energy efficiency.

The global bearings market size is expected to reach USD 186.1 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 9.1% during the forecast period. Bearings are essential in almost every application that involves motion and they help minimize friction between different mechanical components in several industrial machinery and equipment, resulting in reduced energy consumption. Hence, this machine element finds application in all industries, ranging from automobiles, household appliances, and aerospace to industrial machinery, using machinery or related motor-driven linkages.

North America bearings market share, by product, 2014 - 2025 (USD Billion)

The bearings market is estimated to witness a considerable growth in the forthcoming years, ascribed to the aim to achieve energy efficiency. Energy saving and bearings go hand-in-hand. The main objective of this element is saving energy by reducing friction, be it during the rotation of shafts of a transmission or the wheel of a vehicle. Additionally, rising demand for commercial vehicles is expected to catapult the demand from automotive sector across the world.

Technological advancements including smart bearings, development of advanced materials and lubricants, and integrating sensor units, are anticipated to provide high growth potential to the market. With the objective of enhancing performance, vendors are incorporating sensor units of the product. Sensor units help digital monitoring of rotation speed, axial movement, load carrying capacity acceleration, and deceleration. These units are presently being used in conveyors forklifts, road rollers, and electric motors. Furthermore, the integration of IoT capabilities facilitates manufacturers to monitor bearing operations constantly.

The market is mature with a dynamic demand closely related to the state of engineering industries and capital goods. Companies are offering integrated products that significantly decrease the number of bearings that go into an assembled product and reduce the overall cost of equipment. This in turn is also increasing the shelf-life and reliability of the product. Product manufacturers are increasingly investing in R&D to address the intensifying competition by providing innovative products.

All The Further In-depth Insights: https://www.grandviewresearch.com/industry-analysis/bearings-market

Further key findings from the study suggest:

  • The development of cost-effective wind energy generating product has resulted in their increased espousal within wind turbine applications that aid in increasing energy production, reduce lubricant consumption, and enhancing turbine performance and reliability

  • Roller bearings is anticipated to emerge as the largest product segment by 2025 and outpace ball bearings, ascribed to their ability to carry heavy loads and shock or impact loading

  • Railway and aerospace segment is estimated to witness the fastest CAGR of over 8.0% over the foreseeable years, due to their growing demand in applications such as shock absorbers, gearboxes, doors, and tilting mechanisms to name a few

  • Asia Pacific is anticipated to witness the fastest CAGR of over 5.0% by 2025 attributed to the increased demand for fuel-efficient passenger vehicles, industrialization, and swift infrastructure development

  • The key competitors operating in the bearings market include SKF, NSK, Timken, Schaeffler, NTN, and JTEKT. Various leading companies are investing in high-level R&D to come up with innovative solutions. These solutions are focused on being cost-effective as well as on enhancing the overall quality of the end-product

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/1396/ibb

Table of Contents

Chapter 1 Methodology and Scope
                   1.1 Research Methodology
                   1.2 Research Scope & Assumptions
                   1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Bearings Industry Outlook
                   3.1 Market Segmentation & Scope
                   3.2 Bearings – Market Size and Growth Prospects 2014 – 2025
                   3.3 Bearings – Value Chain Analysis
                   3.4 Market Dynamics
                       3.4.1 Market driver analysis
                           3.4.1.1 Increased application of high capacity bearings in wind turbines
                           3.4.1.2 Increasing demand for bearings in energy-efficient vehicles
                           3.4.1.3 Growing demand in railway, aerospace and other applications
                       3.4.2 Market restraint/challenge analysis
                           3.4.2.1 Counterfeit products
                           3.4.2.2 Increasing raw material prices
                       3.4.3 Market opportunity analysis
                           3.4.3.1 Integration of electro-mechanical features into bearings for medical applications
                   3.5 Bearings – Key Opportunities Prioritized
                   3.6 Bearings – Porter’s Five Forces Analysis
                       3.6.1. Supplier Power
                       3.6.2. Buyer Power
                       3.6.3. Substitution Threat
                       3.6.4. Threat from new entrant
                       3.6.5. Competitive rivalry
                   3.7 Bearings – PESTEL Analysis
                       3.7.1. Political Landscape
                       3.7.2. Environmental Landscape
                       3.7.3. Social Landscape
                       3.7.4. Technology Landscape
                   3.8 Bearings – Company market share analysis, 2018
Chapter 4 Market Categorization 1 – Product Estimates & Trend Analysis
                   4.1 Global Bearings Market Share by Product, 2018 & 2025 (USD Billion)
                   4.2 Ball Bearings
                       4.2.1. Market estimates and forecast, 2014 – 2025 (USD Billion) 
                       4.2.2. Market estimates and forecast by region, 2014 – 2025 (USD Billion)
                   4.3 Roller bearings
                       4.3.1. Market estimates and forecast, 2014 – 2025 (USD Billion) 
                       4.3.2. Market estimates and forecast by region, 2014 – 2025 (USD Billion)
                   4.4 Other bearings
                       4.4.1. Market estimates and forecast, 2014 – 2025 (USD Billion) 
                       4.4.2. Market estimates and forecast by region, 2014 – 2025 (USD Billion)

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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