Global Instrumented Bearing Market is estimated to reach $165.1 Billion by 2024; growing at a CAGR of 7.5% from 2016 to 2024. A bearing is a machine component that are used to reduce the friction between moving parts and allow the machines to move at higher speed. These bearings are capable of carrying heavy loads with ease and efficiency. Additionally, they are combined with sensors that enables to measure angular position of rotating ring. The information gathered from these sensors are further used in several applications including adaptive cruise control, anti-lock braking system, and others. Bearings are found in a range of applications including airplanes, automobiles, machine tools, refrigerators, ceiling fans, and many others.
The key drivers of the global instrumented bearing market include increasing demand from aerospace and defense sector, rising need for energy efficient solutions, and growing applications. Though, factors such as easy access to low quality products, and falling market of after sales could restrain the market growth. Additionally, advanced technologies could offer opportunities in years to come.
The global instrumented bearing market is categorized as product type, end user, and geography. Product type segment is bifurcated as roller bearings, plain bearings, ball bearings, and others. End user segment includes farm and garden machinery, aerospace equipment, construction machinery, power transmission equipment, automotive, oilfield machinery, and other machineries.
Based on geographical analysis, instrumented bearing market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. While, Rest of the world covers South America, Middle East, and Africa.
They key players includes JTEKT Corporation, NTN Corporation, Schaeffler Group, The Timken Company, and SKF Group, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Instrumented Bearing Market with respect to major segments such as product type, and end user
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Instrumented Bearing Market has been included in the report
- Profile of the key players in the Global Instrumented Bearing Market will be provided, which include key financials, product & services, new developments, and business strategies
Scope of the Global Instrumented Bearing Market
Product Type Segments
- Roller Bearings
- Plain Bearings
- Ball Bearings
- Other Product Types
End User Segments
- Farm and Garden Machinery
- Aerospace Equipment
- Construction Machinery
- Power Transmission Equipment
- Oilfield Machinery
- Other Machineries
- North America
- Asia Pacific
- ·South Korea
- ·South America
- ·Middle East