Global sensor bearing market to reach USD 7.2 billion by 2025.
Global sensor bearing market valued approximately USD 4.9 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 5.6 % over the forecast period 2018-2025. The main factors responsible for high CAGR of the market include rising demand for sensor-bearings from end-user industries such as transportation and automotive. In addition, strict law enforcement related to mandatory installation of ABS systems in vehicles in European and Asia Pacific countries. Growing demand of sensor bearings for material handling equipment and off-highway equipment is supplementing growth to the market. However, price fluctuations of raw materials and easy availability of its low-cost alternatives may hinder the market growth during the forecast period.
The regional analysis of global sensor bearing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to rising demand of sensor bearing in aerospace industry. Europe also contributes a satisfactory growth in the global sensor bearing market due to increasing demand of various chemicals on a large scale. Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to growth in chemical manufacturing industries in developing countries such as India, China and Japan.
The major market player included in this report are:
> NTN Corporation
> SKF
> Schaeffler Technologies AG & Co. Kg
> The Timken Company
> ABB Group
> Jtekt Corporation
> Fersa Bearings
> Mageba SA
> BRTEC
> Wafangdian Bearing Co. Ltd.
> Harbin Bearing Manufacturing Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Functionality:
> Speed
> Temperature
> Vibration
> Displacement
> Others
By Application:
> Material Handling Equipment
> ABS
> Electric Motors
> Others
By End-Use Industry:
> Automotive
> Metal & Mining
> Transportation
> Aerospace & Defense
> Oil & Gas
> Others
By Regions:
> North America
o U.S.
o Canada
> Europe
o UK
o Germany
> Asia Pacific
o China
o India
o Japan
> Latin America
o Brazil
o Mexico
> Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2015, 2016
Base year - 2017
Forecast period - 2018 to 2025
Target Audience of the Global Sensor Bearing Market in Market Study:
> Key Consulting Companies & Advisors
> Large, medium-sized, and small enterprises
> Venture capitalists
> Value-Added Resellers (VARs)
> Third-party knowledge providers
> Investment bankers
> Investors
