Bearings Market Analysis by Top Key Players, Industry Size, Growth Factors To 2025 “Some of the typical advantage of the industrial bearing include reduction in lubricant consumption and increase in the energy production. Recent advancement in energy & power sector has led to the development of cost effective solution in the market of bearings.�
The global Bearings Market size is expected to value at USD 172.2 billion by 2025. The market is subject to witness a substantial growth due to the rising demand from heavy machinery manufacturing sector. In addition, increase in the number of application of high capacity bearings in wind turbines is predicted to boost overall market demand for bearing in the upcoming years. Increasing adoption of high capacity bearings in wind turbines helps to improve turbine reliability and performance. Some of the typical advantage of the industrial bearing include reduction in lubricant consumption and increase in the energy production. Recent advancement in energy & power sector has led to the development of cost effective solution in the market of bearings. These factors are expected to fuel market growth of bearing industry over the next seven years. Globally, the bearings industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market. Addition of electro-mechanical accessories into the bearings offers substantial performance enhancement along with reductions in size of the product. Incorporation of advanced sensor units with high performing bearing are anticipated to rocket market demand for bearing in the near future. The advanced sensor system helps to digitally monitor of axis movement, sequence speed, acceleration, deceleration, and load carrying capacity of the bearings. Development of advanced lubrication technology and seal technologies coupled with use of lightweight materials in high-performing systems are expected to offer lucrative growth opportunities for industry participants over the forecast period. The bearings market is broadly categorized into two major segments based on the application type such as ball bearings and roller type bearings. The ball bearings is considered as one of the fastest growing segment in the market of bearings with substantial revenue generation in the last few years.
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