The market
insights of Sensor Bearing Market report helps businesses obtain granular level clarity on current
business trends and expected future developments. For this, market data is
broken down in a systematic process to highlight focus areas of client’s
interest. For producing such excellent market research report, principal
attributes such as highest level of spirit, practical solutions, dedicated
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most advanced technology and commitment plays a key role. A numerous markets,
marketing strategies, trends, future products and rising opportunities have
been considered while studying market for preparing this Sensor Bearing
Market report.
Global Sensor Bearing Market is expected to rise from its initial estimated value of USD 4.97
billion in 2018 to an estimated value of USD 7.61 billion by 2026, registering
a CAGR of 5.47% in the forecast period of 2019-2026.
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Market Definition: Global Sensor Bearing Market
Sensor
bearings are semiconductor equipment that are used in various automotive,
material handling devices; they are installed in compact and hard to reach
locations of various machinery where there is a need to detect the various
environmental and mechanical circumstances such as temperature, vibration, etc.
Top
Manufacturers Covered in the Report:
Few of the
major competitors currently working in sensor bearing market are JTEKT
Corporation; THE TIMKEN COMPANY; mageba; Beijing Zhongxuan Bailian Technology Co.,
Ltd.; Harbin Bearing Manufacturing Co., Ltd.; Nachi Europe GmbH; Schaeffler AG;
NTN Corporation; SKF; NSK Ltd.; Thomson Industries, Inc.; Fersa Bearings; ABB;
Thermometrics Corporation and Waukesha Bearings Corporation.
Key Developments in the Market:
·
In
March 2019, ABB announced the launch of wireless condition-monitoring bearing
sensor that is proven to enhance the safety of the application they are
installed in and also provides regular information regarding the bearing to the
user informing them when to schedule the maintenance for the same.
·
In
October 2018, Schaeffler AG announced that they had completed the merger of INA
Bearings India Private Limited and LuK India Private Limited with Schaeffler
India Ltd. The combined organisation will be a leader of automotive and
industrial products supplier in the market as it will be able to provide
bearings, mobility solutions and other transportation services across different
industrial applications.
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Segmentation: Global
Sensor Bearing Market
Global Sensor Bearing Market By Functionality (Speed,
Temperature, Vibration, Displacement, Others)
Application (ABS, Material Handling Equipment, Electric
Motors, Others)
End-Use Industry (Automotive, Transportation, Metal &
Mining, Oil & Gas, Aerospace & Defense, Others)
Geography (North America, South America, Europe,
Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Drivers:
·
Growth in demand for effective and modern
bearings that are durable and require low maintenance; this factor is expected
to act as a driver for the market growth
·
Increase in demand from various end-use
industries for the product is expected to drive the market growth
·
Increased demand for off-highway equipments and
material handling equipment; this factor is expected to drive the market growth
Market Restraints:
·
Vulnerable nature of the materials used in the
production of the products acting as a restraint to the market growth
·
Availability of cheaper substitute products
which perform just as effectively is expected to act as a restraint to the
market growth
·
Lack of after-sales services provided by various
major manufacturers hindering the growth of the market
Key
Questions Answered in DBMR’s Market Report
• Which
regions will continue to remain the most profitable markets for market players?
• Which
factors will induce a change in the demand for market during the assessment
period?
• How
will changing trends impact the market?
• How
can market players capture the low-hanging opportunities in the market in
developed regions?
• Which
companies are leading the market?
• What
are the winning strategies of stakeholders in the market to upscale their
position in this landscape?
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