The growing demand for coated bearings from various applications is a key factor enabling growth of the bearings market, says Fortune Business Insights, in a report, titled “Bearings Market Size, Share and Industry Analysis, By Type (Ball Bearing, Roller Bearing), By Application (Automotive, Industrial Machinery, Aerospace, Others), and Regional Forecast, 2019-2026.”The global bearings market was valued at USD 39.46 billion in 2018 and is expected to reach USD 52.44 billion by 2026, exhibiting a CAGR of 3.6% during the forecast period (2019 2026).
As per the report, on the basis of application, the bearings market is segmented into automotive, industrial machinery, aerospace and others. The automotive segment is expected to hold maximum share owing to the expansion of the automobile industry. The rising emphasis on weight reduction will further aid the growth of the segment. The increasing demand for bearings in the automotive industry owing to its advantages such as the ability to rotate at high speed with precision and high durability along with noise and vibration reduction property. Furthermore, the rising focus of manufacturers towards the production of lighter bearings by adopting various technologies such as better forging techniques, low tolerances, and lightweight alloys will further propel the growth of the market. For instance, SKF developed bearing cages from titanium alloys used in gearbox applications. These titanium bearings offer high component strength and; temperature resistance properties especially applicable for high acceleration applications
Browse Complete Report Details –https://www.fortunebusinessinsights.com/industry-reports/bearings-market-101608
Rising Demand For Precision Bearing Will create Growth opportunities
The increasing demand for precision bearing owing to industrial automation will boost the market revenue during the forecast period. The increasing demand from various applications including the aerospace industry and machine tools has resulted in the adoption of precision bearings. The growing requirement for miniature bearings in industrial robots will propel the growth of the market. For instance, according to the secondary sources, in 2017, 2.1 million stand-alone industrial robots were installed globally. The rising technological advancement in office automation, medical equipment, and audio-visual equipment will fuel demand for miniature bearings. In addition, the growing focus of manufacturers for the development of miniature bearings will boost the growth of the market. For instance, SKF offers wide range of miniature ball bearings available in stainless steel along with seals or shields for various applications.
The report is dedicated to offering the best statistics, an explanatory study comprising of various characteristics allowing key players to remain robust in the market. It also discusses in-depth the recent innovations and advancement in the bearings market.
The Prominent Companies Operating In The Global Bearings Market Include:
Get PDF Brochure –https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/bearings-market-101608
As per the report, on the basis of application, the bearings market is segmented into automotive, industrial machinery, aerospace and others. The automotive segment is expected to hold maximum share owing to the expansion of the automobile industry. The rising emphasis on weight reduction will further aid the growth of the segment. The increasing demand for bearings in the automotive industry owing to its advantages such as the ability to rotate at high speed with precision and high durability along with noise and vibration reduction property. Furthermore, the rising focus of manufacturers towards the production of lighter bearings by adopting various technologies such as better forging techniques, low tolerances, and lightweight alloys will further propel the growth of the market. For instance, SKF developed bearing cages from titanium alloys used in gearbox applications. These titanium bearings offer high component strength and; temperature resistance properties especially applicable for high acceleration applications
Market Segmentation –
By Type
By Applications
By Geography
Ask for Customization –https://www.fortunebusinessinsights.com/enquiry/customization/bearings-market-101608
Major Table of Content for Bearings Market –
View More Trending Reports From Fortune Business Insights –
Facilities Management MarketValue to Hit 1.74 Trillion by 2026: Fortune Business Insights
Global Lighting Market 2019By Industry Size Estimation, Industry Share, Future Demand, Dynamics, Drivers, Research Methodology By 2026
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Bearings Market 2019 Trend, Demand, Growth, Size, Segmentation and Opportunities Forecast to 2026