The Global Sensor Bearing market is forecast to reach USD 8.70 billion by 2027, according to a new report by Reports and Data. The major factor driving the market is the increasing demand for sensor bearings from the automotive and transportation industries. The enforcement of stringent regulations accredited to the mandatory installation of ABS systems in cars in various countries of Europe and the Asia Pacific are also propelling the growth of the market.
The demand for sensor bearings has increased at a consistent pace over the years owing to the demand for sensor application such as material handling, ABS, electric motors, and so on. Sensor bearings were introduced with the anti-locking braking system (ABS) in automobiles in the mid-1980s. As bearing systems evolved, bearing sensors phased out of the design in favor of active wheel speed sensors to provide wheel speed data for traction control.
The market in the Asia Pacific region is forecasted to grow owing to the high demand from the automotive industry. The region is a hub for automotive production, with suppliers and original equipment manufacturer setting up production facilities to fulfill the demand of the rising populations. Increase in disposable income and a high standard of living has also raised the demand for the sensor bearing market.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1705
Key participants SKF, The Timken Company, ABB Group, Fersa Bearings, Nachi Europe, NSK Corporation, Jtekt Corporation, BRTEC, Thomson Industries Inc., and Mageba S.A. among others
Further key findings from the report suggest
Browse Complete Report “Sensor Bearing Market” @ https://www.reportsanddata.com/report-detail/sensor-bearing-market
For the purpose of this report, Reports and Data have segmented into the global sensor bearing market on the basis of functionality, applications, end-users and region:
Functionality Outlook (Revenue, USD Billion; 2017-2027)
Applications Outlook (Revenue, USD Billion; 2017-2027)
End Users Outlook (Revenue, USD Billion; 2017-2027)
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.
Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.
Request Customization of the report @ https://www.reportsanddata.com/request-customization-form/1705
Regional Bifurcation of the Sensor Bearing Market Includes:
Thank you for reading our report. For additional information on customization of the report, connect with us and we will make sure you get a report tailored to meet your needs.
Browse Related Reports:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.