News Contact Us

APAC Bearings Market will see gains at over 8% up to 2022

Author : Ronak Bora | Published Date : 2019-04-12 

Asia Pacific bearings market will grow at over 8% CAGR from 2015 to 2022 due to substantial demand across various sectors such as electronics, automotive, and industrial equipment. Government norms and initiatives are favoring the industry growth. For instance, Chinese government is encouraging their manufacturers of mechanical and electronic bearings to expand domestically.

Request For Sample Copy Of This Report @ www.gminsights.com/request-sample/detail/111  

Automotive sector holds the highest revenue generator segment and will continue to dominate over the forecast timeline. This can be attributed to rising demand for technologically advanced solutions in the vehicles. Furthermore, popular trends such as development of application specific solutions is expected to drive the bearings market growth.

Ball bearings market is the leading revenue generator and is estimated to foresee a growth of 7.5% from 2015 to 2022. This growth can be attributed to their ability to decrease friction and their capability to spin effortlessly. Growing investments in railway and aerospace sector is anticipated to drive the segment growth. Furthermore, growing demand for fuel efficient passenger vehicles across Asia Pacific will stimulate the bearings market over the forecast timeframe.

Bearings Market will observe a steady growth over the foreseeable timeframe. It is estimated to grow at a CAGR of 7.6% and surpass USD 140 billion by 2022. Rising demand for automobiles and spare part components will boost the global bearings market share over the forecast timeline. Various technological developments in lubrication, weight reduction, seal technologies will present huge opportunities for the industry participants.

Make an inquiry before buying this report @ www.gminsights.com/inquiry-before-buying/111  

Growing demand for high performance bearings have led producers to integrate sensor technology. The sensors digitally monitor axial movement, acceleration, deceleration, rotation speed and load carrying capacity.

Manufacturers are investing heavily in R&D in order to offer innovative products and address increasing competition. For instance, ceramic ball bearings will drive the industry growth owing to its additional feature such as lightweight and more efficient in reducing friction & energy consumption during operations. The business is primarily driven by design innovations and new offerings. However, rising circulation of counterfeit products pose a threat for the bearings market. Engineers and quality inspectors are under constant pressure to indentify the fake bearings before assembling the product. Financial losses and cost incurred in these checks which includes hiring of trained anti counterfeit personnel are difficult to enumerate.

Bearings market such as mining and construction are projected to witness a substantial growth over the forecast timeline. Use of bearings in these sectors helps in reducing maintenance costs and enhances productivity at the mining sites.

Browse Full Report Summary @ www.gminsights.com/industry-analysis/bearings-market-report

The players involved in the global bearings market include Minebea Co. Ltd., Daido Metal Co., Timken, NTN Corp., Schaeffler Group, Brammer PLC, SKF, NSK Global, JTEKT. New product development, and high profile raids in order to minimize loss due to counterfeit products are the major competitive strategies adopted by the industry participants.


About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Aerospace Fillers Composite Market Showcase Impressive Growth Rate between 2019 and 2025

Published Date: 2019-06-13         Author: Ronak Bora

Global Market Insights added a new report on global Aerospace Fillers Composite Market to its research database. The report focuses on global major leading players with information such as company profiles, growth, product segment, technology segment, end user segment and region. Growing demand f... Read More

Missile Composites Market to observe remarkable push over 2019-2025

Published Date: 2019-06-13         Author: Ronak Bora

Global Market Insights presents the Missile Composites Market provides a detailed overview of major drivers, restraints, challenges, opportunities, current industry trends and strategies impacting the global market along with estimates and forecast of revenue. Significant advances have happened i... Read More

Aerospace Floor Panels Market: Industry Potential, Trends and forecast 2024

Published Date: 2019-06-13         Author: Ronak Bora

Rapidly increasing air traffic resulting from worldwide expansion of the aviation sector has propelled the aerospace floor panels market with key manufactures speeding up the production of commercial aircrafts. Constituting a major portion of any aircraft’s weight, floor panels need to be ligh... Read More

© 2019 Fractovia. All Rights Reserved