Global Bearings Market By Product (Ball Bearings, Roller Bearings), By Application (Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace) Is Expected To Reach $117.27 Billion By 2020: New Report By Grand View Research, Inc.
Resource from: Grand View Research Likes:211
Apr 02,2015
San Francisco, California, April 1, 2015 (GLOBE NEWSWIRE) -- The global bearings market is expected to reachUSD 117.27 billion by 2020, according to a new study by Grand ViewResearch, Inc. Growing need to address energy efficiency in severalapplication areas is expected to drive the bearings market.Technological advancements along with investments in R&Dactivities are also expected to drive market demand over theforecast period. Development of seal technologies, light weightelements in high performance bearings and lubrication technologiesoffer several market growth opportunities. The aforementionedtechnologies exhibit high energy efficiency characteristics.Bearings help reduce energy consumption by reducing frictionbetween several mechanical components in a wide range of industrialequipments and machinery. For example, the new E2 bearingsdeveloped by SKF are reported to help reduce frictionsignificantly.
Browse in-depth research report on Global BearingsMarket with Charts And Figures: http://www.grandviewresearch.com/industry-analysis/bearings-market
Increasing bearings demand across railway andaerospace applications offer significant avenues for market growth.Surging demand for bearings and other precision components used inaircraft engines is also expected to favorably impact market growthover the next few years. Innovative material technologies and highbearing performance play an important role in aero-engine bearingdevelopments.
Further key findings from the studysuggest:
Ball bearings are expected to emerge as a high growth segmentover the next few years as it exhibits the capability to reducefriction owing to smaller surface contact. Furthermore, ballbearings can be used with thrust as well as radial loading owing totheir ability to spin smoothly. Deep groove bearings are simple indesign, non-separable and need low maintenance owing to which thesegment is expected to witness considerable growth over the nextfew years.
Growing demand for auto components and automobiles is expectedto fuel market demand over the forecast period. The railway &aerospace sector is also expected to witness rapid growth over thenext six years. Rise in the number of commuters using publictransportation is expected to be the key market driver. Further,availability of improved ways to assist local as well as worldwidetransportation systems also provide opportunities for marketgrowth.
Asia Pacific emerged as the dominant regional market in 2013;infrastructure development and rapid industrialization are expectedto drive the regional market growth over the forecast period.
Key market players include NTN Corporation, Schaeffler Group,SKF, NSK Global, Timken and JTEKT. Manufacturers focus on providingspecialized bearings often tailored to customer specification orapplication requirements. The process of product development reliesheavily on the end-market.
Get more insights about Global Bearings Market orrequest for the sample of this research report: http://www.grandviewresearch.com/industry-analysis/bearings-market
For the purpose of this study, Grand ViewResearch has segmented the global bearings market on the basis ofproduct, application and region:
Bearings Product Outlook (Revenue, USD Million, 2012 -2020)
Ball bearings
Roller bearings
Others
Bearings Application Outlook (Revenue, USD Million, 2012- 2020)
Automotive
Agriculture
Electrical
Mining & Construction
Railway & Aerospace
Others
Bearings Regional Outlook (Revenue, USD Million, 2012 -2020)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Browse to see more reports of this category byGrand View Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research andconsulting company, registered in the State of California andheadquartered in San Francisco. The company providessyndicated research reports, customized research reports, andconsulting services. To help clients make informed businessdecisions, we offer market intelligence studies ensuring relevantand fact-based research across a range of industries, fromtechnology to chemicals, materials and healthcare.
(Grand View Research)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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