Global Instrumented Bearing Market is Estimated to Reach $165 Billion by 2024, Says Accurize Market Research
Global Instrumented Bearing Market report published by Accurize Market Research forecast that the global market is expected to reach $165 billion by 2024; growing at a CAGR of 7.6% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Growing demand for energy efficient solutions, rising demand from aerospace and defense sectors, and increasing applications of bearingsto drive the growth of the market
Growing demand for energy efficient solutions, rising demand from aerospace and defense sectors, and increasing applications of bearings fuels the demand for the global instrumented bearing market. Furthermore, technological advancements also boosts the growth of the market.
Market Segmentation
The global instrumented bearing market has been bifurcated on the basis of product type, end user, and geography. Product type segment is bifurcated as roller bearings, ball bearings, plain bearings, and others. End use includes aerospace equipment, automotive, construction machinery, power transmission equipment, farm and garden machinery, oilfield machinery, and other machineries.
By geography the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
Top players in the market
The key players operational in the market includes NTN Corporation, The Timken Company, Schaeffler Group, JTEKT Corporation, and SKF Group, among others.
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