Sensor Bearing Market Future Forecast Indicates Impressive Growth Rate By 2027 | Jtekt, SKF, NTN Corporation, The Timken Company, Schaeffler, NSK, Thomson Industries, Mageba SA, Brtec, Fersa Bearings, Nachi Europe, Wafangdian Bearing, Harbin Bearing Manuf
The growing demand for sensor bearings from the automotive and transportation industry is a prime factor propelling the market growth of the sensor bearing. Sensor bearings are used to measure the speed of rotating shafts and wheels in the automotive industry, thus growing production of automotive is contributing to the market growth. According to the European Automobile Manufacturers' Association, 92.8 million motor vehicles were produced globally in 2019. Increasing use of sensor bearing in heavy machinery in sectors such as mining, construction, and power generation is also projected to foster the market growth of the sensor bearing.
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The Asia Pacific is expected to gain significant growth over the forecast period and this is attributed to the high demand for sensor bearings in the automotive sector as the Asia Pacific has emerged as major hubs of automobile production. According to the India Brand Equity Foundation, the passenger vehicle sales in India crossed the 3.37 million units in 2019 and is further expected to increase to 10 million units by 2020.
1. In June 2019, ABB has announced the launch of its Dodge® Safety Mount spherical roller bearings, with a built-in patented locking mechanism that cuts installation time by up to 75% compared to traditional products. It is designed for bulk materials and air handling applications.
2. In January 2020, Danfoss Launched MBT 3310 bearing sensor to measure the temperature in the bearings on wind turbines. The new Danfoss MBT 3310 bearing sensor is specially designed for measuring the temperature in the bearings on wind turbines.
3. In May 2019, NHBB has launched a wear sensor for the INVINSYS® brand of pitch link control bearings that allows helicopter maintenance personnel to determine the operating status of these flight-critical bearings using a wireless scanner.
4. In May 2020, UE Systems launched the On-Trak, a 16 channel IIoT edge analytic device. It is designed to deliver the earliest warning of bearing failure and lubrication issues, remotely.
The Sensor Bearing Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Sensor Bearing Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
• NTN Corporation
• The Timken Company
• Thomson Industries
• Mageba SA
• Fersa Bearings
• Nachi Europe
• Wafangdian Bearing
• Harbin Bearing Manufacturing
By the Product Type, the market is primarily segmented into:
• Speed Sensor Bearing
• Temperature Sensor Bearing
• Vibration Sensor Bearing
• Displacement Sensor Bearing
By Applications, the market is segmented into:
• Aerospace & Defense
• Oil & Gas
• Metal & Mining
The Report covers the following Regions:
-- North America
-- Asia Pacific
-- Central & South America
-- Middle East & Africa
Objective of the Sensor Bearing Market Report:
• To assess the size of the market by value and volume
• Analyze the Sensor Bearing Market in terms of regions and major countries
• Highlight recent developments and trends in the market
• Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
• Determine share of the Sensor Bearing Market in terms of various segments such as by product type, application, and end-user
• Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
• Discuss major factors that impact growth of the Sensor Bearing Market
The Sensor Bearing Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Sensor Bearing Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
• Material suppliers/wholesalers
• Market Distributors/traders
• Regulatory bodies
• Research organizations, and consulting firms
• Commercial research & developments (R&D)
• Trade associations and industry bodies
• Importers and exporters
• End-use industries
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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Stratagem Market Insights
Explore By: SJ
Stratagem Market Insights is a management consulting organization providing market intelligence and consulting services worldwide. We bring the expertise of consultants with a cumulative industry experience of more than 70 years. The firm has been providing quantified B2B research and currently offers services to over 350+ customers worldwide.
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