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Magnetic Bearing Market - Innovation in Products and Business Expansion to Generate Lucrative Opportunities for Manufacturers & Distributors
Transparency Market Research delivers key insights on the global magnetic bearing market. In terms of revenue, the global magnetic bearing market is estimated to expand at a CAGR of 5.7% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global magnetic bearing market.The global magnetic bearing market is broadly affected by several factors, such as low maintenance cost, high efficiency, increasing industrialization, and high adoption of magnetic bearing systems.
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Magnetic Bearing Market: Dynamics
In terms of type, the magnetic bearing market has been bifurcated into active magnetic bearings (electromagnetic (EM) biased magnetic bearing and permanent magnet (PM) biased magnetic bearing), and passive magnetic bearings. Based on application, the market has been divided into turbo machines (compressors, turbines, pumps, and others), motors, and generators. In terms of end-use, the market has been classified into bio-medical engineering, semiconductor industry, aerospace, oil & gas, power generation, and others (marine, processing, etc.). Based on end-use vs application, the market has been categorized into bio-medical engineering (turbo machines {compressors, turbines, pumps, and others}, motors, and generators), semiconductor industry (turbo machines {compressors, turbines, pumps, others}, motors, and generators), aerospace (turbo machines {compressors, turbines, pumps, others}, motors, and generators), oil & gas (turbo machines {compressors, turbines, pumps, others}, motors, and generators), power (turbo machines {compressors, turbines, pumps, others}, motors, and generators), and others (turbo machines {compressors, turbines, pumps, others}, motors, and generators).
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Magnetic Bearing Market: Prominent Regions
In 2020, the Asia Pacific region contributed around 43% revenue share to the global magnetic bearing market. Moreover, the demand for magnetic bearings in Asia Pacific is anticipated to expand at a faster pace than in any other region, due to increasing investment in various end-use industries coupled with the growing population in the region.
Magnetic Bearing Market: Key Players
Key players operating in the global magnetic bearing market include SKF AB, Siemens AG, Schaeffler Technologies GmbH & Co. KG, Waukesha Bearings Corporation, KEBA, Calnetix Technologies, LLC, Mecos Ag, SpinDrive Oy., EAAT GmbH Chemnitz, and Supermag (Suci Technology).
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Global Magnetic Bearing Market: Segmentation
Magnetic Bearing Market, by Type-
Active Magnetic Bearings
Electromagnetic (EM) Biased Magnetic Bearing
Permanent Magnet (PM) Biased Magnetic Bearing
Passive Magnetic Bearings
Magnetic Bearing Market, by Application-
Turbo Machines
Compressors
Turbines
Pumps
Others
Motors
Generators
Magnetic Bearing Market, by End-use-
Bio-Medical Engineering
Semiconductor Industry
Aerospace
Oil & Gas
Power Generation
Others (Marine, Processing, etc.)
Magnetic Bearing Market, by Region
North America
Europe
Asia Pacific
Middle East & Africa
South America
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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