Press release
Plain Bearing Market Witnessing Rapid Growth in the Automotive Sector
There are several types of bearings such as roller bearing, plain bearing jewel bearing and fluid bearing among others. Plain bearings are simplest of the type comprised of a surface with no rolling elements.
Based on design type, the plain bearing market is categorized into three segments: journal, linear and thrust bearings. The global surge in production of automobiles is driving the growth of the plain bearing market.
In addition, growing demand for bearings in the defense and aerospace industry is also contributing to the growth of this market.
Plain bearings are used in a wide range of equipment including automotive, aerospace, energy, construction machinery, farm and gardening machinery, and oilfield machinery among others.
The primary factor driving the growth of plain bearing market is the growing demand for motor vehicles globally.
In addition, the rising demand for bearings in the defense and aerospace sector is also aiding to the growth of this market. However, the increasing technological innovations are making these bearings durable and hence hindering the growth of aftermarket sales.
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In addition, the growing number is counterfeit products in also hindering the growth of plain bearings globally. Moreover, the introduction of smart bearings is expected to provide new market opportunities for bearing manufacturers in the near future.
Other technologies such as magnetic levitation and bearings cushioned with compressed air are also in the process of development.
The global plain bearing market has been categorized by types in journal plain bearing, linear plain bearing and thrust plain bearing. The journal plain bearing has been analyzed to hold the largest market share during the forecast period.
The rising demand for construction in developing regions like Asia Pacific and Middle East and Africa are driving the growth for this segment.
Furthermore, the falling price of thrust bearing is resulting into the fastest growth of this segment.
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TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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