Instrumented Bearing Market Size, Revenue Share, Drivers & Trends Analysis, 2023–2032

The global instrumented Bearing market size was USD 777.6 Million in 2022 and is expected to reach USD 1,555.23 Million in 2032, and register a rapid revenue CAGR of 8% during the forecast period. Rising demand for Predictive Maintenance, and affordable and effective machine and equipment maintenance across various industries and increasing trend of Industry 4.0 are major factors driving market revenue growth. Instrumented bearings provide for real-time machine health monitoring, which lowers downtime, maintenance expenses, and energy usage.

 

Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/7358 

For many different industries, including aerospace, defense, automotive, and heavy machinery, among others, requirement for Predictive Maintenance has become essential. Instrumented bearings are essential in giving real-time data on machine health, and predictive maintenance plays a key role in recognizing problems. This helps to prevent unplanned downtime, lower maintenance expenses, and improve machinery's general efficiency. Industry 4.0 trend emphasizes on incorporation of cutting-edge technologies such as Internet of Things (IoT), Artificial Intelligence (AI), and Big Data Analytics.

In the aerospace sector, where these bearings are utilized in crucial components such as engines, landing gear, and flight control systems, among others, use of instrumented bearings has also become crucial. Rapid growth in the aerospace industry, is in turn, rising demand for instrumented bearings, rising demand for commercial aircraft and increasing focus on passenger safety. Moreover, use of instrumented bearings in wind turbines, which aid in real-time monitoring of turbine's health, is another factor driving market revenue growth.

Instrumented bearings find extensive use in the automobile sector, where these are crucial components of things such as engines, transmissions, and wheels. Need for instrumented bearings in the automotive industry is increasing by rising popularity of electric and hybrid vehicles, which need more dependable and effective components. Furthermore, increasing requirement for affordable and effective maintenance of machinery and equipment across numerous sectors is also expected to drive market revenue growth during the forecast period. For diverse businesses to remain competitive in the market, using instrumented bearings helps to reduce downtime, maintenance costs, and energy usage.

Competitive Landscape:

  • SKF Group
  • NTN Corporation
  • Schaeffler AG
  • The Timken Company
  • NSK Ltd.
  • JTEKT Corporation
  • THB Bearings
  • Rexnord Corporation
  • MinebeaMitsumi Inc.
  • AST Bearings LLC

The global market is further segmented into type and application:

By Type Outlook  
  • Ball Bearing
  • Roller Bearing
  • Plain Bearing
  • Others
By Application Outlook  
  • Aerospace
  • Automotive
  • Industrial
  • Energy
  • Others

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

To request customization of this report @ https://www.reportsanddata.com/request-customization-form/7358 

Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.

Browse More Reports:

Yacht Market @ https://www.reportsanddata.com/report-detail/yacht-market

Passport Reader Market @ https://www.reportsanddata.com/report-detail/passport-reader-market

Endpoint Security Market @ https://www.reportsanddata.com/report-detail/endpoint-security-market

Energy Management Systems (EMS) Market @ https://www.reportsanddata.com/report-detail/energy-management-systems-market

Enhanced Fire Protection Market @ https://www.reportsanddata.com/report-detail/enhanced-fire-protection-market

Electrostatic Discharge (ESD) Protection Devices Market @ https://www.reportsanddata.com/report-detail/electrostatic-discharge-protection-devices-market

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help clients make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

(Head of Business Development)

Reports and Data | Web:www.reportsanddata.com

Direct Line:+1-212-710-1370

E-mail:sales@reportsanddata.com

Blogs|Press Release|Industry News|Our competencies

Browse MoreUpcoming Reports @https://www.reportsanddata.com/upcoming-reports

Browse More Latest Reports @https://www.reportsanddata.com/report

Posted in Default Category on September 11 2023 at 09:10 PM

Comments (0)

No login