The increasing demand for smart industry solutions coupled with advancements in sensor technology is anticipated to drive the growth of sensor bearing market during the forecast period of 2019 to 2028. In addition to this, the growing number of stringent regulations and mandates by various governments to install ABS in automobiles are also expected to boost the demand for sensor bearings. The rising disposable income and middle class in developing countries of Asia pacific is further expected to fuel the demand for automobiles in this region. This automobile demand is also projected to further fuel the demand for sensor bearings in developing countries of Asia Pacific such as China and India during the forecast period of 2019 to 2028.
MARKET DYNAMICS
The sensor bearing market is anticipated to grow in the forecast period owing to the growing demand for efficient and low maintenance bearings. The rising demand for sensor bearings from end user industries such as automotive, transportation, and metal & mining is also boosting the growth of sensor bearing market. However, volatile raw material prices and availability of low quality products could affect the growth of the market during the forecast period of 2019 to 2028. On the other hand, the increasing demand from fast growing economies such as China and India is anticipated to offer ample growth opportunities for the global sensor bearing market in the coming years.
MARKET SCOPE
The "Global Sensor Bearing Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of sensor bearing market with detailed market segmentation by functionality, application, industry vertical, and geography. The global sensor bearing market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading sensor bearing market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global sensor bearing market is segmented on the basis of functionality, application, industry vertical, and geography. By functionality, the market is segmented into speed, temperature, vibration, displacement, and others. On the basis of application, the market is segmented into ABS, material handling equipment, electric motors, and others. On the basis of industry vertical, the market is segmented into automotive, transportation, metal & mining, aerospace & defense, oil & gas, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global sensor bearing market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The sensor bearing market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting sensor bearing market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the sensor bearing market in these regions.
MARKET PLAYERS
The reports cover key developments in the sensor bearing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from sensor bearing market are anticipated to lucrative growth opportunities in the future with the rising demand for sensor bearing in the global market. Below mentioned is the list of few companies engaged in the sensor bearing market.
The report also includes the profiles of key sensor bearing companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, products and services offered, financial information of the last three years, key developments in the past five years.
- ABB
- Fersa Bearings
- JTEKT Corporation
- NSK EUROPE LTD.
- NTN SNR
- Schaeffler Technologies AG & Co. KG
- SKF
- The Timken Company
- Thomson Industries, Inc.
- Waukesha Bearings
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.