Bearing being a Machine Element that allows One Part to Bear Another

Bearings are vital machine components that are used to reduce friction within a machine. They reduce the amount of wear and tear caused by the machine’s friction, which can become a significant factor over time. For instance, in case of a roller bearing, the rolling elements in the bearings withstand the load, allowing the device to spin smoothly. With technological advancements in several industry verticals such as automotive, construction, and oil and gas, the applications and functionalities of bearings are evolving continuously. High end technologies such as smart bearings facilitate manufacturers to monitor bearing operations constantly.

More Technological Information About the Bearings- http://bit.ly/1sjoaZh

The China automobile industry, in particular, is in the midst of a revolutionary expansion, and is expected to eclipse most auto industries in Europe in the near future. The expanding road network and consumer affluence in China will aid the car industry domestically, and the cheap costs traditionally associated with the Chinese manufacturing sector will also allow the industry to expand internationally. This will help the bearings market in Asia Pacific expand at a strong growth rate over the coming years.The Asia Pacific market is expected to retain its position at the top of the pile among the geographical segments of the global bearings market, followed by Europe and North America.The global bearings market is expected to grow at a healthy CAGR of 7.7% from 2014 to 2020. The market was valued at US$75.91 billion in 2013, and is expected to reach a value of US$118.21 billion by 2020.

Demand from Aerospace Equipment Manufacturing to Grow at Fastest Rate

Other major growth drivers for the global bearings market include increasing demand from the defense and aerospace industries, and a growing need to reduce energy expenditure and cut down on harmful emissions.Like the automobile industry, defense and aerospace equipment manufacturing has also been enjoying a steady growth period over much of the last decade. Thanks to growing demand from all over the world, aerospace equipment is likely to be among the fastest developing application segments of the bearings market, rivaling the automobile industry. Other major end-use applications of the bearings market include power transmission equipment, construction machinery, farm and garden machinery, and oilfield equipment.

Bearings are used to reduce friction within machines, which plays a huge part in making them more efficient, less energy-intensive, and more environment-friendly. Machines that produce less friction last longer, work at maximum efficiency, and don’t break down often. This leads to functioning at optimum energy efficiency, resulting in less harmful emissions. The bearings market will expand to satisfy this environmental need in the coming years. Technological advancement in the design of bearings is expected to offer numerous market opportunities, thanks to the demand for better designed and more efficient bearings.

Some of the key players in the global bearing market profiled in this research report are Rexnord Corporation, Wafangdian Bearing Co. Ltd, The Timken Company Brammer PLC, NTN Corporation, C&U Group, Schaeffler Group, SKF Group, JTEKT Corporation, and The Timken Company NSK Ltd. The chapter on company profile also answers questions pertaining to company overview, financial status, research and development plans, and business and marketing strategies.

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