Global Sensor Bearing Industry was valued at USD 5.3 Billion for the year 2018. Sensor Bearing Industry is further expected to grow at a CAGR of 6% from 2018 to reach USD 7.20 Billion by the year 2025. European region holds the major Industry share whereas Asia Pacific region is considered as the fastest growing Industry in the forecasted period. It is observed that the developing countries from an emerging Asia Pacific Industry are anticipated to grow at a strongly in the next 5 years.
Global Sensor Bearing Industry Share and Size by 2025 (USD Billion)
As part of the qualitative analysis, this research study provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. The report defines, describes, and forecasts the sensor bearing market, based on functionality, application, and region. It provides a strategic analysis of micro markets with respect to individual growth trends, prospects, and their contribution to the overall market.
Speed functionality sensor bearings are mostly used in the ABS systems of automotive vehicles. Presently, over 90% of the vehicles that ply on roads are equipped with wheel speed sensors in the ABS systems. Additionally, the US and some member countries of the European Union have made the installation of ABS and ESC systems mandatory in passenger cars since 2016 and 2018, respectively, thereby leading to the increasing demand for sensor bearings in these countries
Major Players in Sensor Bearing Industry are SKF, Schaeffler Technologies AG & Co. KG, NTN Corporation, Timken, NSK Corporation, JTEKT Corporation, Mageba SA, BRTEC, ABB Group, Fersa Bearing SA, Nachi Europe GmbH and other 9 more companies information is provided in research report. Better geographical reach at an operational level with the growing usage of innovative technology for ingredient processing is the assisting Industry growth. Similarly, various growth strategies adopted by Tier 1 & 2 players such as merger and acquisition has provided comprehensive Industry opportunities for a various stakeholder in the value chain.
SWOT Analysis of Sensor Bearing Industry
Exhaustive information about new products, untapped geographies, recent developments, and investments in the sensor bearing market
Comprehensive information on sensor bearings
Comprehensive information about lucrative emerging markets
In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the sensor bearing market
Sensor Bearing Industry Overview, By End-use Industry
Sensor Bearing Industry Overview, By Functionality
Sensor Bearing Industry Overview, By Application
Sensor Bearing Industry Overview, By Region
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa