U.S.-based
market research and intelligence firm Transparency Market Research
has recently announced the publication of a new market research
report. The research report is titled “Bearing Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 -
2020”. According to the research report, in 2013, the global
bearing market stood at US$75.91 billion and is projected to touch
US$118.21 billion by the end of 2020, growing progressively at a 7.7%
CAGR between 2014 and 2020.The increasing production of vehicles
across the globe, need for energy efficiency, and the rising demand
for bearings from the aerospace and defense industries are some of
the factors boosting the demand for bearings in the forecast period.
However, rise in counterfeit products is one of the restraints
expected to hamper the growth of this market in the near future.
Browse
the full Bearing Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2014 - 2020 report at
http://www.transparencymarketresearch.com/bearing-market.html
The
research report has segmented the global bearing market on the basis
of products, which are roller bearings, plain bearings, unmounted
ball bearings, and others. In 2014, the unmounted ball bearings
segment led the global bearing market totaling US$33.38 billion and
is anticipated to remain high between 2014 and 2020. The rising
demand for unmounted ball bearing is due to its diverse range of
application, including automotive wheels, consumer durables, hard
drives, railway coaches, and motor engines. On the basis of
components, the global bearing market has been categorized into
rings, cages, rollers, balls, and others. Among all these components,
the balls segment held the largest share of the global bearing
market, which was further followed by the rollers segment.
The
global bearing market was further segmented according to their end
use, which are construction machinery, oilfield machinery, aerospace
equipment, farm and garden machinery, motor vehicles, and power
transmission equipment. In 2014, the motor vehicles segment dominated
the global bearing market by accounting for US$38.68 billion. The
aerospace equipment segment is estimated to grow rapidly in the
forecast period, exhibiting a CAGR of 8.5% between 2014 and 2020.
The
global bearing market has been geographically segmented into North
America, Asia Pacific, Europe, and Rest of the World. In 2014, Asia
Pacific dominated the global bearing market and is anticipated to
continue as the market leader through the forecast period. The
dominance of Asia Pacific can be attributed to the rising production
of automobiles in several countries such as India, South Korea,
China, and Japan. In addition, the rapid industrialization in Asia
Pacific is also boosting demand for bearings. Asia Pacific is
followed by North America and Europe, who collectively held more than
40% of the global market share in terms of revenue.
Some
of the prominent players in the global bearing market mentioned in
the report are Brammer PLC, Rexnord Corporation, Schaeffler Group,
NTN Corporation, SKF Group, Wafangdian Bearing Co. Ltd, NSK Ltd.,
JTEKT Corporation, C&U Group, and The Timken Company.
Request
a Sample of this Report :
http://www.transparencymarketresearch.com/sample/sample.php?flag=s&rep_id=1647
About
Us
Transparency
Market Research (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.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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