(MENAFN- America News Hour)In a recent published report, Kenneth Research has updated the market report for Instrumented Bearing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Instrumented Bearing Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Instrumented Bearing Market is estimated to reach $165.1 Billion by 2024; growing at a CAGR of 7.5% from 2016 to 2024. A bearing is a machine component that are used to reduce the friction between moving parts and allow the machines to move at higher speed. These bearings are capable of carrying heavy loads with ease and efficiency. Additionally, they are combined with sensors that enables to measure angular position of rotating ring. The information gathered from these sensors are further used in several applications including adaptive cruise control, anti-lock braking system, and others. Bearings are found in a range of applications including airplanes, automobiles, machine tools, refrigerators, ceiling fans, and many others.
The key drivers of the global instrumented bearing market include increasing demand from aerospace and defense sector, rising need for energy efficient solutions, and growing applications. Though, factors such as easy access to low quality products, and falling market of after sales could restrain the market growth. Additionally, advanced technologies could offer opportunities in years to come.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The global instrumented bearing market is categorized as product type, end user, and geography. Product type segment is bifurcated as roller bearings, plain bearings, ball bearings, and others. End user segment includes farm and garden machinery, aerospace equipment, construction machinery, power transmission equipment, automotive, oilfield machinery, and other machineries.
Based on geographical analysis , instrumented bearing market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. While, Rest of the world covers South America, Middle East, and Africa.
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They key players includes JTEKT Corporation, NTN Corporation, Schaeffler Group, The Timken Company, and SKF Group, among others.
The key takeaways from the report:
The report will provide detailed analysis of Global Instrumented Bearing Market with respect to major segments such as product type, and end user
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Instrumented Bearing Market has been included in the report
Profile of the key players in the Global Instrumented Bearing Market will be provided, which include key financials, product & services, new developments, and business strategies
Scope of the Global Instrumented Bearing Market:
Product Type Segments
Roller Bearings
Plain Bearings
Ball Bearings
Other Product Types
End User Segments
Farm and Garden Machinery
Aerospace Equipment
Construction Machinery
Power Transmission Equipment
Automotive
Oilfield Machinery
Other Machineries
Geographical Segment
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Others
Asia Pacific
China
India
Japan
South Korea
Others
RoW
South America
Middle East
Africa
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Table of Contents
Chapter 1 Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
Chapter 3 Market Outline
3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Company's Competitive Scenario
3.3 Market Dynamics
3.3.1 Drivers
3.3.1.1 Impact Analysis
3.3.2 Restraints
3.3.2.1 Impact Analysis
3.3.3 Opportunities
Chapter 4 Global Instrumented Bearing Market by Product Type: Market Size and Forecast, 2015 – 2024
4.1 Overview
4.2 Roller Bearings
4.2.1 Current Trend and Analysis
4.2.2 Market Size and Forecast
4.3 Ball Bearings
4.3.1 Current Trend and Analysis
4.3.2 Market Size and Forecast
4.4 Plain Bearings
4.4.1 Current Trend and Analysis
4.4.2 Market Size and Forecast
4.5 Other Product Types
4.5.1 Current Trend and Analysis
4.5.2 Market Size and Forecast
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