According to a market report by Lucintel, the future of the global bearing for mechanical and electrical product market looks promising with opportunities in the oil & gas, aerospace, mining, power generation, food processing, agriculture, commercial, and automotive markets. The global bearing for mechanical and electrical product market is expected to reach an estimated $152.9 billion by 2030 from $104.2 billion in 2024, at a CAGR of 6.6% from 2024 to 2030. The major drivers for this market are rising adoption of automation in the manufacturing industries and significantly growing automotive sector.
A more than 150-page report to understand trends, opportunity and forecast in bearing for mechanical and electrical product market to 2030 by type (ball bearings, plain bearings, roller bearings, fluid bearings, and others), application (oil and gas industry, aerospace, mining industry, power generation, food processing, agriculture, automotive industry, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecast that ball bearings will remain the largest segment over the forecast period due to its increasing adoption to maintain separation between bearings races, is also used to reduce rotational friction.
Within this market, automotive will remain the largest segment over the forecast period as bearings device is used for the smooth operation of automotive parts and it ensures easy maintenance of vehicles.
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North America will remain the largest region over the forecast period due to presence of highly automated companies in well-developed countries like US and copyright, surge in population growth and growing purchasing power among consumers.
Asahi Seiko, Lufkin Industries, Zebra Technologies, Illinois Tool Works, Luoyang LYC Bearing, RBC Bearings, ABB Group, Koyo Corporation, NTN Bearing Corporation, RKB Bearing Industries are the major suppliers in the bearing for mechanical and electrical product market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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