Global Sensor Bearing Market, By Functionality (Speed, Temperature, Vibration, Displacement, Other),

Published Date: | Report Code : EQ1958578

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The Sensor Bearing Market growth is expected to gain high momentum during the forecast period due to Increasing demand for end-use sensor bearings.

Due to the influx for sensor applications such as material handling, ABS, electric motors and so on, demand for sensor bearings has risen consistently over the years. Sensor bearings were launched in cars in the mid-1980s with the anti-locking braking system (ABS). As bearing systems developed, bearing sensors were phased out of design to provide wheel velocity information for traction control in favor of active wheel speed sensors.

Speed sensor bearings are mostly used in automotive vehicle ABS systems. Currently, in the ABS schemes, more than 90% of cars plying on highways are fitted with wheel velocity sensors. In addition, since 2011 and 2014, the installation of ABS and ESC devices in passenger vehicles has been compulsory for the US and some Member States of the European Union, resulting in increased demand for sensor bearings in these nations.

Key Factors Impacting Market Growth:

  • Increasing demand for lifespan, higher efficiency and lower maintenance requirements

  • Increasing demand for end-use sensor bearings

  • Growing demand for equipment for off-road and material handling

  • Fluctuating prices of raw material

Regional Outlook:

Major regions for sensor bearing market are estimated to North America, Western Europe, and Asia Pacific. North America and Western Europe have been traditional markets for sensor bearing owing to strong presence of industrial sector. The industrial sector has been one of the key contributors to the economies in these regions. Major industries in these regions are estimated to be Automotive, Transportation, Metal & Mining. These industries have an established base resulting in stable market demand. Moreover, most of these industries have been witnessing transition in terms of product development and production methods. These factors are expected to drive the demand for sensor bearing market in the North America and Western Europe region. Major markets by country in these regions include US, Germany, France, UK, Canada, Spain, and others. Asia Pacific and Middle East region has witnessed tremendous growth of the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest growing economies including China and India have been major markets for various end-use industries including building & construction, automotive, healthcare, manufacturing, and so on. Among these industries, Automotive, Transportation, Metal & Mining are estimated to register high demand for sensor bearing market during the forecast period. On the other hand, Middle East region has witnessed diversification in terms of industrial outlook in recent decades. UAE, Saudi Arabia, Qatar, and others have been instrumental in promoting development of various industries including building & construction, pharmaceuticals, automotive, and so on. This is expected to drive the growth of sensor bearing market directly or indirectly in the region. Eastern Europe consisting of Russia and Turkey promises a stable demand for sensor bearing market during the forecast period. Rest of the World including South America and Africa are estimated to be a developing market with strong potential in strategic future.

Companies Covered: SKF, Schaeffler Technologies AG & Co. KG, NTN Corporation, Timken, NSK Corporation, JTEKT Corporation, ABB Group, Mageba SA, BRTEC, ABB Group, Fersa Bearing SA, and Nachi Europe GmbH

Market Segmentation:

By Functionality:

  • Speed

  • Temperature

  • Vibration

  • Displacement

  • Other

By Applications:

  • ABS

  • Material Handling Equipment

  • Electric Motors

  • Others

By End Users:

  • Automotive

  • Transportation

  • Metal & Mining

  • Aerospace & Defense

  • Oil & Gas

  • Others

By Region:

  • North America

    • By Country (US, Canada, Mexico)

    • By Functionality

    • By Applications

    • By End Users

  • Western Europe:

    • By Country (Germany, UK, France, Spain, Rest of Western Europe)

    • By Functionality

    • By Applications

    • By End Users

  • Eastern Europe:

    • By Country (Russia, Turkey, Rest of Eastern Europe)

    • By Functionality

    • By Applications

    • By End Users

  • Asia Pacific

    • By Country (China, Japan, India, Rest of Asia Pacific)

    • By Functionality

    • By Applications

    • By End Users

  • Middle East:

    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)

    • By Functionality

    • By Applications

    • By End Users

  • Rest of the World

    • By Region (South America, Africa)

    • By Functionality

    • By Applications

    • By End Users

Reasons To Buy This Report:

  • Market size estimation of the sensor bearing market on a regional and global basis

  • Unique research design for market size estimation and forecast

  • Profiling of major companies operating in the market with key developments

  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment

  • By Sub-segment

  • By Region/Country

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