Sensor Bearing Market by Functionality (Speed, Temperature, Vibration, Displacement), Application (ABS, Material Handling Equipment, Electric Motors), End-use Industry (Automotive, Transportation, Met

Sensor Bearing Market by Functionality (Speed, Temperature, Vibration, Displacement), Application (ABS, Material Handling Equipment, Electric Motors), End-use Industry (Automotive, Transportation, Met

Published: January 2019
Publisher: MarketsandMarkets
Product ref: 300021
Pages: 180
Format: PDF
Delivery: By product vendor

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The sensor bearing market is projected to reach USD 6.5 billion by 2023 from USD 5.1 billion in 2018, at a CAGR of 5.2% between 2018 and 2023. The major factors driving the sensor bearing market are increasing demand for sensor bearings from end-use industries, such as automotive and transportation, and enforcement of stringent regulations related to the mandatory installation of ABS systems in cars in various Asia Pacific and European countries.

Based on functionality, the speed functionality segment is expected to be the largest
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 2011 and 2014, respectively, thereby leading to the increasing demand for sensor bearings in these countries

Based on application, the ABS segment is projected to be the fastest-growing application segment
The ABS application segment of the sensor bearing market is expected to grow at the highest CAGR during the forecast period. The growing demand for ABS systems from automotive OEMs in countries, such as China, India, Japan, Germany, and the US is expected to lead to the growth of this segment.

Asia Pacific region is projected to grow at the highest CAGR in the sensor bearing market
The Asia Pacific region is projected to grow at the highest CAGR in the global sensor bearing market. The sensor bearing market in Europe is expected to witness significant growth on account of the increasing demand for sensor bearings from end-use industries, such as automotive and transportation, and the enforcement of stringent regulations related to the mandatory installation of ABS systems in automotive vehicles in various Asia Pacific countries, such as India, Japan, and China.

Profile break-up of primary participants for the report:
• By Company: Tier 1 – 53 %, Tier 2 – 21%, Tier 3 – 26%
• By Designation: C level – 33%, Director level – 22%, Others – 45%
• By Region: North America – 50%, Europe – 17%, Asia Pacific – 25%, Middle East & Africa – 3%, and South America – 5%

Research Coverage:
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 micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market.
It also discusses the competitive strategies adopted by various market players, such as SKF (Sweden), Schaeffler Technologies AG & Co. KG (Germany), NTN Corporation (Japan), Timken (US), NSK Corporation (Japan), JTEKT Corporation (Japan), ABB Group (Switzerland), Mageba SA (Switzerland), BRTEC (China), ABB Group (Switzerland), Fersa Bearing SA (Spain), and Nachi Europe GmbH (Germany).

Key benefits of buying the report:
From an insight perspective, this research report has focused on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the sensor bearing market, high-growth regions, and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on sensor bearings offered by top players in the sensor bearing market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the sensor bearing market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for sensor bearings across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the sensor bearing market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the sensor bearing market

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