Lewes, DE -- (SBWire) -- 06/23/2017 --Report forecast the global Magnetic Bearings market to grow at a CAGR of 3.61% during the period 2017-2021.
Magnetic bearings are bearings that support loads using magnetic levitation. Magnetic bearings support moving parts in equipment without any physical contact. For example, these bearings can levitate rotating shafts and permit relative motion with no mechanical wear and very low friction. Magnetic bearings are bearings that support the highest speed when compared with other bearings and have no maximum relative speed.
The report covers the present scenario and the growth prospects of the global Magnetic Bearings market for 2017-2021. To calculate the market size, the report considers the demand for magnetic bearing from various end-user applications. The average price of different types of magnetic bearings has been taken into consideration for estimating the market revenue.
The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
According to the report, one of the major drivers for this market is growing demand for wind power generation. Wind turbines are a valuable and efficient means of harnessing alternate energy and help in minimizing carbon emission. Wind turbine manufacturers are developing high-capacity turbines to increase power generation. In addition, manufacturers are developing distinct and durable hybrid wind turbines to withstand extreme climatic conditions. This has directly led to the development of large special-purpose wind turbine bearings, thus increasing the performance. Hence, wind energy is one of the key growing markets for industrial bearings globally. The current trend is to shift toward eco-products and the bearings industry must also adapt accordingly.
Further, the report states that one of the major factors hindering the growth of this market is slowdown in Chinese economy. The recent slowdown that the Chinese economy has been experiencing will have an adverse effect on the magnetic bearings market. As per the World Bank, the Chinese GDP grew at only 6.9% in 2015, which was the slowest recorded since 1990. The slowdown is mainly attributed to the sluggish performance of the country's real estate sector.
Global Magnetic Bearings Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global magnetic bearings market: Calnetix Technologies, MAN Diesel & Turbo, Schaeffler, and SKF.
Other Prominent Vendors in the market are: Celeroton, Facility EAST GmbH, evico, Foshan Genesis, LCM, Magnetal, Synchrony, and Waukesha Bearings.
Market driver
- Growing demand for wind power generation
- For a full, detailed list, view our report
Market challenge
- Slowdown in Chinese economy
- For a full, detailed list, view our report
Market trend
- Growth in the nuclear power sector
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 72 pages "Global Magnetic Bearings Market 2017 - 2021" report covers Executive summary, Scope of the report, Research Methodology, Introduction, Market landscape, Market segmentation by product, Geographical segmentation, Decision framework, Drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
Please visit this link for more details: http://www.marketresearchreports.com/technavio/global-magnetic-bearings-market-2017-2021
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