As per this study the Global Magnetic Bearing Market was valued USD XX.X MN (by revenue) in 2019 and is anticipated to reach USD XX.X MN by 2026 with a CAGR of X.X%.
The magnetic bearing is a type of bearing and an element of a machine which is used to support other moving parts of the machine. Magnetic bearing uses a magnetic field to employ magnetic levitation or magnetic suspension to support loads. Basically, there are three types of magnetic bearing including active, passive and hybrid magnetic bearing. Additionally, magnetic bearings are used in high temperature and high-speed applications, where normal bearings fail. As well as it offers low friction, require less or no lubricant, and can work in a vacuum and without mechanical wear.
The advantages associated with magnetic bearings such as less transportation cost and better supply management is driving the market growth. Rising demand for innovative products consisting of cost-effective and advanced technologies, energy-efficient flexible solutions and high quality is accelerating market growth. In addition to this, increasing use in HVAC, defense and aerospace applications is further boosting the market demand. Additionally, increasing demand in niche markets of healthcare, such as cardiology and ventricular assistant is likely to offer opportunity over the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of magnetic bearing.
The broad magnetic bearing market has been sub-grouped into type, application and end-use. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Active Magnetic Bearing (AMB)
- Passive Magnetic Bearing (PMB)
- Hybrid Magnetic Bearing (HMB)
- Electrical Industry
- Healthcare Industry
- Railway Industry
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for magnetic bearing in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Magnetic Bearing Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the magnetic bearing market include Advanced Motion Controls, Calnetix Technologies LLC, Comsol Inc., Dresser-Rand, KML Motion Industries Co. Ltd., Mecos AG, NSK Europe, Siemens AG, Simply Bearings Ltd. and Waukesha Bearings Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.