Instrumented Bearing Market Industry trends Estimation & Forecast 2016–2024

- 29 Dec 2017 01:05 PM IST

The global instrumented bearing market was valued at $92.7 billion in 2016 and is projected to reach $164.84 billion by 2024, growing at a CAGR of 7.6% during the forecast period of 2017-2024.The ball bearing segment generated the highest revenue share, accounting for more around 50% of in the global instrumented bearing market in 2016.

Market Segmentation

The instrumented bearing market is segmented on the basis of product type, end user, and geography. By product type, the market is segmented into ball bearings, plain bearings, roller bearings and others. By end user, the market is segmented as automotive, aerospace equipment, power transition equipment, construction machinery, farm and garden machinery, oil field machinery and other machinery. Geographically, the market is segmented as North America, Europe, Asia Pacific and Rest of World. Ball bearing market generated the highest revenue in 2016 and is expected to grow at a CAGR of 7.4% during the forecast period.

Some major market players are SKF Group, Schaeffler Group, The Timken Company, NTN Corporation, JTEKT Corporation, NSK Ltd., and others. Top six players in the industry accounted for more than 80% of the market in 2016.

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By product type

• Ball bearings
• Plain bearings
• Roller bearings
• Others

By End User

• Automotive
• Aerospace equipment
• Power transition equipment
• Construction machinery
• Farm and garden machinery
• Oilfield machinery
• Other machinery

By Geography

• North America
• Europe
• AsiaPacific
• Rest of World


• SKF Group
• Schaeffler Group
• The Timken Company
• NTN Corporation
• JTEKT Corporation
• NSK Ltd
• Others

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