According to a recent survey published by FMI, the global Thrust Bearings market is expected to grow at a healthy CAGR during the forecast period between 2018 to 2028. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of Thrust Bearings over the coming decade.
Advent of Industry 4.0 Technology to Create New Growth Avenues for the Thrust Bearings Market
Industrial sector is witnessing revolution as manufacturers across the world are extensively emphasizing towards adopting incorporating advanced automation, This is commonly being referred to as Industry 4.0.
With the emergence of industry 4.0, manufacturing facilities are emphasizing on adopting novel technologies such as artificial intelligence, smart manufacturing, internet of things (IoT), and machine learning among others. This is expected to create lucrative growth opportunities in the Thrust Bearings market.
Additionally, increasing government emphasis building a better manufacturing sector and integration of augmented and virtual reality using smart equipment to enhance the output is estimated to propel the demand in the market for coming years.
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Key Thrust Bearings Market Takeaways and Projections
- The U.S. is estimated dominate the Thrust Bearings market in North America, accounting for the largest share in the region through 2022.
- Germany is projected to account for a significant share in the Europe market over the assessment period.
- China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2018 to 2028
- India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
Report Benefits & Key Questions Answered
- Thrust Bearings Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
- Thrust Bearings Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Thrust Bearings As per the survey, Thrust Bearings sales will project steady growth over the forecast period.
- Thrust Bearings Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Thrust Bearings.
- Thrust Bearings Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.
Competitive Landscape Analysis:
The global thrust bearings market is assessed to be a fairly consolidated market, with some of the major brands holding highly developed sales and distribution network. Some of the examples of market participants identified across the value chain of the thrust bearing market are SKF AB, Schaeffler Group, THK Company Limited, NSK Limited, JTEKT Corporation, Nachi-Fujikoshi Corporation, RBC Bearings Incorporated, Timken Company, Luoyang Lyc Bearing Company Limited, Federal-Mogul Holdings Corporation, European Bearing Corporation, etc.
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Thrust Bearings Market: Segmentation
Thrust bearing are available in different bore diameters, outer diameters, dynamic and static load ratings. The thrust bearing market can be segmented as follows:
By Type
- Ball Thrust Bearing
- Single Direction
- Double Direction
- Cylindrical Roller Bearing
- Spherical Roller Thrust Bearings
- Tapered Roller Thrust Bearing
By Series Type
- Extra light
- Light
- Medium
- Heavy
By Cage Type
- Steel Cage
- Brass Cage
By Sales Type
- OEMs
- Aftermarket
By Application
- Manufacturing & Metal Processing
- Plastic Processing Machines
- Food Processing Industry
- Oil & Gas
- Automotive & Locomotive
- Aerospace
- Pumps and Compressors
- Mining Machines (Crushers) & Earth Moving Equipment
- Consumer Appliances
- Others
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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