Sensor Bearing Market was valued at US$ 7.48 Bn. in 2022. Global Sensor Bearing Market size is estimated to grow at a CAGR of 7.2% over the forecast period.

Sensor Bearing Market Overview:

The purpose of this study is to provide a thorough examination of the Sensor Bearing market by component, application, industry, and geography. The study goes into great detail on the primary factors influencing the Sensor Bearing market's growth. The study also offers a comprehensive analysis of the market's value chain.

Market Scope:

The research method used to assess and anticipate the Sensor Bearing market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segmentation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Sensor Bearing market was calculated using the revenue of significant enterprises.

Segmentation:

By Functionality

The speed, temperature, vibration, displacement, and others segments of the sensor bearing market are defined. In 2022, the Speed segment accounted for 56% of the market, which was the highest proportion. The rise of the speed segment is being driven by the growing usage of sensor bearings to detect the rotational speed of rotating shafts and wheels. Ninety percent of cars have wheel speed sensors. Additionally, since 2011 and 2014, the US and other EU members have mandated the use of ABS and ESC systems in passenger cars, increasing the demand for sensor bearings.

By End-Use Industry

Material Handling Equipment, Electric Motors, ABS, and Others are the market segments. In 2022, the ABS sector had the most market share (41%). The ABS control systems determine when anti-lock braking is necessary. Due to rising demand for vehicles with anti-lock brakes in industrialised nations, the ABS segment of the market is expanding. Additionally, since 2011 and 2014, the United States and a few European Union members have made it mandatory for cars to have ABS and ESC systems. As a result, the ABS segment is also expanding.

1. Global Sensor Bearing Market Size, by Functionality (2022-2029)
• Speed
• Temperature
• Vibration
• Displacement
• Others

2. Global Sensor Bearing Market Size, by End-Use Industry (2022-2029)
• Material Handling Equipment
• Electric Motors
• ABS
• Others

3. Global Sensor Bearing Market Size, by Application (2022-2029)
• Aerospace & Defense
• Transportation
• Metal & Mining
• Automotive
• Oil & Gas
• Others

 

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Key Players:

The major players covered in the Sensor Bearing market report are

1. Harbin Bearing Manufacturing Co., Ltd
2. Schaeffler Technologies AG & Co. Kg
3. Wafangdian Bearing Co. Ltd
4. The Timken Company
5. ABB Group
6. NTN Corporation
7. Jtekt Corporation
8. Fersa Bearings
9. Mageba SA
10. NSK Corporation
11. Nachi Europe GmbH
12. Homson Industries Inc
13. BRTEC
14. SKF

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Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

COVID-19 Impact Analysis on Sensor Bearing Market:

Aerospace and defence, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 epidemic. COVID-19 has had an impact on the Sensor Bearing market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spreads. Our most recent inquiry, opinions, and bits of knowledge on administration are critical to the businesses and associations in the Sensor Bearing industry, which is driving through the COVID-19 emergency to handle risk digitising jobs in order to convey trusted data and experiences to the CEOs.

Key Questions Answered in the Sensor Bearing Market Report are:

  • Which segment grabbed the largest share in the Sensor Bearing market?
  • How was the competitive scenario of the Sensor Bearing market in 2020?
  • Which are the key factors responsible for the Sensor Bearing market growth?
  • Which region held the maximum share in the Sensor Bearing market in 2020?

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