Mounted Bearing Market worth $1.9 billion by 2025

1. MarketsandMarkets Presents • Mounted Bearing Market worth $1.9 billion by 2025 https://www.marketsandmarkets.com/Market-Reports/mounted-bearing-market-227619352.html

2. The report, Mounted Bearing Market size is projected to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 5.8%. Mounted units provide a multitude of application and service options to end users. A mounted unit is typically a ball or roller bearing set into a housing. These units can be designed for standard ball bearings, roller bearings, and even split bearings that allow easier mounting. They are primarily employed in both, light- and heavy-duty industries ranging from construction and mining to conveyors on a food processing line. Browse 100 market data Tables and 92 Figures spread through 211 Pages and in-depth TOC on "Mounted Bearing Market” The COVID-19 pandemic is expected to have slight impact on the mounted bearing market. Mounted bearings have huge potential in the process industry, paper industry, and furniture industries. Companies such as Greenply, Action Tesa and Asahi Glass are immensely reliant upon mounted bearing for material transfer and handling. Impact of COVID-19 will be higher on bigger bearings and lower on smaller bearings since the production and sales in discrete industries like cement, mining, etc. have been slow lately due to lockdowns all around the world. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227619352

3. Asia Oceania is expected to be the largest market during the forecast China is the largest automobile market in the world. OEMs such as Toyota, Honda, Volkswagen, Daimler, and Nissan have large-scale production bases in the country. Increasing focus on innovation has encouraged OEMs to address a wide array of consumer preferences in the region. Growing focus on infrastructure developments to accommodate the growing population would represent a suitable business environment for manufacturers in the steel, cement, and metal processing sectors. As a result, industrial machinery producers would witness major growth opportunities post 2020 as the economy in the region rebounds. Food & beverage segment is expected to have the largest market during the forecast Food & beverage industry is estimated to be the largest market of mounted bearing by end-use industry type owing to the sustainable growth of the industry, the increasing adoption of equipment, and growing automation in food processing and packaging. Equipment such as gearbox & transmission, fans & blowers, conveyors, and mixer drives are used in the food processing & packing industry. The demand for such equipment is expected to grow owing to the increasing automation, development of advanced equipment, and efforts to increase production efficiency and reduce errors in the food & beverage industry. Customized or specific mounted bearings are widely used in the food & beverage industry.

4. Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=227619352 The global mounted bearing market is dominated by major players such as SKF (Sweden), Schaeffler (Germany), THE TIMKEN COMPANY (US), NSK (Japan), and ABB (Switzerland). Ball bearing segment is expected to be the fastest growing market during the forecast period Mounted ball bearings are composed of rolling elements that separate the inner and outer rings of a bearing. These bearings enable smooth operation, high-speed motion, and reduced friction and can sustain both, radial and axial loads. Mounted ball bearings are developed for varying applications, load types, and speeds. The mounted ball bearings segment is projected to grow at a significant rate in the coming years. Asia Oceania is projected to be the largest and fastest-growing regional market during the forecast period. The growth of the market here is driven by sustainable growth in the food & beverage and agriculture industries.

5. Opportunity: Increasing development and adoption of sensor-based bearing unit and IoT Sensors are essential in industrial automation as well as motion control systems. They are the vital link between the data collected through physical systems and the communication link that transmits data to the monitoring facilities or cloud. Sensors are used to keep a check on the performances of bearings, as failed bearing could lead to costly downtime. The IIoT (Industrial IoT) sensor is a complex combination of software and hardware. IIoT sensors could be used as acoustic and chemical sensors to liquid levels and temperature monitoring sensors. Proximity sensors are another type, which is mounted onto bearings. IoT sensors are not limited to the collection and sending of data but include processing and decision-making functions as well. This added function saves engineering time as well as cost. Major bearing manufacturers are shifting toward sensor-based mounted bearings, which are expected to enhance early detection of bearing malfunction and monitor performance. ABB is one of the top players in the mounted bearing market. It offers ABB Ability Smart Sensor, an easy-to-use, wireless sensor that monitors the health of ABB Dodge mounted bearings, allowing users to reduce downtime, improve reliability, and operate safely. Warnings on decreasing the health status of mounted bearings allow maintenance before there is a problem, and the system is down To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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