Magnetic bearings are devices used to support loads by using magnetic levitation. Some magnetic bearings offer complete non-contact support to an object, whereas others provide partial support with more traditional mechanical bearings. Magnetic bearings are used in applications such as compressors, turbines, pumps, and motors. The global magnet bearing market is expected to grow moderately and register a CAGR of 4.14% over the forecast period. Some of the prominent drivers supporting the growth of global magnet bearing market are cost-effectiveness; energy-efficient flexible solutions; and increasing application in HVAC, aerospace, and defense sectors. However, a slowdown in the Chinese economy is the restraining factor for the magnet bearing market.
For the study, global magnet bearing market has been segmented based on type, voltage, end-user, and region. Based on the type, the market has been segmented into active magnet bearing, passive magnet bearing, and hybrid magnet bearing. Among them, active magnet bearing segment is dominating due to the ability of such bearings to exert higher-density forces on surfaces of supported objects, as compared to the other types. On the basis of application, the magnet bearing market is segmented into compressor, turbine, pumps, motors, generators, and others. Turbines segment is dominating owing to the reason that magnetic bearings when used in turbines, have major technological advantages such as oil-free operation, operation in extreme temperature environments, and active control. On the basis of speed, the market is classified into up to 50,000 rpm, 50,000 to 100,000 rpm, and above 100,000 rpm. Up to 50,000 segment is dominating as magnetic bearings with up to 50,000 rpm are used extensively across various end-use industries for various applications. Based on end-user, the market for magnet bearings is segmented into oil & gas, petrochemicals, power, and others. Power segment is suppressing the market attributing to the fact that magnetic bearings ensure low friction loss, and oil lubricants are eliminated while providing desired reliability. On the basis of region, the market is segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa.
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Key Players
The key players of the global magnet bearing market are Calnetix Technologies (U.S.), Siemens AG (Germany), Waukesha Bearings Corporation (U.S.), Mecos AG (Switzerland), Foshan Genesis (China), Synchrony (U.S.), SKF AB (Sweden), and Celeroton AG (Switzerland), and Schaffer AG (Germany).
Objectives of Global Magnetic Bearing Market Analysis & Forecast, 2017 – 2023
- To provide a detailed analysis of the market structure along with a forecast for the next six years in various segments and sub-segments of the global magnetic bearing market
• To analyze the global magnetic bearing market based on various tools such as Supply Chain Analysis, and Porter’s Five Forces Analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
• To provide country-level analysis of the market with respect to the current market size and prospects
• To provide country-level analysis of the market for segments by installation, voltage, end-user, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the magnetic bearing marketTarget Audience
- Manufactures
• Research Institute & education institute
• Power industry
• Transmission and distribution industry.
• Health, safety, and environmental organizations.
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Key Findings
- The global magnetic bearing market is estimated to reach USD 8,181.7 million by 2023.
• By type, active magnet bearing segment accounted for the largest market with a market value of USD 3,388.9 million, in 2017, progressing at the highest CAGR of 4.48% during the forecast period.
• Based on application, turbine segment dominates the market in 2017, with a market value of USD 1,765.3 million, which is projected to rise at the highest CAGR of 4.93%.
• Based on speed, up to 50,000 rpm segment accounted for the largest market size in 2017, with a market value of USD 3,653.7 million, and is expected to progress at the highest CAGR of 4.33%.
• On the basis of end-user, power segment accounts for the largest market share of USD 2,474.3 million and is expected to progress at the highest CAGR of 4.54%.
• Geographically, Asia Pacific has been projected to have the largest market share of 35.18% in the global magnet bearing market.Regional and Country Analysis of global magnetic bearing market Estimation and Forecast
Geographically, Asia Pacific is the fastest growing region for global magnet bearing market. The region is marked with increasing construction activities along with foreign investment in real-estate development. The region offers lucrative opportunities for global players due to the positive economic development and increasing disposable income. This has spiked the growth of magnetic bearing used in the construction industry in cooling system.
Furthermore, the increased investment and spending in the aerospace & defense sector due to an emphasis on national security and technological advancment are anticipated to boost the growth of the magnetic bearing market for this sector. Asia Pacific has one of the fastest defense sectors and there have been various government programs to bring technological advancement and allocate budget for developments in the sector.
The reports also cover country-level analysis:
Americas
• U.S.
• Canada
• Brazil
Europe
• Germany
• U.K
• France
• Italy
Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
Middle East & Africa
• Middle East
• Africa
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