Global Plain Bearing Market – Industry Trends and Forecast to 2024

Market Definition: Global Plain Bearing Market

Bearings are components made with high precision which enable machines to move at high speeds or carry heavy loads with efficiency. There are several types of bearings such as roller bearing, plain bearing jewel bearing and fluid bearing among others. There is a growing demand for plain bearings in automotive, industrial, aerospace, energy, construction machinery, agricultural & gardening equipment, oilfield machinery sectors which is expected to be one of the major drivers of the market over the next seven years.

Market Analysis: Global Plain Bearing Market

The Global Plain Bearing Market accounted for USD 11.53 billion in 2016 and is projected to grow at a CAGR of 4.6% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Major Market Drivers: 
  • Increasing demand for plain bearings from end users
  • Cost-effective production of plain bearings in Asia-Pacific
  • Advantage of plain bearings in the automotive sector
Market Restraint:
  • Increasing life span of bearings due to technological innovations

Market Segmentation: Global Plain Bearing Market

The plain bearing market is segmented on the basis of type into journal, linear, thrust, and angular contact.

Major Market Competitors: Global Plain Bearing Market

Some of the major players in plain bearing market include Boston Gear LLC, GGB Bearing Technology, IGUS, Kashima Bearings, Inc., Minebea Mitsumi Inc., NSK Ltd., NTN Corporation, PBC Linear, RBC Bearings Incorporated, SGL Group, SKF Group, Schaeffler Technologies Ag & Co. KG, THK Co., Ltd., Thomson Industries, Inc., Timken Company, Zollern GmbH & Co. KG and many more.
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