Projected to grow at a CAGR of around 7%%%%%%%%%%%%%%%%, the bearings market is to witness a significant growth over the forecast period owing to increasing use of this mechanical component for smooth and proper functioning of machineries and vehicles. It is a major product for industries with heavy machineries and automotive sector. Technological innovations coupled with R&D initiatives in this sector are to fuel the market growth over next eight years.
Bearings provide for relative motion of the machinery with low friction and no wear & tear thereby improving energy efficiency is anticipated to boost the bearings market over the forecast period. Recent advancements in seal technologies and light-weight materials are to drive the market growth in the near future.
Details
- Publication Date
- May 7, 2018
- Language
- English
- Category
- Business & Economics
- Copyright
- All Rights Reserved - Standard Copyright License
- Contributors
- By (author): susan hill
Specifications
- Format