Global Magnetic Bearings Market 2017-2021

Overview of the global magnetic bearings market

According to Technavio's market research report, the global magnetic bearings market will grow at a CAGR of close to 4% during the forecast period. The growing demand for wind power generation will drive the growth prospects for the market during the predicted period. The rise in environmental concerns across the globe has driven the popularity of wind turbines. Wind turbines are considered to be an efficient means of harnessing alternate energy that helps in the reduction of carbon emissions. Many wind turbine manufacturers are focusing on increasing the rate of power generation by developing high-capacity turbines. They are also designing and manufacturing distinct and durable hybrid wind turbines that can withstand extreme and harsh climatic conditions. This will fuel the need for large special-purpose wind turbine bearings to enhance the performance of these turbines. This will demand the need for increasing the production of advanced magnetic bearings, which will subsequently propel the growth of the magnetic bearings market.

One of the key trends that will gain traction in the magnetic bearings market in the coming years is the growth in the nuclear power sector. Magnetic bearings are increasingly used in various high torque equipment such as turbines and pumps in reactors that are used in the nuclear power sector. The growing need for customized magnetic bearings will encourage many top vendors, regional vendors, and local vendors to develop innovative products and distribute them at lower prices.

Competitive landscape and key vendors

The global magnetic bearings market is characterized by the presence of well-established vendors, several regional, and local vendors and is highly competitive. Several regional and local vendors are increasingly focusing on developing and distributing customized magnetic bearings at process that are comparatively lower than the products offered by their international counterparts. However, they find it difficult to compete with them in terms of quality, features, functionalities, and services. The introduction of products and the incorporation of new features and technologies will strengthen the competitive environment among the market players.

Key vendors in this market are -

• Calnetix Technologies
• MAN Diesel & Turbo
• Schaeffler
• SKF

Other prominent vendors in the market include Celeroton,  Facility EAST GmbH, evico, Foshan Genesis, LCM, Magnetal, Synchrony, and Waukesha Bearings.

Segmentation by product and analysis of the magnetic bearings market

• Active magnetic bearings
• Passive magnetic bearings

The active magnetic bearings are electromagnetic systems that are used to control the position of rotors. This segment dominated the magnetic bearings market during 2016 as these bearings exhibit high speed and take only a few seconds to run at full speed from standby mode. The advanced electronic control in active magnetic bearings helps to adjust the power supply. The magnetic force generated by adjusting the power supply ensures the stability and independent rotation of rotors. Additionally, these magnetic bearings do not require lubrication and can withstand a load capacity of up to 7 bars.

Segmentation by geography and analysis of the magnetic bearings market

• Americas
• APAC
• EMEA

In terms of geographic regions, EMEA accounted for the largest share of the magnetic bearings market during 2016. The region is witnessing a high demand for magnetic bearings from various end-user industries such as oil and gas and power. The power industry in both the developing and developed countries in the region is making huge investments towards renewable energy and the development of substations, which will propel the demand for magnetic bearings from this sector. 

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global magnetic bearings market?
• What are the key market trends impacting the growth of the global magnetic bearings market?
• What are the challenges to market growth?
• Who are the key vendors in the global magnetic bearings market?
• What are the market opportunities and threats faced by the vendors in the global magnetic bearings market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global magnetic bearings market?

Technavio also offers customization on reports based on specific client requirement.

Magnetic bearings are bearings that support loads using magnetic levitation. Magnetic bearings support moving parts in an equipment without any physical contact. For example, these bearings can levitate rotating shafts and permit relative motion with no mechanical wear and low friction. Such bearings support the highest speed when compared with other bearings and have no maximum relative speed. Technavio's reports for the heavy industries industry cover a wide range of product sectors like tools and components and engineering tools. Furthermore, Technavio's reports also furnish a competitive analysis of the dominant vendors in the heavy industries market.

To accurately forecast the tools and components industry's growth outlook, our team of market research experts carry out a comprehensive research of qualitative and quantitative techniques and conduct an extensive analysis of several parameters, including technological innovations and the demand for different products across multiple geographical locations. With an intent to help clients draft new strategies for growth, our upcoming industry research report on the global magnetic bearings market also offers practical insights construed from the data collected from information sources such as manufacturers, decision makers, channel partners, and regulatory bodies.  

This upcoming report on the global magnetic bearings market also takes into account the growth of similar markets such as the roller bearings and anti-friction bearings, which are forecasted to grow at a CAGR of almost 4% each, during 2017 to 2021. According to our market research analysts, increase in demand for pumps and compressors will augment the growth of the tools and components industry for the next few years.

This upcoming industry research report for the global magnetic bearings market also identifies the market drivers, trends, and the hurdles faced by the heavy industries market industry and gives insights into test and measurement and unit operations segments.