Indian Bearing Ring Market - Forecast(2021 - 2026)
A Bearing is a mechanical device designed to enable rotational or linear movement by reducing friction. These devices are also used to carry loads and guide moving parts in heavy machinery and equipment. The manufacturing of a Bearing includes integration of rolling elements such as balls and rollers between an inner and an outer Bearing ring.
This report on Bearing rings segmented the market by type and end user. The market is further segmented by type Bearing rings with teeth gears and without teeth gears. Bearing rings are used in various end use industries such as medical, oil & gas, automotive, aerospace and defense, transportation and others. Aerospace and defense industries deploy Bearing rings in radar antennas, combat tanks and other communication equipment.
The development of high wear resistance and corrosion resistive Bearing rings is likely to be the major driving factor for growth of the market. The rapid penetration of robotics and automation is also driving the market to grow at a healthy rate. However, the wear of these devices with sudden load changes and varying operating temperatures is hindering the growth of the market particularly in wind power generation, oil & gas exploration and other industries. The Key players in the market include Schaeffler Technologies AG & Co. KG (Germany), Rotek, Inc (U.S.), AKSH Manufacturing Pvt Ltd (India) and NRB Industrial Bearings Ltd. (India)
The research methodology followed in estimating the Indian Bearing Ring Market involved demand in various applications. The segmentations have been cross-mapped extensively to understand various market dynamics. Simultaneously, the companies involved at integration and distribution level were also studied from the perspective of their services, geographical presence, annual turnover and few other parameters to substantiate the estimations. All these estimations were further validated through primary research and industry experts.
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