This Magnetic Bearing market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Magnetic Bearing market.
A bearing is an element of a machine generally used to support other moving parts of the machine. While carrying any load, it helps in the relative movement between the connecting surfaces of the machine. Majority of the bearings are used to support the rotating shaft of the machine by holding it either radially or axially. Similarly, a magnetic bearing supports the load using magnetic levitation, without physical contact. A shaft is radially surrounded by magnets, which allow the shaft to spin in the air by levitation – this is the basic working principle of a magnetic bearing. Additionally, magnetic levitation is a method where magnetic force acts as a counter force to the effect of gravitational and other forces.
Magnetic bearings are mainly of three types, namely active magnetic bearings, passive magnetic bearings, and hybrid magnetic bearings. An active magnetic bearing offers friction free, clean, efficient and reliable operation, and eliminates many other components of the machine. These magnetic bearings employ only electromagnets and are used in high speed rotating machines. On the other hand, hybrid magnetic bearings use a combination of electromagnets and permanent magnets for performing the operations.
A passive magnetic bearing offers contact-free magnetic levitation with the help of repulsive and attractive forces of permanent magnets. Also, according to configuration, a PMB supports tilt, axial and radial direction of stabilization. As these magnetic bearings do not require actuators or power electronic components, they are available in a comparatively small size and at a low price. Also, passive magnetic bearings cannot be used in the axial direction, and hence they are less commonly used.
Magnetic bearings offer low friction, require less or no lubricant, and can work in vacuum and without mechanical wear. They are used in high temperature and high-speed applications, where normal bearings fail. However, it is important that there must be no friction, for efficiency in operation and safety reasons.
Magnetic Bearing Market: Dynamics
Magnetic bearings offer reduced transportation cost and better supply management. These advantages propel the demand for this market, and hence act as key drivers for the industry. Additionally, the rising demand for innovative products, such as cost-effective and advanced technologies, energy-efficient flexible solutions and high quality can also be considered as the drivers for the industry. Increasing use of magnetic bearings in HVAC, defense, and aerospace applications is providing several avenues for growth of the magnetic bearing industry.
Increasing demand in niche markets of healthcare, such as cardiology and ventricular assistant can prove to be opportunities for the industry. The manufacture of generators, motors, and turbines with improved speed, efficiency and services are identified as notable trends in the magnetic bearing market.
Magnetic Bearing Market: Regional Outlook
Asia Pacific dominates the market for magnetic bearings with a comparatively high market share, followed by North America. However, China and North America, together hold over half the market share. Also, the Middle East and Africa hold significant market shares after Asia Pacific, followed by Western Europe. The increasing demand for industrialization and construction, and the rising application of magnetic bearings in the cardiology sector of healthcare are expected to act as drivers for the market.
Few countries in Europe are adopting off-grid power systems, which increases the demand for magnetic bearings. Therefore, a substantial increment can be expected in the market share of magnetic bearing. The sales of the magnetic bearings is expected to grow significantly in some regions, such as the Middle East & Africa and Asia Pacific over the forecast period.
Magnetic Bearing Market: Market Participants
Examples of some of the market participants in the magnetic bearing market, identified across the value chain are: Siemens AG, Dresser-Rand, Waukesha Bearings Corporation, Calnetix Technologies LLC, Advanced Motion Controls, Comsol Inc., Mecos AG, Simply Bearings Ltd., NSK Europe, KML Motion Industries Co. Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
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Magnetic Bearing Market: Segmentation
Segmentation of the magnetic bearing market on the basis of type:
- Active magnetic bearing (AMB)
- Passive magnetic bearing (PMB)
- Hybrid magnetic bearing (HMB)
Segmentation of the magnetic bearing market on the basis of application:
Segmentation of the magnetic bearing market on the basis of end-use industry:
- Electrical industry
- Healthcare industry
- Railway industry
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Magnetic Bearing Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Magnetic Bearing Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Magnetic Bearing Market report?
In addition to up-to-date market figures and customized of the Magnetic Bearing Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.