Magnetic Bearing Market to Reach US$ 3 Bn by 2031; Growing Preference for Oil-free Technologies for High-speed and Low-vibration Industrial Applications: TMR Study

Magnetic Bearing Market to Reach US$ 3 Bn by 2031; Growing Preference for Oil-free Technologies for High-speed and Low-vibration Industrial Applications: TMR Study

PR Newswire

ALBANY, N.Y., Jan. 10, 2022

-  Growing preference of magnetic bearing centrifugal chillers to drive revenue gains to manufacturers in magnetic bearing market

-  Innovations in magnetic bearing systems such as contactless technologies reduce the carbon footprint in aerospace & power generation applications

ALBANY, N.Y., Jan. 10, 2022 /PRNewswire/ -- Manufacturers and distributors of magnetic bearings are capturing revenues from the preference of oil-free bearing and low-maintenance bearing designs. These are gaining adoption in high-speed industrial applications especially in aerospace and power industries. A study by TMR projects the opportunities in the magnetic bearing market to advance at CAGR of 5.7% during the forecast period of 2021-2031.

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Magnetic bearings along with their drive technologies boost the performance of centrifugal chillers, and are offering value-grab revenue opportunities, observed the study on the magnetic bearing market. The demand for bearings that are characterized with low-maintenance technologies and high energy efficiency is bolstering the sales prospects.

The introduction of refrigerants with low global warming potential has helped end users optimize the performance of magnetic bearing centrifugal chiller, thereby extending the value chain of the magnetic bearing market landscape. The demand for new technologies in automated drive solutions is opening new avenues in near future, finds the study on the magnetic bearing market.

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Key Findings of Magnetic Bearing Market Study

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Magnetic Bearing Market: Key Drivers

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Magnetic Bearing Market: Regional Dynamics

Magnetic Bearing Market: Key Players

The study on the magnetic bearing market provides a detailed scrutiny of the competition landscape and the strategies of key players. Top players are keen on tapping new revenue streams by expanding their presence in new geographies. Some of the companies profiled in the study are:

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Global Magnetic Bearing Market: Segmentation

Magnetic Bearing Market, by Type

Magnetic Bearing Market, by Application

Magnetic Bearing Market, by End-use

Magnetic Bearing Market, by End-use vs Application

Magnetic Bearing Market, by Region

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