Sensor bearings are mechatronic machine components, which integrate the functions of a bearing and sensor unit. Sensor bearings are high performance, compact, robust, reliable, simple, and ready-to-mount ball bearings used in to measure the number of revolutions, speed, direction of rotation, temperature, vibrations, displacement, relative position, acceleration or deceleration, and other parameters in critical rotating applications such as AC servo motors, DC servo motors, hydraulic motors, and industrial machinery. Sensor bearing units reduce warranty costs, improve up-time, increase service life, and lower maintenance costs in electric motors, material handling, and other industrial equipment.
Global Sensor Bearings Market: Trends & Developments
Ascend in use of AC engines in a wide scope of mechanical applications has supported the interest for exact observing of speed and bearing of pivoting components, even in testing conditions. Appearance of new age of sensor bearings that can meet intense working conditions and convey superior at lower working expenses is required to drive the worldwide sensor bearing business sector during the figure time frame. Architects are creating sensor bearings that can be effectively incorporated into end-client structures while offering high dependability, decreased requirement for upkeep, and lower working expenses. Development in the worldwide sensor bearing business sector can be attributed to the expansion sought after for sensor bearings utilized in antilock breaking frameworks (ABS) in the car business.
Global Sensor Bearings Market: Segmentation
Based on functionality, the global sensor bearings market has been segmented into speed, temperature, vibration, displacement, and others. Sensor bearings with speed functionality account for the major share of the global sensor bearing market. They are primarily used in the ABS systems of automotive vehicles. The U.S. and some member countries of the European Union have enacted stringent regulations, making the installation of ABS and ESC systems mandatory in passenger vehicles since 2011 and 2014, respectively. This has boosted the demand for sensor bearings in these countries. The temperature segment also hold key share of the market due to the rise in demand for sensor bearings in the railways industry. Demand for sensor bearings used to monitor temperature is rising in applications such as wind turbines, gearboxes, and engines that carry the risk of overheating.
Global Sensor Bearings Market: Regional Outlook
In terms of region, the global sensor bearings market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The sensor bearings market in Asia Pacific is expected to expand at a significant pace owing to the high demand for sensor bearings in the automotive sector. Countries such as China and India in Asia Pacific have emerged as major hubs of automobile production, as automobile manufacturers and OEMs have set up their production facilities in these countries. Rise in vehicle ownership in developing economies such as China, Indonesia, India, and Vietnam is anticipated to drive the automobile market, subsequently propelling the sensor bearing market. The sensor bearings market in Europe is estimated to expand at a significant pace in the near future, led by the rise in demand for sensor bearings in end-use industries such as automotive and transportation.
Global Sensor Bearings Market: Key Players
Key players operating in the global sensor bearings market include Thomson Industries, Inc. Fersa Bearings, Schaeffler Technologies AG & Co. KG, WAFANGDIAN BEARING GROUP CORP.LTD., THE TIMKEN COMPANY, mageba, JTEKT Corporation, NSK Ltd., BRTEC WHEEL HUB BEARING CO. LTD., ABB, Nachi Europe GmbH, NTN Corporation, Harbin Bearing Manufacturing Co., Ltd., and AB SKF.