a quick update on the global bearing market industry
A Quick Update On The Global Bearing Market Industry
The global automotive turbocharger bearings market is on a rise, with a compound annual growth rate of 10.15% during the four years. The report has been arranged based on an in-depth market analysis from industry experts. The bearing industry has experienced tremendous growth and it will not stop any time in the near future. The report includes the market landscape and the baring industry growth over the next few years. It also includes discussion regarding the key vendors that are currently operating in the bearings industry. A big trend in the current market is antifriction automotive turbocharge bearings. The main reason that turbocharger bearings wear is because of the amount of friction that they encounter.
The friction over time causes elastic deformation, which ends up permanently damaging bearings. According to reports, a driver in the market is increasing sales of SUB and crossover models of passenger cars. These types of cars have mid-size and full-size engines, which contain higher penetrations of turbocharged engines. The increase in SUV sales will positively influence turbocharger bearings. The report goes on to state that the biggest challenge is the market is higher wage rates in china will have to mean higher prices for automotive turbocharger bearings.
The bearings industry growth is happening in all bearing areas, not just automotive. Overall, the bearings market is expected to increase by 4.4% in the next year alone, meaning that it will increase significantly by 2020. The bearing industry future growth is excepted to grow exponentially! Most end users of bearing parts include, automotive, and aerospace with the most popular bearings being floating bearing, and ball bearing.
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