The global magnetic bearings market size was worth around USD 1.98 Billion in 2023 and is predicted to grow to around USD 3.34 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.96% between 2024 and 2032.
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Market for Magnetic Bearings: Synopsis
The worldwide manufacturing, distribution, and application of magnetic bearing systems constitutes the term “market for magnetic bearings”. Modern structural elements called magnetic bearings use magnetic levitation to support rotating equipment, therefore negating the necessity for traditional mechanical bearings. This technique can be used in many different applications including industrial machinery, turbomachinery, electrical motors, and aerospace systems, therefore benefiting enhanced precision, lower maintenance costs, and more efficiency.
The market offers products ranging from active magnetic bearings (AMB) to passive magnetic bearings (PMB), therefore meeting a wide range of sectors and industries. Technical advancements and growing use across a range of sectors and applications are expected to drive expansion in the magnetic bearings market so long as businesses give efficiency, dependability, and precision top priority.
Market for Magnetic Bearings: Growth Factors
Low friction, low lubrication demand, and the capacity to run without mechanical wear are the favourable characteristics of the magnetic bearings. They are employed in high-speed and high-temperature environments where standard bearings fail. The magnetic bearings market is predicted to develop in accordance with the increasing demand for premium goods, energy-efficient solutions, and affordable and sophisticated technology. Over the projected period, the rising use of magnetic bearings in applications including defence, HVAC, and aerospace is expected to present numerous development prospects for the magnetic bearing market.
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The Global Magnetic Bearings Market is segmented based on product, application and region
Global Magnetic Bearings Market: Product Segment Analysis
● Active Magnet Bearing
● Passive Magnet Bearing
Global Magnetic Bearings Market: Application Segment Analysis
● Compressor
● Turbine
● Pumps
● Motors
● Generators
● Others
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The Global Magnetic Bearings market profiles key players such as:
● Dresser-Rand
● Calnetix Technologies
● Comsol Inc.
● Simply Bearings Ltd.
● KML Motion Industries Co. Ltd.
● Siemens AG
● Waukesha Bearings Corporation
● Advanced Motion Controls
● Mecos AG
● NSK Europe.
● And Others
Market for Magnetic Bearings: Regional Notes
Strong understanding of the available regional insights is necessary to grasp the dynamics of the magnetic bearings market. Regional elements include the growth of the economy, the beginning of industrialisation, and the advent of technological breakthroughs influence the performance of the market. differing sites could show differing degrees of acceptability and demand for magnetic bearings depending on the distinct industrial environments of different countries. For instance, established areas like North America and Europe could be highly sought for in the advanced manufacturing and aerospace sectors.
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