ALBANY, N.Y., April 20, 2021 /PRNewswire/ -- Overview of Air Bearings Market
Air bearings have emerged as a specialty components for the bearing industry to cater to the demand for lowering friction in various high-speed machineries. The market has evolved on the back of use of air bearing technologies for high technology applications such as in precision material tools and coordinate measuring machines. In contrast to ball bearings, they are usually more effective in reducing the shocks and vibrations arising from friction. Air bearing technologies have salient features including higher rotational precision, longer service life, and remarkable thermal stability.
The growing penetration of precision machining and micro-machining, along with constant need for increasing the energy efficiency, is a key trend spurring the prospects for air bearings market. Rise in business demands for motion control applications for Industry 4.0 is a key factor behind the evolution of the air bearings market.
Partnerships and collaborations have shaped the evolving ecosystem of manufacturers and vendors in the air bearings market. In 2018, the market was valued at US$ 7.6 Bn. The revenue is projected to rise at CAGR of ~ 7% from 2019 to 2027.
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Key Findings of Market Study
- Penetration of Precision Machining Tools Fuels Scope
Strides being made in Industrialization 4.0 have spurred the penetration of precision machining tools, which is a key demand dynamic for the expansion of opportunities in the air bearings market. Need for designing precise tools and instrumentation has propelled the market prospects of air bearing technologies. They are also used in micro-positioning and grinding. The growing popularity of aerostatic bearings in diverse applications is a key trend boosting sales in the air bearings market. With the strides in automation in production facilities, there is an ever-growing need for air bearings that can prolong the lifecycle of all machinery and tools used.
- Automotive Industry Emerging as Lucrative End-use Application
A promising application area is in the automotive industry. Past few years have seen rise in sales of automobiles in the developing world. This has propelled the need for better automotive to enable automakers to capture more consumer value. European nations and numerous economies of Asia Pacific have been witnessing an overall thriving automotive sector. This is a key trend boosting the sales of air bearings. The aviation industry is another key area of substantially growing uptake of air bearings.
Explore 129 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Air Bearings Market [Product Type (Aerostatic Bearings, Aerodynamic Bearings); Speed Capacity (<1000 rpm, 1000 – 60000 rpm, >60000 rpm); Application (Precision Material Tools, Coordinate Measuring Machines, High Speed Machines, and Others); End User (Aviation/Space, Medical, Automotive, Semiconductor, Wastewater Management, and Others)] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/air-bearings-market.html
- Next-gen Consumer Need to Propel Market Growth
Emerging economies are witnessing a rise in use of micro-machining tools in fabricating next-gen electronics. As a result, there is a rapidly growing research and development of bearing technologies. Manufacturing of various consumer electronics need precision machining tools. This in turn has boosted the demand for air bearings. Growing use of such machining and tools in optical products in several parts of the developing world, most notably in Asia, is a key trend boosting the market. Use of energy-efficient machining technologies has also brought air bearing technologies to the fore.
Analyze global air bearings market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Air Bearings Market: Key Driving Factors and Avenues
- A thriving automotive industry is a key driver for the demand in the air bearings market during the forecast period
- Wide range of use of aerostatic bearings in different end-use industries expands scope
- Strides being made in Industry 4.0 bolster the growth avenues for players in the market
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Air Bearings Market: Competitive Dynamics
- New product development and partnerships mark the competitive landscape in the market
- New entrants to focus on consolidating their distribution networks to gain a foothold in the market and wade through competition
- Some of the key players in the market are OAV Air Bearings, R&D Dynamics Corporation, Specialty Components Inc., IBS Precision Engineering, Honeywell International Inc., and Air Bearings Ltd.
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