PUNE, India, December 18, 2017 /PRNewswire/ --
The report "Bearing Isolators Market by Material Type (Metallic and Non-Metallic), End-use Industry (Oil & Gas, Chemical Processing, Mining, Paper & Pulp, Metal Processing, and Manufacturing & Processing), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated to be USD 1.26 Billion in 2017 and is projected to reach USD 1.67 Billion by 2022, at a CAGR of 5.7% from 2017 to 2022. Rising awareness about the advantages offered by bearing isolators and its growing demand from end-use industries such as oil & gas, chemical processing, mining, paper & pulp, manufacturing & processing, etc., are the key factors driving the growth of the bearing isolators market globally.
Browse 121 market data Tables and 30 Figures spread through 131 Pages and in-depth TOC on "Bearing Isolators Market"
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Metallic is the fastest-growing material type segment of the Bearing Isolators Market.
Based on material type, the metallic segment is expected to grow at the highest CAGR from 2017 to 2022. Metallic bearing isolators are widely utilized in oil & gas, chemical processing, mining, metal processing, and other industries due to their various properties such high wear resistance, high load carrying capacity, non-sparking, etc.
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Oil & gas is the fastest-growing end-use industry of the Bearing Isolators Market.
Based on end-use industry, the oil & gas segment is expected to grow at the highest CAGR from 2017 to 2022. Bearing isolators enhance the performance as well as the life of rotating equipment, such as motors, pumps, agitators, steam turbines, etc. Thus, there is a high demand for bearing isolators in this industry.
Asia Pacific is the fastest-growing market for bearing isolators.
The Bearing Isolators Market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. China, Japan, and India are the key countries contributing to the high demand for bearing isolators in the Asia Pacific region. Availability of cheap labor and raw materials in the Asia Pacific region has made it a preferred region for leading manufacturers for the expansion of their business, thus making the region the fastest-growing Bearing Isolators Market. In addition, due to the increasing awareness about the advantages offered by bearing isolators, there is a rise in their demand from various end-use industries such as oil & gas, chemical processing, paper & pulp, mining, metal processing, and manufacturing & processing.
Some of the leading players operating in the Bearing Isolators Market are Inpro/Seal (US), The Timken Company (US), Aesseal (UK), Parker Hannifin (US), Flowserve Corporation (US), Garlock Sealing Technologies (US), John Crane (US), Baldor Electric Company, Inc., (US), Elliott Group (US), Advance Sealing International (US), Beacon Gasket & Seals Co. (US), and IsoMag Corporation (US), etc.
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