DUBLIN, June 12, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Magnetic Bearings Market 2017-2021" report to their offering.
The global Magnetic Bearings market to grow at a CAGR of 3.61% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global Magnetic Bearings market for 2017-2021. To calculate the market size, the report considers the demand for magnetic bearing from various end-user applications. The average price of different types of magnetic bearings has been taken into consideration for estimating the market revenue. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is growth in the nuclear power sector. Magnetic bearings are used in the nuclear power sector in various high torque equipment such as turbines and pumps in reactors. Many countries are involved in generating nuclear power. There are 31 countries hosting nearly 440 nuclear power reactors with a total installed capacity of 390,000 MWe. Further, 60 additional nuclear power reactors are under construction and 160 reactors are under the planning stage. Maximum reactors that are planned to be constructed are in Asia and few major new units in Russia. Capacity is increased by upgrading power plants.
According to the report, one of the major drivers for this market is growing demand for wind power generation. Wind turbines are a valuable and efficient means of harnessing alternate energy and help in minimizing carbon emission. Wind turbine manufacturers are developing high-capacity turbines to increase power generation. In addition, manufacturers are developing distinct and durable hybrid wind turbines to withstand extreme climatic conditions. This has directly led to the development of large special-purpose wind turbine bearings, thus increasing the performance. Hence, wind energy is one of the key growing markets for industrial bearings globally. The current trend is to shift toward eco-products and the bearings industry must also adapt accordingly.
Further, the report states that one of the major factors hindering the growth of this market is slowdown in Chinese economy. The recent slowdown that the Chinese economy has been experiencing will have an adverse effect on the magnetic bearings market. As per the World Bank, the Chinese GDP grew at only 6.9% in 2015, which was the slowest recorded since 1990. The slowdown is mainly attributed to the sluggish performance of the country's real estate sector
- Calnetix Technologies
- MAN Diesel & Turbo
Other prominent vendors
- Facility EAST GmbH
- Foshan Genesis
- Synchrony (a business unit of Dresser-Rand)
- Waukesha Bearings
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Geographical segmentation
Part 08: Decision framework
Part 09: Drivers and challenges
Part 10: Market trends
Part 11: Vendor landscape
Part 12: Key vendor analysis
Part 13: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/3f9bk6/global_magnetic
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-magnetic-bearings-market-2017-2021---one-of-the-major-drivers-is-growing-demand-for-wind-power-generation---research-and-markets-300472330.html
SOURCE Research and Markets