DUBLIN, Nov. 16, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/b42q7n/global) has announced the addition of the "Global Self-lubricating Bearings Market 2015-2019" report to their offering.
The global self-lubricating bearings market is expected to grow significantly during the forecast period, posting a CAGR of more than 9%. This growth is attributed to factors such as global economic growth, increased manufacturing and construction activities, rising energy demand, and income levels. Advances in technology coupled with the need for energy-efficient and high-performance bearings in industrial equipment and machinery will further assist in the growth of the self-lubricating bearings market.
The automotive industry holds the largest market share with over 37% and is one of the key end-users of bearings, as all the vehicles require a wide range of application-specific bearings. The main factors contributing to the growth of the automotive industry are favorable government regulations, steady economic growth, and infrastructure development in APAC, Europe, North America, and Latin America.
APAC leads the self-lubricating bearings market with nearly 50% market share. The high tax imposition on completely built units and completely knocked down units has compelled global manufacturers to shift their manufacturing facilities to developing regions such as APAC, thus stimulating growth in this region. Countries such as China, India, Thailand, and Indonesia lead the market in the APAC region.
The innovation of smart self-lubricating bearing is a growing trend, which will drive the demand for self-lubricating bearings in the forecast period. Moreover, globalization and lack of product differentiation have also encouraged vendors to transform their products by adding new features and functionalities to enhance product performance and capabilities.
The primary vendors in this market are
Other prominent vendors included in this report are
- Koyo Bearings
- INA Bearing
- NMB Bearings
For more information visit http://www.researchandmarkets.com/research/b42q7n/global
Laura Wood, +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets