The global magnetic bearing market is presumed to expand at 4.14% CAGR during the forecast period (2017-2023) owing to its cost-effectiveness, asserts Market Research Future (MRFR). Magnet bearings are important devices which are used to levitate objects using magnetic forces. Whereas other bearings offer partial support, magnetic bearings provide complete non-contact support of an object. They are used in applications such as turbines, compressors, motors, and pumps. Magnet bearings are usually used in compressors and allow them to operate without the use of oil for lubrication. This increases the transfer of heat efficiency of the chiller and reduces energy losses due to friction.
Drivers and Constraints Impacting the Market
Magnetic bearing technology is extensively used in turbines and has become viable due to advances in micro-processing controllers which allow robust active control. Developments in the stator, rotor, and materials have been made to minimize energy losses and reduce stress limitation. This has further stimulated the demand for magnetic bearings in turbines. Magnet bearings offer very low friction and can be used in vacuum. With emerging markets and innovation, the global market for magnet bearings is considered to fuel during the review period. Application of magnet bearings in electrical equipment and bullet train is also considered to contribute to the market growth. Moreover, magnet bearings are not affected by wear, can bear irregularities with respect to mass distribution, offer less friction coefficient, and allow the rotors to spin around the central axis with negligible vibration. Such advantages are expected to contribute to the growth of the market.
On the flip side, heavy weight and large size of the magnet bearings coupled with high cost are some of the major factors likely to impede the market growth in the coming years. Also, high initial installment cost is also considered to restrain the market growth.
Global magnetic bearing market: Segmental Analysis
The global magnetic bearing market has been segmented on the basis of type, speed, application, end-user, and region.
By mode of type, the global magnetic bearing market has been segmented into passive magnet bearing, active magnet bearing, and hybrid magnet bearing. Among these, the active magnet bearing is estimated to dominate the global market owing to the ability of such bearings to exert higher-density forces on surfaces of supported objects when compared to other types of magnetic bearings. Such bearings can operate across environments with added benefits such as high performance in a compact design, reliable performance under extreme conditions, energy saving, increased product life, and safer operation.
By mode of application, the global magnetic bearing market has been segmented into turbine, compressor, motors, pumps, generators, and others. Among these, magnet bearings are highly used in turbines due to technological advantages such as operation in extreme temperature, oil-free operation, and active control.
By mode of end-use, the global magnetic bearing market has been segmented into petrochemicals, oil & gas, power, and others. Among these, the power segment is considered to hold the largest market share. The rising cost of energy and harmful environmental effects of power production have emphasized on taming renewable resources of energy which has propelled the market growth during the estimated period.
Regional Insights
Geographically, the global magnet bearing market span across regions namely, Europe, America, Asia Pacific, and the Middle East and Africa.
Among all the regions, Asia Pacific is considered to dominate the global market owing to the increasing foreign investment in the construction sector. Emphasis on the growth of core sectors like aerospace, power, and defense along with government initiatives have ensured the fastest growth in this region. The region has also experienced growing demand for sustainable and eco-friendly construction along with government support which triggers the demand for magnet bearings in the construction sector.
The American region is also presumed to expand at a significant rate owing to the well-established power and aerospace and defense industries. Also, increase in private construction value and growing investment in aerospace and defense sector is considered to flourish the market in this region.
Industry Updates
September 12, 2018: Calnetix Technologies has recently showcased their permanent magnet solutions for turbo expander generators and high-speed compressor motors as well as its new-generation drive systems and medium-voltage motor at the Turbomachinery & Pump Symposia in Houston.
Competitive Dashboard
The noteworthy players operating the global market are Siemens AG, SKF AB, Waukesha Bearings Corporation, Calnetix Technologies, Mecos AG, Synchrony, Foshan Genesis, and Celeroton AG.
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The key players in the magnetic bearing market include Synchrony, SKF, Calnetix, Foshan Genesis, Mecos AG, Kazancompressormash, Waukesha, Celeroton AG, Schaeffler, Dresser-Rand, Siemens AG.
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This detail will lead to a focused approach leading to identification of better opportunities.Request a FREE Sample Copy of Magnetic Bearing Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/magnetic-bearing-market/download-sampleBy TypesActive Magnetic Bearing (AMB)Passive Magnetic Bearing (PMB)Hybrid Magnetic Bearing (HMB)By ApplicationCompressorsTurbinesPumpsMotorsGeneratorsBy End-UseElectrical IndustryHealthcare IndustryRailway IndustryThe report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the magnetic bearing market include Advanced Motion Controls, Calnetix Technologies LLC, Comsol Inc., Dresser-Rand, KML Motion Industries Co. Ltd., Mecos AG, NSK Europe, Siemens AG, Simply Bearings Ltd. and Waukesha Bearings Corporation.
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The key players in the magnetic bearing market include Advanced Motion Controls, Calnetix Technologies LLC, Comsol Inc., Dresser-Rand, KML Motion Industries Co. Ltd., Mecos AG, NSK Europe, Siemens AG, Simply Bearings Ltd. and Waukesha Bearings Corporation.
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The key players in the magnetic bearing market include Advanced Motion Controls, Calnetix Technologies LLC, Comsol Inc., Dresser-Rand, KML Motion Industries Co. Ltd., Mecos AG, NSK Europe, Siemens AG, Simply Bearings Ltd. and Waukesha Bearings Corporation.
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Rising demand for innovative products consisting of cost-effective and advanced technologies, energy-efficient flexible solutions and high quality is accelerating market growth.
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The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.A magnetic bearing is a bearing that supports the moving parts of a machine or equipment without any physical contact.
They are able to provide relative motion of the machinery with very less friction and no wear and tear.
The advantages of magnetic bearings are very low friction, can be used in vacuum and the ability to run without any lubrication.
The major drivers for this magnetic bearings are emerging markets and innovation.
A variety of market drivers such as applications in the new segments such as electrical equipment, bullet trains etc.
