Air Bearings Market Analysis, Industry Demand, Worldwide Future Scope and Forecast to 2023
Research Reports
Jan 18, 2021
Market Overview
Global Air Bearings Market is touted to touch a valuation of USD 10,733 million by 2023, as per the findings of Market Research Future (MRFR). Characteristics of durability, rotation with high precision, repeatability, cost-benefit, and environment-friendly nature are prime advantages which can witness its wide application in end-use industries. Adoption of lean methodologies by industry stalwarts to expedite the production process in light of heavy demand is likely to bolster market volume tremendously.
Contamination of the pressurized air can cause friction in the bearings and may pose a challenge to the market. But revolutionary technologies such as viscous shear for isolating environments and prevent effective cleaning without contact is likely to resolve this restraint.
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Key Players
Major market players listed in the Air Bearings Market are Mohawk Innovative Technology, Inc. (U.S.), Specialty Components Inc. (U.S.), Leuven Air Bearings NV (Belgium), Aerolas (Germany), Xdot Engineering and Analysis, PLLC (U.S.), Dover Motion (U.S.), Newport Corporation (U.S.), Professional Instruments Company (U.S.), GAT Gesellschaft für Antriebstechnik mbH (Germany), New Way Air Bearings (U.S.), Air Bearings Ltd. (U.K.), Canon Semiconductor Equipment Inc. (Japan), Loadpoint Bearings Ltd. (U.K.), Hovair Systems, Inc. (U.S.), OAV Air Bearings (U.S.), Westwind Air Bearings (U.K.), Aerotech Inc. (U.S.), R&D Dynamics Corporation (U.S.), MAGER S.r.l. (Italy), PI Nelson Air Corp (U.S.) and others.
Segmentation
By type, the hydrostatic/aerostatic segment accounted for 58.72% share of the Air Bearings Market in 2017. It can touch a valuation of USD 6,520.4 million by 2023, at a CAGR of 7.42% during the forecast period. This can be attributed to its properties of low noise, high rotational precision, and low heat generation. Meanwhile, the hydrodynamic/aerodynamic segment accounted for 41.28% market share in the same year. It can experience a CAGR of 5.92% over the review period owing to hydrodynamic bearings’ propensity to handle heavy loads. This segment can elicit a volume of 2,891 thousand units and reach a valuation of USD 4,212.7 million by 2023.
By end-user, aviation accounted for nearly 23% share in the air bearings market in 2017, followed by medical. The aviation segment can generate close to USD 1,282.8 million by 2023, at a CAGR of 7.99% during the assessment period. It can accumulate a demand totaling 1,656 thousand units by 2023. The medical segment can generate USD 1,075.9 million by 2023 for the air bearings market owing to its integration in bio-medical systems. Its use in artificial joints for seamless movement with minimum friction is likely to bode well for the market.
Regional Analysis
Geographic analysis of the air bearings market includes namely North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and Latin America. Among these, APAC accounted for 56.59% share in 2017 on the basis of value, followed by Europe (18.07%), North America (14.39%), MEA (6.19%), and Latin America (4.76%).
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