The primary factor driving the growth of plain bearing market is the growing demand for motor vehicles globally. In addition, the rising demand for bearings in the defense and aerospace sector is also aiding to the growth of this market. However, the increasing technological innovations are making these bearings durable and hence hindering the growth of aftermarket sales. In addition, the growing number is counterfeit products in also hindering the growth of plain bearings globally.
Albany, NY -- (SBWIRE) -- 04/18/2017 -- Market Research Reports Search Engine (MRRSE) has recently announced the addition of a new report to its ever-expanding online repository of market intelligence on Global Plain Bearing Market . This report is titled as "Global Plain Bearing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024". The Middle East, Africa, and South America segments included in the Rest of the World (RoW) segmentation of the global plain bearing market are expected to yield lucrative business opportunities for manufacturers. NSK Ltd. opened its doors in UAE with its new division NSK Bearings Gulf Trading Co. in 2012. The journal bearings segment by type in South America, especially Brazil, is expected to exhibit growth with consistent development in the construction field. Likewise, booming industrialization in South Africa and other African countries has increased the demand in the Africa region.
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Asia Pacific Drives Automotive Segment by End Use to Top Market Demand
The worldwide upswing of the plain bearing market is majorly attributed to the rise in automobile production as bearings have a plethora of popular applications in the automotive industry. A report by Transparency Market Research (TMR) finds Asia Pacific's fast growing economies responsible to speed up the demand for bearings in the automotive market.
Motor vehicles were produced at a growth rate of 2.0% in 2015, according to the International Organization of Motor Vehicle Manufacturers (OICA), compared to the previous year. This has made various bearing manufacturers interested to serve the rocketing demand in the automotive industry. For instance, SKF Group shook hands with Volvo Car Corporation in June 2012 on a seven-year contract for manufacturing front suspension and rear wheel bearing units for a recently launched model.
Nations, such as the U.K. and Turkey, across the globe are looking to upgrade their defense and aerospace infrastructure and equipment, requiring a special class of bearings for mission-critical applications. This has also significantly contributed to the surge in the plain bearing market.
With a unique type of lubricant in place, the SKF Group was able to design energy efficient plain bearings to reduce friction. The need for energy efficiency during the operation of machinery is expected to largely impact the international plain bearing market.
Counterfeit Products Could Pose Trouble for Buyers
Counterfeits of plain bearings and subdued product differentiation with similar quality of bearings manufactured could shrink the global market to some extent. This has forced manufacturers to depend on the aftersales market to compete with other players. However, the restraining factor will have a low impact as increased vehicle production augments the sale of original equipment in the automotive sector, thus compensating for the drop in aftersales.
As the number of counterfeit plain bearings increase in the market, buyers will find it challenging to distinguish genuine bearings from their counterfeits. Few exploitative vendors may disguise low-quality bearings as products from reliable bearing firms. However, such counterfeits of plain bearings have been exposed by various entities, such as the Quality Brands Protection Committee, German Anti-Counterfeiting Association, and World Bearing Association, by informing buyers about the associated risks. Hence, the low impact of this restraint is on the cards.
Browse the full Press Release of Global Plain Bearing Market at :http://www.mrrse.com/global-plain-bearing-market
Plain Bearing Manufacturers Get Smart with Smart Bearings
Smart bearings are expected to create great opportunities for manufacturers with new product segments in the offing. In industrial applications, smart bearings can be helpful to avoid bearing failures by working with condition monitoring programs to provide critical information on temperature and vibration. Bearings cushioned with compressed air and magnetic levitation are other technologies that could provide new market opportunities, although they are very extortionate compared to conventional alternatives.
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