LONDON--(BUSINESS WIRE)--The global
bearings market is set for steady growth over the next five
years according to analysts at Infiniti Research. The growth of the
market is being driven mainly by Home Improvement in College Station two segments; the construction industry
and the food and beverage industry.
"The construction segment is the larger of the two because the
construction equipment industry is larger than food processing industry.
This is also evident in the comparative sizes of the bearings market for
construction and food processing segments," says Infiniti Research. In
their latest study, Infiniti
Research notes the bearings market in the construction segment
will reach Best Home Improvement College Station USD 6.25 million in revenue in 2022, up from USD 3.65
million in 2016.
Despite being the smal ler segment, the global bearings market in the
food and beverage segment is growing at a similar pace. Between
2016-2022, the bearings market in food and beverage is expected to grow
at a CAGR of 6.5%, slightly slower than the construction segment which
is growing at a CAGR of 7.1% during the same duration.
View the study: https://www.infinitiresearch.com/casestudy/market-intelligence-helps-manufacturing-company
What's Driving Market Growth?
Infiniti Research industrial
and manufacturing analysts highlight the following factors that
are contributing to the growth of the global bearings market in the
construction and food and beverage segments for the forecast period
Global Bearings Market for Construction Equipment
Emerging markets with infrastructure needs continue to accelerate the
growth of construction equipment manufacturing, which in-turn drives
the bearing market in construction segment
Manufacturers are introducing new products designed to meet the
requirements of the construction industry, for example, bearings http://www.bhg.com/home-improvement/remodeling/ that
have high load capacity and can operate continuously for 24X7
Emerging technologies such as IC tagged bearings that record and relay
operation data and simplify periodic inspection of vehicles are also
driving the market growth
Global Bearings Market for Food and Beverages
Growth in the end-user industry is expected to be stable and provide a
consistent revenue stream for bearing manufacturers
Introduction of new line of products specific to the food and beverage
processing industry are creating new markets
Development of value added services such as on-line systems to report
the condition of bearings are also generating growth opportunities
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence
company providing smart solutions to address your business challenges.
Infiniti Research studies markets in more than 100 countries to help
analyze competitive activity, see beyond market disruptions, and develop
intellig ent business strategies.
With 14 years of experience and offices across three continents,
Infiniti Research has been instrumental in providing a complete range of
competitive intelligence, strategy, and research services for over 550
companies across the globe.