A magnetic bearing is a type of bearing that supports a load using magnetic levitation. Magnetic bearings support moving parts without physical contact. Magnetic bearings support the highest speeds of any kind of bearing and have no maximum relative speed. The global Magnet Bearing market is expected to witness strong growth in the forecast period.
Magnetic bearings have many advantages such as they are not affected by wear, show less friction coefficient, can bear irregularities automatically to mass distribution, allow the rotors to spin around their central axis with negligible vibrations, magnetic bearings are extensively accepted in ventricular assist devices as they facilitate reduction of high shear stress areas and reduce flow stagnation in blood pumps. All these major advantages are solid factors for the increasing adoption of magnetic bearings in several applications. This fact ultimately boosts the growth of the global Magnetic Bearings market. Furthermore, other key factors such as the increasing demand for high-quality products, energy-efficient solutions, and cost-effective and advanced technologies are anticipated to propel the growth of the Magnetic Bearings market in the forthcoming years. Moreover, the increasing use of magnetic bearings in applications such as defense, HVAC, and aerospace is anticipated to offer numerous growth opportunities for the magnetic bearing market over the forecast period.
On the downside, factors such as high installment costs, frequent system losses like air, iron, and copper losses, and the requirement of external power backup in case of power drop are estimated to hamper the growth of the Magnetic Bearings market over the forecast period. Further, the production of new-generation generators, motors, and turbines with enhanced speed, efficiency, and services are anticipated to propel the demand for magnetic bearings in the near future.
Covid-19 Impact on Magnet Bearing Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Magnet Bearing Market Segment Overview
Based on Type, the Active Magnet Bearing segment is growing at a significant rate in the global Magnet Bearing market. Active magnetic bearings are broadly used in industries owing to their higher density force on surfaces of supported objects than any other type of magnetic bearing. These bearings can also operate in a wide range of environments and their properties can be made highly configurable through software parameters, hence creating a notable opportunity for future growth. According to End-User, Oil & Gas is the largest segment in the global market. As the demand for energy and carbon-neutral energy grows around the world, so do the demands put on the equipment operating in the oil & gas industry. The magnetic bearing systems is used at almost every stage of oil and gas production- in pumps, compressors, turboexpanders, and motors used in the extraction, refining, transport, and storage of oil and natural gas.
Magnet Bearing Market, By Type
· Active Magnet Bearing
· Passive Magnet Bearing
Magnet Bearing Market, By Application
· Compressor
· Turbine
· Pumps
· Motors
· Generators
· Others
Magnet Bearing Market, By End-User
· Oil & Gas
· Petrochemicals
· Power
· Others
Magnet Bearing Regional Overview
In terms of region, North America is estimated to dominate the global Magnetic Bearings market in the forecast period. This is due to increased industrialization and urbanization in the region. Likewise, The market in the Asia Pacific is expected to rise at a considerable rate in the coming period. Growing economies in the Asia Pacific are anticipated to boost the growth of the market in this region. Furthermore, rapid population growth, increased urbanization, industrialization in this region also contribute more to the development of the market in the forthcoming period.
Magnet Bearing Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Magnet Bearing Market, Key Players
· Synchrony Magnetic Bearings
· Calnetix Technologies
· Waukesha Bearings Corporation
· S2M
· Dresser-Rand
· Comsol Inc.
· Simply Bearings Ltd.
· KML Motion Industries Co. Ltd.
· Siemens AG
· Advanced Motion Controls
· Mecos AG
· NSK Europe
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Magnet Bearing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Active Magnet Bearing
- 5.2.2. Passive Magnet Bearing
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Compressor
- 5.3.2. Turbine
- 5.3.3. Pumps
- 5.3.4. Motors
- 5.3.5. Generators
- 5.3.6. Others
- 5.4. Market Analysis, Insights and Forecast – By End-User
- 5.4.1. Oil & Gas
- 5.4.2. Petrochemicals
- 5.4.3. Power
- 5.4.4. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Magnet Bearing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Active Magnet Bearing
- 6.2.2. Passive Magnet Bearing
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Compressor
- 6.3.2. Turbine
- 6.3.3. Pumps
- 6.3.4. Motors
- 6.3.5. Generators
- 6.3.6. Others
- 6.4. Market Analysis, Insights and Forecast – By End-User
- 6.4.1. Oil & Gas
- 6.4.2. Petrochemicals
- 6.4.3. Power
- 6.4.4. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Magnet Bearing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Active Magnet Bearing
- 7.2.2. Passive Magnet Bearing
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Compressor
- 7.3.2. Turbine
- 7.3.3. Pumps
- 7.3.4. Motors
- 7.3.5. Generators
- 7.3.6. Others
- 7.4. Market Analysis, Insights and Forecast – By End-User
- 7.4.1. Oil & Gas
- 7.4.2. Petrochemicals
- 7.4.3. Power
- 7.4.4. Others
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Magnet Bearing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Active Magnet Bearing
- 8.2.2. Passive Magnet Bearing
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Compressor
- 8.3.2. Turbine
- 8.3.3. Pumps
- 8.3.4. Motors
- 8.3.5. Generators
- 8.3.6. Others
- 8.4. Market Analysis, Insights and Forecast – By End-User
- 8.4.1. Oil & Gas
- 8.4.2. Petrochemicals
- 8.4.3. Power
- 8.4.4. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Magnet Bearing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Active Magnet Bearing
- 9.2.2. Passive Magnet Bearing
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Compressor
- 9.3.2. Turbine
- 9.3.3. Pumps
- 9.3.4. Motors
- 9.3.5. Generators
- 9.3.6. Others
- 9.4. Market Analysis, Insights and Forecast – By End-User
- 9.4.1. Oil & Gas
- 9.4.2. Petrochemicals
- 9.4.3. Power
- 9.4.4. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Synchrony Magnetic Bearings
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Calnetix Technologies
- 10.6. Waukesha Bearings Corporation
- 10.7. S2M
- 10.8. Dresser-Rand
- 10.9. Comsol Inc.
- 10.10. Simply Bearings Ltd.
- 10.11. KML Motion Industries Co. Ltd.
- 10.12. Siemens AG
- 10.13. Advanced Motion Controls
- 10.14. Mecos AG
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
