The air bearing market globally is projected to reach a value of 13 billion USD in the upcoming years with a growth rate of 7.6%.
Air bearing market Growth and trends
Air bearings are crucial in providing a layer of air compression in devices reducing its wear and tear. The market is largely driven due to the benefits associated with air bearings such as cost effectiveness, durability, ease of operation and related environmental sustainability. These increase the device operational ability on high speeds and extreme temperature conditions. The industrial revolution has brought about a wave for automatic accurate and high speed state of the art performing machineries. This has paved the way for technologies such as air bearings and fueled their market indirectly. The aerospace industry extensively utilizes air bearing technology for lifting heavy load easily in the assembly line production unit. With an expansion of end use industries such as aerospace, automobile, waste management, and medical, the growth of air bearing market is certain. Increasing need for minimalistic and compressed devices such as biomedical sensors, air bearing needs have risen owing to the ability of high performance and zero friction with velocity control. Increasing research regarding its use in artificial joint to reduce friction and provide easy movement is projected to raise the stakes for the market.
Air bearing market Regional analysis
The American market has had dominance for the past years owing to the greater overall development across varied industries. They have higher investments for innovation and technological advancements. The future however, looks brighter for Asia Pacific, as it is under going large scale industrial boom. These nations are expecting a growth in manufacturing and production units pertaining to their cheap and skilled labor. There is a huge development especially in the automobile and aerospace, consumer electronics sector expected to fuel the air bearing market along with it.One restraining factor is the high cost of installation of such devices. The new players in the market find themselves in a difficult position, as the consumers do not trust the product completely and they also face a huge competition in the field. They require an extra effort to penetrate the market and look for more accurate production methods.
Air Bearing Market size was estimated at $xx Million in 2020 and is expected to reach $xx Million by 2027, growing at a CAGR of 11.5% during the forecast period of 2020 to 2027.
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