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Increasing Sophistication of Bearings, Rapid Increase in Export Demand of Industrial Machinery and Growth in Renewable Energy are the Major Growth Fac
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The research provides the European bearings market size estimate for 2016, historic data from 2013 to 2015 and provides market forecast from 2017 to 2021. Market revenue is provided in $ million for 2 product segments, 8 end-user segments and 9 regional segments in Europe.Product technology include Ball bearings, Roller bearings, cylindrical roller bearings, Tapered roller bearings, Spherical roller bearings and Needle roller bearings. Regions include Germany, France, Italy, the United Kingdom, Scandinavia, Benelux, Iberia, Rest of Western Europe, Central and Eastern Europe. End users include: industrial (energy, heavy industries, general manufacturing, others) and mobile (automobile, aerospace and defence, off-highway and construction equipment, and railway).The report gives detailed information on the revenues and growth rates of these end-user segments across regions. Competitor analyses and market shares for 2016 have been provided. The major companies covered in the report are SKF, Schaeffler AG, NSK Ltd, NTN-SNR, The Timken Company, JTEKT Corporation, Nachi Europe GmbH, Kinex Bearings and Fersa Bearings.The European bearings market is dominated by 6 major global brands that have significant presence across all major end-user segments and regional segments.The bearings market is likely to be positively impacted by increasing demand for sophisticated bearings. In general, the demand for bearings with longer service life, higher efficiency and lower maintenance requirements is expected to grow significantly during the forecast period. On the other hand, higher adoption of smart bearings is expected to reduce the replacement frequency of bearings, as smart bearings will be replaced on the basis of the actual condition of the bearing rather than on a predetermined replacement schedule. This trend is expected to reduce the growth in demand.The research methodology is a combination of primary and secondary research. Secondary research involves desk-based research. Primary research involves interaction with market participants and getting their perspective and feedback on our analysis.Key Questions Answered in the Report: • Is the European bearings market growing? How long will it continue to grow, and at what rate?• What is the impact of smart bearings on bearing replacement frequency? What new opportunities await bearing manufacturers due to the adoption of smart bearings?• What are the major purchasing criteria considered by bearing customers in Europe? How does the suppliers’ brand influence the purchasing decision?• What are the threats this market is likely to encounter? • What are the factors that may drive the market?• How is the demand for rolling element bearings distributed across the various end-user segments and regions within Europe?
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