Industrial, Manufacturing & Heavy Industry Market News

Instrumented bearing market worth USD 164.84 billion by 2024

Industrial Market Research

The global instrumented bearing market was valued at $92.7 billion in 2016 and is projected to reach $164.84 billion by 2024, growing at a CAGR of 7.6% during the forecast period of 2017-2024.

The ball bearing segment generated the highest revenue share, accounting for more around 50% of in the global instrumented bearing market in 2016.

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A machine component which restricts the relative motion to the required motion in order to reduce the friction generated between moving parts is called as a bearing. Bearing acts as an extremely enabled and precise element which enables the machinery to move at higher speeds and bear high loads with optimum efficiency and without any difficulty.

In order to obtain better machine control, some instrumentation is installed in the bearings.