Industrial, Manufacturing & Heavy Industry Market News

Plain bearing market grows with CAGR +4.6% according to new research report

The latest report “Global Plain Bearing Market accounted for USD 11.53 billion in 2016 and is projected to grow at a CAGR of 4.6% during the forecast period of 2017 to 2024”.

Short Description of Global Plain Bearing Market:

Global Plain Bearing Market, By Type (Journal, Linear, Thrust, Angular Contact) By Application (Automotive, Industrial, Aerospace, Energy, Construction Machinery, Agricultural & Gardening Equipment, Oilfield Machinery, Office Products) – Industry Trends and Forecast to 2024

Report Definition

Bearings are components made with high precision which enable machines to move at high speeds or carry heavy loads with efficiency. There are several types of bearings such as roller bearing, plain bearing jewel bearing and fluid bearing among others.

There is a growing demand for plain bearings in automotive, industrial, aerospace, energy, construction machinery, agricultural & gardening equipment, oilfield machinery sectors which is expected to be one of the major drivers of the market over the next seven years.

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Competitive Landscape: Plain Bearing Market

The global plain bearing market is fragmented with the presence of a large number of players across different regions.