Global Sensor Bearing Market: By Functionality (Displacement, Speed, Temperature, Vibration and Others), By Application (Anti-lock Brake Systems (ABS), Electric Motors, Material Handling Equipment and Others), By End User (Aerospace & Defense, Automotive, Metal & Mining, Oil & Gas, Transportation and Others) and Geography  

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Sensor Baring Market size was valued at USD 6.62 billion in 2022 and is poised to grow at a significant CAGR of 5.5% from 2023-2029. Some of the key factors responsible for the market growth include rising demand from end user industries, growing adoption of IoT in bearing technology, high growth in emerging economies and technological advancements. Sensor bearings are semiconductor devices that are employed in a variety of automotive and material handling devices, and are positioned in small and difficult-to-reach areas of diverse machines where various environmental and mechanical conditions, such as temperature and vibration, must be detected. The rising demand for effective and modern bearings that are durable and require little maintenance is a key factor driving market growth, as is the rising demand for the product from a variety of end-use industries, such as off-highway equipment and material handling equipment, as well as sensor bearings. However, rising raw material price volatility, increased easy access to low-quality products, and a declining after-sales market are among the major factors acting as restraints, while rising lack of awareness about the benefits of sensor bearings and reluctance to use the product, as well as an increase in the number of counterfeit products, will further challenge the sensor bearing market's growth during the forecast period. The volatility of raw material prices affects the demand for sensor bearing which act as a key restraint to the growth of the bearing isolators market. Rising raw material prices acts as an adoption barrier. In addition, as cost plays an important role in the market presence of cheap quality products available for low cost may hamper the market growth.

Global Sensor Bearing Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

5.5%

Largest Market

Asia-Pacific

Fastest Growing Market

Asia-Pacific
Sensor Bearing Market Dynamics

The growing demand for sensor bearings from numerous end-use industries such as metal & mining, transportation, oil & gas, automotive, and aerospace & defense is expected to drive the growth of the market. Sensor bearings are used in wheel hub units in vehicles. In railway locomotives and wagons, sensor bearings are used to observe speed, temperature, vibration, etc. Most automotive hub units use speed sensors to send wheel speed data to anti-lock brake systems (ABS) and traction control units of vehicles. Hence, rising demand from end user industries increases the market growth.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup's details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market

Global Sensor Bearing Market Segmentation

By Functionality
  • Displacement
  • Speed
  • Temperature
  • Vibration
  • Others
By Application
  • Anti-lock Brake Systems (ABS)
  • Electric Motors
  • Material Handling Equipment
  • Others
by End User
  • Aerospace & Defense
  • Automotive
  • Metal & Mining
  • Oil & Gas
  • Transportation
  • Others
By Geography

North America

  • US
  • Canada

Europe

  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • Australia & New Zealand
  • ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Venezuela
  • Rest of Latin America

Middle East and Africa (MEA)

  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA

Frequently Asked Questions

The key segments covered in the Sensor Bearing Market are: By Functionality, Application and End User

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

The Sensor Bearing Market size was valued at USD 6.62 billion in 2022

  1. Executive Summary
  2. Global Sensor Bearing Market Introduction
    • Global Sensor Bearing Market - Taxonomy
    • Global Sensor Bearing Market - Definitions
      • Functionality
      • Application
      • End User
  1. Global Sensor Bearing Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Sensor Bearing Market Dynamic Factors - Impact Analysis
    • Global Sensor Bearing Market - Competition Landscape
  2. Global Sensor Bearing Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
    • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  3. Global Sensor Bearing Market, By Functionality, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Displacement
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Speed
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Temperature
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Vibration
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Sensor Bearing Market Forecast, By Application, 2018 - 2022 and Forecast, 2023 - 2029
    • Anti-Lock Braking System (ABS)
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Electric Motors
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Material Handling Equipment
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Sensor Bearing Market Forecast, By End User, 2018 - 2022 and Forecast, 2023 - 2029
    • Aerospace & Defence
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Automotive
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Metal & Mining
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Oil & Gas
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Transportation
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Sensor Bearing Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Sensor Bearing Market - Opportunity Analysis Index, By Functionality, Application, End User and Region, 2023 - 2029
  2. North America Sensor Bearing Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Functionality Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Displacement
      • Speed
      • Temperature
      • Vibration
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Anti-Lock Braking System (ABS)
      • Electric Motors
      • Material Handling Equipment
      • Others
    • End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Aerospace & Defense
      • Automotive
      • Metal & Mining
      • Oil & Gas
      • Transportation
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • S.
      • Canada
    • North America Sensor Bearing Market - Opportunity Analysis Index, By Functionality, Application, End User and Country, 2023 - 2029
    • North America Sensor Bearing Market Dynamics - Trends
  3. Europe Sensor Bearing Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Functionality Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Displacement
      • Speed
      • Temperature
      • Vibration
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • ANTI-LOCK BRAKING SYSTEM (ABS)
      • Electric Motors
      • Material Handling Equipment
      • Others
    • End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Aerospace & Defense
      • Automotive
      • Metal & Mining
      • Oil & Gas
      • Transportation
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Sensor Bearing Market - Opportunity Analysis Index, By Functionality, Application, End User and Country, 2023 - 2029
    • Europe Sensor Bearing Market Dynamics - Trends
  4. Asia-Pacific Sensor Bearing Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Functionality Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Displacement
      • Speed
      • Temperature
      • Vibration
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Anti-Lock Braking System (ABS)
      • Electric Motors
      • Material Handling Equipment
      • Others
    • End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Aerospace & Defense
      • Automotive
      • Metal & Mining
      • Oil & Gas
      • Transportation
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Sensor Bearing Market - Opportunity Analysis Index, By Functionality, Application, End User and Country, 2023 - 2029
    • Asia-Pacific Sensor Bearing Market Dynamics - Trends
  5. Latin America Sensor Bearing Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Functionality Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Displacement
      • Speed
      • Temperature
      • Vibration
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Anti-Lock Braking System (ABS)
      • Electric Motors
      • Material Handling Equipment
      • Others
    • End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Aerospace & Defense
      • Automotive
      • Metal & Mining
      • Oil & Gas
      • Transportation
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Venezuela
      • Rest of Latin America
    • Latin America Sensor Bearing Market - Opportunity Analysis Index, By Functionality, Application, End User and Country, 2023 - 2029
    • Latin America Sensor Bearing Market Dynamics - Trends
  6. Middle East and Africa Sensor Bearing Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
    • Functionality Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Displacement
      • Speed
      • Temperature
      • Vibration
      • Others
    • Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Anti-Lock Braking System (ABS)
      • Electric Motors
      • Material Handling Equipment
      • Others
    • End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Aerospace & Defense
      • Automotive
      • Metal & Mining
      • Oil & Gas
      • Transportation
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Sensor Bearing Market - Opportunity Analysis Index, By Functionality, Application, End User and Country, 2023 - 2029
    • MEA Sensor Bearing Market Dynamics - Trends
  7. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Functionality & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • Timken (US)
      • NSK Corporation (Japan)
      • Schaeffler Technologies AG & Co. KG (Germany)
      • NTN Corporation (Japan)
      • Nachi Europe GmbH (Germany)
      • Mageba SA (Switzerland)
      • JTEKT Corporation (Japan)
      • Fersa Bearing SA (Spain)
      • BRTEC (China)
      • ABB Group (Switzerland)
      • ABB Group (Switzerland)
      • SKF (Sweden)
  1. Research Methodology
  2. Key Assumptions and Acronyms
  • Timken (US)
  • NSK Corporation (Japan)
  • Schaeffler Technologies AG & Co. KG (Germany)
  • NTN Corporation (Japan)
  • Nachi Europe GmbH (Germany)
  • Mageba SA (Switzerland)
  • JTEKT Corporation (Japan)
  • Fersa Bearing SA (Spain)
  • BRTEC (China)
  • ABB Group (Switzerland)
  • SKF (Sweden)

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