Magnetic Bearings Market size is estimated to be USD 1.8 Billion in 2024 and is expected to reach USD 3.5 Billion by 2033 at a CAGR of 8% from 2026 to 2033.
The global magnetic bearings market size was valued at USD 1.02 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.5% from 2023 to 2030. The market growth is driven by the increasing demand for high precision and efficient bearings in industries such as aerospace, automotive, and energy generation. Magnetic bearings are becoming more popular due to their ability to function without physical contact, reducing wear and tear, improving efficiency, and extending equipment life. The demand for these bearings is also supported by the growing trend of automation and the need for systems with minimal maintenance. In terms of revenue, North America and Europe hold significant shares of the market, contributing to the majority of market growth due to technological advancements and high adoption rates in industrial applications.
Regionally, the magnetic bearings market is experiencing rapid growth in Asia Pacific, primarily driven by the expanding manufacturing sector, especially in countries like China, Japan, and India. The market in these regions is expected to grow at a high CAGR of 12.1% from 2023 to 2030, owing to rising investments in infrastructure and industrialization. Additionally, the increasing focus on sustainable energy solutions, such as wind turbines, has further accelerated the demand for magnetic bearings. Meanwhile, North America continues to lead in market share, benefiting from robust technological developments and substantial investments in automation. Europe also maintains a strong presence, particularly in the automotive and aerospace sectors, where precision and efficiency are crucial for operations.
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SKF
Schaeffler
Dresser-rand
MECOS
Waukesha Bearings
LTi
Calnetix
Levitronix
Zeitlos
Jiuyishun
Nanjing CIGU
FG-AMB
Tianjin Emaging
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Magnetic Bearings Market
Active Magnetic Bearings (AMBs)
Passive Magnetic Bearings
Hybrid Magnetic Bearings
Industrial Machinery
Aerospace
Electric Vehicles
Oil & Gas
Renewable Energy
Manufacturing
Transportation
Energy & Power
Aerospace & Defense
Healthcare
Radial Magnetic Bearings
Axial Magnetic Bearings
Hybrid Magnetic Bearing Systems
Single-axis Magnetic Bearings
Multi-axis Magnetic Bearings
Integrated Magnetic Bearing Systems
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Magnetic Bearings Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Magnetic Bearings Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Magnetic Bearings Market, By Type
6. Global Magnetic Bearings Market, By Application
7. Global Magnetic Bearings Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Magnetic Bearings Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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