The global sensor bearings market size is expected to reach USD 10.57 billion by 2032, according to a new study by Polaris Market Research. The report "Sensor Bearings Market Share, Size, Trends, Industry Analysis Report, By Functionality (Speed, Temperature, Vibration, Displacement, and Others); By End Use; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The surging use of sensor bearings in wine turbine blade tilt systems and solar panel tracking systems all over the world in order to improve their efficiency and reduce maintenance costs coupled with the growing number of manufacturers stared offering customized sensor-based solutions that are tailored to specific and precise industries and applications, are among the prominent factors boosting the market growth. Additionally, rapid development of smart cities and surging need for infrastructure monitoring are also presenting lucrative opportunities for sensor bearings and will push the market growth forward.
For instance, in June 2022, NTN Corporation, announced that they have developed a new sensor integrated bearing called "Talking Bearing", which incorporate sensors, wireless devices, and power generation units. The newly launched solution provides more advanced condition monitoring and early abnormality detection.
Moreover, there is a push for energy efficiency and sustainability in industries like manufacturing and transportation, which provides significant opportunities for sensor bearings that helps optimize equipment performance, reduce energy consumption, and contribute to sustainability goals, which is becoming very crucial for industries with environmental standards and need efficient energy for various purposes.
Furthermore, with the growing advances in microtechnology that have led to the development of miniature sensor bearings that can be widely utilized in compact and space-constrained applications which are crucial for industries like medical devices and consumer electronics, the demand for these bearings and their uses in such applications has been drastically growing over the years.
The constant drive towards the energy efficiency and sustainability across several industries including manufacturing and transportation, has also been increasing the demand for sensor bearings due to their capabilities to help optimize equipment performance and reduce energy consumption.
Sensor Bearings Market Report Highlights
Speed segment accounted for noteworthy share, mainly attributed to increasing need for effective speed monitoring solutions across numerous industries
Anti-lock braking system held the majority market share, owing to its significant use in automobiles to improve or enhance the safety of vehicles mainly electric vehicles
Automotive segment will grow at highest growth rate, mainly accelerated by growing production and sales of automobiles equipped with advanced safety features
Asia Pacific dominated the global market with substantial share, on account of increasing people disposable income in the region that led to higher adoption
The key market players include JTEKT Corporation, NSK Corporation, Schaeffler Technologies, The Timken Company, Brammer PLC, and Fersa Bearings
Polaris Market Research has segmented the sensor bearings market report based on functionality, application, end use, and region:
Sensor Bearings, Functionality Outlook (Revenue - USD Billion, 2023 - 2032)
- Speed
- Temperature
- Vibration
- Displacement
- Others
Sensor Bearings, Application Outlook (Revenue - USD Billion, 2023 - 2032)
- Anti-lock Braking System
- Material Handling Equipment
- Electric Motors
- Others
Sensor Bearings, End Use Outlook (Revenue - USD Billion, 2023 - 2032)
- Automotive
- Transportation
- Metal & Mining
- Oil & Gas
- Aerospace & Defense
- Others
Sensor Bearings, Regional Outlook (Revenue - USD Billion, 2023 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Sensor Bearings Market Insights
- 4.1. Sensor Bearings Market - End Use Snapshot
- 4.2. Sensor Bearings Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising adoption of IoT and Industry 4.0 and growing technological advancements are likely to spur market growth
- 4.2.1.2. Rising Demand for Condition Monitoring
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Complexity and Integration Challenges
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Sensor Bearings Market End Use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Sensor Bearings Market, by Functionality
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 5.3. Speed
- 5.3.1. Global Sensor Bearings Market, by Speed, by Region, 2019-2032 (USD Billion)
- 5.4. Temperature
- 5.4.1. Global Sensor Bearings Market, by Temperature, by Region, 2019-2032 (USD Billion)
- 5.5. Vibration
- 5.5.1. Global Sensor Bearings Market, by Vibration, by Region, 2019-2032 (USD Billion)
- 5.6. Displacement
- 5.6.1. Global Sensor Bearings Market, by Displacement, by Region, 2019-2032 (USD Billion)
- 5.7. Others
- 5.7.1. Global Sensor Bearings Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Sensor Bearings Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 6.3. Anti-lock Braking System
- 6.3.1. Global Sensor Bearings Market, by Anti-lock Braking System, by Region, 2019-2032 (USD Billion)
- 6.4. Material Handling Equipment
- 6.4.1. Global Sensor Bearings Market, by Material Handling Equipment, by Region, 2019-2032 (USD Billion)
- 6.5. Electric Motors
- 6.5.1. Global Sensor Bearings Market, by Electric Motors, by Region, 2019-2032 (USD Billion)
- 6.6. Others
- 6.6.1. Global Sensor Bearings Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Sensor Bearings Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 7.3. Automotive
- 7.3.1. Global Sensor Bearings Market, by Automotive, By Region, 2019-2032 (USD Billion)
- 7.4. Transportation
- 7.4.1. Global Sensor Bearings Market, by Transportation, By Region, 2019-2032 (USD Billion)
- 7.5. Metal & Mining
- 7.5.1. Global Sensor Bearings Market, by Metal & Mining, By Region, 2019-2032 (USD Billion)
- 7.6. Oil & Gas
- 7.6.1. Global Sensor Bearings Market, by Oil & Gas, By Region, 2019-2032 (USD Billion)
- 7.7. Aerospace & Defense
- 7.7.1. Global Sensor Bearings Market, by Aerospace & Defense, By Region, 2019-2032 (USD Billion)
- 7.8. Others
- 7.8.1. Global Sensor Bearings Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Sensor Bearings Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Sensor Bearings Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Sensor Bearings Market - North America
- 8.3.1. North America: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.3.2. North America: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.3.3. North America: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.3.4. Sensor Bearings Market - U.S.
- 8.3.4.1. U.S.: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.3.5. Sensor Bearings Market - Canada
- 8.3.5.1. Canada: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.4. Sensor Bearings Market - Europe
- 8.4.1. Europe: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.4.3. Europe: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.4.4. Sensor Bearings Market - UK
- 8.4.4.1. UK: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.4.5. Sensor Bearings Market - France
- 8.4.5.1. France: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.4.5.3. France: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.4.6. Sensor Bearings Market - Germany
- 8.4.6.1. Germany: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.4.7. Sensor Bearings Market - Italy
- 8.4.7.1. Italy: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.4.8. Sensor Bearings Market - Spain
- 8.4.8.1. Spain: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.4.9. Sensor Bearings Market - Netherlands
- 8.4.9.1. Netherlands: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.4.10. Sensor Bearings Market - Russia
- 8.4.10.1. Russia: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.5. Sensor Bearings Market - Asia Pacific
- 8.5.1. Asia Pacific: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.5.4. Sensor Bearings Market - China
- 8.5.4.1. China: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.5.4.3. China: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.5.5. Sensor Bearings Market - India
- 8.5.5.1. India: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.5.5.3. India: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.5.6. Sensor Bearings Market - Malaysia
- 8.5.6.1. Malaysia: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.5.7. Sensor Bearings Market - Japan
- 8.5.7.1. Japan: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.5.8. Sensor Bearings Market - Indonesia
- 8.5.8.1. Indonesia: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.5.9. Sensor Bearings Market - South Korea
- 8.5.9.1. South Korea: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.6. Sensor Bearings Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.6.4. Sensor Bearings Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.6.5. Sensor Bearings Market - UAE
- 8.6.5.1. UAE: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.6.6. Sensor Bearings Market - Israel
- 8.6.6.1. Israel: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.6.7. Sensor Bearings Market - South Africa
- 8.6.7.1. South Africa: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.7. Sensor Bearings Market - Latin America
- 8.7.1. Latin America: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.7.4. Sensor Bearings Market - Mexico
- 8.7.4.1. Mexico: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.7.5. Sensor Bearings Market - Brazil
- 8.7.5.1. Brazil: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
- 8.7.6. Sensor Bearings Market - Argentina
- 8.7.6.1. Argentina: Sensor Bearings Market, by Functionality, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Sensor Bearings Market, by End Use, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Sensor Bearings Market, by Application, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. ABB
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Beijing Zhongxuan Bailian Technology Co. Ltd.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Brammer PLC
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Fersa Bearings
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Harbin Bearing Manufacturing Co. Ltd.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Homson Industries Inc.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. JTEKT Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Nachi Europe GmbH
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. NSK Corporation
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Rexnord Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. RHP Bearings
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Schaeffler Technologies AG & Co. Kg
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. SKF
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. The Timken Company
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. Wafangdian Bearing Co. Ltd.
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development