LONDON--(BUSINESS WIRE)--The global
bearings market is expected http://www.bhg.com/home-improvement/remodeling/ to witness significant growth over
the next five years according to the latest market intelligence study
from Infiniti Research. Two segments in particular, being the
construction and food and beverage segments, are driving the growth of
the global bearings market.
According to Infiniti's
manufacturing research analysts, "In 2016, the combined market
size for bearings in the construction and food and beverage segments is
growing at an average CAGR of 9.1% in terms of revenue and 6.8% in
terms of volume."
"In terms of global market size, the construction equipment industry is
larger than food processing industry. This is also evid ent in the
comparative sizes of bearings market for construction and food
processing segments," added Infiniti
Research. Bearing revenue and volume for construction is
expected to grow at a higher rate compared to the food and beverages
segment due to the faster paced growth of the global construction
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Infiniti Research's manufacturing analysts highlight the following key
findings for the construction and food and beverage segments of the global
bearings industry for the forecast period 2017-2022:
Bearing Market in the Construction Industry
Revenue for this segment is growing https://www.youtube.com/watch?v=d-bH7dZ-o2Y at a CAGR of 9.3% through 2022.
By application, earth moving equipment contributes the highest share
in the bearin g market for the construction equipment industry, worth
USD 1.34 billion in 2016.
Excavations and mining is the second largest segment, valued at USD
853 million in 2016.
Bearing Market in the Food and Beverage Industry
Revenue for this segment is growing at a CAGR of 8.8% through 2022.
The food and beverage segment is highly regulated by the HACCP program
for reducing the risk of safety hazards in foods.
The highest share of bearings by application for food and beverage is
contributed by the beverage bottling industry with a revenue of USD
318.2 million in 2016.
Top 10 Vendors
LYC Bearing Corp.
Nachi Fujikoshi Corp.
Minebea Mitsumi Inc
Harbin bearing Group Co.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence
company providing smart solutions to address your business challenges.
Infiniti Research studies markets in more than 100 countries to help
analyze competitive activity, see beyond market disruptions, and develop
intelligent business strategies.
With 14 years of experience and offices across three continents,
Infiniti Research has been instrumental in providing a complete range of
competitive intelligence, strategy , and research services for over 550
companies across the globe.