Future Market Insights
A bearing is an element of a machine generally used to support other moving parts of the machine. While carrying any load, it helps in the relative movement between the connecting surfaces of the machine. Majority of the bearings are used to support the rotating shaft of the machine by holding it either radially or axially. Similarly, a magnetic bearing supports the load using magnetic levitation, without physical contact. A shaft is radially surrounded by magnets, which allow the shaft to spin in the air by levitation – this is the basic working principle of a magnetic bearing. Additionally, magnetic levitation is a method where magnetic force acts as a counter force to the effect of gravitational and other forces.
Magnetic bearings are mainly of three types, namely active magnetic bearings, passive magnetic bearings, and hybrid magnetic bearings. An active magnetic bearing offers friction free, clean, efficient and reliable operation, and eliminates many other components of the machine. These magnetic bearings employ only electromagnets and are used in high speed rotating machines. On the other hand, hybrid magnetic bearings use a combination of electromagnets and permanent magnets for performing the operations.
A passive magnetic bearing offers contact-free magnetic levitation with the help of repulsive and attractive forces of permanent magnets. Also, according to configuration, a PMB supports tilt, axial and radial direction of stabilization. As these magnetic bearings do not require actuators or power electronic components, they are available in a comparatively small size and at a low price. Also, passive magnetic bearings cannot be used in the axial direction, and hence they are less commonly used.
Magnetic bearings offer low friction, require less or no lubricant, and can work in vacuum and without mechanical wear. They are used in high temperature and high-speed applications, where normal bearings fail. However, it is important that there must be no friction, for efficiency in operation and safety reasons.
Magnetic Bearing Market: Dynamics
Magnetic bearings offer reduced transportation cost and better supply management. These advantages propel the demand for this market, and hence act as key drivers for the industry. Additionally, the rising demand for innovative products, such as cost-effective and advanced technologies, energy-efficient flexible solutions and high quality can also be considered as the drivers for the industry. Increasing use of magnetic bearings in HVAC, defense, and aerospace applications is providing several avenues for growth of the magnetic bearing industry.
Increasing demand in niche markets of healthcare, such as cardiology and ventricular assistant can prove to be opportunities for the industry. The manufacture of generators, motors, and turbines with improved speed, efficiency and services are identified as notable trends in the magnetic bearing market.
Magnetic Bearing Market: Segmentation
Segmentation of the magnetic bearing market on the basis of type:
Active magnetic bearing (AMB)
Passive magnetic bearing (PMB)
Hybrid magnetic bearing (HMB)
Segmentation of the magnetic bearing market on the basis of application:
Segmentation of the magnetic bearing market on the basis of end-use industry:
Magnetic Bearing Market: Regional Outlook
Asia Pacific dominates the market for magnetic bearings with a comparatively high market share, followed by North America. However, China and North America, together hold over half the market share. Also, the Middle East and Africa hold significant market shares after Asia Pacific, followed by Western Europe. The increasing demand for industrialization and construction, and the rising application of magnetic bearings in the cardiology sector of healthcare are expected to act as drivers for the market.
Few countries in Europe are adopting off-grid power systems, which increases the demand for magnetic bearings. Therefore, a substantial increment can be expected in the market share of magnetic bearing. The sales of the magnetic bearings is expected to grow significantly in some regions, such as the Middle East & Africa and Asia Pacific over the forecast period.
Magnetic Bearing Market: Market Participants
Examples of some of the market participants in the magnetic bearing market, identified across the value chain are: Siemens AG, Dresser-Rand, Waukesha Bearings Corporation, Calnetix Technologies LLC, Advanced Motion Controls, Comsol Inc., Mecos AG, Simply Bearings Ltd., NSK Europe, KML Motion Industries Co. Ltd.
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