Market To Reach USD
8.70 Billion By 2027
The increase in demand from the end-user industries such as automotive and
transportation are driving the market for sensor bearing market.
Market Size – USD 5.40 Billion in 2018, Market Growth - CAGR of 5.3%, Market Trends –
High application in the ABS in the Asia Pacific and European countries.
The global Sensor Bearing Market is forecasted to grow at a rate of 5.3% from USD 5.63 billion in
2019 to USD 8.70 billion in 2027. The major factor driving the market is the increasing demand
for sensor bearings from the automotive and transportation industries. The enforcement of
stringent regulations accredited to the mandatory installation of ABS systems in cars in various
countries of Europe and the Asia Pacific are also propelling the growth of the market. The
demand for sensor bearings has increased at a consistent pace over the years owing to the
demand for sensor application such as material handling, ABS, electric motors, and so on. Sensor
bearings were introduced with the anti-locking braking system (ABS) in automobiles in the mid-
1980s. As bearing systems evolved, bearing sensors phased out of the design in favor of active
wheel speed sensors to provide wheel speed data for traction control.
Beneficial Aspects of the Report:
The market in the Asia Pacific region is forecasted to grow owing to the high demand from the automotive
industry. The region is a hub for automotive production, with suppliers and original equipment
manufacturer setting up production facilities to fulfill the demand of the rising populations. Increase in
disposable income and a high standard of living has also raised the demand for the sensor bearing market.
Sensor bearings are not practical for everyday use but are ideal for reducing the size of the
equipment and weight in the application where speed and direction measurement is crucial. Enhancement
in the latest generation of smart bearing is able to deliver