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NEW YORK, Oct. 12, 2020 /PRNewswire/ -- The global mounted bearing market size is projected to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 5.8%. The market is driven by the adoption of mounted bearings in numerous industries; their high efficiency and long life with less maintenance requirements; growing demand for specialized bearings for cost optimization; and increasing development and adoption of sensor-based bearing units and IoT.Read the full report: https://www.reportlinker.com/p05976565/?utm_source=PRN The increasing adoption of mounted bearings in major industries such as food & beverages, mining & minerals, and pulp & paper drive the mounted bearing market.According to the United States Department of Agriculture, food processing plants accounted for a share of 15% of the value of shipments from the US in 2018.Meat processing, dairy, and beverages contributed 24%, 13%, and 12%, respectively to the total food processing shipment in the same year.Improved economic conditions and increased consumption would likely to boost the demand for machineries for food processing.Stringent food safety standards and the adoption of new technologies drive the demand for premium mounted bearings.Efficient material handling through conveyers is also expected to increase the demand for mounted bearings in the food processing industry. Mounted bearings are used in packaging and pallet wrapping applications as well.Green manufacturing and energy concerns are likely to surge the demand for ball bearingsMounted ball bearings are used across the agriculture, food & beverage, and textile industries mainly due to their cost-effectiveness.Food & beverage industry players such as breweries and food manufacturing units are primarily reliant upon ball bearings.According to primary insights from Schaeffler, "30% of critical food & beverage applications including food processing and packaging require housings." Green manufacturing and energy concerns are likely to surge the demand for efficient plant machinery. Hence, demand for ball bearing would increase in the years to come as the energy requirement in these bearings is lower than in roller bearings.Food & beverage segment is expected to be the largest market during the forecast periodThe food & beverage industry and related services have shown sustainable growth in the last few years.This industry can be segmented into food processing and packaging, which use equipment such as mixer drives, conveyors, fans & blowers, and gears & transmission.Most of this equipment is fitted with mounted bearings, especially in applications with both high loads and low loads.The demand for such equipment is expected to grow owing to the increasing automation, development of advanced equipment, and efforts to increase production efficiency and reduce errors in the food & beverage industry.Customized or specific mounted bearings are widely used in the food & beverage industry.OE market segment is expected to be the largest market in the forecast periodThe OE market is critical for mounted bearing manufacturers, as a majority of high volume orders are received by OEMs.The demand for mounted bearings depends on the requirements of the clients of equipment manufacturers.For instance, food & beverage machinery and equipment manufacturers are mostly medium sized companies and develop machinery according to the needs of their customers.Equipment manufacturers today are increasingly focusing on providing added features as a standard fitment in equipment along with after-sales service as a product differentiation strategy.This is likely to boost the mounted bearing OE market in the coming years.In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market. By Company Type: Tier I - 60%, Tier II - 15%, and OEMs & End-users - 25% By Designation: Directors - 22%, C Level Executives- 25%, and Others - 53% By Region: North America - 25%, Europe - 28%, Asia Oceania - 37%, and RoW-10%Major players in the mounted bearing market are SKF (Swden), Schaeffler ( Germany), THE TIMKEN COMPANY (US), NSK (Japan), and ABB (Switzerland).Research Coverage:The market study covers the mounted bearing market size and future growth potential across different segments such as product type, housing type, end-use industry type, equipment type, market channel, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.Key Benefits of Buying the Report: The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall mounted bearing market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.Read the full report: https://www.reportlinker.com/p05976565/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [emailprotected] US: (339)-368-6001 Intl: +1 339-368-6001 SOURCE Reportlinker Related Links www.reportlinker.com

Answer: The global mounted bearing market size is projected to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 5.8%