LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the release of their ‘Bearings Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the components and spares industry. This report breaks down the data and analysis behind the procurement of bearings and acts as an all-inclusive guide for making smart purchasing decisions.
“Key industries such as automotive and industrial equipment manufacturing will drive the growth of the bearings market,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “Also, APAC accounts for the maximum share of the global spend as the region is considered as a major manufacturing hub,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Bearings Market:
- Demand for integrated bearings
- Emergence of digitization in bearings category
- Development and growth of maintenance-free bearings
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Demand for integrated bearings
Globally, there is an increase in the demand for integrated bearings, owing to the growing requirement for equipment with low maintenance and higher efficiency. The increasing incorporation of integrated bearings will enhance the equipment performance and capabilities.
Emergence of digitization in bearings category
In recent years, there has been an emergence in digitization along with the incorporation of IoT. The incorporation of digitization facilitates customization of design and enhances the capabilities of bearings.
Development and growth of maintenance-free bearings
In the bearings market, the suppliers are investing in R&D by utilizing various technologies and techniques. The incorporation of maintenance-free bearings helps buyers reduce their overall downtime and related costs.
View our report snapshot to gain detailed insights into the current market trends.
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