Magnet Bearings Market Research Report – Forecast to 2023

Magnet Bearings Market Research Report – Forecast to 2023

ID: MRFR/IA - E/4484-CRR | April, 2018 | Region: Global | 100 pages | Cooked Research Reports

Global Magnet Bearings Market Information Type (Active Magnet Bearing, Passive Magnet Bearing, and Hybrid Magnet Bearing), Application (Compressor, Turbine, Pumps, Motors, Generators, and Others), End-User (Oil & Gas, Petrochemicals, Power, Others), Speed, And Region - Forecast To 2023


Market Synopsis


Magnetic Bearings are essential devices used to levitate objects using magnetic forces. Some magnetic bearings offer complete non-contact support of an object, whereas others provide partial support with more traditional mechanical bearings. Such bearings are used in applications such as compressors, turbines, pumps, and motors.


The global magnet bearings market is expected to grow moderately and register a value CAGR of 4.14% over the forecast period. Some of the prominent drivers supporting the growth of global magnet bearings market are cost-effectiveness, energy-efficient flexible solutions, and increasing application in HVAC, aerospace, & defense. However, the economic slowdown in China is the restraining factor for the magnet bearings market.


The Navy Technology Validation Program conducted three magnetic bearing chiller retrofits as a demonstration project between 2005 and 2007. The installations resulted in 40-65% power savings over the original equipment, and reduced maintenance costs when compared to the traditional positive-displacement water-cooled chillers. The magnetic bearings enable the compressor to work without the use of oil for lubrication, which reduces energy loss. This happens due to friction and improves the heat transfer efficiency of the chiller, as no oil enters the evaporator or the condenser. It has been a long time since oil-free magnetic bearing centrifugal compressors have entered the HVAC market. Magnetic-bearing centrifugal chillers make use of permanent magnets synchronous compressor motors.  Such motors have enabled efficiency over an induction motor, especially at low motor speeds.


There has been an increase in awareness among end-users of the reduction in operating costs that come with the use of magnetic bearings compared to oil-lubricated machines. Although, the market for magnetic bearings is growing, the volume for machines equipped on magnetic bearings is relatively small. Manufacturing costs of the magnetic bearing are high because the volumes do not match the investment in tooling engineering, which can reduce the manufacturing cost.


 Magnet Bearings market


The magnet bearings market has been segmented based on type, application, end-user, speed, and region. On the basis of type, the market has been segmented into active magnet bearing, passive magnet bearing, and hybrid magnet bearing. Active magnet bearing has dominated the market due to the ability of such bearings to exert higher-density forces on surfaces of supported objects when compared to another type of magnetic bearings. These bearings can operate across a wide range of environments with additional benefits such as reliable performance under extreme conditions, high performance in a compact design, increased product life, and energy saving and safer operation. On the basis of application, the market has been segmented into compressor, turbine, pumps, motors, generators, and others. The segment accounted for 27.31% market share in the global magnet bearings market in 2016. This is because when used in turbines, such bearings have major technological advantages such as oil-free operation, operation in extreme temperature environments, and active control.

Market Segmentation:


On end-user, the market has been segmented into oil & gas, petrochemicals, power, and others. Power is expected to hold the largest share as the rising cost of energy along with the harmful environmental effects of power production have placed emphasis on taming renewable sources of energy and improving the utilization of energy, which induced the market growth of magnet bearings.


Geographically, the global magnet bearings market has been divided into four major regions such as Americas, Europe, Asia Pacific and Middle East & Africa. Asia Pacific has dominated the magnet bearings market due to increase in foreign investment in construction sector. Furthermore, the government initiatives, and emphasis on the growth of core sectors such as power, and aerospace, defense has ensured fastest growth in the Asia Pacific market. China is one of the leading markets in the Asia Pacific region. The country has witnessed increasing demand for eco-friendly and sustainable construction and the government support fuel the demand of magnet bearing in the construction industry. The Chinese power industry has focus of both domestic and international players for a very long time. There have been various government programs pushing the sector. It is because of this that the industry is a major consumer of magnet bearing in the country.


Americas is also an important market for magnet bearing to prosper. It is mainly due to the well-established aerospace, & defense, and power industries. In Americas, U.S. is the largest market for magnet bearing. It accounted for the largest market share in 2016. The share is attributed by various factors such as increase in private construction value, various government regulation to push the energy & power industry, and increasing investment in the aerospace & defense sector. On the other hand, spending on infrastructure to ensure delivery of power to homes and industries has increased steadily in last ten years. The investment has been made for building utilities, upgrading, and replacing station equipment, poles, fixtures, and overhead lines and devices. This spiked the growth of magnet bearing in the region.

Key Players:


The prominent players in the magnet bearings market include Calnetix Technologies, Siemens AG, Waukesha Bearings Corporation, Mecos AG, Foshan Genesis, Synchrony, SKF AB, and Celeroton AG.


The report for Global Magnet bearings market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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TABLE OF CONTENTS

2.1 Definition 14

2.2 Scope of the Study 14

2.3 List of Assumptions 14

2.4 Market Structure 15

3.1 Research Process 17

3.2 Primary Research 17

3.3 Secondary Research 17

3.4 Market Size Estimation 18

3.5 Forecast Model 18

4.1 Introduction 20

4.2 Drivers 21

4.2.1 An Energy-Efficient Flexible Solution 21

4.2.2 Cost-Effectiveness 22

4.2.3 Increasing Application in HVAC, Defense, and Aerospace 23

4.3 Restraint 24

4.3.1 Slowdown in Chinese Economy 24

4.4 Opportunities 25

4.4.1 Growth in niche healthcare applications 25

4.4.2 Growth in niche healthcare applications 26

5.1 Value Chain Analysis 28

5.1.1 Raw Material Supply: 28

5.1.2 Manufacture 28

5.1.3 Distribution 28

5.1.4 End-User 28

5.2 Porter’s Five Forces Analysis 29

5.2.1 Threat of new entrants 29

5.2.2 Bargaining power of suppliers 29

5.2.3 Threat of substitutes 29

5.2.4 Bargaining power of buyers 30

5.2.5 Rivalry 30

6.1 Introduction 32

6.2 Active Magnet Bearing 32

6.3 Passive Magnet Bearing 32

6.4 Hybrid Magnet Bearing 32

7.1 Introduction 34

7.2 Compressor 34

7.3 Turbine 34

7.4 Pumps 34

7.5 Motors 34

7.6 Generators 34

8.1 Introduction 37

8.2 Upto 50,000 rpm 37

8.3 50,000 to 100,000 rpm 37

8.4 Above 10,000 rpm 37

10.1 Introduction 42

10.2 Americas 43

10.2.1 U.S. 46

10.2.2 Canada 49

10.2.3 Brazil 51

10.3 Europe 54

10.3.1 Germany 57

10.3.2 U.K. 59

10.3.3 France 61

10.3.4 Italy 63

10.3.5 Rest of Europe 65

10.4 Asia Pacific 66

10.4.1 China 69

10.4.2 India 71

10.4.3 Japan 73

10.4.4 Rest of Asia Pacific 75

10.5 Middle East & Africa 77

10.5.1 Middle East 79

10.5.2 Africa 81

11.1 Competitive Landscape 84

12.1 Siemens AG 87

12.1.1 Company Overview 87

12.1.2 Financials 87

12.1.3 Products 87

12.1.4 Strategy 87

12.1.5 Key Developments 87

12.2 SKF AB 88

12.2.1 Company Overview 88

12.2.2 Financials 88

12.2.3 Products 88

12.2.4 Strategy 88

12.2.5 Key Developments 88

12.3 Schaeffler AG 90

12.3.1 Company Overview 90

12.3.2 Financials 90

12.3.3 Products 90

12.3.4 Strategy 90

12.4 Calnetix Technologies 92

12.4.1 Company Overview 92

12.4.2 Financials 92

12.4.3 Products 92

12.4.4 Strategy 92

12.4.5 Key Developments 92


12.5 Waukesha Bearings Corporation 93

12.5.1 Company Overview 93

12.5.2 Financials 93

12.5.3 Products 93

12.5.4 Strategy 93

12.5.5 Key Developments 93

12.6 Mecos AG 95

12.6.1 Company Overview 95

12.6.2 Financials 95

12.6.3 Products 95

12.6.4 Strategy 95

12.6.5 Key Developments 95

12.7 Foshan Genesis 97

12.7.1 Company Overview 97

12.7.2 Financials 97

12.7.3 Products 97

12.7.4 Strategy 97

12.7.5 Key Developments 97

12.8 Synchrony 98

12.8.1 Company Overview 98

12.8.2 Financials 98

12.8.3 Products 98

12.8.4 Strategy 98

12.8.5 Key Developments 98

12.9 Celeroton AG 100

12.9.1 Company Overview 100

12.9.2 Financials 100

12.9.3 Products 100

12.9.4 Strategy 100

12.9.5 Key Developments 100

13 Conclusion 102

13.1 Conclusion 103

14 Appendix 104

14.1 References 105

TABLE 1 MARKET SYNOPSIS 12

TABLE 2 LIST OF ASSUMPTIONS 14

TABLE 3 GLOBAL MAGNET BEARING MARKET, BY TYPE, 2014-2023(USD MILLION) 32

TABLE 4 GLOBAL MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 35

TABLE 5 GLOBAL MAGNET BEARING MARKET, BY SPPED, 2014-2023 (USD MILLION) 37

TABLE 6 GLOBAL MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 40

TABLE 7 GLOBAL MAGNET BEARING MARKET, BY REGION, 2014-2023 (USD MILLION) 42

TABLE 8 AMERICAS: MAGNET BEARING MARKET, BY COUNTRY, 2014-2023 (USD MILLION) 44

TABLE 9 AMERICAS: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 44

TABLE 10 AMERICAS: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 44

TABLE 11 AMERICAS: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 45

TABLE 12 AMERICAS: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 45

TABLE 13 U.S.: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 47

TABLE 14 U.S.: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 47

TABLE 15 U.S.: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 48

TABLE 16 U.S.: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 48

TABLE 17 CANADA POWER GENERATION AND RENEWABLE ENERGY PRODUCTION, 2014-2017 (USD MILLIONS) 49

TABLE 18 CANADA: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 49

TABLE 19 CANADA: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 50

TABLE 20 CANADA: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 50

TABLE 21 CANADA: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 50

TABLE 22 BRAZIL: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 52

TABLE 23 BRAZIL: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 52

TABLE 24 BRAZIL: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 52

TABLE 25 BRAZIL: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 53

TABLE 26 EUROPE: MAGNET BEARING MARKET, BY COUNTRY, 2014-2023 (USD MILLION) 55

TABLE 27 EUROPE: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 55

TABLE 28 EUROPE: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 55

TABLE 29 EUROPE: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 56

TABLE 30 EUROPE: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 56

TABLE 31 GERMANY: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 57

TABLE 32 GERMANY: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 58

TABLE 33 GERMANY: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 58

TABLE 34 GERMANY: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 58

TABLE 35 U.K.: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 59

TABLE 36 U.K.: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 60

TABLE 37 U.K.: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 60

TABLE 38 U.K.: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 60

TABLE 39 FRANCE: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 61

TABLE 40 FRANCE: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 62

TABLE 41 FRANCE: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 62

TABLE 42 FRANCE: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 62

TABLE 43 ITALY: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 63

TABLE 44 ITALY: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 63

TABLE 45 ITALY: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 64

TABLE 46 ITALY: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 64

TABLE 47 REST OF EUROPE: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 65

TABLE 48 REST OF EUROPE: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 65

TABLE 49 REST OF EUROPE: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 65

TABLE 50 REST OF EUROPE: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 66

TABLE 51 ASIA PACIFIC: MAGNET BEARING MARKET, BY COUNTRY, 2014-2023 (USD MILLION) 67

TABLE 52 ASIA PACIFIC: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 67

TABLE 53 ASIA PACIFIC: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 67

TABLE 54 ASIA PACIFIC: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 68

TABLE 55 ASIA PACIFIC: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 68

TABLE 56 CHINA: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 69

TABLE 57 CHINA: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 69

TABLE 58 CHINA: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 70

TABLE 59 CHINA: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 70

TABLE 60 INDIA: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 71

TABLE 61 INDIA: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 72

TABLE 62 INDIA: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 72

TABLE 63 INDIA: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 72

TABLE 64 JAPAN: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 73

TABLE 65 JAPAN: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 74

TABLE 66 JAPAN: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 74

TABLE 67 JAPAN: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 74

TABLE 68 REST OF ASIA PACIFIC: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 75

TABLE 69 REST OF ASIA PACIFIC: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 75

TABLE 70 REST OF ASIA PACIFIC: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 75

TABLE 71 REST OF ASIA PACIFIC: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 76

TABLE 72 MIDDLE EAST & AFRICA: MAGNET BEARING MARKET, BY REGION, 2014-2023 (USD MILLION) 78

TABLE 73 MIDDLE EAST & AFRICA: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 78

TABLE 74 MIDDLE EAST & AFRICA: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 78

TABLE 75 MIDDLE EAST & AFRICA: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 78

TABLE 76 MIDDLE EAST & AFRICA: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 79

TABLE 77 GCC: INVESTMENTS IN MANUFACTURING INDUSTRIES, 2010-2014 (USD MILLION) 79

TABLE 78 MIDDLE EAST: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 79

TABLE 79 MIDDLE EAST: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 80

TABLE 80 MIDDLE EAST: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 80

TABLE 81 MIDDLE EAST: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 80

TABLE 82 AFRICA: MAGNET BEARING MARKET, BY TYPE, 2014-2023 (USD MILLION) 81

TABLE 83 AFRICA: MAGNET BEARING MARKET, BY APPLICATION, 2014-2023 (USD MILLION) 81

TABLE 84 AFRICA: MAGNET BEARING MARKET, BY END-USER, 2014-2023 (USD MILLION) 81

TABLE 85 AFRICA: MAGNET BEARING MARKET, BY SPEED, 2014-2023 (USD MILLION) 82

FIGURE 1 GLOBAL MAGNET BEARING MARKET: MARKET STRUCTURE 15

FIGURE 2 RESEARCH PROCESS OF MRFR 17

FIGURE 3 TOP DOWN & BOTTOM UP APPROACH 18

FIGURE 4 DROC ANALYSIS: GLOBAL MAGNET BEARING MARKET 20

FIGURE 5 PORTER’S FIVE FORCES ANALYSIS: MAGNET BEARING MARKET 29

FIGURE 6 ANNUAL VALUE OF CONSTRUCTION, 2010-2016 (USD MILLION) 46

FIGURE 7 TOTAL SALES SUPPORTED BY AEROSPACE & DEFENSE, U.S., 2015 (USD BILLION) 47

FIGURE 8 BRAZIL GENERATION CAPACITY, BY FUEL, 2016 (GW) 51

FIGURE 9 GERMANY: IMPORTS AND EXPORT OF BEARINGS, 2013-2016 (USD THOUSAND) 57

FIGURE 10 U.K.: VALUE OF CONSTRUCTION, 2010-2016 (USD MILLION) 59

FIGURE 11 FRANCE: IMPORTS AND EXPORT OF BEARINGS, 2013-2016 (USD THOUSAND) 61

FIGURE 12 FDI INFLOWS, ASIA-PACIFIC, 2010-2015 (USD BILLION) 71

FIGURE 13 JAPAN: IMPORT AND EXPORT OF BEARINGS, 2013-2016 (USD THOUSAND) 73

FIGURE 14 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL MAGNET BEARING MARKET, 2014-2017, (% SHARE) 84

FIGURE 15 MARKET SHARE ANALYSIS, BY KEY PLAYERS IN GLOBAL MAGNET BEARING MARKET, 2016 (% SHARE) 85