Active Magnetic Bearing Market Size, Share, Growth, and Industry Analysis, By Type (Analog Control, and Digital Control), By Application (Motors, Blowers, Compressors, Pumps, Generators, Turbines, Turbo expanders, and Others), Regional Insights and Forecast To 2032

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ACTIVE MAGNETIC BEARING MARKET REPORT OVERVIEW

global active magnetic bearing market size was USD 0.30 billion in 2023 and market is projected to touch USD 0.53 billion by 2032 at CAGR 6.3% during the forecast period.

An active magnetic bearings (AMBs) are high-tech device used in machinery to suspend rotating objects such as shafts, without any physical contact. Instead of traditional bearings that rely on friction, these magnetic bearings use powerful electromagnets to control the position of the rotating object. These bearings are often found in advanced machinery such as turbines, generators, and high-speed rotating equipment. They offer advantages like reduced maintenance, increased efficiency, and smoother operation due to their ability to precisely control the position and movement of the rotating parts.

The market for this product is steadily growing as industries seek more efficient and reliable solutions for their machinery. With increasing demand for high-performance equipment in sectors like manufacturing, power generation, and aerospace, the need for advanced bearing technology is on the rise. AMDs provide a cutting-edge solution to many challenges faced by traditional bearing systems, driving their adoption across various industries. As technology continues to advance and the benefits of AMDs become more apparent, the market is expected to expand further, offering opportunities for innovation and growth.

COVID-19 Impact: Market Growth Decreased by the Pandemic due to Lockdown Restrictions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a significant impact on AMDs and their market. With restrictions on movement and economic slowdowns, industries that heavily rely on these bearings, such as manufacturing and aerospace, faced disruptions in production and demand. The pandemic-induced supply chain challenges also affected the availability of raw materials and components needed for manufacturing magnetic bearings. As a result, the market experienced fluctuations and uncertainties, highlighting the vulnerability of industries to global crises like the COVID-19 pandemic.

LATEST TRENDS

"Technological Advancement Leads to Market Growth"

AMBs are gaining momentum as a cutting-edge trend in engineering. These bearings use magnetic fields to levitate rotating machinery, eliminating the need for physical contact and lubrication. This reduces maintenance costs and improves efficiency. In recent years, AMBs have found applications in various industries such as energy, aerospace, and manufacturing. As technology advances, the market for AMBs is expected to grow substantially due to their ability to enhance performance and reliability in high-speed rotating equipment.

ACTIVE MAGNETIC BEARINGMARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Analog Control, and Digital Control.

• Analog Control: It involves utilizing continuous signals for regulating the magnetic fields to maintain stability and control rotor position.

• Digital Control: Employs discrete signals and digital processing techniques for precise and efficient management of magnetic forces in AMD systems.

By Application

Based on application the market is classified into Motors, Blowers, Compressors, Pumps, Generators, Turbines, Turbo expanders, and Others.

• Motors: Used in motors to provide frictionless support, reducing wear and improving efficiency.

• Blowers: Ensure smooth operation, minimizing vibration and enhancing performance.

• Compressors: Offer precise control over rotor position, leading to increased reliability and energy efficiency.

• Pumps: Eliminate the need for lubrication, enhancing reliability and reducing maintenance requirements.

• Generators: Enable high-speed rotation with minimal friction, improving efficiency and reliability.

• Turbines: Support high-speed rotation, allowing for precise control and efficient energy conversion.

• Turbo expanders: Enable efficient expansion of gases, offering precise control and minimizing losses.

DRIVING FACTORS

"Exceptional Performance Leads to an Increase in Market Demand"

AMBs are gaining traction in various industries due to their exceptional performance and reliability. One major driving factor propelling the active magnetic bearing market growth is their ability to eliminate friction entirely. Traditional bearings rely on physical contact between surfaces, leading to wear and tear over time. In contrast, AMBs use magnetic fields to suspend rotating components, reducing friction to virtually zero. This not only prolongs equipment lifespan but also enhances efficiency by minimizing energy losses associated with friction.

"Growing Demand for High Speed Machinery Accelerates Market Growth"

Increasing demand for high-speed and high-precision machinery is a one of the driving factors of the market. AMBs excel in applications where precise control of rotational motion is critical, such as turbo-machinery, centrifugal compressors, and high-speed turbines. Their ability to provide stable levitation and control over rotor position makes them ideal for demanding industrial environments where accuracy and reliability are paramount. As industries continue to seek improvements in productivity and performance, the versatility and precision offered by AMBs make them a compelling choice for a wide range of applications.

RESTRAINING FACTORS

"High Initial Cost Slows Down the Market Growth"

The primary restraint facing the active magnetic bearing market is its high initial cost. Setting up AMB systems requires significant investment in both equipment and skilled labor. This cost can deter potential buyers, especially those operating within tight budgets or industries with lower profit margins. Additionally, the complexity of these systems may pose challenges for installation and maintenance, further increasing overall expenses. As a result, despite their numerous advantages, such as reduced friction and maintenance requirements, the high upfront expenses remain a key obstacle to widespread adoption of AMB technology.

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ACTIVE MAGNETIC BEARING MARKET REGIONAL INSIGHTS

"North America to Dominate the Market due to its Strong Industrial Sector"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is dominating the economy with the largest active magnetic bearing market share. This is due to advanced technological infrastructure and a robust industrial sector. North America's strong emphasis on research and development fosters innovation in magnetic bearing technologies, driving market growth. Additionally, the presence of key market players and favorable government initiatives further propels the adoption of AMBs in various industries such as manufacturing, energy, and aerospace. As a result, North America emerges as the leading region in the active magnetic bearing market.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

In this market, key players include those specializing in advanced engineering solutions for rotational machinery. These companies develop cutting-edge technologies that employ magnetic fields to suspend rotating components, eliminating the need for traditional mechanical bearings. They focus on innovation, reliability, and efficiency, catering to various industries such as aerospace, power generation, and industrial manufacturing. Through continuous research and development, these players aim to enhance performance, reduce maintenance costs, and improve overall system reliability, driving growth and adoption of this technology worldwide.

List of Top Active Magnetic Bearing Companies

• SKF (Sweden)
• Waukesha Bearings (U.S.)
• Schaeffler (Germany)
• Siemens (Germany)
• KEBA Industrial Automation (Austria)
• Zeitlos(Germany)
• Kazancompressormash (Russia)
• Synchrony(U.S.)
• FG-AMB (China)

INDUSTRIAL DEVELOPMENT

October 2023: SKF has opened its latest manufacturing plant in Monterrey, Mexico, with a greenfield factory investment of SEK 700 million. This will satisfy customer needs as the emphasis on electrification grows and assist SKF's strategic development in the Americas.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence the market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.