Low Temperature Bearings Industry Is Expand at a CAGR of 5.8% to Reach US$ 0.8 billion by 2031
The global low temperature bearings market was valued at US$ 0.4 billion in 2021 and it is anticipated to grow up to US$ 0.8 billion by 2031, at a CAGR of 5.8% during the forecast period.
New York, Global Low Temperature Bearings Market report from Global Insight Services is the single authoritative source of intelligence on Low Temperature Bearings Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Low-temperature lubricated bearings are suitable for use in refrigerated store equipment, ski resort equipment, snow removal and tractor equipment, gas equipment, and other applications. Low temperature bearing refers to reducing the friction coefficient by designing special materials and structures to reduce friction heating and keep the low bearing temperature during prolonged operation. Low temperature bearing is not a bearing that operates steadily in high temperature environments equivalent to high temperature bearing.
Low-temperature bearings are those with a working temperature of less than -60 C. It is primarily utilized in a variety of liquid pumps, including those for liquefied natural gas, butane, liquid nitrogen (hydrogen, oxygen), and rocket and missile propulsion systems.
Major Players in the Global Low Temperature Bearings Market
The key players studied in the global low temperature bearings market are Carter Bearings(UK), DuPont (U.S), GEBR. Reinfurt GMBH and CO KG(Germany), Marc Bearings(India), NBC Bearings(India), Nachi-Fujikoshi (Japan), SKF Group(Sweden), Swiss Jewel Company(US), Timken Company(U.S), and ZYS Bearing Research Institute Co. Ltd(China).
Market Drivers and Trends
The global low temperature bearings market is being driven by high demand for aerospace and manufacturing industries, as well as increased demand for low-temperature bearings across the Liquid Natural Gas value chain. Ultra-Low Temperature Bearings are patented special ultra-low temperature grease with a high viscosity and a low pour point that can be used in a variety of low-level applications.
October 2022, Carter will open a new European logistics hub to supply products directly to the European Union.
June 2022, ZYS completed a successful trial run of their precision bearing intelligent production line.
May 2022, SKG Group announced the development of deep-groove ball bearings for the food and beverage industry. This bearing contains food-grade grease and an integral seal that do not require lubrication, resulting in a longer machine lifetime.
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