Regulatory reforms with concern to safety is currently being carried out for the automotive industry. This regulatory amendment, is expected to boost product demand in regions such as Asia Pacific and Europe. In 2016, the European Commission mandated the of use anti-lock braking systems (ABS) in high speed tractors (>60km/hr). They are currently reviewing, if the same should also be mandated for tractors with speed limit of 40-60 km/hr and are expected to issue a statement by 2021. This is being met by opposition from the European Agricultural Machinery association, CEMA, by stating that tractors must not be treated as automobiles
The article cited AMA's Global Sensor bearing Market Study explored substantial growth with CAGR of 5.0%. According the report, Growing Attention towards Passenger Safety Leading to Regulatory Reforms
is one of the primary growth factors for the market. Mandating of ABS Systems within the European and Asia Pacific Region
is also expected to contribute significantly to the Sensor bearing market. Overall, Motor management
applications of Sensor bearing, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.
AMAs Analyst on the Global Sensor bearing market identified that the demand is rising in many different parts of the world as "Application of IoT in Electronic Stability Control (ESC) System and Anti-Braking System (ABS)
". Furthermore, some recent industry insights like "Growing construction projects is expected to positively influence the sensor bearing market. For instance, SKF in January 2019 announced their plan to develop high quality bearing for use in tunnel boring machines (TBM)" is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Sensor bearing market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Sensor bearing market and other related sub-markets covered in the study.
o Key & emerging players in the Sensor bearing market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Sensor bearing market size is calculated using market estimation process, the Sensor bearing market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Sensor bearing market size has been validated using both top-down and bottom-up approaches.