The Global Bearings Market is expected to reach USD 117.27 billion by 2020, according to a new study by Grand View Research, Inc. Growing need to address energy efficiency in several application areas is expected to drive the bearings market. Technological advancements along with investments in R&D activities are also expected to drive market demand over the forecast period. Development of seal technologies, light weight elements in high performance bearings and lubrication technologies offer several market growth opportunities. The aforementioned technologies exhibit high energy efficiency characteristics. Bearings help reduce energy consumption by reducing friction between several mechanical components in a wide range of industrial equipments and machinery. For example, the new E2 bearings developed by SKF are reported to help reduce friction significantly.
http://www.grandviewresearch.com/industry-analysis/bearings-market
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