High mechanical strength, ease of operation & manufacturing, and strong demand from wide applications are the key factors driving the growth of the global bearing market. A bearing is a simple mechanical component used in a machinery or an equipment to facilitate smooth mechanical operations through reduced friction between moving parts. Bearings have evolved from hand manufactured mechanical element to sophisticated machinery component designed with advanced tools such as CAD or CAM and manufactured with the help of industrial automation. The demand for bearings has increased significantly during latter half of the past century owing to increased adoption across wide industrial and residential applications. The bearings facilitate smooth or friction less operation of equipments and thus, extends the operational life of an equipment. Additionally, bearings contribute towards improving the efficiency of an equipment and reducing energy consumption. With expanding application base around the globe, the global bearing market is anticipated to witness prominent growth during the forecast period.
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