Partnerships with IIoT solution providers will enhance bearing product portfolios and stimulate growth of European smart bearings markets, new research has found.
The factors for the stimulating growth of smart bearings markets include the adoption of sophisticated bearings with improved performance and demand for bearings with longer service life, higher efficiency, and lower maintenance requirements.
On the other hand, higher adoption of smart bearings is expected to reduce the replacement frequency, as smart bearings will be replaced on the basis of the actual condition of the bearing rather than on a predetermined replacement schedule, recent Frost & Sullivan research has shown.
Smart bearings have the ability to ‘self-diagnose’ impending faults and failures, and could become increasingly adopted in sectors such as aerospace and defence, wind turbines, railway and automotive.
It could also lead to bearing manufacturers to develop partnerships with IIoT businesses to provide predictive maintenance services.
Strategic imperatives for success and growth in the European bearings market include:
- Establishing close working relationships with customers during the bearing design phase;
- Developing bearings to suit the specific needs of customers;
- Creating an integrated solution approach to meet stringent on-road vehicle efficiency norms and emission standards; and
- Developing robust testing mechanisms to validate the performance of special bearings such as wash-down version bearings and heat-resistant bearings.
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