Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Magnet Bearings Market Research Report – Forecast

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More information from: https://www.marketresearchfuture.com/reports/5940
Magnet Bearings Market Research Report – Forecast to 2023
Report / Search Code: MRFR/IA - E/4484-CRR
Publish Date: April, 2018
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Global Magnet Bearings Market Information Type (Active
Magnet Bearing, Passive Magnet Bearing, and Hybrid Magnet
Bearing), Application (Compressor, Turbine, Pumps, Motors,
Generators, and Others), End-User (Oil & Gas, Petrochemicals,
Power, Others), Speed, And Region - Forecast To 2023
Market Synopsis
Magnetic Bearings are essential devices used to levitate objects using
magnetic forces. Some magnetic bearings offer complete non-contact
support of an object, whereas others provide partial support with more
traditional mechanical bearings. Such bearings are used in applications
such as compressors, turbines, pumps, and motors.
The global magnet bearings market is expected to grow moderately and
register a value CAGR of 4.14% over the forecast period. Some of the
prominent drivers supporting the growth of global magnet bearings
market are cost-effectiveness, energy-efficient flexible solutions, and
increasing application in HVAC, aerospace, & defense. However, the
economic slowdown in China is the restraining factor for the magnet
bearings market.
The Navy Technology Validation Program conducted three magnetic
bearing chiller retrofits as a demonstration project between 2005 and
2007. The installations resulted in 40-65% power savings over the
original equipment, and reduced maintenance costs when compared to
the traditional positive-displacement water-cooled chillers. The magnetic
bearings enable the compressor to work without the use of oil for
lubrication, which reduces energy loss. This happens due to friction and
improves the heat transfer efficiency of the chiller, as no oil enters the
evaporator or the condenser. It has been a long time since oil-free
magnetic bearing centrifugal compressors have entered the HVAC
market. Magnetic-bearing centrifugal chillers make use of permanent
magnets synchronous compressor motors. Such motors have enabled