The Magnetic Bearing Market Research Report provides Industry analysis and evaluation of the current & prospective Market Size, Share, Trend and Growth during the study period 2016–2023. A magnetic bearing is a bearing that supports the moving parts of a machine or equipment without any physical contact. They are able to provide relative motion of the machinery with very less friction and no wear and tear. They are used in several industrial applications such as power generation, petroleum refinery, semiconductors, natural gas handling, machine tool operation, etc. The advantages of magnetic bearings are very low friction, can be used in vacuum and the ability to run without any lubrication. They are used in machines such as turbines, motors, compressors, generators, pumps etc.