Abstract
Global demand to rise 6.4% annually through 2012
Global demand for ball, roller and plain bearings is forecast to climb 6.4
percent annually through 2012 to $66.2 billion. Aftermarket sales gains will
be limited by increases in average bearing life, reflecting the use of
improved product designs, better-quality materials and better lubricants.
However, growing demand for more expensive, better performing bearings will
provide a counterbalance, supported in part by high energy prices, which are
making highly efficient bearings a more attractive investment.
Gains to occur in both developing, developed areas
Product demand in developing parts of Asia/Pacific, Eastern Europe, Africa/
Mideast and Latin America will outpace sales in the US, Western Europe and
Japan through 2012. Market advances in developing areas will be fueled by
healthy economic growth, ongoing industrialization efforts and rising personal
income levels, bolstering manufacturing output and fixed investment
expenditures. In addition, higher living standards will help stimulate demand
for automobiles and other bearing-containing durable goods, boosting both OEM
and MRO bearing sales. China, India and Russia are expected to record some of
the strongest gains, followed by lowervolume markets like Thailand, Indonesia,
Malaysia and Romania.
Bearing demand in the US, Western Europe and Japan will rise as well. Advances
will be spurred by largely favorable economic climates and higher per capita
income, resulting in increased manufacturing activity and consumer spending
for durable goods. Although representing mature markets, these areas will
remain the most intensive users of bearing products because of the advanced
industrial and technological nature of their economies, as well as the large
numbers of bearing-containing equipment in use -- supporting substantial
aftermarket bearing demand.
Unmounted roller bearings to be fastest growing type
Unmounted roller bearings will register the strongest market gains through
2012, driven by increased output of products such as construction and mining
machinery, conveyors, machine tools and wind turbines. Demand for mounted and
combined ball/roller bearings is also expected to climb at an above-average
rate, fueled by world economic and manufacturing sector growth, bolstering
both OEM and MRO product demand. Sales of unmounted ball and plain bearings
will expand at a somewhat slower pace, although suppliers will benefit from
increased output of items like electrical and electronic equipment, motor
vehicles and aerospace equipment.
Aerospace equipment, electronics, medical devices among best prospects
Bearings used in non-automotive, nonindustrial machinery settings will post
the most robust sales gains through 2012, benefitting from the healthy outlook
for a number of products included here, such as aerospace equipment,
electronic devices and medical instruments. Growth in industrial machinery
bearing demand is also expected to be healthy, stimulated by increases in
global manufacturing activity, helping to spur associated fixed investment
expenditures. Demand for bearings used in motor vehicle applications will rise
at a slower rate, constrained by a shift in the product mix toward smaller
cars and the greater longevity of newer bearing products.
Study coverage
This new Freedonia industry study, World Bearings, presents historical demand
data (1997, 2002, 2007) and forecasts for 2012 and 2017 by product, market,
world region and for 29 countries. The study also considers market environment
factors, evaluates market share and profiles leading competitors.
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