Abstract
Global bearings demand to exceed $40 billion in 2010
Global demand for bearings is projected to rise over five percent annually to
over $40 billion in 2010, accelerating from the 2000-2005 period. Bearings
demand will be stimulated by an acceleration in world economic growth,
increased fixed investment activity, higher manufacturing production, and
rising aerospace equipment and motor vehicle output.
Gains in developing regions to spur growth worldwide
Market advances in developing parts of the world -- including the
Asia/Pacific, Africa/Mideast, Eastern Europe and Latin America regions -- will
considerably outpace demand in the US, Western Europe and Japan. China will
register the largest gains of any national market in dollar terms as the
country continues to develop as an economic power and manufacturing and fixed
investment activity climb. Market growth is also expected to be strong in
India, Thailand, Taiwan and Russia.
The rate of increase will be less robust than in developing areas, but
bearings demand in the US, Western Europe and Japan will accelerate through
2010. Sales growth will be spurred by generally favorable economic conditions
and higher income levels, leading to a rise in manufacturing activity,
boosting associated bearings demand. Although representing mature markets,
these areas -- along with Australia and Canada -- will remain the most
intensive users of bearings products, reflecting the advanced industrial and
technological nature of their economies.
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