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Freedonia Market Research Analyzes Global Bearings Industry

Release time : 2015-06-15 12:07:31
Global demand for ball, roller and plain bearings is forecast to climb 6.4 percent annually through 2012 to $66 billion. Market gains will be driven by ongoing economic growth, higher manufacturing output, greater fixed investment activity and rising motor vehicle production. The aftermarket will be limited to some extent by increases in average bearing life. However, growing demand for more expensive, better performing units will provide a counterbalance, supported in part by high energy prices, which are making highly efficient bearings a more attractive investment. These and other trends, including market share and company profiles, are presented in World Bearings, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm. Product demand in developing parts of Asia, 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. China, which recently surpassed the US to become the largest national market for bearings, will account for 48 percent of all additional demand through 2012. India and Russia will also record strong gains, while increases in bearing demand in Brazil will approximate the global average. Sales growth is expected to be healthy as well in a number of lower-volume markets, including Thailand and Indonesia. 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 -- along with Australia and Canada -- will remain the most intensive users of bearing products because of the advanced industrial and technological nature of their economies. The large numbers of bearing-containing equipment in use will also help bolster aftermarket bearing demand. Bearings used in non-automotive, non-industrial machinery settings will post the most robust sales gains through 2012, benefiting from the favorable outlook for a number of products included here. Industrial machinery bearing demand is also expected to be healthy, stimulated by increases in global manufacturing activity, helping to spur associated fixed investment expenditures. The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.