Release time : 2015-06-15 10:44:30
The Needle Roller Bearings industry looks set to return to growth this year, according to a report on the subject by IMS Research.
The Americas market for ball and roller Stainless Steel Bearings - worth an estimated USD8.8bn (GBP5.9bn) in 2008 - shrank by almost 17 per cent last year.
However, the unprecedented size of the 2008 decline in US vehicle production - along with a resilient and rapidly expanding Brazilian market - should result in a swift recovery according to report author, Craig Foster.
Sales of ball and roller Water Pump Bearings are predicted to grow by 5.1 per cent in 2010, and surpass 2008 levels in 2012.
Having entered the downturn later than the Americas, European production of vehicles and machinery is expected to remain relatively flat in 2010.
Because of this, the EMEA market for bearings - worth over USD4bn (GBP2.7) more than its American equivalent in 2008 - is forecast to grow by just 0.5 per cent this year and will not have returned to 2008 levels until 2013 at the earliest.