Unmounted ball and roller bearings will account for nearly three-quarters of total world bearings
sales, with the market for these products reaching more than $71 billion.
Global demand to rise
7.8% yearly through 2016
Global demand for bearings is projected
to grow 7.8 percent annually to $96
billion in 2016. Unmounted ball and roller
bearings will account for nearly threequarters
of total sales, with the market
for these products reaching more than
$71 billion. Sales of unmounted plain
bearings will rise to $12 billion in 2016,
while aggregate demand for mounted
bearings, bearing parts, and combination-
type bearings will be nearly $13
billion.
In mature bearing markets (such
as Western Europe, Japan, and the US),
growth in demand for bearings will be
driven by rebounding motor vehicle
production and a healthy fixed investment
environment. In nations where the
bearing market is still developing, sales
will rise on rapidly increasing durable
goods manufacturing output and the improving
ability of the average consumer
to purchase items such as appliances
and motor vehicles, thereby boosting
bearing demand from manufacturers of
these goods and in the aftermarket.
Asia/Pacific region to
post fastest market gains
The Asia/Pacific region will post the
fastest gains of any region between 2011
and 2016 -- climbing an average of 10
percent per year to $54 billion in bearing
sales and accounting for more than half
of the world total. Demand in China will
rise fastest among the major markets in
the region. Bearing sales in the country
are expected to increase nearly 13
percent annually, stimulated by rapidly
expanding motor vehicle and machinery
production, combined with a strong
aftermarket in industrial equipment and
motor vehicle repair. In 2016, bearing
sales to customers in China will account
for one-third of the world total, and by
2021 the market will exceed those in
North America and Western Europe
combined.
Demand in largest mature
markets to accelerate
Demand for bearings in Japan, the
nations of Western Europe, and the
US -- the largest mature markets -- will
expand faster than it did during the
2006-2011 period. In most of these
countries, manufacturing activity --
especially motor vehicle output --
plummeted between 2007 and 2009,
before strengthening in 2010 and 2011.
Bearing demand followed the same
pattern, falling between 2007 and 2009
before turning upward in 2010 and 2011.
As manufacturing output continues to
recover, gains in bearing demand will be
well above those posted during the
2001-2011 period, due partially to the
modest levels of sales in 2011. Growing
needs for industrial products and a
variety of durable goods in the developing
world will aid in the rapid acceleration
of bearing sales to original equipment
manufacturers operating in Japan, North
America, and Western Europe.
Study Scope
This study analyzes the $65.9 billion world bearings industry, with forecasts for 2016 and 2021 by product (e.g., ball bearings, roller bearings, plain bearings), market (e.g., motor vehicles, machinery, aerospace equipment), world region and for 30 countries.
The study also considers market environment factors, details industry structure, evaluates company market shares and profiles 35 industry players, including SKF, Schaeffler and Timken.
