US ball, roller and plain bearing demand is projected to expand three percent annually through 2013. Gains will be supported in part by sales of high-value, large diameter bearings used in wind energy and heavy equipment markets. Ball and roller bearings will outpace plain bearings, with roller bearings posting the strongest market gains.

This study analyzes the $9.2 billion US bearings industry. It presents historical demand data for the years 1998, 2003 and 2008, and forecasts for 2013 and 2018 by bearing type (e.g., ball, roller, plain, mounted) and market (e.g., motor vehicles; machinery; engine, turbine and power transmission equipment; aerospace equipment).

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 34 industry players, including Timken, SKF and Schaeffler.

TABLE OF CONTENTS


SECTION                                                                         PAGE

                INTRODUCTION                                                      ix
                
          I.    EXECUTIVE SUMMARY                                                  1
                
         II.    MARKET ENVIRONMENT                                                 4
                General                                                            4
                Economic Environment                                               5
                    Cyclical Trends                                               10
                    Long Term Trends                                              13
                Market Dynamics                                                   14
                    OEM                                                           15
                    MRO                                                           17
                Pricing Patterns                                                  21
                Bearing Materials                                                 24
                    Steel                                                         25
                    Other                                                         26
                Technology                                                        27
                    Basic Bearing Technology                                      28
                    Recent Technological Developments                             31
                    Competitive Technologies                                      32
                Legal & Regulatory Environment                                    35
                International Environment                                         38
                    World Supply & Demand                                         39
                    US Foreign Trade                                              41
                      Imports                                                     43
                      Exports                                                     45
                      
        III.    PRODUCTS                                                          48
                General                                                           48
                Ball Bearings                                                     53
                    Precision Radial                                              57
                    Nonprecision Radial                                           60
                    Thrust & Other                                                62
                Roller Bearings                                                   64
                    Tapered                                                       68
                    Other                                                         71
                      Cylindrical                                                 73
                      Needle                                                      74
                      Spherical                                                   76
                      All Other                                                   77
                Plain Bearings                                                    78
                    Journal                                                       81
                    Spherical                                                     82
                    Thrust & Other                                                83
                Mounted Bearings                                                  83
                    Ball                                                          87
                    Roller                                                        87
                    Plain                                                         88
                Bearing Parts                                                     89
                    Balls                                                         92
                    Rollers                                                       93
                    Other Ball & Roller Bearing Parts                             93
                    Plain Bearing Parts                                           94
                    
         IV.    MARKETS                                                           95
                General                                                           95
                Original Equipment Manufacturing                                  98
                    Motor Vehicles                                               100
                      Industry Outlook                                           101
                      Bearing Market                                             104
                    Machinery                                                    107
                      Industry Outlook                                           108
                      Bearing Market                                             110
                    Engines, Turbines & Power Transmission Equipment             112
                      Industry Outlook                                           113
                      Bearing Market                                             115
                    Aerospace Equipment                                          117
                      Industry Outlook                                           118
                      Bearing Market                                             119
                    Construction, Mining & Oilfield Machinery                    122
                      Industry Outlook                                           122
                      Bearing Market                                             124
                    Material Handling Equipment                                  126
                      Industry Outlook                                           127
                      Bearing Market                                             128
                    Farm & Garden Machinery                                      130
                      Industry Outlook                                           130
                      Bearing Market                                             132
                    Other OEM Applications                                       134
                Maintenance/Repair/Operations                                    137
                    Industrial MRO                                               140
                      Sector Outlook                                             140
                      Bearing Market                                             143
                    Services MRO                                                 145
                      Sector Outlook                                             146
                      Bearing Market                                             147
                    Government MRO                                               150
                      Sector Outlook                                             150
                      Bearing Market                                             151
                      
          V.    INDUSTRY STRUCTURE                                               153
                General                                                          153
                Industry Composition                                             154
                Market Share                                                     157
                Product Development & Manufacturing                              161
                Marketing & Distribution                                         164
                Cooperative Agreements                                           166
                Financial Issues                                                 168
                Mergers, Acquisitions & Industry Restructuring                   170
                Company Profiles                                                 174
                    Advanced Green Components, see Timken                           
                    Altra Industrial Motion Incorporated                         175
                    American Roller Bearing Company                              178
                    AMSTED Industries Incorporated                               179
                    ASF-Keystone, see AMSTED                                        
                    Avon Bearings, see Kaydon                                       
                    Baldor Electric Company                                      181
                    Barden, see Schaeffler                                          
                    Bearing Inspection, see Timken                                  
                    Bosch (Robert) GmbH                                          183
                    Boston Gear, see Altra Industrial Motion 
                    Brenco, see AMSTED
                    CoLinx, see Schaeffler, SKF and Timken
                    Cooper Split Roller Bearing, see Kaydon                         
                    Danaher Corporation                                          185
                    Delta Rubber, see NN                                            
                    Delphi Corporation                                           187
                    Emerson Electric Company                                     188
                    EnPro Industries Incorporated                                191
                    Federal-Mogul Corporation                                    193
                    Formsprag Clutch, see Altra Industrial Motion                   
                    Frantz Manufacturing Company                                 195
                    General Bearing Corporation                                  196
                    GGB Bearing Technology, see EnPro
                    GKN plc                                                      198
                    Hephaestus Holdings Incorporated                             200
                    Hoover Precision Products, see Tsubaki Nakashima                
                    Hub City, see Regal-Beloit                                      
                    Iljin Group                                                  201
                    Industrial Molding, see NN                                      
                    Industrial Tectonics, see Kaydon
                    JTEKT Corporation                                            202
                    Kaydon Corporation                                           204
                    Kilian Manufacturing, see Altra Industrial Motion
                    Koyo, see JTEKT                                                 
                    Kyklos Bearing, see Hephaestus Holdings                         
                    MAHLE International GmbH                                     208
                    Minebea Company Limited                                      210
                    MPB, see Timken                                                 
                    MRC Bearings, see SKF                                           
                    myonic Holding, see Minebea                                     
                    Nachi-Fujikoshi Limited                                      213
                    New Hampshire Ball Bearings, see Minebea
                    NN Incorporated                                              215
                    NSK Limited                                                  217
                    NTN Corporation                                              221
                    Pacamor Kubar Bearings                                       225
                    Peer Bearing, see SKF                                           
                    Phoenix Bearings, see RBC Bearings
                    Rail Bearing Service, see Timken                                
                    RBC Bearings Incorporated                                    227
                    Regal-Beloit Corporation                                     231
                    Rexnord LLC                                                  232
                    Rotek, see ThyssenKrupp                                         
                    Saint-Gobain                                                 235
                    Schaeffler KG                                                238
                    Shafer, see Rexnord                                             
                    SKF AB                                                       241
                    SNR Roulements, see NTN                                         
                    THK Company Limited                                          248
                    ThyssenKrupp AG                                              250
                    Timken Company                                               251
                    Tsubaki Nakashima Company Limited                            256
                    Tuflite Composite Bearings, see Rexnord                         
                    WM Berg, see Rexnord                                            
                Additional Companies                                             258

                                                LIST OF TABLES
                                         
TABLE NUMBER                                                                    PAGE


                SECTION I -- EXECUTIVE SUMMARY
                Summary Table                                                      3

                SECTION II -- MARKET ENVIRONMENT
           1    Macroeconomic Indicators                                          10
           2    Bearing Market, 1998-2008                                         12
           3    Manufacturers' Shipments by Industry                              17
           4    Nonresidential Fixed Investment & Equipment Stock                 21
           5    Bearing Pricing Deflators                                         23
           6    World Bearing Demand by Region                                    41
           7    US Foreign Trade in Bearings                                      42
           8    US Bearing Imports by Source, 1998-2008                           44
           9    US Bearing Exports by Destination, 1998-2008                      46

                SECTION III -- PRODUCTS
           1    Bearing Supply & Demand                                           52
           2    Ball Bearing Supply & Demand                                      56
           3    Precision Radial Ball Bearing Supply & Demand                     60
           4    Nonprecision Radial Ball Bearing Supply & Demand                  62
           5    Thrust & Other Ball Bearing Supply & Demand                       64
           6    Roller Bearing Supply & Demand                                    67
           7    Tapered Roller Bearing Supply & Demand                            71
           8    Other Roller Bearing Supply & Demand                              73
           9    Plain Bearing Supply & Demand                                     80
          10    Mounted Bearing Supply & Demand                                   86
          11    Bearing Parts Supply & Demand                                     91

                SECTION IV -- MARKETS
           1    Bearing Demand by Market                                          97
           2    OEM Bearing Demand by Market                                      99
           3    Motor Vehicle Production & Shipments                             104
           4    Motor Vehicle Bearing Demand                                     107
           5    Machinery Shipments                                              109
           6    Machinery Bearing Demand                                         112
           7    Engine, Turbine & Power Transmission Equipment 
                    Shipments                                                    114
           8    Engine, Turbine & Power Transmission Equipment 
                    Bearing Demand                                               117
           9    Aerospace Equipment Shipments                                    119
          10    Aerospace Equipment Bearing Demand                               121
          11    Construction, Mining and Oilfield Machinery Shipments            124
          12    Construction, Mining & Oilfield Machinery Bearing Demand         126
          13    Material Handling Equipment Shipments                            128
          14    Material Handling Equipment Bearing Demand                       129
          15    Farm & Garden Equipment Shipments                                132
          16    Farm & Garden Equipment Bearing Demand                           134
          17    Other OEM Bearing Demand                                         137
          18    MRO Bearing Demand by Market                                     139
          19    Industrial Sector Outlook                                        142
          20    Industrial Sector MRO Bearing Demand                             145
          21    Service Sector Outlook                                           147
          22    Service Sector Bearing Demand                                    149
          23    Government Spending & Investment                                 151
          24    Government Bearing Demand                                        152

                SECTION V -- INDUSTRY STRUCTURE
           1    US Bearing Sales by Selected Manufacturers, 2008                 156
           2    Capital Spending Patterns: Selected Bearing Manufacturers        163
           3    Selected Cooperative Agreements                                  167
           4    Composite Financial Ratios: Selected Bearing 
                    Manufacturers                                                170
           5    Selected Acquisitions & Divestitures                             172
                

                                   LIST OF CHARTS
                                         
CHART NUMBER                                                                    PAGE


                SECTION II -- MARKET ENVIRONMENT                        
           1    Bearing Market, 1999-2008                                         12
           2    Bearing Pricing, 1998-2018                                        24
           3    Bearing Imports by Source, 2008                                   45
           4    Bearing Exports by Destination, 2008                              47
                
                SECTION III -- PRODUCTS
           1    Bearing Demand by Product, 2008                                   53
           2    Ball Bearings by Product Type, 2008                               57
           3    Roller Bearing Demand by Type, 2008                               68
           4    Plain Bearing Demand by Product Type, 2008                        80
           5    Mounted Bearing Demand by Type, 2008                              86
           6    Bearing Parts Demand by Type, 2008                                92
                
                SECTION IV -- MARKETS
           1    Bearing Demand by Market, 1998-2018                               97
           2    OEM Bearing Demand by Market, 2008                                99
           3    Additional Demand by OEM Market, 2013 vs. 2008                   100
           4    MRO Bearing Demand by Market, 2008                               139

                SECTION V -- INDUSTRY STRUCTURE
           1    US Market Share by Company, 2008                                 157