Resurgence in Heavy Machinery Manufacturing to Drive Demand for Bearings, According to New Report by Global Industry Analysts, Inc.
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Jan 12,2015
Global bearings market is mature, given its widespread and established use in diverse manufacturing sectors ranging from aerospace, industrial machinery, automobiles to household appliances. Demand for bearings is dynamic, and is closely linked to the health of the capital goods and engineering industries. The industrial heavy machinery sector constitutes the largest end-user market, followed by the automotive sector, which accounts for close to about one-fourth of global sales of bearings. In the coming years, growth in the market will come from increased demand for bearings used in the aerospace and allied sectors.
Bearings are mainly categorized into ball bearings, roller bearings and plain bearings, with ball bearings dominating global market revenues. Angular contact ball bearings, automotive wheel hub ball bearing units, thrust ball bearings and self-aligning ball bearings represent common ball bearings in use. Roller and ball bearing assemblies in a number of sizes, designs and patterns, are extensively used in both four and two wheeled automobiles. Roller bearings is expected to outpace ball bearings as the largest product segment in the long-term. Presently, however, radial deep grove ball bearings constitutes the largest market segment. Technology innovation in the market is directed towards the development of newer materials. Most R&D projects are focused at increasing the efficiency of bearings, and manufacturing bearings specific to application requirements.
Steel, for long, has been playing a vital role in the manufacture of bearings by virtue of its strength and durability characteristics. However, with the advent of better performing materials, such as silicon nitride ceramics, use of steel is gradually declining. The global bearings market is intensely competitive with the presence of a number of established players. The large number of players operating in the market compounds pricing pressures for manufacturers thus squeezing profit margins.
As stated by the new market research report on Bearings, Asia-Pacific represents the largest and the fastest growing market worldwide, led by China. The country, over the last decade, has emerged as the largest consumer and producer of bearings in the world. However, production in China, of late, has been registering lackluster growth due to slowing down of the country’s economic growth and less-than-anticipated growth in major end-use industries. The effect of the slowdown in developed economies was also felt in emerging and developing nations like China.
Major players covered in the report include EnPro Industries Inc., Federal-Mogul Corp., igus®, JTEKT Corporation, LM-Tarbell Inc., Minebea Co. Ltd., MISUMI USA Inc., NKE AUSTRIA GmbH, NSK Ltd., NTN Corporation, RBC France SAS, Rexnord Industries, LLC, Schaeffler Technologies GmbH & Co. KG, SKF Group, General Bearing Corp., Spyraflo Inc., and The Timken Company, among others.
The research report titled “Bearings: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, challenges, product launches, and strategic corporate activity of major/niche global as well as regional players. The report provides market estimates and projections in in terms of dollars for regions including the US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), The Middle East, and Latin-America. Key segments analyzed include Plain Bearings, Ball Bearings, and Roller Bearings.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
(PRWeb)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
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