NEW YORK, Feb. 20, 2017 /PRNewswire/ -- Read the full report: http://www.reportlinker.com/p0934666-summary/view-report.html
Global demand for bearings - including unmounted ball, roller, and plain bearings, as well as mounted bearings and separately sold bearing parts - is forecast to climb 6.1 percent per year through 2020, accelerating from the 2010-2015 period. Market advances will be driven by increases in fixed investment spending and durable goods manufacturing activity, and supported by a shift in the product mix toward more expensive, better performing bearings.
This new Freedonia study will answer the following questions::
- Which parts of the world will see the fastest rise in bearing demand?
- Which markets or applications will provide the best opportunities for growth?
- What product types will post the strongest sales gains?
India replaces China as fastest growing bearing market
In percentage terms, India will post the fastest increase in bearing demand through 2020. India's motor vehicle and machinery markets are expected to expand substantially, bolstering related bearing demand in original equipment manufacturing applications, supporting growth in after- market bearing demand. In general, the strongest sales advances will be in the world's developing areas, with Thailand, China, and Mexico also registering particularly robust market gains through 2020.
Sales growth in a number of developed countries, most notably in Western Europe, will accelerate through 2020. The West European market for bearings has been con- strained in recent years by subpar advances in durables manufacturing output. Japan and South Korea will also register stronger advances in demand than during the 2010-2015 period, with Japan recovering from market declines recorded during this span.
Unmounted ball & roller bearings dominate other types
Unmounted ball and roller bearings will remain the dominant product types. However, sales gains for these products will be slower than expected market increases for plain bearings and mounted bearings and parts. Plain bearing sales will be supported by their low cost and innovations that will enable them to be used in markets where they have been historically limited. Mounted bearing sales will be boosted largely by the increased output of machinery.
China continues to dwarf demand in other countries
China will remain the largest bearing market in the world, because it is the largest manufacturer of durable goods globally, producing significant quantities of aerospace equipment, machinery, motorcycles, and motor vehicles, all of which utilize large numbers of bearings. In addition to being the world's leading market for bearings, sales increases in the nation will continue to outpace product demand growth globally.
Motor vehicles & machinery are largest markets
Motor vehicles and machinery are the two largest markets for bearings. Each of these markets utilizes an array of bearing products. However, the fastest increases in future bearing demand will come from the smaller, but still significant aerospace and motorcycle markets, with the most pronounced advances coming in the motorcycle market. Motorcycle production, especially that of electric bikes, will pick up significantly through 2020.
World Bearings presents historical data (2005, 2010 and 2015) plus forecasts (2020 and 2025) for supply and demand, as well as demand by product (ball, roller, plain, others, parts) and by market (motor vehicles, machinery, aerospace equipment, motor- cycles). The study also considers key market environment factors, evaluates company market share and profiles 38 global competitors.
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