High Growth Forecasted for the World Bearings Market

LONDON, UNITED KINGDOM, Sep 02, 2008 (MARKET WIRE via COMTEX) -- Reportlinker.com announces that a new market research report related to the Industrial equipment industry is available in its catalogue.

World Bearings Market

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Global demand to rise 6.4% annually through 2012

Global demand for ball, roller and plain bearings is forecast to climb 6.4 percent annually through 2012 to $66.2 billion. Aftermarket sales gains will be limited by increases in average bearing life, reflecting the use of improved product designs, better-quality materials and better lubricants. However, growing demand for more expensive, better performing bearings will provide a counterbalance, supported in part by high energy prices, which are making highly efficient bearings a more attractive investment.

Gains to occur in both developing, developed areas

Product demand in developing parts of Asia/Pacific, Eastern Europe, Africa/ Mideast and Latin America will outpace sales in the US, Western Europe and Japan through 2012. Market advances in developing areas will be fueled by healthy economic growth, ongoing industrialization efforts and rising personal income levels, bolstering manufacturing output and fixed investment expenditures. In addition, higher living standards will help stimulate demand for automobiles and other bearing-containing durable goods, boosting both OEM and MRO bearing sales. China, India and Russia are expected to record some of the strongest gains, followed by lowervolume markets like Thailand, Indonesia, Malaysia and Romania.

Bearing demand in the US, Western Europe and Japan will rise as well. Advances will be spurred by largely favorable economic climates and higher per capita income, resulting in increased manufacturing activity and consumer spending for durable goods. Although representing mature markets, these areas will remain the most intensive users of bearing products because of the advanced industrial and technological nature of their economies, as well as the large numbers of bearing-containing equipment in use -- supporting substantial aftermarket bearing demand.