Bearing Up

Global demand for ball, roller and plain bearings will climb by 6.4% a year to reach $66bn by 2012, according to a new forecast from the us market analyst, the Freedonia group.

Although the bearings aftermarket will be limited to some extent by increases in bearing life, it will counterbalanced by a growing demand for more expensive, better performing bearings, driven in part by high energy prices which are making efficient bearings a more attractive investment.

China recently overtook the US to become the world's largest national market for bearings, and will account for 48% of all additional demand in the period to 2012. India and Russia will also record strong gains. Mature markets such as the US, Western Europe and Japan will remain the most intensive users of bearing products because of the advanced industrial and technological nature of their economies. Demand for bearings for use in industrial machinery is expected to be healthy, stimulated by increases in global manufacturing activity which is helping to spur fixed investment expenditures. Unmounted roller bearings will register the strongest market gains through 2012, driven by increased output of products such as construction and mining machinery, conveyors, machine tools and wind turbines. Demand for mounted and combined ball/roller bearings is also expected to climb at an above-average rate, fueled by world economic and manufacturing sector growth, bolstering both OEM and MRO product demand. Sales of unmounted ball and plain bearings will expand at a somewhat slower pace, although suppliers will benefit from increased output of items like electrical and electronic equipment, motor vehicles and aerospace equipment.

Bearings used in non-automotive, non-industrial machinery settings will post the most robust sales gains through 2012, benefitting from the healthy outlook for a number of products included here, such as aerospace equipment, electronic devices and medical instruments. Growth in industrial machinery bearing demand is also expected to be healthy, stimulated by increases in global manufacturing activity, helping to spur associated fixed investment expenditures. Demand for bearings used in motor vehicle applications will rise at a slower rate, constrained by a shift in the product mix toward smaller cars and the greater longevity of newer bearing products.

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