Global market is bearing up well
The global demand for bearings is likely to grow by an annual average of 5.7% in the five years to 2007 — more than twice as fast as in the preceding five years — according to a new forecast. The market analysis*, by the Freedonia Group, predicts that the world market will grow from $26.9bn last year to $35.5bn by 2007.
The most rapid growth in demand will come from developing countries as they industrialise and OEM demand rises. The more mature markets of North America, Western Europe and Japan will grow more slowly than the global average.
Industrial machinery accounts for more than half of the world bearings market. Ball bearings are the largest product sector, accounting for more than 45% of all sales, followed by roller bearings on 40%.
* World Bearings. Price $4,800.