Global bearing demand will hit $66bn by 2012
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.
