Economic Revival and Surge in Automobile Production Trigger Robust Demand for Global Bearings Market, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on bearings market. The global market for bearings is poised to reach US$70.4 billion by 2017, driven by recovery in automobile production, economic turnaround and increasing demand from developing markets of Asia, Latin America and parts of Eastern Europe. In future, major end-use industries, such as automotive, consumer, agricultural, construction equipment, steel and paper would continue to shape the fortunes of the sector.

Bearings: A Global Strategic Business Report

Follow us on LinkedIn – Demand for bearings, a vital component of machinery in various industries, is directly related to industrial growth. In terms of end-use industries, demand for products such as linear bearings used in electronics industry was lackluster in the recent past. Market conditions such as competition among major domestic and global players, rise in prices of raw materials, and other factors have played a major role in influencing demand. Rebound in global economies, growth in capital expenditure, and increasing automotive production, are the key factors that are expected to influence future demand in the bearings market Major end-use industries, such as automotive, consumer, agricultural, construction equipment, and steel and paper would continue to shape the fortunes of the sector.

Industrial machinery continues to dominate bearings demand on the strength of recovery in global capital expenditure, and growing output of industrial products that use bearings. Global recovery in Automobile production and rebound in aerospace sector is expected to spur further market growth. Among the end-use segments, industrial OEM segment accounted for the largest share of about 40% of the overall sales of bearings in 2010. Growth in bearings market is directly proportional to the global industrial production. Stable pricing by manufacturers and high purchasing power of customers is improving inter-industry competition. Companies differentiate products through certain mechanisms, such as intelligent products with sensors, customized products, and value-added systems with high service.

Following the recent economic cataclysm, the global market for bearings is expected to surge through to 2015. Growing industrialization is expected to spur demand from OEMs. In the developed world, recent years have been marked with slump in manufacture of durable goods, such as automobiles that have severely affected the demand for bearings. However, production of durable goods and automobiles in developed markets is expected to surge in the following years, providing significant boost for bearings manufacturers. Growth in the developed markets would be in supplement to the robust growth in end-use segments in developing markets, primarily China. The country ranked as the largest automobiles manufacturer worldwide in 2011, has been retaining the leadership position for the last several years, outpacing United States, the traditional market major.

Asia-Pacific powered by dynamic markets of China and India represents the largest and fastest growing market for bearings, as stated by the new market research report on Bearings. The Asia-Pacific market is projected to surge at a robust CAGR of over 6% through 2017. In addition, the global bearings market is anticipated to grow rapidly in Eastern Europe, Latin America and Middle East regions. Market growth in North America and Western Europe is likely to be limited due to slower pace of motor vehicle production. Ball Bearings comprises the largest and fastest growing segment of the bearings market. Commonly used varieties include the deep grooved type, specifically for light radial loads. Roller bearings comprise the other significant bearing variety, largely used in the automotive sector.

The global bearings market is dominated by three players including SKF Group, Schaeffler Technologies, and NSK Limited. Some of the other major players include Federal-Mogul Corporation, General Bearing Corporation, Kaydon Corporation, JTEKT Corporation, Minebea Co., Ltd., NTN Corporation, The Timken Company, among others.

The research report titled “Bearings: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the bearings market, current market trends, impact of recession on the market, key growth drivers, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections in value terms for bearings market for the years 2009 through 2017 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America. Key segments analyzed include Plain Bearings, Ball Bearings, Roller Bearings, and Others (Air Bearings, Magnetic Bearings, Gas Bearings, and Hydrostatic Bearings among others). The study also provides historic data for an insight into market evolution over the period 2003 through 2008.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Bearings_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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