Dublin, Ireland – According to a new report, the bearings market in the US has faced a slowdown for almost half a decade and has encountered a loss of a massive $7.6 billion in revenues. However, the market now is projected to expand 3% annually through 2015. So says the ‘US Bearings Market’ from Research and Markets.
Here are some highlights from the research: Gains will be supported in part by sales of high-value, large diameter bearings used in wind energy and heavy equipment markets. Ball and roller bearings will outpace plain bearings, with roller bearings posting the strongest market gains. Major end-user industries such as automotive, consumer, agricultural, construction equipment, and steel and paper would continue to shape the fortunes of the bearings 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. Demand for mounted bearings and bearing parts will also outperform overall bearing demand.
Sales of bearing parts will be driven by increases in the number of bearing containing products (aircraft, automobiles, industrial equipment, etc.) in use and by demand for the improved performance associated with more advanced parts.
The biggest players in the industry are NTN Bearing Corp. of America, SKF Group, Koyo Bearings USA, The Timken Company, ASB Bearings, Schaeffler Technologies and Minebea.
According to the report, these companies differentiate their products through certain mechanisms, such as intelligent products with sensors, customized products, and value-added systems with high service.
Bearing companies have reduced their capital intensity by decreasing vertical integration, increasing outsourcing, and improving just-in-time manufacturing.
Demand for bearings in wind turbines has been witnessing significant growth over recent years and the trend is projected to continue further in the years to follow. Increasing concerns over global warming have compelled many governments worldwide to seek alternative clean sources for generating energy, and towards this end, wind energy is fast gathering popularity.
MRO bearing demand will be bolstered by continued increases in government spending and by a rebound in residential construction expenditures.
The report covers the following:
– A statistical analysis of the US bearings industry.
– Analysis of the demand for bearings segmented according to products. Segments analyzed include ball bearings, plain bearings, roller bearings, and other bearings and bearing parts.
– Industry trends, import/export scenario, technological developments in the industry, materials used for the manufacturing of bearings, and the industry structure are analyzed.
– Markets analyzed in this research report include the market for maintenance/repair/operations (MRO), and the original equipment manufacturing market. The OEM market is further segmented into motor vehicle OEM markets and other OEM markets.
– Major players are analyzed in this report through a company overview, analysis of business segments, presence in the market, and a SWOT analysis.
– Industry forecast for the US bearings market includes a forecast for all the products as well as each market that utilizes bearings.
Companies mentioned in the report include: ABB Ltd., Emerson Electric, Federal-Mogul Corp., General Bearing Corp., JTEKT Corp., Kaydon Corp., Minebea Co. Ltd., NSK Ltd., NTN Corp., RBC Bearings Inc., Schaeffler Technologies, SKF AB and The Timken Company.
The cost for a pdf of the report is 347 Euros. For more information visit http://www.researchandmarkets.com/research/f44a17/us_bearings_market