MRO Magazine

Research and Markets: Global Bearings Market 2015-2019 – APAC Dominated the Market with a 50% Share in 2014 and Was Valued at $37.8 Billion in 2014


September 2, 2015
By Business Wire News

DUBLIN

Research and Markets (http://www.researchandmarkets.com/research/dvsz4g/global_bearings) has announced the addition of the “Global Bearings Market 2015-2019” report to their offering.

The global bearings market to grow at a CAGR of 7.94% over the period 2014-2019

The report, Global Bearings Market 2015-2019, has been prepared based on in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the landscape of the global bearings market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

APAC dominated the market with a 50% share in 2014 and was valued at $37.8 billion in 2014. APAC bore the least impact of the 2008 recession and this led to the emergence of several small-scale and low-cost manufacturers in developing countries such as China and India. In addition, several companies from the Americas and EMEA began outsourcing their manufacturing and production processes to low-cost destinations such as China and India. Moreover, APAC is undergoing steady growth in manufacturing activities and fixed asset investments, resulting in demand for bearings.

According to the report, we expect global economic growth to influence overall product demand both in developed and developing countries. The annual world gross output has seen a steady increase in 2014 and we expect it to increase more in 2016. We also expect the upward trend of annual world gross output to continue in the coming years. A favorable economy results in high manufacturing activity and high consumer spending on durable goods in developed countries. These countries tend to use a large number of bearing-loaded equipment. Further, sustained economic growth, government policies to accelerate industrialization, and rising disposable incomes have boosted fixed investments and manufacturing output in developing countries. This has escalated demand for automobiles, agricultural machinery, construction equipment, mining equipment and process automation machinery – all of which use bearings.

Further, the report states that a large number of counterfeit products are traded in the global market. These substandard products may cause machine breakdowns and even human casualties. These exert a negative effect on end-users’ machinery and also damage reputations in the global arena.

The report considers 2014 as the base year and estimates the global bearing market size and vendor share by considering the revenues generated from the following segments:

  • Frictional bearings
  • Anti-friction bearings
  • Journal bearings
  • Other bearings and bearings components

Key Vendors

  • SKF
  • Schaeffler
  • Timken
  • NSK
  • TNT

Other Prominent Vendors

  • JTEKT
  • Daido Metal
  • GGB Bearing Technology
  • Miba
  • Rothe Erde
  • C&U Group
  • Harbin Bearing Manufacturing
  • Wafangdian Bearing Group
  • Minebea

For more information visit http://www.researchandmarkets.com/research/dvsz4g/global_bearings

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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Sector: Automotive Parts, Machinery and Parts