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The world market for anti-friction bearing products is projected to increase nearly 7 percent per year through 2003 to over $40 billion, an improvement over the mid/latter 1990s performance.

The world market for anti-friction bearing products is projected to increase nearly 7 percent per year through 2003 to over $40 billion, an improvement over the mid/latter 1990s performance. Fueling gains will be a brightening economic outlook and accelerating capital investment in most developing regions, as the global financial crisis appears to have passed its most critical point. This is significant, since many of the countries most directly affected by the crisis - Indonesia, Malaysia, South Korea, Thailand, Brazil, etc. - were previously among the world's fastest growing markets as bearings requirements rose rapidly with rising industrialization. These and other trends are presented in World Bearings, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.

Supply and demand for different bearing designs - ball, roller, etc. - can vary based primarily upon the types of applications most prevalent in the country's industrial sector. But because each of the major anti-friction bearing designs (i.e., ball and roller, with other types tending to be derived from the major designs) is used in such a wide and diverse array of settings, most countries that comprise significant bearing markets (i.e., over about $100 million per year in annual sales) utilize both types in relatively large amounts.

While the industrialized nations tend to exhibit the largest and most mature (and thus most cyclical) bearings markets, the fastest growing markets are usually found within the developing nations of Asia, Latin America and (to a lesser extent) Africa/Mideast. Many such countries have been reforming and liberalizing their economies in recent years, in order to attract external investment capital and develop and expand their industrial sectors.

Industrial machinery applications dominate the world bearings markets, accounting for over half of total global demand. Industrialization programs in developing countries tend to involve substantial amounts of such machinery, and while in many cases these countries import machinery already incorporating bearings, the aftermarket tends to be sizable. The motor vehicle sector comprises the second largest application for anti-friction bearings in value terms, although it is far smaller than its industrial machinery counterparts. Automobiles, trucks, and buses utilize an extensive quantity of bearings on a per-vehicle basis. With most automotive-related bearings demand being OEM in nature, demand will be adversely impacted by rather sluggish growth in world motor vehicle production going into the early years of the new century.

World Bearings (published 7/99, 283 pages) is available for $4200 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail pr@freedoniagroup.com. Full text is also available online through commercial database companies and the www.freedoniagroup.com Web site.

Please attribute information from this news release to The Freedonia Group (Cleveland, OH) and include, if possible, the price of the report. We would also appreciate a copy of the article or publication in which we appear.
COPYRIGHT 1999 Subscription: $00.00 per year as of 1/94. Published irregularly. Contact Freedonia Group, 3570 Warrensville Cente
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999 Gale, Cengage Learning. All rights reserved.

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Comment:The world market for anti-friction bearing products is projected to increase nearly 7 percent per year through 2003 to over $40 billion, an improvement over the mid/latter 1990s performance.
Publication:Research Studies - Freedonia Group
Geographic Code:00WOR
Date:Jul 1, 1999
Words:488
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