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WORLD BEARINGS DEMAND FORECAST TO GROW 6.5% PER YEAR THROUGH 2005.

The world market for anti-friction bearing products is forecast to grow 6.5 percent per year through 2005 to US$42 billion. Much of the growth will reflect the rising average prices of bearings, due to improved quality. The Asian bearings market is expected to perform well, with the large markets of China and India projected to see some of the best growth in the world. Although Japan will post below world average gains, it will moderately outpace other developed regions as its economy recovers from a recession-riddled decade. These and other trends are presented in World Bearings, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.

Strongest regional gains in bearings consumption are expected in Latin America and Eastern Europe, although they will remain relatively small players on a global level. North America and Western Europe will see the weakest gains in bearings demand through 2005, largely a result of their mature markets as well as slow-growing bearings-consuming sectors such as motor vehicles and industrial machinery.

The two principal anti-friction bearing designs -- ball and roller-- each find use in a broad array of industrial original equipment and aftermarket applications. As a result, per annum growth prospects do not vary significantly between the two. In addition, while basic bearing technology is well-established and well-understood, there is some potential for performance-enhancing product differentiation, along such parameters as "smart bearings" (which incorporate electronic sensors) and nontraditional materials of construction (e.g., plastics, ceramics, advanced alloys and the like).

The world bearings industry will undergo further restructuring and downsizing, notwithstanding the extensive amount of consolidation that has already occurred over the past several years. Despite expected improvement in underlying business fundamentals, global bearings suppliers will continue to operate in an environment of overcapacity which must be rationalized, and price competition is likely to remain intense.
WORLD BEARINGS DEMAND
(million US dollars)

 % Annual Growth

Item 1995 2000 2005 00/95 05/00

Bearings Demand 23782 30400 41665 5.0 6.5
 North America 6411 7410 9365 2.9 4.8
 Western Europe 5781 7595 9595 5.6 4.8
 Asia/Pacific 8448 11750 17145 6.8 7.8
 OtherWorld 3142 3645 5560 3.0 8.8

[C] 2001 by The Freedonia Group, Inc.



World Bearings (published 7/2001, 278 pages)is available for $4,500 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 646.0484 or e-mail pr@freedoniagroup.com. Information may also be obtained through www.freedoniagroup.com.

A limited license to use or reprint information from this news release is granted to you provided attribution for same -- including, if possible, the price of the report -- is given to The Freedonia Group, Inc. (Cleveland, OH). We would also appreciate the courtesy of receiving a copy of the article or publication in which we appear.
COPYRIGHT 2001 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 2001 Gale, Cengage Learning. All rights reserved.

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Title Annotation:International Pages; World market for ball bearings to grow 6.5% per year through 2005 to $42 bn
Comment:WORLD BEARINGS DEMAND FORECAST TO GROW 6.5% PER YEAR THROUGH 2005.(World market for ball bearings to grow 6.5% per year through 2005 to $42 bn)(International Pages)
Publication:Research Studies - Freedonia Group
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 26, 2001
Words:482
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