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World bearings demand to reach $42 billion in 2010.

Global demand for bearings is projected to rise 5.5 percent annually to $42 billion in 2010, accelerating from the 2000-2005 period. Bearings demand will be stimulated by a pickup in world economic growth, increased fixed investment activity, higher manufacturing production, and rising aerospace equipment and motor vehicle output. These and other trends are presented in World Bearings, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

Market advances in developing parts of the world--including the Asia/Pacific, Africa/Mideast, Eastern Europe and Latin America regions--will considerably outpace demand in the US, Western Europe and Japan. China will register the largest gains of any national market as the country continues to develop as an economic power and manufacturing and fixed investment activity climb. Market growth is also expected to be strong in India, Thailand and Brazil. Though the rate of increase will be less robust than in developing areas, bearings demand in the US, Western Europe and Japan will accelerate through 2010. Although representing mature markets, these areas--along with Australia and Canada--will remain the most intensive users of bearing products.

Industrial machinery accounted for over 50 percent of the world bearings market in 2005, and will remain dominant due to recovering global capital investment and increased output of bearings-using industrial products. Demand for bearings used in industrial machinery will rise at an above-average rate, spurred by ongoing industrialization efforts in developing parts of the world. Although demand for bearings in the motor vehicle market will benefit from rising production, overall gains in the segment will be dampened by a difficult pricing environment, as vehicle producers exert pricing pressure on suppliers.

Ball bearings comprised the largest portion of bearings shipments in 2005 and will maintain this position through 2015, due to their frequent use in a range of applications. Roller bearings, which comprised nearly 40 percent of shipments in 2005, will post similar gains to ball bearings through 2010. Although generally not substitutable, these two principal anti-friction bearing designs are both used in a broad array of industrial original equipment and aftermarket applications. As a result, growth is not expected to vary significantly between the two.

World Bearings (published 07/2006, 337 pages) is available for $5,300 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. 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 the 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.
WORLD BEARINGS DEMAND
(million dollars)

Item 2000 2005 2010

World Bearings Demand 25844 32395 42400
 North America 7465 8010 9550
 Western Europe 6214 6735 7855
 Asia/Pacific 8645 12930 18600
 Latin America 900 1240 1725
 Eastern Europe 1985 2535 3360
 Africa/Mideast 635 945 1310

 % Annual Growth
Item 05/00 10/05

World Bearings Demand 4.6 5.5
 North America 1.4 3.6
 Western Europe 1.6 3.1
 Asia/Pacific 8.4 7.5
 Latin America 6.6 6.8
 Eastern Europe 5.0 5.8
 Africa/Mideast 8.3 6.8

[c] 2006 by The Freedonia Group, Inc.
COPYRIGHT 2006 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 2006 Gale, Cengage Learning. All rights reserved.

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Comment:World bearings demand to reach $42 billion in 2010.
Publication:Research Studies - Freedonia Group
Geographic Code:1USA
Date:Dec 3, 2006
Words:569
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