Research and Markets: Bearings Market in China 2011-2015 Discusses That One of the Main Challenges in the Market Is the Lack of Effective Product Differentiation
Resource from: Research and Markets Likes:173
Nov 08,2012
TechNavio's analysts forecast the Bearings market in China to grow at a CAGR of 12.72 percent over the period 2011-2015. One of the key factors contributing to this market growth is the need for precision motion control. The Bearings market in China has also been witnessing the emergence of sensor bearing units. However, the lack of effective product differentiation could pose a challenge to the growth of this market.
Key vendors dominating this market space include C and U Group Co. Ltd, Harbin Bearings Manufacturing Co Ltd, and Luoyang LYC Bearings Co Ltd.
Other vendors mentioned in the report: Wafangdian Bearings Co. Ltd, Wanxiang Qianchao Co. Ltd, Svenska Kullagerfabriken (SKF) AB, Timken Co., Schaeffler Technologies AG and Co. KG, JTEKT Corp., Iljin Group, Daido Metal Co. Ltd, Federal-Mogul Corp., GGB Bearing Technology, GKN plc, Mahle International GmbH, Miba AG, Nachi-Fujikoshi Corp., NSK Ltd, and Rothe Erde GmbH.
Commenting on the report, an analyst from TechNavio's Engineering team said: ''In the last few years, there has been a rapid increase in the competition among bearings vendors in the market. This increase in competition has led to a decrease in the overall price of bearings. Consequently, there is an increase in price wars among the players in the market. Moreover, with the advancement of technology, the cost of developing bearings is reducing. This is also because of the large variety of vendors and their varying pricing strategies aimed at capturing significant shares in the market. Furthermore, vendors are focusing on the development of economically-priced products in an attempt to tap the Micro, Small and Medium-sized Enterprises sector.''
According to the report, one of the main drivers is the need for quality product development. Application-specific bearings are deployed across several industries for developing superior-quality products.
(Research and Markets)
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