Demand for Bearings in US to Reach $10.6 Billion in Five Years
Resource from: CBCC Likes:2929
Nov 03,2009
Ball, roller and plain bearing demand in the United States is projected to expand 3.0% per year through 2013 to $10.6 billion, according to a new study, Bearings, from The Freedonia Group Inc., a Cleveland-based industry research firm.
Sales increases for ball and roller bearings, including both mounted and unmounted types and associated parts, will outpace those of plain bearings, reaching $8.5 billion in 2013 (all figures are in US currency). Advances will be supported by sales of high-value, large diameter bearings as the wind energy and heavy equipment markets expand.
Continued, albeit moderating, growth in the production of aerospace equipment and machinery will also support gains.
Recovery in motor vehicle production from the low levels of 2008, particularly in heavy truck and bus manufacturing, will also benefit bearing suppliers. Market gains will be dampened, however, as US companies in a variety of bearing-using industries continue to move manufacturing operations to offshore areas where labour costs are lower.
The strongest market gains through 2013 will be posted by roller bearings, benefitting from renewed strength in US production of motor vehicles and from sales of advanced, high-value products for applications such as wind turbines and heavy machinery.
Demand for mounted bearings and bearing parts will also outperform bearing demand overall. Mounted bearing demand increases will be spurred by original equipment manufacturers’ (OEM) desires to simplify their production processes and reduce future maintenance requirements.
OEM bearing applications, which currently account for 78% of all demand, will approximate the performance of maintenance/repair/operations (MRO) applications through 2013. Sales conditions will be particularly strong in the automotive and engine, turbine and power transmission equipment manufacturing markets. MRO bearing demand will be bolstered by growing maintenance expenditures for aerospace equipment and construction machinery.
Bearings (published 09/2009, 267 pages) is available for $4,800. For further details, visit www.freedoniagroup.com.
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