Auto, aerospace sectors to drive world bearings market

GIA forecasts the global bearings market to reach US$101 billion by 2018. Key end user sectors, including industrial machinery and automotive, would continue to drive the bearings market. The two segments account for a lion’s share of the global bearings market. Though demand for bearings used in the aerospace and allied sectors would also record growth, encroaching upon the market share of motor vehicle and machinery sectors, the latter two sectors would continue to have the largest share of the bearings market. All the three end-use sectors, namely industrial, automotive, and aerospace would primarily be driven by the increased manufacture of rail equipment, electronic devices, aircraft, and motorcycles in the developing regions.

The global bearings market is intensely competitive with the presence of a number of established players. The large number of players operating in the market compounds pricing pressures for the manufacturers, inevitably squeezing profit margins. Major players profiled in the report include EnPro Industries Inc., Federal-Mogul Corporation, JTEKT Corporation,  NSK  Ltd., NTN Corp., igus, LM-Tabell Inc., Minebea Co., Ltd., Misumi USA Inc., RBC France SAS, Schaeffler Technologies, SKF Group, The Timken Company and Spyraflo Inc.