Global bearings demand to rise 8% through 2016

In mature bearing markets (such as Western Europe, Japan, and North America) growth in demand will be driven by rebounding motor vehicle production and a healthy fixed investment environment. In nations where the bearing market is developing, sales will increase on rapidly increasing durable goods manufacturing and the improving ability of the average consumer to purchase items such as motor vehicles and appliances - boosting demand for these goods both from manufacturers and in the aftermarket.

Strong exports to aid developing region gains Demand for bearings in Western Europe, Japan, and the U.S. - historically the largest markets - will expand at above historical rates between 2011 and 2016. In many of these countries the level of manufacturing activity plummeted during the 2006-2011 period (especially motor vehicle output), dragging associated bearing sales downward. As manufacturing recovers to pre-decline levels, gains in bearing demand will be well above those posted in the 2001-2011 period, due partially to the extremely low levels of demand in 2011. In addition, promising export markets in the developing world for industrial products and a variety of durable goods will aid in the rapid acceleration of bearing sales to original equipment manufacturers.