World Bearing Demand Will Reach $76 Billion in the Next Two Years

According to the forecast report of the industry survey company on the global bearing market, the global demand for ball bearings, roller bearings and plain bearings is expected to grow at an annual rate of 8.5%, and by 2014 it will reach 76 billion U.S. dollars. The largest demand for ball bearings and roller bearings.

In 2011, the largest increase in non-pedestal bearings was mainly attributable to the increase in the production of motor vehicles and industrial machinery and the demand for OEMs and the aftermarket. The growth rate of demand for plain bearings and seated bearings without seats will also exceed the average level. Ordinary bearing demand will benefit from the increase in production of motor vehicles and industrial machinery in its main markets. Ordinary bearing design has been continuously improved, and its price is lower than that of rolling bearing, so sales can be improved. Sales of pedestal bearings have also been driven by industrial production, especially in the construction, mining and oil field markets.

Due to the continuous economic growth and the increase in investment in fixed assets of many developed countries in the world, the bearing market will experience new growth trends. In addition, with the gradual retreat of the economic crisis in 2009, the economic rebound in countries around the world, manufacturing and motor vehicle production have increased compared to the 2004-2009 (2004-2009 global vehicle production decline) data. However, the price of bearings will not increase as much as during the period of 2004-2009, but will remain stable. This is mainly due to the rationality of the prices of raw materials and the increasing international competition pressure brought by the manufacturers in the developing regions, which have stabilized the prices to a certain extent.

The strongest growth momentum in the Asia-Pacific region The report pointed out that the growth in demand for bearings in the Asia-Pacific region will perform most strongly, with China’s bearing demand ranking at the top of the annual growth rate of 12.0%. The growth in demand for bearings in China is due to the continuous advancement of its industrialization and the continuous growth of the manufacturing industry. As of 2009, China has become the largest motor manufacturing country in the world. This undoubtedly creates a great opportunity for bearing manufacturers to increase sales. The report predicts that by 2014 China’s bearing demand will account for nearly 50% of global demand, and by 2019 it will exceed the sum of the three major demand countries in North America, Western Europe, and Japan.

Judging from past developments, the growth in bearing demand in developed regions such as the United States, Western Europe, and Japan has all slowed compared with developing countries; but before 2014, this situation did not always occur in developed regions of the world. Because demand for durable goods (especially motor vehicles) in many developed countries frustrated and plunged between 2007 and 2009, demand for bearings rebounded. With the strong recovery of the motor vehicle industry and the rapid growth of durable goods manufacturing, the demand for bearings in these areas will also increase.

Considering that many everyday applications require bearings, extending bearing life and improving bearing performance to reduce run-time waste generation, reducing energy consumption is a general trend. In other words, making full use of existing machinery and reducing its impact on the environment is precisely the definition of green environmental protection.

It is also worth noting that the bearing industry has an important guiding role for engineers to develop new designs.

In this revolution, bearing manufacturers also shoulder heavy responsibilities. The teaching materials provided by them ensure the correct and efficient use of equipment by end-users, and help users and engineers understand bearing characteristics so as to achieve optimal mechanical performance. This is the ultimate interpretation of green environmental protection: Minimize human impact on the environment and achieve sustainable development.