Global: Bearing demand increases by 8.0% in 2016

According to news from New York, global bearing demand will grow at an annual growth rate of 8.0% in 2016. By then, global bearing demand will increase to US$95 billion.

Among them, the total sales of unmounted ball bearings and roller bearings in 2016 will reach US$71 billion, accounting for 75% of the total sales of bearings in 2016. Without installed sliding bearings, global sales in 2016 will increase to US$11 billion, while the total demand for housing bearings, bearing parts and combination bearings in 2016 will reach US$13 billion. Among them, the demand growth of the mature bearing market (such as Western Europe, Japan and North America) will be driven by the rebounding locomotive production and the healthy and stable investment environment. In countries where the bearing market is developing, the growth in bearing sales will be driven by the rapidly growing durable goods manufacturing industry and the improved average spending power of customers.

It is understood that bearing demand in Western Europe, Japan, and the United States (the largest bearing market) will increase beyond historical growth rates between 2011 and 2016. The level of manufacturing activity in many of these countries has plummeted between 2006 and 2011 (especially vehicle production), which has had a negative impact on related bearing sales. The recovery of the manufacturing industry will make its bearing demand much higher than the demand for bearings between 2001 and 2011. In addition, the good prospects for the export markets of industrial products and various durable goods in developing regions will help to quickly accelerate the sales of bearings.

It is reported that the motor vehicle and machinery market accounted for more than 70% of the global demand for bearings in 2011. Although these two markets still have the largest market share in 2016, bearing sales in aerospace and other applications will accelerate the pace of growth, which reduces the overall sales share of motor vehicle and mechanical bearing suppliers. Sales in all these markets will be driven by the greater export of airplanes, railway equipment, motorcycles, electronic equipment and medical equipment in developing countries, as well as the modest gains of similar products in other parts of the world.