Bearing Market Research Reports, Analysis & Trends
The demand for bearings is dynamic because the bearings are closely linked to global GDP trends through extensive use of means for production and engineering. However, because of the financial crisis that began in 2008, the turnover in the market dipped seriously both in turnover and in types. Despite the attempts of recovery in 2010, as well as beginning of 2011, combined with the debt problems of the Euro area, the slow recovery of the U.S. economy and the contraction of the Japanese economy; the growth prospects of the bearing industry began to restrain in 2012. This negative effect of reduced growth in major developed countries seeped in emerging economies such as China and India. The largest product segment for the industry in 2013 will be ball bearings. A ball bearing is a type of rolling-element bearing which uses balls to maintain the separation between the moving parts of the bearing. The purpose of a ball bearing is to reduce rotational friction and support radial and axial loads. It achieves this by using at least two races to contain the balls and transmit the loads through the balls. The major end-user industries such as automotive, construction equipment, agricultural, consumer and steel and paper continue to shape the fortunes of the bearings market.
Bearing Industry Trends
Major Bearing Industry Players