Global demand for ball, roller and plain bearings is forecast to climb 6.4 percent annually through 2012 to $66 billion, according to The Freedonia Group, a Cleveland-based industry market research firm.
Market gains will be driven by ongoing economic growth, higher manufacturing output, greater fixed investment activity and rising motor vehicle production, adds the research firm. The aftermarket will be limited to some extent by increases in average bearing life.
However, growing demand for more expensive, better performing units will provide a counterbalance, supported in part by high energy prices, which are making highly efficient bearings a more attractive investment. These and other trends are presented in the firm's study, World Bearings.
India and Russia will also record strong gains, while increases in bearing demand in Brazil will approximate the global average. Sales growth is expected to be healthy as well in a number of
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