The global site of the UK's leading magazine for automation, motion engineering and power transmission
28 March, 2024

LinkedIn
Twitter
Twitter link

Global market is bearing up well

01 August, 2003

The global demand for bearings is likely to grow by an annual average of 5.7% in the five years to 2007 — more than twice as fast as in the preceding five years — according to a new forecast. The market analysis*, by the Freedonia Group, predicts that the world market will grow from $26.9bn last year to $35.5bn by 2007.

The most rapid growth in demand will come from developing countries as they industrialise and OEM demand rises. The more mature markets of North America, Western Europe and Japan will grow more slowly than the global average.

Industrial machinery accounts for more than half of the world bearings market. Ball bearings are the largest product sector, accounting for more than 45% of all sales, followed by roller bearings on 40%.

* World Bearings. Price $4,800.




Magazine
  • To view a digital copy of the latest issue of Drives & Controls, click here.

    To visit the digital library of past issues, click here

    To subscribe to the magazine, click here

     

Poll

"Do you think that robots create or destroy jobs?"

Newsletter
Newsletter

Events

Most Read Articles