Table of Contents
Growing Demand for Lubrication-free Solutions in the Food and Beverage Industry Fuels Market Growth
This research service analyses the trends in the global industrial bearings and couplings market. It provides an analysis of the key challenges, drivers and restraints in the market, and their impact for the forecast period. Market forecasts in terms of end users, geography and product segments are provided. A comprehensive analysis of the market share for each product on a regional basis is also included and the key factors influencing this oligopolistic market are discussed.
Executive Summary—Key Findings
-The global industrial bearings and couplings market was estimated at $ billion in 2013, with bearings accounting for % of the revenue.
-While growth in developed economies is expected to witness slow recovery over the forecast period, demand in high-growth regions such as China, India, Brazil, Russia and the Eastern European countries is expected to bolster market growth.
-The product maturity of industrial bearings hinders market growth significantly, with a declining number of innovative solutions.
-The lack of new potential applications further hampers the growth prospects.
-The mining industry in Africa and the material handling sector in the Middle East are likely to be the fastest-growing markets for bearings and couplings, and are expected to sustain market growth over the forecast period.
-In developed economies, particularly Europe and North America, financial instability and restricted capital expenditure across end-user industries has significantly restricted market growth and also increased dependency on low-cost imports of the products.
-The global industrial bearings and couplings market is expected to grow at a compound annual growth rate (CAGR) of % to generate a revenue of $billion in 2018.
Executive Summary—CEO’s Perspective
1 Increasing labor cost and declining exports are likely to alter the bearings and couplings market landscape in China.
2 Focus on improving energy efficiency is likely to bolster demand for magnetic bearings and couplings in the long term.
3 Looking beyond BRIC, strategic expansion into Mexico, Indonesia, Nigeria and Turkey (MINT countries) are expected to provide growth opportunities.
4 With product technology reaching maturity, customers look for value-added services as a key purchase criterion.
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