US Bearings Market

  • August 2013
  • -
  • Freedonia
  • -
  • 282 pages

US demand to rise 4.4% annually through 2017

Ball, roller, and plain bearing demand in the US is forecast to increase 4.4 percent per year to $12.9 billion in 2017. This will be a notable improvement from the growth registered during the 2007 to 2012 period. Market advances will be supported by improved conditions in motor vehicle manufacturing, the largest market for bearings. The trend toward “insourcing” US durable goods manufacturing will create opportunities in a variety of markets.

Engine, turbine & power transmission market to grow the fastest

The engine, turbine, and power transmission equipment market will experience the fastest growth, bolstered by continued growth in the wind energy segment. The automotive market will not be far behind, outpacing overall bearing demand gains.

Bearing manufacturers will benefit from particularly strong growth in heavy truck and bus production, as these vehicles utilize more bearings (both in unit and dollar terms) than passenger cars.

Roller bearings to offer best growth opportunities

Roller bearing demand is expected to continue to outpace other product types, supported by sales of higher value, technologically advanced bearings. Roller bearings will continue to be the largest product segment, comprising over 40 percent of demand in 2017.

OEM bearing applications to outpace MRO uses

Demand for bearings in OEM applications will outpace the industry average, due to ongoing growth in US durable goods output. Many durable goods manufacturers are building or upgrading production facilities in the US, boosting demand for components such as bearings.

Increased production of machinery will stimulate gains, since these industries are heavy users of more advanced, high value bearing products.

Bearing shipments from US plants to track demand

Bearing shipments from US plants are forecast to increase 4.3 percent annually to $12 billion in 2017, approximating demand growth. Industry output will be stimulated by growth in several key domestic bearing-using industries (e.g., motor vehicles, machinery) and by rising demand in a number of export markets.

However, intense competition from bearing suppliers in lower cost countries is expected to hold back price increases. Both imports and exports will post steady gains through 2017, and the US will remain a net importer.

Study coverage

This upcoming Freedonia industry study, Bearings, is priced at $5100. It presents historical US demand data for 2002, 2007 and 2012, plus forecasts for 2017 and 2022, by bearing product and market. The study also considers market environment factors, examines the industry structure, evaluates company market share, and profiles competitors in the US industry.

Table Of Contents

TABLE OF CONTENTS

INTRODUCTION ix

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
Economic Environment 5
Cyclical Trends 8
Long Term Trends 11
Market Dynamics 12
OEM 13
MRO 17
Pricing Patterns 21
Bearing Materials 24
Steel 24
Other 26
Technology 28
Basic Bearing Technology 29
Recent Technological Developments 33
Competitive Technologies 36
Legal and Regulatory Environment 39
International Environment 42
World Supply and Demand 44
US Foreign Trade 46
Imports 47
Exports 50

III. PRODUCTS 53

General 53
Ball Bearings 57
Precision Radial 61
Nonprecision Radial 64
Thrust and Other 66
Roller Bearings 68
Tapered 73
Other 76
Cylindrical 78
Needle 79
Spherical 81
All Other 82
Plain Bearings 83
Journal 87
Spherical 88
Thrust and Other 89
Mounted Bearings 90
Ball 93
Roller 94
Plain 95
Bearing Parts 95
Balls 99
Rollers 100
Other Ball and Roller Bearing Parts 100
Plain Bearing Parts 101

IV. MARKETS 102

General 102
Original Equipment Manufacturing 104
Motor Vehicles 106
Industry Outlook 107
Bearing Market 110
Machinery 114
Industry Outlook 115
Bearing Market 117
Aerospace Equipment 119
Industry Outlook 120
Bearing Market 121
Engines, Turbines, and Power Transmission Equipment 124
Industry Outlook 124
Bearing Market 126
Construction, Mining, and Oilfield Machinery 129
Industry Outlook 130
Bearing Market 131
Material Handling Equipment 133
Industry Outlook 134
Bearing Market 135
Farm and Garden Machinery 137
Industry Outlook 137
Bearing Market 139
Other OEM Applications 140
Maintenance/Repair/Operations 143
Industrial MRO 145
Sector Outlook 145
Bearing Market 148
Services MRO 150
Sector Outlook 151
Bearing Market 152
Government MRO 155
Sector Outlook 155
Bearing Market 157

V. INDUSTRY STRUCTURE 159

General 159
Industry Composition 160
Market Share 163
Product Development and Manufacturing 167
Marketing and Distribution 169
Cooperative Agreements 172
Financial Issues 174
Mergers, Acquisitions, and Industry Restructuring 176
Company Profiles 180
ABB Limited 181
Advanced Green Components, see Timken
Altra Industrial Motion Incorporated 184
American Roller Bearing Company 187
AMSTED Industries Incorporated 188
Baldor Electric, see ABB
Barden, see Schaeffler Group
Bearing Inspection, see Timken
Bosch (Robert) GmbH 190
Boston Gear, see Altra Industrial Motion
CandU Group Company Limited 192
CoLinx, see Schaeffler Group, SKF, and Timken
Consolidated Metco, see AMSTED Industries
Cooper Split Roller Bearings, see Kaydon
Danaher Corporation 195
Delta Rubber, see NN
Emerson Electric Company 197
EnPro Industries Incorporated 201
Federal-Mogul Corporation 205
Frantz Manufacturing Company 208
General Bearing, see SKF
GGB Bearing Technology, see EnPro Industries
GKN plc 210
Hephaestus Holdings, see HHI Group Holdings
HHI Group Holdings LLC 212
Hoover Precision Products, see Tsubaki Nakashima
Hub City, see Regal Beloit
Iljin Group 213
Industrial Molding, see NN
Industrial Tectonics, see Kaydon
JTEKT Corporation 216
Kaydon Corporation 219
Kilian Manufacturing, see Altra Industrial Motion
Koyo Bearings North America, see JTEKT
Kyklos Bearing International, see HHI Group Holdings
Lubron Bearing Systems, see RBC Bearings
MAHLE International GmbH 223
Minebea Company Limited 225
MPB, see Timken
myonic, see Minebea
Nachi-Fujikoshi Limited 229
Nakatetsu Machining Technologies, see JTEKT
New Hampshire Ball Bearings, see Minebea
NMB Technologies, see Minebea
NN Incorporated 231
NSK Limited 234
NTA Precision Axle, see NTN
NTN Corporation 238
NTN-SNR Roulements, see NTN
Peer Bearing, see SKF
Phoenix Bearings, see RBC Bearings
PI Bearing Technologies, see EnPro Industries
QM Bearings and Power Transmission, see Timken
RBC Bearings Incorporated 244
Regal Beloit Corporation 249
Rexnord Corporation 251
Rotek, see ThyssenKrupp
Saint-Gobain 254
Schaeffler Group 257
Seohan-NTN Driveshaft USA, see NTN
Shanghai General Bearing, see SKF
SKF AB 261
Smith Services, see Timken
SNR Bearings USA, see NTN
SNR Roulements, see NTN
THK Company Limited 268
Thomson Industries, see Danaher
ThyssenKrupp AG 270
Timken Company 272
Tsubaki Nakashima Company Limited 279
Venture Aerobearings, see SKF
Wafangdian Bearing Group Corporation 281
Wazee Companies, see Timken
Western Precision Aero, see RBC Bearings
WM Berg, see Rexnord
ZeroDrag Racing, see SKF



LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 Macroeconomic Environment 8
2 Bearing Market, 2002-2012 10
3 Manufacturers’ Shipments by Industry 17
4 Nonresidential Fixed Investment and Equipment Stock 21
5 Bearing Price Deflators 23
6 World Bearing Demand by Region 46
7 US Foreign Trade in Bearings 47
8 US Bearings Imports by Source, 2002-2012 49
9 US Bearings Exports by Destination, 2002-2012 51

SECTION III -- PRODUCTS

1 Bearing Supply and Demand 56
2 Ball Bearing Supply and Demand 60
3 Precision Radial Ball Bearing Supply and Demand 64
4 Nonprecision Radial Ball Bearing Supply and Demand 66
5 Thrust and Other Ball Bearing Supply and Demand 68
6 Roller Bearing Supply and Demand 72
7 Tapered Roller Bearing Supply and Demand 76
8 Other Roller Bearing Supply and Demand 78
9 Plain Bearing Supply and Demand 86
10 Mounted Bearing Supply and Demand 92
11 Bearing Parts Supply and Demand 98

SECTION IV -- MARKETS

1 Bearing Demand by Market and Type 103
2 OEM Bearing Demand by Market and Type 105
3 Motor Vehicle Production and Shipments 110
4 Motor Vehicle Bearing Demand 114
5 Machinery Shipments 116
6 Machinery Bearing Demand 119
7 Aerospace Equipment Shipments 121
8 Aerospace Equipment Bearing Demand 123
9 Engine, Turbine, and Power Transmission Equipment
Shipments 126
10 Engine, Turbine, and Power Transmission Equipment
Bearing Demand 129
11 Construction, Mining, and Oilfield Equipment Shipments 131
12 Construction, Mining, and Oilfield Equipment Bearing
Demand 133
13 Material Handling Equipment Shipments 135
14 Material Handling Equipment Bearing Demand 136
15 Farm and Garden Equipment Shipments 139
16 Farm and Garden Equipment Bearing Demand 140
17 Other OEM Bearing Demand 142
18 MRO Bearing Demand by Market and Type 144
19 Industrial Sector Outlook 147
20 Industrial Sector Bearing Demand 150
21 Service Sector Outlook 152
22 Service Sector Bearing Demand 154
23 Government Spending and Investment 156
24 Government Bearing Demand 158

SECTION V -- INDUSTRY STRUCTURE

1 US Bearing Sales by Selected Manufacturers, 2012 162
2 Selected Cooperative Agreements 173
3 Composite Financial Ratios: Selected Bearing Manufacturers 176
4 Selected Acquisitions and Divestitures 178



LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT

1 Bearing Market, 2002-2012 11
2 Bearing Pricing, 2002-2022 24
3 Bearing Imports by Source, 2012 50
4 Bearing Exports by Destination, 2012 52

SECTION III -- PRODUCTS

1 Bearing Demand by Product, 2012 57
2 Ball Bearings by Product Type, 2012 61
3 Roller Bearing Demand by Product Type, 2012 73
4 Plain Bearing Demand by Product Type, 2012 87
5 Mounted Bearing Demand by Product Type, 2012 93
6 Bearings Parts Demand by Type, 2012 99

SECTION IV -- MARKETS

1 Bearing Demand by Market, 2002-2022 104
2 OEM Bearing Demand by Market, 2012 106
3 MRO Bearing Demand by Market, 2012 145

SECTION V -- INDUSTRY STRUCTURE

1 US Market Share by Company, 2012 163

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