|By PR Newswire||
|April 9, 2014 01:59 PM EDT||
DUBLIN, April 9, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/l7bdbm/indian_bearings) has announced the addition of the "Indian Bearings Market: An Analysis" report to their offering.
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Bearings are components that reduce friction and enhance motion between objects. Known as anti-friction components, they are widely used in automobiles, pumps, gear boxes, heavy earth moving equipments and industries. The growth of the bearing industry is directly correlated with the automotive and industrial sectors. The domestic sale of bearings produced in India recorded a decline of 1.5% in 2012-2013 over previous year while the production value fell by 0.5% during the same period. The decline was on account of continued pressure of inflation, fiscal imbalances and high interest rates. Also, commercial vehicle production one of the largest consumer of bearings experienced a steep downfall in the same period.
A major portion of bearings market in India is unorganized that caters to the low-end replacement market. A significant percentage of bearings are imported from countries like Germany, Japan, China, Singapore, Sweden, France and Italy. The demand for the bearings is derived from two key user segments - the automotive and industrial sectors. The industrial market is larger than the automobile market in value terms. Total exports of bearings (ball and roller) declined by both value and volume terms in 2012-2013 compared to previous fiscal year. The slowdown in exports was on account of the recent crisis in the Euro Zone and global recession.
The market is characterized with challenges like counterfeit/spurious products, rise in prices of raw materials and growing cost pressure on Indian suppliers. The bearings industry is fairly concentrated, with the top five players contributing over 90% of overall turnover. SKF India is the leading player in the market followed by FAG Bearings, NBC Bearings and Timken India. To meet growing customer expectations, most of the bearings manufacturers have regularly invested in modern manufacturing technology and have taken a number of initiatives to strengthen their competitive advantage by partnering with customers with a focus on application engineering and R&D to develop advanced products.
Key Topics Covered:
Section 1: Indian Economy Snapshot
Section 2: Bearings - An Overview
Section 3: Indian Bearings Market
Section 4: Import and Export Statistics
Section 5: Market Trends
Section 6: Growth Drivers
Section 7: Challenges
Section 8: Competitive Landscape
Section 9: Company Profiles
Section 10: Market Outlook
Section 11: Pricing Analysis of Bearings
- ABC Bearings
- FAG Bearings India Ltd
- Menon Bearings Ltd
- NBC Bearings/NEI Ltd
- NRB Bearings
- SKF India
- TATA Bearings
- Timken India Limited
For more information visit http://www.researchandmarkets.com/research/l7bdbm/indian_bearings
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets