Outlook and Future Market of Bearings

The Indian bearing industry has grown rapidly during the last few years. At present the industry is meeting around 70% of its demand for common varieties and sizes of bearings and rest is being imported.

Increasing domestic and global competition has had its effect on Indian industry. Customers are increasingly looking at both the price and performance. To counter this increasing expectation all the manufacturers are working to give their best in terms of price and quality. While this is true for all products it is very important for Bearing manufacturers.

Today bearing manufacturers are concerned about:

Manufacturers are constantly looking at new and innovative ways to modify their process, use best economic viable tools for their production and achieve best cycle time to reduce their cost per parts & still have the best quality bearing produced.

Growth
With the steady growth in Indian automobile market and capacity expansion drive by major Indian bearing manufacturers, the Indian bearing market is all set to move forward faster then ever. Additionally, as a country, India is getting recognition as a manufacturing hub and exports have been getting a renewed thrust over the last few years. Additional capacity is essential for meeting the growing domestic and export requirements.

Consolidation
There are an estimated 11 big players and around 25 smaller players in the organized sector in bearings industry in India. Unorganized sector, consists of small time manufacturers, is also huge. In this market situation, according to industry experts, consolidation in Indian bearing industry is inevitable. So we are likely to see consolidation in the bearings industry taking shape soon.

Value Addition
The industry is moving towards offering value added products and solutions. The introduction of newer technologies is also going to be crucial for growth in the coming years. Improved infrastructure spending will ensure good demand from engineering equipments company as well as commercial vehicle sector in the near to medium term.

Tags:- Future Market Of Bearings, Outlook And Future Market

Add a comment