As with most markets over the past several years, the bearing industry has experienced a major dip in demand due to its close linkage with global GDP trends. At the beginning of the financial crisis in 2008, we saw drop offs in both bearing turnover and types, with little recovery seen until this past year.
Luckily for the bearing industry, all the doom and gloom of the past few years is forecasted to give way to a brighter, more profitable future. Global Industry Analysts, Inc. (GIA) predicts that sales for the world’s bearing market will reach 101 billion US dollars in 2018. Analysts believe that the return of the basic industries along with favorable trends on the investment front will lead this amazing recovery and growth.
Along with the projected increase in overall business development, there are trends which could have a significant impact on your business and your choice of bearing supplier:
Ritbearing, a bearing wholesaler, is partnered with a network of smaller manufacturers and is an established problem solver for its clients by providing a full scope of product options in places the major bearing manufacturers are neglecting. As your company tries to anticipate the potential impact these industry trends could have for your business, you will need a responsive bearing supplier that can be flexible, timely and competitive.
How will this projected growth change your bearing needs? What changes have you already experienced?
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15151 Prater Drive
Covington, GA. 30014
Phone: 1-800-431-1980
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