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RELEASED: MAY 2008
After researching the UK bearings market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2003-2007:
In 2007, the UK market for bearings reached an estimated £393.1 million, representing growth of 5% in the year, and consolidating growth of 7% recorded in 2005. Prior to that the value of the bearings market fluctuated, with declines of 17% and 6% recorded in 2003 and 2005 respectively. The increase during the latter part of the review period reflects output growth in a number of key enduse industries, most notably the automotive sector. The increased competition from low cost countries such as China has restricted a stronger value development in a number of sectors of the bearings market during the review period.
MARKET FORECAST 2008-2012:
The value of the UK bearings market is projected to decline by 1% in real terms in 2008 and 2009, partly reflecting the effects of the current economic slowdown on investment levels in key enduse industries. Between 2010 and 2012, UK apparent consumption of bearings is expected to increase, albeit at moderate levels. In 2012, the UK market for bearings is projected at £395.7 million at 2007 prices, representing real term growth of 1% compared with 2007. The overall increase partly reflects the UK’s continued strong position in global engineering sectors.
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MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Bearings Market Research Report
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