Indian Bearings Market: An Analysis

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Apr 17, 2014, 12:57 ET

LONDON, April 17, 2014 /PRNewswire/ -- Reportbuyer.com has added a new market research report:

Indian Bearings Market: An Analysis

http://www.reportbuyer.com/countries/asia_pacific/india/indian_bearings_market_analysis.html

Scope of the Report

The report entitled "Indian Bearings Market – An Analysis" provides an insight into the bearings sector in India with a special focus on sub-segments like ball bearings and roller bearings. The report also includes the production, market value, segmentation on various parameters and distribution structure of overall bearings sector. It also discusses key growth drivers, trends and major challenges faced by bearings industry in India. Further, key manufacturers of bearings like SKF India, FAG India, Timken India, NRB India, NBC, ABC India Ltd, TATA bearings are profiled in the report.

Research Methodology

A separate section on price comparison of different types of bearings has been included in the report. There are wide range of bearings that are available in the market according to sizes and their usage in end-use applications and their prices vary accordingly. In the pricing analysis section, we have compared bearing prices that are produced indigenously by domestic players to that of products supplied by other foreign players (European, Japanese and Chinese) in the Indian market through imports.

Deeper insights on industry and price quotes were mainly obtained through primary research. Primary research included sending E-Mails to the distributors/suppliers and telephonic conversation with experts and company executives. Bearings were segregated on the basis of their series code and then a comparison was made between local and foreign brands. It was then concluded that most of the foreign brands (European, Japanese) were high priced compared to domestic brands due to superior quality and import duties. The Chinese brands were an exception as they were cheaper and proving a big threat to the domestic manufacturers.

Segment Coverage
- Ball Bearings
- Roller Bearings
- Parts of Bearings
- Bearing Housings
- Parts of Bearing Housings

Company Coverage
- SKF India
- FAG Bearings India Ltd
- NRB Bearings
- ABC Bearings
- Timken India Limited
- TATA Bearings
- Menon Bearings Ltd
- NBC Bearings/NEI Ltd
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Executive Summary

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.
Section 1: Indian Economy Snapshot

1.1 India GDP Growth Rate
1.2 Growth in Index of Industrial Production (IIP)
1.3 Inflation and Wholesale Price Index
1.4 Foreign Trade
1.5 Foreign Direct Investment (FDI) Inflows

Section 2: Bearings - An Overview

2.1 Introduction
2.2 Types of Bearings
2.3 Production Process of Bearings

Section 3: Indian Bearings Market

3.1 Market Size by Value and Volume
3.2 Segmentation by Source
3.3 Segmentation by Type of Demand
3.4 Segmentation by End Use
3.5 Segmentation by Major Types

3.5.1 Ball Bearings Market
3.5.2 Roller Bearings Market

Section 4: Import and Export Statistics

4.1 Ball Bearings (HS Code: 848210)
Import
Exports

4.2 Roller Bearings (848220, 848230, 848240, 848250)
Imports
Exports

4.3 Other Bearings (HS Code: 848280)
Import
Export

4.4 Parts of Bearings (HS Codes: 848291, 848299)
Import
Export

4.5 Bearing Housings (HS Codes: 848320, 848330)
Import
Export

4.6 Parts of Bearing Housings (HS Code: 848390)
Import
Export

Section 5: Market Trends

5.1 Declining Export of Bearings
5.2 Minebea Company Ltd Forayed into the Indian Market
5.3 Slowdown in Overall Automotive and Industrial Sector

Section 6: Growth Drivers

6.1 Commissioning of New Bearing Plants
6.2 Companies Focusing on Capacity Expansions
6.3 Positive Improvement in End-Use Industries

Section 7: Challenges

7.1 Counterfeit or Spurious Bearing Products
7.2 Rise in Commodity Input prices
7.3 Constant Need of Upgradation of Technology
7.4 Rising Cost Pressure on Indian Suppliers

Section 8: Competitive Landscape

Section 9: Company Profiles

9.1 SKF India
9.1.1 Business Description
9.1.2 Manufacturing Facilities
9.1.3 Net Revenues
9.1.4 Business Strategies
9.1.5 Key Clients

9.2 FAG Bearings India Limited
9.2.1 Business Description
9.2.2 Manufacturing Facilities
9.2.3 Net Revenues
9.2.4 Business Strategies
9.2.5 Key Clients

9.3 NBC Bearings
9.3.1 Business Description
9.3.2 Manufacturing Facilities
9.3.3 Net Revenues
9.3.4 Business Strategies
9.3.5 Key Clients

9.4 Timken India Limited
9.4.1 Business Description
9.4.2 Manufacturing Facilities
9.4.3 Net Revenues
9.4.4 Business Strategies
9.4.5 Key Clients

9.5 NRB Bearings
9.5.1 Business Description
9.5.2 Manufacturing Facilities
9.3.2 Installed Capacity
9.5.3 Net Revenues
9.5.4 Business Strategies
9.5.5 Key Clients

9.6 ABC Bearings Limited
9.6.1 Business Description
9.6.2 Manufacturing Facilities
9.6.3 Net Revenues
9.6.4 Business Strategies
9.6.5 Clients

9.7 TATA Bearings (Division of TATA Steel Group)
9.7.1 Business Description
9.7.2 Manufacturing Facilities
9.7.3 Net Revenues
9.7.4 Business Strategies
9.7.5 Key Clients

9.8 Austin Engineering Company (AEC)
9.8.1 Business Description
9.8.2 Manufacturing Facilities
9.8.3 Net Revenues
9.8.4 Business Strategies
9.8.5 Key Clients

9.9 Menon Bearings Limited
9.9.1 Business Description
9.9.2 Manufacturing Facilities
9.9.3 Net Revenues
9.9.4 Business Strategies
9.9.5 Key Clients

Section 10: Market Outlook

Section 11: Pricing Analysis of Bearings

List of Figures

Figure 1.1: Growth Rate of GDP at Factor Cost (at 2004-2005) Prices in % (2007-2008 to 2012-2013)
Figure 1.2: Sectoral Share in GDP at Constant (2004-2005) Prices in % (2012-2013)
Figure 1.3: Yearly Inflation and Wholesale Price Index (Base Year: 2004-2005=100)
Figure 1.4: India Trade Data (2008-2009 to 2012-2013)
Figure 1.5: Region-Wise Share of India's Export by Value (2012-2013)
Figure 1.6: Region-Wise Share of India's Import by Value (2012-2013)
Figure 1.7: Total FDI Inflows into India by Value (2006-2007 to 2012-2013)
Figure 2.1: Classification of Bearings in India
Figure 2.2: Production Process of a Roller Bearing
Figure 3.1: Indian Antifriction Bearings Industry Market Size (2009-2010 to 2012-2013E)
Figure 3.2: Production of Ball and Roller Bearings in India (2008-2009 to 2012-2013)
Figure 3.3: Trend in Monthly Wholesale Price Index (WPI) of Ball and Roller Bearings (April 2012 to September 2013)
Figure 3.4: Bearings Industry Segmentation by Source (2012-2013)
Figure 3.5: Bearings Industry Segmentation by Type of Demand (2012-2013)
Figure 3.6: Bearing Industry Segmentation by End Use (2012-2013)
Figure 3.7: Segmentation based on Types of Bearings by Value (2011-2012)
Figure 3.8: Ball Bearings Market Size in India (2009-2010 to 2011-2012)
Figure 3.9: Roller Bearing Market Size in India (2009-2010 to 2011-2012)
Figure 3.10: Roller Bearing Market Segmentation by Value (2011-2012)
Figure 4.1: Ball Bearings Import to India: By Value & Volume (2009-2010 to 2012-2013)
Figure 4.2: Ball Bearings Export from India: By Value & Volume (2009-2010 to 2012-2013)
Figure 4.3: Other Bearings Import to India: By Value & Volume (2009-2010 to 2012-2013)
Figure 4.4: Other Bearings Export from India: By Value & Volume (2009-2010 to 2012-2013)
Figure 4.5: Parts of Bearing Housings Import to India by Value and Volume (2009-2010 to 2012-2013)
Figure 4.6: Parts of Bearing Housings Export from India by Value and Volume (2009-2010 to 2012-2013)
Figure 5.1: Top Destinations to which Bearings are Exported (2012-2013)
Figure 5.2: Production of Passenger and Commercial Vehicles (2011-2012 vs 2012-2013)
Figure 5.3: Sales of Passenger and Commercial Vehicles (2011-2012 vs 2012-2013)
Figure 5.4: Sales of 2/3 Wheelers in India (2011-2012 vs 2012-2013)
Figure 5.5: Index of Industrial Production (IIP) y-o-y Growth Rate in % (2007-2008 to 2012-2013)
Figure 6.1: Projected Growth for End-Use Industry (2012-2013 to 2016-2017)
Figure 8.1: Competitive Landscape of Major Bearings Manufacturers in India (2012)
Figure 9.1: SKF India's Net Revenue (2008 to 2012)
Figure 9.2: Exports as Percentage of Total Revenue of SKF India: (2012)
Figure 9.3: Key Clients of SKF India
Figure 9.4: Production and Sales Volume of Ball/Roller Bearings-FAG India (2008- 2012)
Figure 9.5: FAG India's Net Revenue (2008-2012)
Figure 9.6: Exports as Percentage of Total Revenue of FAG India: (2012)
Figure 9.7: NBC Bearing's Net Revenue (2008-2009 to 2012-2013)
Figure 9.8: Product Portfolio of Timken India
Figure 9.9: Timken India's Net Revenue (2008-2012)
Figure 9.10: Exports as Percentage of Total Revenue of Timken India: (2012-2013)
Figure 9.11: NRB's Net Revenue (2008-2009 to 2012-2013)
Figure 9.12: NRB Bearings - Revenue Split by Segments (2012-2013)
Figure 9.13: Exports as Percentage of Total Revenue of NRB Bearings: (2012-2013)
Figure 9.14: ABC Bearing Ltd's Revenue (2008-2009 to 2012-2013)
Figure 9.15: Total Production and Sales of Bearings (2008-2009 to 2012-2013)
Figure 9.16: TATA Bearing's Net Revenue (2008-2009 to 2012-2013)
Figure 9.17: AEC Bearings Installed Capacity and Production Volume (2009-2010 to 2010-2011)
Figure 9.18: AEC's Revenue from Bearing Segment (2009-2010 to 2012-2013)
Figure 9.19: Exports as Percentage of Total Sales of AEC Limited: (2012-2013)
Figure 9.20: Exports as Percentage of Total Production of Menon Bearings: (2012-2013)
Figure 9.21: Menon Bearing's Net Revenue (2008-2009 to 2012-2013)
Figure 9.22: Segment-Wise Contribution to Total Revenue – Menon Bearings (2012-2013)
Figure 10.1: Forecast of Indian Bearings Sector Market Size (2012-2013 to 2015-2016F)
Figure 11.1: Price Comparison by Brands of Bearing No.1207
Figure 11.2: Price Comparison by Brands of Bearing No.22220
Figure 11.3: Price Comparison by Brands of Bearing No.22315
Figure 11.4: Price Comparison by Brands of Bearing No.30304
Figure 11.5: Price Comparison by Brands of Bearing No.32211
Figure 11.6: Price Comparison by Brands of Bearing No.6010
Figure 11.7: Price Comparison by Brands of Bearing No.6020
Figure 11.8: Price Comparison by Brands of Bearing No. NU212
Figure 11.9: Price Comparison by Brands of Bearing No. 51112

List of Tables

Table 1.1: Growth Rate of GDP at Factor Cost (at 2004-2005) Prices by Sector in %
Table 1.2: Monthly Growth Rates of Index of Industrial Production- Broad Sectors (Base: 2004-2005=100) (Year-on-year %)
Table 1.3: Growth Rate of Core Industries in % - (2007-2008 to 2012-2013)
Table 1.4: Other Macroeconomic Indicators (2011-2012 to 2013-2014)
Table 1.5: Top 10 Commodities of Import (2011-2012 vs 2012-2013)
Table 1.6: Top 10 Commodities of Export (2011-2012 vs 2012-2013)
Table 1.7: Share of Top Investing Countries FDI Equity Inflows (2010-2011 to 2012-2013)
Table 1.8: Sectors Attracting Highest FDI Equity Inflows to India (2010-2011 to 2012-2013)
Table 3.1: Types of Roller Bearings by Application and Major Players
Table 4.1: Import of Major Ball Bearings Categories to India- (Value & Volume Terms)
Table 4.2: Top Countries from which Ball Bearings are Imported to India (In Value Terms US$ Million)
Table 4.3: Export of Ball Bearing Categories from India- (Value & Volume Terms)
Table 4.4: Top Countries where Ball Bearings are exported (In Value Terms)
Table 4.5: Import of Different Types of Roller Bearings by Value and Volume
Table 4.6: Top Countries from which Tapered Roller Bearings are imported to India (HS Code: 848220)
Table 4.7: Top Countries from which Spherical Roller Bearings are imported to India (HS Code: 848230)
Table 4.8: Top Countries from which Needle Roller Bearings are imported to India (HS Code: 848240)
Table 4.9: Top Countries from which Cylindrical Roller Bearings are imported to India (HS Code: 848250)
Table 4.10: Export of Different Types of Roller Bearings by Value and Volume
Table 4.11: Destinations to which Tapered Roller Bearings are Exported (HS Code: 848220)
Table 4.12: Destinations to which Spherical Roller Bearings are exported (HS Code: 848230)
Table 4.13: Destinations to which Needle Roller Bearings are exported (HS Code: 848240)
Table 4.14: Destinations to which Cylindrical Roller Bearings are Exported (HS Code: 848250)
Table 4.15: Top Countries from which Other Bearings are Imported to India (In Value Terms US$ Million)
Table 4.16: Top Countries to which Other Bearings are Exported to India (In Value Terms US$ Million)
Table 4.17: Import of Parts of Bearings by Value and Volume
Table 4.18: Import of Balls, Needles and Rollers by Categories to India- (Value & Volume Terms)
Table 4.19: Top Countries from which Balls, Needles and Rollers HS Code: 848291 are Imported to India (In Value Terms US$ Million)
Table 4.20: Top Countries from which Other Ball/Roller Bearing Parts HS Code: 848299 are Imported to India (In Value Terms US$ Million)
Table 4.21: Export of Parts of Bearings by Value and Volume
Table 4.22: Export of Balls, Needles and Rollers HS Code: 848291 by Categories to India- (Value & Volume Terms)
Table 4.23: Top Countries to which Balls, Needles and Rollers HS Code: 848291 are Exported to India (In Value Terms US$ Million)
Table 4.24: Top Countries to which Other Ball/Roller Bearing Parts HS Code: 848299 are Exported to India (In Value Terms US$ Million)
Table 4.25: Bearing Housings Import to India by Value and Volume (2009-2010 to 2012-2013)
Table 4.26: Top Countries from which Bearing Housings incorporating ball or roller bearings HS Code: 848320 are Imported to India (In Value Terms US$ Million)
Table 4.27: Top Countries from which Bearing Housings not incorporating ball or roller bearings HS Code: 848330 are Imported to India (In Value Terms US$ Million)
Table 4.28: Bearing Housings Export from India by Value and Volume (2009-2010 to 2012-2013)
Table 4.29: Top Countries to which Bearing Housings incorporating ball or roller bearings HS Code: 848320 are Exported from India (In Value Terms US$ Million)
Table 4.30: Top Countries to which Bearing Housings not incorporating ball or roller bearings HS Code: 848330 are Exported from India (In Value Terms US$ Million)
Table 4.31: Top Countries from which Parts of Bearing Housings are Imported to India (In Value Terms US$ Million)
Table 4.32: Top Countries to which Parts of Bearing Housings are Exported to India (In Value Terms US$ Million)
Table 5.1: Export of Bearings (HS Code: 8482) from India by Value and Volume
Table 8.1: Market Share in Different Types of Bearings (2012)
Table 8.2: List of Foreign Collaboration and Joint Ventures
Table 9.1: Details of Manufacturing Facilities of SKF India
Table 9.2: Installed Capacity, Production and Sales Quantity of SKF India (2007-2011)
Table 9.3: Details of Manufacturing Facilities of FAG India
Table 9.4: Details of Manufacturing Facilities of NBC Bearings
Table 9.5: Timken India Manufacturing Facility
Table 9.6: Production Volume of Timken India (2008-2013)
Table 9.7: Details of Manufacturing Facilities of NRB Bearings India
Table 9.8: Production Capacity, Installed capacity and Sales Quantity of NRB (2006-2007 to 2010-2011)
Table 9.9: TATA Bearings Manufacturing Facility
Table 9.10: AEC Limited Manufacturing Facility
Table 9.11: Menon Bearings Manufacturing Facility
Table 10.1: Key Economic Indicators India (2013F-2018F)