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According to the report, the global ball bearing market is a mature market characterized by the presence of a small number of manufacturers occupying large market shares. Efficiency of ball bearings is the main area of focus for manufacturers as it forms the major means to upgrade product offerings in the market. The market is highly capital-intensive and has low asset turnover. It is difficult for new players to enter the market. Cartelization is a major challenge in the market.
“In order to restrict any new competition, key vendors are involved in cartels to avoid undercutting each other''s prices, thereby keeping the existing supply stable. The threat from counterfeit products is another key challenge faced by vendors,” says Anju Ajaykumar, a lead tools and components research analyst from Technavio.
The vendors in this market should concentrate more on entry of counterfeit products, especially into APAC. Consumer awareness programs are being conducted by players such as SKF to educate consumers as well as retailers about counterfeit ball bearings.
-2017 China(Guangzhou) Int’l Bearing and Equipment Exhibition
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