Bearings Industry Experiences Growth as Consumer Demand Increases
In the last year, we have seen an up-tick in orders for tooling and gages for the bearings industry. This appears to be a trend that will continue to grow. According to an article on bearingtips.com from last year, the global bearing market is likely to reach nearly $85 billion by 2020.
One reason for this increase is that so many things are made using bearings. From consumer merchandise like roller blades and automobiles to farm equipment and wind turbines, bearings are in a wide variety of products. As the economy improves and consumer/corporate spending increase, so does the need for these products.
The article at bearingtips.com goes on to discuss some of the challenges the industry recently faced and future opportunities. In the midst of an economic downturn the industry was flooded with counterfeit product and faced with a soft automotive market which makes up about one quarter of all bearing sales internationally.
The future of the bearings industry will be a combination of industry-specific solutions and innovation including integrated mechatronic products. The bearing industry has come a long way from the caged-roller bearing that was invented in the mid-1740s.
Located in Aerospace Alley, we’re keenly aware of the need for “smart” bearings. Smart bearings provide greater energy efficiency and improved safety. Bsahome.com offers more detail on the subject. As the global aerospace market grows, so does the need for smart bearings.
The challenges for bearing manufacturers, like all other industries, are providing a quality product in a timely manner while consistently searching for a qualified workforce. That is why it’s critical to partner with key suppliers who can help.
The bearings industry was the first industry that Sirois Tool supplied Tooling and Gages for. They have been providing tooling, fixtures and gages to the industry for more than 50 years. Their tooling is invaluable to their customers for two reasons. The first is that Sirois Tool understands their equipment. Each time they need tooling for a new line of bearings they don’t have to start from scratch. Second is that having a reliable tooling, fixture and gage manufacturer allows them to concentrate on what they do best… make bearings.
In a Digital World, Good Old Fashioned Mechanical Know-How Still Has Its Place.