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Bearing Industry in India

The Indian Bearing industry has grown steadily over the past few years . The industrial segment has evolve drapidly since the time of industrialr evolution and is regarded as the main hub of modern machineries . The bearing industry plays acrucial role in the automotive sector . The increase in the demand for high- speed engines & machineries, spanning ove ralarg esection of industry, has create dafresh challenge for the bearingindustry .

To day, the rear eseveral large and medium units which together manufacture over 100 million bearings every year in India . The manufacturing of innovative , durable , reliable products has led to the revolution in the bearing industry . The bearing industry has evoloved significantly due to the expansion of production units in India .

The Indian bearing industry manufactures over 500 varieties of bearings . Considering this figure , the industry has alot of scope for growth and development . The current Indian bearing industry is worth Rs .3,500 crores . In this, automotive segment accounts for 45% of the revenues, which amounts to Rs . 1, 3 50 crores and the remaining 55% is influenced by other industries throug him ports .

Conside ring the growth of automotive industry as well as other industries, India has alot of potential to expand its business . The industry is expected to grow by leaps and bounds in the coming ye ars .

Due to high demand of commercial vehicles and two wheelers in India, the automotive sector is here to play an important role for the bearing industry . A wide range of bearings is used in the automotive industry for trucks, tractors, commercial vehicles etc. , which has added new dimension to its growth.

Globally speaking, China continues to manufacture l ow- priced bearings and replacing them with lucrative and reliable bearings . Indian manufacturers are facing as erious thr eat as this affects their growth and market share.

To over come the quality i m balance , Indian manufacturers are investing more and more in research and development and adopting inn ovative technologies to increase the life of their bearings . They are constantly on a look out to manufacture reliable and economic albe arings keeping in mind the current market scenario.

The growth of bearing industries in India has been stup end oussince it made its foray in late 40s with small and standard bearings. At present, the Indian industry manufactures small and medium bearings mainly in five categories: ball bearings, cylindrical roller bearings, taper roller bearings, spherical roller bearings and needle roller bearings . The bearings are manufactured taking into conside rati on the designsand specifications needed by various industries .

The automotive bearing industry showed a steady growth of 27 % in the year 2006 . The anticipated growth rate was possibleb ecause of production of commercial vehicles in the automotive sector . Since 2004, the over all automotive industry has grown at the rate of 3 4% per annum. The bearing manufacturing is directly related to innovations in machine tools, process technology and use of highlyreliable materials .

There has been an increase in the demand of automotive bearings in India but its rate of growth has been much sluggis has compared to the auto mobile industry . The bearing manufacturers are expecting asustained growth of 15% mainly due to the rise in the number of two wheelers, passengercars and utility vehicles .