Bearings are an essential component in a myriad of machinery and equipment for a diverse range of industries. The Indian bearing industry has been growing at a CAGR of 8.2 per cent in the last six years.

Bearings have been around for ages. The word 'bearing' brings to mind a simple-looking element that is made up of two rings with balls closely fitted between the rings. The origins of the bearings industry in India are tough to determine. It is known to have established in the early 1940s in the formal sense, but bearings have always been in use in some form or other ever since the invention of the wheel.

The best part is that most of the top players in bearings industry have presence in India. Brands like SKF have had a presence in the Indian industry for decades. Other brands that have presence in India include FAG, INA, Timken, Tata, NRB, Mitchell Bearings and many more. Almost all the units have a foreign collaboration or had one at sometime of their existence. There are the smaller bearing manufacturers like ARB Bearings, NHB Bearings, MRS Bearings, Delux Bearings, NBC Bearings, Dynamic Engineering Company, etc.

The Indian bearings industry today manufactures small and medium bearings mainly in five categories - ball bearings, cylindrically roller bearings, taper roller bearings, spherical roller bearings and needle roller bearings.

Current market

The India bearing industry has grown steadily over the past few years. The industrial segment has evolved rapidly since the time of industrial revolution and is regarded as the main hub of modern machinery. Today, there are several large and medium units which together manufacture over 100 million bearings every year in India.

According to industry sources, the Indian bearing industry has been growing at a CAGR of 8.2 per cent in the last six years. In this, automotive segment accounts for 45 per cent of the revenues, which amount to Rs 1,350 crore and the remaining 55 per cent of revenues are being contributed by industrial demand.

A major portion of bearings market in India is unorganised 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. Total exports of bearings (ball and roller) declined by both value and volume terms in 2012-2013 compared to previous fiscal year.

Speaking about the market for bearings in India, Sanjay Koul, Managing Director and Director of Manufacturing, Timken India Limited, said, "The automobile sector and industry machinery constitute a major share of this market. The growth of bearings market is directly linked to global industrial production. Aerospace, off highway and railway vehicles also contribute to a substantial share of market. The major end-user industries - automotive, construction equipment, agricultural, consumer and steel and paper - continue to shape the fortune of the bearings industry. This industry would evolve at a rapid pace with the growing concerns over global warming; the demand for wind turbines is increasing. This industry would notch up a step with these requirements."

In 2013, Timken launched a new range of industrial 6000 series ball bearings, split and solid block housed units, quick flex couplings and SNT plummer blocks. Timken also announced the launch of ISO taper, matched bearing assemblies, MV series ball bearings for machine tools and UC series ball bearing housed units in 2014. This launch comes with high expectations and it is imperative for us to deliver strong results and we are confident of the same.

SKF India is a bearing manufacturer with interests spread in areas like mechatronics, seals, lubrication systems and services. SKF has been designing various bearing applications and products to meet customer demands. The company has chalked out plans to leverage its existing business platforms to increase revenues and market penetration. SKF has contributed energy efficient bearings to the e-up!, Volkswagen's first full electric car, to ensure that it delivers a superior driving experience as well as does up to 160 km on the charge.

Talking about the market for polymer bearings, Antony Kurian, Chief Operating Officer (Country Head), Igus (India), said, "Polymer bearings are suitable for applications almost everywhere. They can withstand grueling conditions and especially where there is a difficulty of lubrication." He further added that plastic bearings have been an established viable alternative in the machine production industry for a long time and today there are only very few vehicles that are not equipped with plain bearings made from polymers.

ARB bearings, a major player in the automotive and industrial bearings space, has a wide range of bearings in their portfolio. This includes taper roller bearings, deep groove ball bearings, cylindrical roller bearings, spherical roller bearings, spherical thrust bearings, needle cage bearings, self aligning ball bearings, angular contact & double row bearings, king pin bearings, UC type ball bearings, special bearings, and single direction thrust bearings, to name a few. The company will be also taking part at the upcoming ACMA Automechanika New Delhi.

Speaking about the challenges faced by this growing industry, Koul of Timken India says, "The major challenges thrown up at us are the continuous changes in the economic scenario. The manufacturing industry would keep on growing as the demands grow with each new product. Our ability to succeed in the years and decades ahead will be determined not only by our responses, but by our ability to anticipate and plan for a shifting global economic and political environment in constant flux. We transform our business to ensure our ability to compete and win with the changing global market place."

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.