2014-02-07 07:23:01 - Bearings, Gears, and Driving Elements in Australia: ISIC 2913 - a new market research report on companiesandmarkets.com
Growing 5% annually over 2000-2010, the Australian industry of manufacturing bearings, gears and driving elements faces strong competition from large international manufacturers. The total market displayed net 68% growth over the review period, reaching A$2 billion in value in 2010.
While generally demonstrating stable growth, the situation changed in the latter years of the decade, when exceptionally high 19% year-on-year growth in market value in 2008 was followed by the only decrease of the decade, at 6% year-on-year in 2009. This was due to the car manufacturing industry being hit hard by the economic downturn, thus lowering demand for car components and driving elements.
In recent years there has been a worrying trend of counterfeit gears, bearings and other driving equipment, with
some companies unlawfully replicating some equipment from their competitors (the replicas are of low quality and sometimes almost indistinguishable from the original equipment).
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