SKF India sees emerging opportunities in the construction equipment market for bearings.

Sujeeth Pai, Director, Industrial Business, SKF India

How is the construction equipment bearings market doing currently in India? What is the demand trend of bearings from infrastructure equipment applications?

Most of the industrial sectors in India are witnessing an increased demand aided by the Government’s continued focus on driving higher infrastructure investment as well as the enabling policies. Companies are ramping up output amid strengthening demand scenario which is expected to support manufacturing growth in the near term. Performance of the construction equipment bearings market in India is currently experiencing an upward growth trajectory as the demand for Indian-manufactured construction equipment is evolving globally. Thus, we could expect industrial output to gather momentum in the coming months. Also, in response to increasing input costs, equipment manufacturers are seeking cost-effective solutions. Another interesting trend we are observing given India’s net zero ambitions is that several industries including the construction equipment manufacturing companies are focusing on more environment-friendly and cleantech solutions. There is a greater demand for maintenance-free bearings, “Made in India products”, and intelligent feedback systems.

What are the key engineering attributes of your bearings?

Bearings are an essential part of every machinery. In fact, everything that moves has a bearing in it. Our bearings are engineered with several key attributes that ensure optimal performance and reliability. These attributes include high load-carrying capacity, reliability and durability, low friction, and high-speed capabilities. We utilize advanced materials and manufacturing processes to deliver bearings that can operate in harsh environments and withstand temperature ranges and environmental conditions of the application without compromising performance. These bearings are designed to reduce energy consumption and minimize maintenance requirements, resulting in lower operating costs for our customers. SKF bearings are also customizable to meet specific customer needs, such as sealing solutions or special coatings. These engineering attributes are critical in ensuring that our bearings provide long-lasting and efficient performance, making them a preferred choice for a wide range of industrial applications.

How do you look at the government’s plan to strengthen the Make-in-India initiative and support the MSME segment? Will this have a positive impact on the bearings industry in India?

The Make-in-India initiative aligns with SKF India’s vision to expand manufacturing capabilities and meet the growing domestic demand for bearings. By emphasizing local production, the government’s plan creates an environment for SKF India and other domestic manufacturers to invest in facilities, technology, and research. With India’s large consumer base and increasing industrialization, the bearings industry has tremendous growth potential. SKF India can seize the opportunity to expand production capacity, serve the domestic market effectively, and contribute to job creation, technology transfer, and economic development. Additionally, the government’s focus on infrastructure development, such as “Smart Cities” and “Digital India,” creates a positive impact on the bearings industry, leading to increased demand.

What are the emerging opportunities in the CE market for bearings?

SKF India sees emerging opportunities in the construction equipment (CE) market for bearings. India’s construction market is expected to become the third largest globally by 2025, creating significant potential for the industry. Lower costs and skilled labor make India an attractive OEM hub for new equipment manufacturers. The CE market presents opportunities for localized production of parts, such as bearings and seals. Less than 40% of India’s highways are four lanes, indicating significant scope for infrastructure development and increased demand for bearings. SKF India can leverage these opportunities by expanding its manufacturing capabilities and supplying high-quality bearing solutions to support the CE sector’s growth and contribute to India’s infrastructure development goals.

What about product & site support for your range of bearings?

SKF India is dedicated to delivering high-quality bearings and offering comprehensive support throughout the product lifecycle. We have combined our products and technological capabilities and focusing on helping customers solve their core needs of increased machine reliability and availability. For example, with rotating equipment performance, we help customers maximize reliability and output from their machinery and production process while driving down the total cost of ownership.

Globally, SKF and Amazon Web Services (AWS) have collaborated to universalize industrial machine reliability and predictive maintenance. The solution, called SKF Axios, complements SKF’s current portfolio of advanced condition monitoring products and provides customers with a simple, cost-effective, cloud-based solution to monitor a wide range of rotating assets. With this, industrial customers can make faster, more informed decisions and save costs throughout the value chain, resulting in increased efficiency and sustainability.

Hits: 36