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Procurement Market Intelligence Report

Bearings Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Bearings?

What is the average price of Bearings?

This procurement report includes pricing information to help you purchase Bearings. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Bearings been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Bearings yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Bearings?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Bearings with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Bearings?

Of the estimated 1,477 companies in the market, the top four companies (Timken, Aktiebolaget SK, Schaeffler AG and NSK Ltd.) generate just under 50.0% of total revenue, indicating a moderate level of concentration. Although bearings have a moderate level of specialization, barriers to entry are relatively modest compared to other... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Product Line

Do you offer any complementary products or services with the purchase of this machinery? If so, what are they? Do I have options?

What additional products or services do you offer separate from the purchase of this equipment?

Other than your referral, are there any other incentives for me to use your preferred installer?

What type of discounts do you offer for specific types or brands?

Quality Control

How often do you experience defects with your products? To what degree are in-process inspections and process controls carried out?

What is your acceptable margin of error for the product(s) I am seeking to purchase?

How many recalls have you had? Were they voluntary or mandated? What problems created the need for the recalls? How have you handled these recalls?

What types of technical issues have you experienced with this product?

What is the typical inspection process that your product undergoes? What internal testing procedures do you use to ensure product quality?

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Key elements for every RFP

What should my Bearings RFP include?

Project Budget

Buyers should explicitly state the amount for the award.

Buyers should explain the schedule with which payments will be made.

For assistance in ascertaining a reasonable price and price range for bearings, buyers can consult the Benchmark Price section of this report.

Selection Criteria

Buyers should look for suppliers that have been in business for a long time and have direct experience providing the kind of bearings they are seeking.

Buyers should ask for a list of references from current and former customers.

Buyers should give preference to local suppliers because it will cut down on costs related to transportation, and using a local supplier will simplify communication.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should communicate to prospective suppliers when award information results will be provided.

Buyers need to provide due dates for any ongoing maintenance work or deliveries.

Buyers should provide general expectations with regards to response time and customer service.

Evaluate major factors to mitigate risk

How risky is the Bearings supply chain?

The supply chain of the average bearing vendor has a moderate level of risk, the bulk of which stems from vendors’ reliance on metals like steel. Bearings are typically made from steel due to its strength and durability, which means that the prices of most bearings in the market are... Subscribe to learn more.

HIGH

MEDIUM

LOW