As foreign brand products cannot meet the demand of technology users in Russia, imported bearings only account for 6% of the Russian bearing market. It is expected that with the acceleration of the modernization of Russian companies and cooperation with foreign companies, Russia’s demand for foreign bearing products will increase.
Although foreign ball bearing products currently account for only 6% of Russia's domestic market share (EBC 2006 data), but with the Ford, Toyota, General Motors and other international automakers plan to expand its vehicle production in Russia, this share is expected to increase . Some industry experts believe that Koyo, a Japanese ball bearing manufacturer, will build a new factory in Russia after Toyota and Nissan. As these automakers have already increased production in Russia and reached an annual output of 200,000 units, international ball bearing manufacturers will inevitably actively seek development in the Russian market.
At the same time, manufacturers in Russia are also seeking opportunities for cooperation with international manufacturers. For example, EBC believes that the signing of a cooperation agreement with SKF or INA or the establishment of a joint venture will enable it to acquire advanced technologies that will improve its ability to produce high quality products.
The accession to the World Trade Organization will further increase Russia’s bearing imports. For example, Russia currently imposes a tariff of US$0.49 to US$0.59/kg on cheap ball bearings imported from China, which accounts for 30% of its total cost. With the accession to the WTO, these tariffs will be reduced or even eliminated, which will increase the import volume of certain products rapidly, especially in the mining industry where prices are more important than quality. This phenomenon will become more apparent. Manufacturers in China, Romania, the Czech Republic and Poland, which are expected to export mainly low-priced products, will benefit the most.
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