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SKF AB SWOT and PESTLE Analysis

ID : 52851553| Apr 2023| 13 pages

COMPANY PROFILE -SKF AB

Business Sector :Manufacturing

Operating Geography :Sweden, Europe, Global

About SKF AB :

SKF AB, founded in 1907, is a Swedish bearing and seal manufacturing company headquartered in Gothenburg, Sweden. The company is a major manufacturer and supplier of bearings and lubrication systems, including customized bearings for engines and also power transmission products and other related services. SKF is the world's largest bearing manufacturer and among the largest public companies in the world. They have a global footprint with their customers in 40 industries spread over 130 countries. SKF has one of the largest distribution networks with over 17,000 distributors worldwide. They have employed 43,360 employees, 800 application engineers, 2200 service engineers globally in their 103 manufacturing units. They also have 15 technology centres which enable them to add leading edge technologies to their core capabilities. Through their continuous focus on innovation and technology they have become the leader in development of components which are required for automotive electrification.
SKF AB’s mission statement is to be the “The undisputed leader in the bearing business.”

SKF AB Revenue :


SEK 86,013 Million - FY ended 2019
SEK 85,713 Million - FY ended 2018

Competitive Analysis of SKF AB

SWOT
PESTLE
The SWOT analysis for SKF AB is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Leading global supplier of reliable rotation
2. Global footprint and wide distribution network
3. Strong Research and Development team with continuous focus on innovation
4. Consistently strong financial performance
5. Leading edge technologies in manufacturing
1. High number of work-related injuries
OpportunitiesThreats
1. Globalization and expanding to newer markets
2. Investments in high end technology and automation enabling further cost reductions
3. Electrification and the growing market of electric vehicles
4. Increasing adopting of digitalization
5. Partnerships and collaborations to improve performance
1. High competition from big players in the market
2. Increasingly stringent environmental regulations
3. Risks of counterfeit products
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Detailed SWOT Analysis of SKF AB

Strength

1. Leading global supplier of reliable rotation: SKF is a leading global supplier of reliable rotation by providing solutions in effective and the most sustainable way from combining their hands-on experience in over 40 industries with in-depth knowledge over bearings technology. They have an ability to keep developing new technologies that competitive advantages to customers by low friction, low energy and maintenance free solutions, and thus also contributing to a sustainable global society.

2. Global footprint and wide distribution network: SKF is the world's largest bearing manufacturer and among the largest public companies in the world. They have a global footprint with their customers in 40 industries spread over 130 countries. SKF has one of the largest distribution networks with over 17,000 distributors worldwide. They have employed 43,360 employees, 800 application engineers, 2200 service engineers globally in their 103 manufacturing units. They also have 15 technology centres which enable them to add leading edge technologies to their core capabilities.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

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References used in SKF AB SWOT & PESTLE Analysis Report

1. SKF Group homepage - https://www.skf.com/group
2. Investors Report 2020 - https://investors.skf.com/sites/default/files/pr/202007209324-1.pdf
3. Megatrends and Industrials change drivers - https://investors.skf.com/en/global-trends-and-industrial-change-drivers
4. Annual Report 2019 - https://investors.skf.com/sites/default/files/pr/SKF_Q2_results_2020.pdf
5. Aktiebolaget SKF (publ) - https://investors.skf.com/sites/default/files/pr/SKF_AR19_ENG_bookmarks_.pdf
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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SKF AB SWOT and PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2024). SKF AB SWOT and PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/skf-ab/ [Accessed 03 May, 2024].

In-text: (SWOT & PESTLE.com, 2024)

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SKF AB SWOT and PESTLE analysis has been conducted by Saurav Mansingka and reviewed by senior analysts from Barakaat Consulting.

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