SKF SWOT Analysis
Here is a detailed SWOT analysis of SKF covering strengths, weaknesses, opportunities and threats.
SKF Strengths
- Consists of approximately 150 companies worldwide and has clients’ such as General Electric, Rolls – Royce plc, Pratt & Whitney
- It has global certification to IS0 14001 (environmental management system), ISO 50001 (energy management) and OHSAS 18001 (health and safety) standards.
- Largest bearing manufacturer in the world and has around 48,600 employees in 140 production and manufacturing sites
- It has been listed as amongst the largest public companies in the world according to Forbes Global 2000 ranking
- It has 15,000 worldwide distribution locations across 130 countries
- It has a positive cash flow with net income of SEK 4.750 billion in 2014
- It has an ability to continuously develop new technologies and use them to create products that offer competitive advantage to the customers
- Invests heavily in R&D and has 18 technical centres around the world
Above are the strengths in the SWOT Analysis of SKF. The strengths of SKF looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
SKF Weaknesses
- Local players who has more cultural and localized knowledge of the region than SKF and have greater accessibility to the customers
- SKF has less global presence in tools and equipments of lubrication where the market is largely fragmented
These were the weaknesses in the SKF SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
SKF Opportunities
- Portfolio diversification through mergers and acquisitions
- Capturing more market share through growing technology and localized knowledge
Above we covered the opportunities in SKF SWOT Analysis. The opportunities for any brand can include prospects of future growth.
SKF Threats
- Fluctuating exchange rate and interest rate risks as due to its global presence the company has to transact in several foreign currencies
- Fluctuations in raw material and component cost risk
- Industrial disputes due to changing labor laws might impact the efficiency of the workers and SKF’s ability to meet customer demand
The threats in the SWOT Analysis of SKF are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the SKF SWOT analysis.
About SKF
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| SKF Overview | |
|---|---|
| Parent Company |
Svenska Kullagerfabriken AB (AB SKF) |
| Category |
Industrial Equipment (Bearings, Linear Motion Products, Seals, Lubrication systems, Maintenance products, Condition Monitoring, Grease) |
| Sector | |
| Tagline/ Slogan |
The power of knowledge engineering |
| USP |
Increased focus on developing services and products |
| SKF STP | |
| Segmentation |
Manufacturing companies |
| Target Market |
Industrial, Automotive, Specialty Business |
| Positioning |
Improve efficiency and reduce energy losses |
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