SKF expects demand to continue to grow in the third quarter, the world's biggest maker of industrial bearings said on Tuesday, after reporting earnings slightly above market forecasts.

The Swedish firm, which rivals Germany's Schaeffler , saw many of its major markets in lockdown during the COVID-19 pandemic, but has been helped by a strong demand recovery among its automotive customers.

SKF said it expected an organic growth of around 10% in the third quarter versus a year ago.

"Looking ahead, demand is expected to remain strong but there is also uncertainty related to both COVID and to the supply situation," Chief Executive Officer Rickard Gustafson, who took the reins last month, said in a statement.

Quarterly organic net sales were up 33.2% year-on-year with SKF's automotive business, which generates about 30% of overall sales, up 75.9% and its industrial division, which accounts for 70% of sales, up 21.7%.

SKF's second-quarter operating earnings rose to 2.88 billion Swedish crowns ($331.3 million) from 669 million a year earlier, versus the 2.81 billion mean analysts' forecast according to a Refinitiv poll.