The bearing industry in China has experienced rapid development in recent years, with a strong momentum of continuous upgrading and reform. Industrial chain optimization is becoming more and more obvious, product structure adjustment and market structure adjustment are advancing in an orderly manner, and the scale of production and sales, market share and technology level of bearing enterprises are constantly improving.
At present, the bearing industry in China has achieved a large-scale leap, leading the global bearing industry in terms of market share. China is the world’s largest producer and consumer of bearings, accounting for more than 50% of the world’s total production and sales. This industry has become the flag product for road and belt and the industrial foundation industry for electrical and electronics in my country. According to incomplete statistics, my country has about 3,000 bearing companies and more than 10,000 bearing varieties.
In 2019, the total output value of Chinas bearing industry exceeded 1 trillion yuan. From January to October of the same year, the total output value of the bearing industry increased by 19.3% year-on-year. The rise in export value of bearing products has also been maintained during the reporting period, with an increase of 10.3% year-on-year. The annual output value rate of Chinas bearing industry has maintained a high growth rate for several consecutive years, and continuously strengthened the status of my countrys bearing production line in the world.
In the bearing industry, my country has obvious advantages in research and development, production cost and scale. According to relevant organizations analysis, the key scale enterprises in Chinas bearing industry have achieved cooperation with international brands. With the improvement of the scale and degree of automation of production technology, the production efficiency of the bearing industry in China has been further improved. In addition, the number of Chinas bearing industry has also increased significantly, providing strong support for the rapid development of the industry.
With the rapid development of my countrys economy and the implementation of its One Belt, One Road strategy, the bearing industry has also achieved a significant change. My countrys bearing enterprises have continuously improved the quality and technical level of products and improved their international competitiveness. Chinas bearing industry has achieved remarkable results in the development of domestic demands and the international market, which has significantly increased the market share of bearing products.
At the same time, during the development process of Chinas bearing industry, mergers and acquisitions have also been actively carried out. This has not only increased the overall efficiency of the industry, but also enriched the product structure, greatly increasing the degree of product customization and better meeting the needs of users. With the continuous optimization of the industrial chain and the increase of capital investment, the bearing industry in China is continuously improving its product level and technology level, providing quality products for the global market.
In the new era, innovation in the bearing industry in China will become the new driving force for its development. With the steady progress of marketization of the bearing industry, large-scale bearing manufacturers in China are actively investing in technological innovation. By developing precision, high-end and special-purpose products, the industry is giving full play to its advantages in low costs, greatly improving the level of science and technology, and making a positive contribution to the global bearing industry.
In summary, bearing industry in China is facing a great opportunities in the new era, which also lays a foundation for upgrading, developing and innovating the bearing industry. With the continuous development of Chinas economy and the improvement of the bearing industry, the industry has achieved remarkable results in the past years. The exploration, research and development of the bearing industry will promote its continuous improvement, further promote the global production capacity and technological level, and further expand the scale of production and sales, so as to better serve the economic development of the society.
