Zhejiang waxing electromechanical co.LTD.，Factory located in Shandong,Headquarters located in Zhejiang,China.
First, industry market size analysis
Since the reform and opening-up, China's bearing industry has developed continuously and rapidly, and an independent and complete industrial system has been formed. From the point of sales, China has been the world's third-largest bearing production country. In 2020, the operating income of China's bearing industry reached 193 billion yuan, with a year-on-year growth of 9.04%.
In recent years, China has vigorously developed the machinery manufacturing industry. With the development of the downstream bearing industry, the demand for bearing products continues to increase, which makes the sales volume of the bearing industry continue to increase. China Commercial Industry Research Institute predicts that the revenue of China's bearing industry will reach 1971 billion yuan in 2021, and the market size of the industry will continue to grow.
Second, the analysis of the current situation of industry development
(1) Large number of enterprises, small scale, low industry concentration
There are a total of about 10,000 enterprises in China's bearing industry. According to the data of the National Bureau of Statistics, as of November 2019, there are 1,212 rolling bearing manufacturers above designated size in China's bearing industry and 111 plain bearing manufacturers. Although the number of bearing enterprises in China is large, the scale of bearing enterprises is generally small and the production is mainly concentrated in middle and low-end products due to the restrictions of capital, technology, manpower, research and development, and so on. At the same time, although the income of China's bearing industry is concentrated in enterprises above designated size, the income of the top 100 enterprises in the industry only accounts for 42.8% of the whole industry, indicating a relatively low industry concentration degree.
(2) The industry is large but not strong, and high-end products depend on imports
China's bearing output ranks third in the world, but it is mainly concentrated in the middle and low-end markets, with huge production capacity and medium technology level. A few core fields have broken through the blockade of the West. A large number of high-end products, including aviation bearings, high-speed rail bearings, and robot bearings, mainly rely on imports. For high-speed bearings, the bearing brands used by EMUs produced by domestic OEMs are all from Europe and Japan. The vacuum degassed bearing steel produced by China has a certain gap with foreign high-quality steel products in terms of quality stability and fatigue life.
(3) The high-end market is monopolized by multinational corporations, and the quality of domestic development needs to be improved
At present, about 70% of the global bearing market share is occupied by SKF, Schaeffler, NSK, JTEKT, NTN, Timken, NMB, NACHI, and other eight multinational bearing companies. It has a monopoly on the high end of the market. And the middle and low end of the market is mainly concentrated in China.
For more information, please refer to the Research Report on Market Prospects and Investment Opportunities of China Bearing Industry released by China Commercial Industry Research Institute. Meanwhile, China Commercial Industry Research Institute also provides services such as industrial big data, industrial intelligence, industrial research report, industrial planning, park planning, 14th Five-Year planning, industrial investment attraction, and so on.
Hello, please leave your name and email here before chat online so that we won't miss your message and contact you smoothly.