Domestic high-end bearing market has great potential

Bearing is an important and key basic component in the equipment manufacturing industry. It directly determines the performance, quality and reliability of major equipment and main products, and is known as the “heart” component of equipment manufacturing. In recent years, domestic wind power, hydropower, nuclear power, deep drilling rigs, offshore drilling platforms and other fields have opened up huge equipment demand markets, but bearings as key basic accessories have become a weakness in their development. In view of the development direction of China's bearing industry, the mastery of bearing core technology determines the development of the equipment manufacturing industry. Bearings are the foundation of the manufacturing industry. If China's manufacturing industry wants to embark on high-end, bearings must first go on high-end. It is worth mentioning that the domestic high-end bearing market has great potential, which also provides opportunities for domestic bearing companies. Breaking through the core technology of high-end bearings is a good medicine to break the predicament of the bearing industry.

The demand for domestic high-end bearing market is very large, and many market segments will continue to maintain the growth momentum. In the field of energy equipment, companies such as Mingyang Wind Power and Goldwind Technology are increasing their output this year, and the export demand of internationally renowned companies such as Siemens and GE is also increasing. In addition, the domestic host industry has broken through foreign barriers, reduced costs, and improved competitiveness. The demand for substitution of medium and high-end products has increased significantly, and the high-end market has great potential. The demand for high-end bearing exports from the international supply chain is also expanding. Foreign companies have expanded their purchases in China from bearings to forgings in the past two years. As long as products can be upgraded to meet the needs, the international market has broad prospects.

Domestic bearing companies must seize the opportunities for middle-to-high-end goods to replace imports and carry out high-end merchandise exports, reversing their disadvantages and stepping out of the quagmire.

Although the development of the bearing industry in recent years is not bad, the competition in recent years has become even fiercer. Special foreign group companies rely on their brand, technology, capital, and production scale to bring pressure to domestic bearing companies. For example, Sweden's SKF Group, Germany's Schaeffler Group, Japan's NSK Group, and so on, have entered the Chinese market and established production bases, and they are global operations and manufacturing. Compared to domestic small businesses, the gap is really too great. . This requires us to have our own set of technologies and brands in order to have our own foothold.

Judging from the current product structure of China's bearing industry, the majority of the general bearings are technically low in content, and China’s labor capacity is sufficient. It has its own advantages in the production of general-purpose bearings; Technical bearings, no matter the product type or technical content, are temporarily unable to compare with some foreign companies. And China still needs a lot of imported high-precision, high-tech bearings, especially special bearings for some industries. This is also the direction of future R&D and efforts of China Bearing. In this regard, China has also made a series of supportive policies, particularly encouraging the R&D institutions of the bearing industry, and encouraging them to manufacture high-tech bearings with the introduction of advanced foreign equipment.

Let's take a look at the bearing market in China. According to statistics, there are more than 1,400 companies that have achieved large-scale bearing manufacturing in China. This does not include small workshops. Over the past 30 years of reform and opening up, China’s annual sales of the bearing industry have increased at an average rate of 15.3. There are 70,000 sets of equipment in the full-bearing industry above designated size, of which 5,000 are thermal processing equipment, and about 950,000 tons of steel products are used annually. 500,000 tons, about 300,000 employees. Bearing industry, supply, production, sales, human, financial, and material, all have the potential to benefit, are the resources that manufacturing services can tap. The bearing industry is an industry that operates independently under a typical market economy with close integration of heat and cold processing, manufacturing and assembly, and after-sales services. Although it is a basic component industry, it is related to the construction of various fields of industry, agriculture, national defense, and transportation. The development of manufacturing services in the bearing industry is particularly important in the face of market, sales, volatility in returns and fierce market competition.

In summary, we can see that a better prerequisite for the development of the bearing industry in China is to have the core competitiveness of its own bearing products, that is to have its own brand in the international, as well as excellent technology, so that China’s Bearing companies can have their own place in the world bearing industry. East Bearing Network analysis believes that with the diversified development of the bearing industry, the product structure of the bearing industry will also change, the proportion of products with high technological content of bearing products in China is also rising, and the sales unit price will also increase, and it is expected that In 2015, China’s bearing output is expected to exceed 22 billion units, and its sales volume is expected to exceed RMB350 billion, making it the world’s largest bearing production and sales base.