How is the development of Chinese bearings?
Let’s see data
Since 2018, our bearing industry was facing many negative factors, such as decreased investment and trade disputes between China and USA. But there is also some positive factors, for example, Chinese government positively adjusted the finance and currency policy. And the taxes refunds for exporting has increased from 15% to 16%. According to the data from Chinese Bearing Association, there are almost 10,000 bearings companies in China. 1500 companies are medium-sized. The top 100 companies has covered 42.8% of the market share. The top 1000 companies has covered 90% of the market share.
From the company revenue, the increase of our country’s bearing income has already passed the high speed development period, and entered the mature period that increases steadily. The revenue of 2010 is 1260 hundred million, revenue of 2017 is 1788 hundred million, and in 2018, it reached to 1848 hundred million. Increased 3.4%.
There are still some problems of Chinese bearing:
1. High standard bearings are imported.
Technology of Chinese bearing company is still low. Production capacity is growing fast, but technology development is slow, also lacking of core technologies.
2. Intensifying competition
The top 8 bearing companies in the world has built the factory in China and has strong production capacity. After getting part of the Chinese market share, they are entering the Chinese machine market, such as subway, cars, CNC machines, metallurgy etc... In the product development, they are focused on researching new bearings, and control a commanding point.