Bearings are one of the basic mechanical components, mainly used for the transmission of mechanical parts, among which rolling bearings and joint bearings are the main products of the bearing industry. Bearings are widely used in industrial machinery, agricultural machinery, transportation, national defense, aerospace, household appliances, office machinery, and high-tech fields such as atomic energy and nuclear reactors. China has currently established a relatively complete bearing industry system and formed a relatively complete research and development system. In recent years, China's bearing industry has experienced rapid development, and currently China is the world's third-largest producer of bearings.
Affected by the financial crisis, the overall production of bearings in China has recently declined, but it still remains at a relatively high level. From the perspective of product size, the vast majority of bearings produced in China are small and medium-sized bearings, with a relatively small proportion of production of bearings larger than medium size, less than 3%; In terms of output value, due to the high unit price of medium and large bearings, the output value of medium and large bearings in China accounts for 35% of the total output value.
China's bearing industry has developed into a world leading bearing manufacturing country, but it is not a strong bearing manufacturing nation. The industry concentration is relatively low, and a competitive pattern of state-owned (or state-controlled), private, and foreign-funded (or joint venture) enterprises has basically formed. Compared with world bearing giants such as SKF and INA, most domestic enterprises have low product quality and technological level, serious homogenization competition, and mainly rely on the relative advantage of labor costs to participate in the competition in the mid to low end market. Overcapacity has led to increasingly fierce market competition.
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