China has a relatively complete bearing industry chain resource. Our country has developed basic industries and has a relatively complete layout for the upstream and midstream of the bearing industry. The upstream of the bearing industry chain consists of metal materials such as bearing steel and stainless steel, non-metallic materials such as modified plastics, and components such as bearing rings. The midstream of the industrial chain is for bearing manufacturing, with bearing products mainly including automotive bearings, engineering machinery bearings, shield bearings, wind power bearings, etc.

   The global pandemic restrictions are decreasing, which has increased the activities of people and businesses. Consumer spending and demand for durable goods are increasing in most countries. The supply chain tends to be stable, and the financial constraints caused by fluctuations in monetary value and available loans have been reduced. These factors, along with others, have helped the world economy recover from the double-digit decline in demand for tangible non immediate consumer products in the global bearing industry.

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.