Analysis of the current situation and future trends of the bearing industry.

Oct 29, 2024

As an important part of mechanical equipment manufacturing, the current status and future trends of the bearing industry have an important impact on the development of the manufacturing industry. The following is a detailed analysis of the current status and future trends of the bearing industry:

1. Current status of the bearing industry.

Market size: As we all know, China is one of the largest bearing markets in the world, accounting for a large share of the world's bearing demand. According to statistics, the scale of China's bear market reached 100 billion yuan in 2022, a year-on-year increase of 10%, and the growth rate of the market size remained stable. At the same time, China is also the world's third largest bearing producer, with bearing production reaching 25.9 billion sets in 2022, up 11.2% year-on-year.

From a global perspective, the global bearing market size reached US$130.2 billion in 2022, up 7.3% year-on-year. This data shows that with the continuous development of the global industrial field, bearings, as key mechanical parts, continue to grow in market demand.

Product structure: There are many types of bearing products, which can be divided into two categories: sliding bearings and rolling bearings, according to their working methods and structural characteristics. Roller bearings and ball bearings are the main products on the market, among which roller bearings occupy the largest market share, accounting for about 47.4%, followed by ball bearings, accounting for about 38.8%.

In the domestic market, mid-to-high-end bearing products are still mainly occupied by multinational bearing companies. Although domestic companies have greatly improved their technical indicators, such as product stability and precision, most of them are still concentrated in the mid-to-low-end market.

Technical level: The technical threshold of the bearing industry is relatively high. With the advancement and innovation of technology, high-precision, high-performance and high-reliability bearing products have gradually become the mainstream of the market. However, there is still a certain gap between the domestic bearing industry and the international advanced level in terms of technical level, product quality, brand influence, etc.

Downstream applications: The downstream application fields of bearings are extensive, including engineering machinery, automobiles, agricultural machinery, port machinery, hydraulic components, forging machinery, plastic machinery, textile machinery and office equipment. In particular, with the rapid development of high-end equipment fields such as new energy vehicles, rail transportation, aerospace, etc., the application of bearings will be more extensive, bringing new growth points to the industry.

2. Future trends in the bearing industry

High-end: With the rapid development of the manufacturing industry and the advancement of industrial upgrading, the market demand for high-end bearings will continue to increase. Domestic bearing companies need to increase investment in technological innovation and R&D, and improve product quality and performance levels to meet market demand. In particular, the demand for high-end bearings in aerospace, high-speed rail, precision machine tools and other fields will continue to grow.

Intelligence: Intelligence is an important development direction of current-bearing technology. The application of digital and network technologies will make bearing operations more efficient and intelligent. By digitally processing the signals generated when the bearing rotates, a mathematical model containing the real-time bearing working status can be established to help determine bearing damage, predict bearing life, and realize intelligent operation and optimized maintenance of bearings.

Greening: With the improvement of environmental awareness and the implementation of environmental protection policies, the bearing industry also needs to develop in the direction of greening. Domestic bearing companies need to strengthen the research and development and application capabilities of environmental protection technologies to promote the green transformation and sustainable development of the bearing industry. It includes the choose of environmentally friendly materials, update of production processes, and reduction of energy consumption and emissions.

Internationalization: The Chinese bearing market also has certain competitiveness and influence in the international market. In the future, Chinese bearing companies need further to strengthen cooperation with internationally renowned companies, learn from advanced technologies and management experience, and improve their own competitiveness and innovation capabilities. At the same time, by attending international exhibitions to build international sales networks and expand the brand influence, we actively explore the global market and improve the international influence of Chinese-bearing products.

Policy support: The Chinese government attaches great importance to the development of the bearing industry and has introduced a series of policy measures to support the technological innovation, brand building and market expansion of the bearing industry. The implementation of these policies will provide a strong guarantee for the development of the bearing industry and promote the industry to develop in the direction of high-end, intelligent and green.

In summary, the bearing industry will continue to keep a stable growth trend in the future and face more opportunities and challenges. In the fierce market competition, enterprises and investors need to pay close attention to industry dynamics and technological development trends and adjust strategies and market layout in a timely manner to cope with market changes.