China is the third largest country in the world in the sales and manufacturing of bearings. Since 2005, China has ranked third in the world in terms of sales revenue and product output, according to intelligence
According to research and consulting data, the main global bearing markets in 2017 were the United States, the European Union, Japan, China, Russia, and Japan, with market share of 23% and
21%, 19%, 10%, 6%, and 4%. In 2019, there were nearly 1300 enterprises above designated size in China, with approximately 350000 employees and 1770 main business revenue
With a production capacity of 19.6 billion sets of bearings, it can produce various types of bearing products ranging from an inner diameter of 0.6 millimeters to an outer diameter of 12.37 meters, totaling over 90000 varieties. two thousand and twenty
The annual output of bearings in China reached 19.8 billion sets, and the production continues to increase. According to data from the China Academy of Commerce and Industry, the revenue scale of China's bearing industry in 2020 was 1930
Billion yuan, expected to reach 19.1 billion yuan by 2021, and the industry will maintain a growth trend. According to data from the China Bearing Industry Association, the development goals of China's shaft industry
To achieve a main business revenue of 215 billion yuan and a production volume of 22.6 billion units by 2025, the industry will continue to grow in the long run.
China's bearing industry has formed five major industrial clusters. After decades of development, China's bearing industry is allocated according to market resources in various regions
Different arrangements have gradually formed five distinctive bearing industry clusters, namely the Wafangdian Bearing Industry Cluster (Liaoning) cultivated by the old industrial base
Luoyang Bearing Industry Cluster Area (Henan), Zhejiang East Bearing Industry Cluster Area (Zhejiang), which is driven by market economy, with industry academia research as the link, and "specialization, refinement, uniqueness, and novelty"
The distinctive Suzhou Wuxi Changzhou Bearing Industry Cluster (Yangtze River Delta) and Liaocheng Bearing Industry Cluster (Shandong).
The automotive, household appliances, and motor industries are the main downstream applications of bearings in China, while the automotive, machine tool, and robot industries are the core drivers of industry growth.
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