Market Scale

• Overall Growth: In recent years, the Chinese bearing industry has benefited from the strong demand of downstream industries, and its market scale has continued to expand. In 2023, the market size of China's bearing industry reached 278.5 billion yuan.
• Increasing Global Share: In 2023, China accounted for 21.9% of the global bearing market. It is expected that by 2030, the revenue of China's bearing market will reach $54.3994 billion, making it the leading country in terms of global bearing market revenue.

Output and Sales Volume

• Steady Output Increase: The output of China's bearing industry has shown an overall growth trend in recent years. In 2019, the industry output was 19.6 billion sets, and by 2023, it had increased to 28.52 billion sets.
• Rising Domestic Sales: In 2019, the domestic sales volume of bearings in China was 16.4 billion sets, and in 2023, it increased to 23.54 billion sets.

Technological Level

• Breakthroughs in Some Fields: High - end bearings for high - speed railways, wind power, automobiles and other fields have been domesticated or partially domesticated. The gap between some leading domestic enterprises and overseas multinational bearing companies is gradually narrowing, and some products have reached advanced levels.
• Remaining Technological Shortcomings: High - end bearings for aerospace, nuclear power and other fields still rely on imports. Compared with imported bearings, there are still certain gaps in dimensional tolerances and rotational accuracy, high - speed performance, noise and abnormal sounds, lifespan, and applications in special working conditions.

Competitive Landscape

• Fierce International Competition: About 75% of the global bearing market share is occupied by eight major bearing companies, while Chinese enterprises account for only about 20%. These eight major bearing companies basically monopolize the high - end bearing industry.
• Low Domestic Concentration: The concentration of China's bearing manufacturing industry is relatively low. The top ten enterprises in terms of market share account for about 30%. Among them, Renben Group is the enterprise with the largest domestic market share, accounting for more than 10%.

Industrial Distribution

An independent and complete industrial system has been formed, with tens of thousands of product specifications. Areas such as Wafangdian, Luoyang, the Yangtze River Delta, Zhejiang, and Liaocheng have become important industrial bases for bearing manufacturing in China, with significant industrial agglomeration effects.

Import and Export

In recent years, the import value of bearings in China has decreased, while the export value has increased. The difference in the average import and export prices is gradually narrowing, indicating that the domestic bearing manufacturing level is constantly improving. For example, in 2022, the import value of bearings in China was $4.564 billion, a year - on - year decrease of 16.56%; the export value was $7.255 billion, a year - on - year increase of 4.45%.