As a key component of mechanical equipment, bearings are widely used in many fields, and the growth trend of its market size has attracted much attention. From the current market dynamics and future development trends, the future growth trend of China's bearing market size is more optimistic, and it is expected to continue to expand under the impetus of various factors.

First, the sustained growth trend is remarkable

According to the survey data of grandviewresearch, the revenue of China's bearing market in 2023 reached 26.5264 billion US dollars. From 2024 to 2030, China's bearing market is expected to grow steadily at a compound annual growth rate of 10.8%. This means that in the next few years, the scale of China's bearing market will achieve significant expansion, and it is expected that by 2030, the market revenue will grow to $54,399.4 million, nearly doubling. Such a growth rate not only reflects the huge potential of China's bearing market, but also indicates that the industry will usher in a new round of development opportunities.

Second, there are many driving factors for industry development

(1) Policy level

Industrial support policy: The state has always taken high-end equipment manufacturing industry as a key development area, and bearings, as the core basic components of the equipment manufacturing industry, are naturally strongly supported by policies. For example, in the field of intelligent manufacturing, policies encourage enterprises to increase investment in automated and intelligent production equipment. This has prompted bearing enterprises to speed up technological transformation and improve production efficiency and product quality. At the same time, the support policy for the new energy automobile industry has also driven the demand for special bearings for new energy vehicles. The development direction of new energy vehicles is high performance and long endurance, which requires bearings with higher accuracy, lower friction coefficient and stronger reliability. Industrial upgrading under the guidance of policies has created a broad market space for high-end bearings.

International cooperation policy: The Belt and Road Initiative has brought unprecedented development opportunities for Chinese bearing enterprises. With the promotion of infrastructure construction in countries along the line, the demand for construction machinery, rail transit and other equipment has increased significantly, and these equipment can not be separated from the support of bearings. Chinese bearing enterprises rely on their own technology and cost advantages to actively participate in international cooperation and expand overseas markets. For example, some enterprises cooperate with infrastructure projects in Southeast Asian countries to provide them with high-quality bearing products, which not only enhances the international visibility of enterprises, but also increases the export volume of products. According to statistics, in recent years, China's bearing exports to countries along the "Belt and Road" have shown an upward trend year by year, which undoubtedly injected a strong impetus to the growth of the size of China's bearing market.

(2) Market demand level

Demand in traditional fields is stable and upgraded: Machinery manufacturing and the automotive industry, as the traditional application fields of bearings, the demand for bearings has remained stable. In the machinery manufacturing industry, with the adjustment and upgrading of the industrial structure, enterprises have higher and higher requirements for the performance and reliability of equipment. Traditional ordinary bearings gradually can not meet the high precision, high speed production needs, replaced by high-precision, high-performance bearing products. For example, in machine tool manufacturing, high-precision ball screw bearings and angular contact ball bearings can improve the machining accuracy and efficiency of machine tools and meet the processing needs of precision parts. In the automobile industry, although the overall growth rate of the automobile market has slowed down, the continuous increase in car ownership and the replacement of auto parts still provide stable demand support for the bearing market. At the same time, the automotive industry is developing in the direction of intelligence and lightweight, which puts forward higher requirements for the performance and quality of bearings, and promotes the development of the high-end bearing market.

Explosive growth in demand in emerging areas: The rapid rise of new energy vehicles, wind power equipment, industrial robots and other emerging industries has brought explosive growth opportunities for the bearing market. Taking new energy vehicles as an example, the key components such as drive motors and transmissions have extremely high requirements for bearings. Due to the operation characteristics of new energy vehicles, bearings need to have low noise, high speed, long life and other characteristics. With the continuous rise in the production and sales of new energy vehicles, the demand for special bearings has also shown geometric growth. According to relevant data, China's new energy vehicle production in 2023 reached 9.587 million, an increase of 35.8%. According to the average use of 10 sets of bearings per new energy vehicle calculation, the field of new energy vehicles alone has brought nearly 100 million sets of demand for the bearing market. In the field of wind power equipment, as the global demand for clean energy continues to increase, wind power installed capacity continues to expand. The core components of large wind turbines, such as main shaft bearings, yaw bearings and variable propeller bearings, require high-performance bearings to support them. These bearings not only have to withstand huge loads, but also operate stably in harsh environments for a long time. With the continuous progress of wind power technology, the capacity of single machine is getting larger and larger, and the size and performance requirements of bearings are also getting higher and higher. As an important carrier of intelligent manufacturing, industrial robots use precision bearings extensively in their joint parts. With the improvement of industrial automation, the market demand for industrial robots has grown rapidly, which has led to the prosperity of the precision bearing market.

(3) Technological innovation

New materials and precision manufacturing technology breakthrough: Bearing enterprises continue to increase research and development investment, in the application of new materials and precision manufacturing technology has made a series of breakthroughs. In terms of new materials, the application of new alloy materials, ceramic materials, etc., has greatly improved the performance of bearings. For example, ceramic bearings have the advantages of low density, high hardness, high temperature resistance, corrosion resistance, etc., which can meet the needs of some special working conditions. In terms of precision manufacturing technology, advanced processing technology and testing equipment improve the processing accuracy and quality stability of bearings. Through the use of high-precision grinding, grinding technology, as well as advanced CNC machining technology, the dimensional accuracy and surface quality of bearings have been greatly improved. These technological innovations not only improve the performance and competitiveness of the product, but also expand the application field of bearings, and lay the foundation for the expansion of the market size.

Application of intelligent and digital technology: With the development of industrial Internet, big data, artificial intelligence and other technologies, intelligent and digital technology is more and more widely used in bearing production. By embedding the sensor in the bearing product, the real-time monitoring and data analysis of the bearing running state are realized. According to the monitoring data, enterprises can predict the failure risk of bearings in advance, achieve preventive maintenance, and improve the operation efficiency and reliability of equipment. At the same time, the application of intelligent production management system realizes the automatic control and optimal scheduling of the production process, improves the production efficiency and reduces the production cost. For example, some enterprises use intelligent production lines to achieve the full process automation of bearing production, which not only improves production efficiency, but also reduces the impact of human factors on product quality. The application of digital technology also promotes the communication and cooperation between enterprises and customers, and enterprises can provide customized bearing products and solutions according to the individual needs of customers, and further expand the market space.

In summary, the size of China's bearing market is expected to maintain sustained growth in the future. The support of policies, the promotion of market demand and the drive of technological innovation will jointly create favorable conditions for the development of China's bearing industry. However, we should also see that in the process of development, Chinese bearing enterprises are also facing challenges such as fierce international competition and a shortage of high-end technical talents. Therefore, enterprises need to continuously strengthen technological innovation, improve product quality and brand competitiveness, and actively respond to market changes in order to be in an invincible position in the future market competition and achieve sustained and healthy growth of the size of China's bearing market.