The bearing industry has a history of more than 100 years of development worldwide. The 1960s ago, the bearing industry was mainly monopolized by European and American countries, with the development of Japan's automobile, motorcycle, office automation equipment, home appliance, machine tool and other industries, after the 1960s, Japan has gradually replaced the monopoly position of European and American countries in micro and small bearing field. Since entering the the 1990s, with the continuous progress of production technology in China, in micro and small bearing field, China bearing enterprises began to compete head-on with Japanese enterprises, and gradually occupied the micro, small bearings in the middle, low-end market and some high-end markets.
China is the main market for future bearing manufacturing industry
Statistics show that the world bearing market more than 70% of the share, by the ten multinational bearing Group company, including Japan Nsk, such as the five companies, Sweden SKF, Germany, such as two companies, such as the United States Timken, such as two companies. At the same time, the world bearing industry's high-end market is monopolized by these enterprises, while the middle and low market is mainly concentrated in China.
By region, the global bearing market can be divided into Asian and Oceania markets, European markets, North American markets, Latin American markets and African markets, with a share of 40%, 31%, 25%, 3% and 1% respectively.
With the gradual increase of industrialization, OEM demand is expected to rise. Despite the weak production of durable goods such as automobiles in recent years, the demand for bearings has been seriously affected. In the next few years, however, durable goods and car production in developed markets will likely increase. As a result, growth in developed markets will be complemented by strong growth in the end-sector of the growth market, especially in the Chinese market. China surpassed the United States as the traditional main market to become the world's largest automobile production country, has maintained a leading position.