China's Bearing Industry Development Advantages and Status Quo Analysis

China's bearing industry has developed to the present, has a considerable production scale and a higher level of technology and quality. Bearing enterprises with a certain scale have grown to more than 1,500 and the number of employees has grown to nearly 800,000. The annual bearing output has increased from 138,000 units in 1949 to more than 2 billion units at present. The number of bearing types has increased from more than 100 to More than 7000, specifications up to more than 28,000. In the past 10 years, foreign well-known bearing companies (such as SKF, FAG, NSK, NBM, KOYO, TIMKEN, TORRINGTON, etc.) have successively invested and set up factories in China. They have improved the technical level of bearing design in China, the production process and production management standards, and production equipment. The modernization of the level, the quality of the product, and the improvement of the use performance have played a great role in promoting.

At present, China’s bearing output reaches more than 2 billion sets, its output value has exceeded 20 billion yuan, its annual export volume exceeds 770 million sets, and foreign exchange earned through exports reaches approximately US$700 million, ranking fourth in the world, and satisfying more than 70% of domestic product varieties. To meet the required number of more than 90%, the export volume is also increasing at a higher rate.