Manufacturing is shifting from low to higher-end bearing products.
San Francisco, CA (PRWEB) August 10, 2013
Over the five years to 2013, the Bearing Manufacturing industry in China has been growing at an annualized rate of 15.3% to $40.2 billion, says IBISWorld. Industry revenue growth slowed considerably in 2009, due to the global recession and sharply decreasing foreign demand. However, some positive factors, such as the Shanghai Expo in 2010, the construction of the South-to-North Water Diversion project, West-to-East Electric Power Transmission project and West-to-East Gas Transmission project, helped maintain a growing trend.
The Chinese government has been encouraging the manufacture of mechanical and electronic products to improve domestic productivity and to increase the value of Chinese exports. Bearings are basic components in a variety of machinery and motors, consequently, the Bearing Manufacturing industry is one of the most rapidly growing segments of China's manufacturing sector, says IBISWorld.
The top four Bearing Manufacturing industry participants – Wafangdian Bearing Group Corporation, Minebea Electronics & Hi-Tech Components (Shanghai) Ltd., Luoyang LYC Bearing, and Zhejiang Jianli Group – hold a combined share of 11.7% of total industry revenue in 2013. Most large manufacturers located in the East China region (mostly in Jiangsu province, Zhejiang province and Shanghai).
Historically, bearing manufacturers in China have focused on low-end products. However, with more investment on manufacturing instruments and scientific research, the proportion of high-ranked output is expected to increase. Requirements for longer life spans and better performance of products that use bearings, such as cars, motors, computers, home appliances and office automation appliances, will promote improvements in bearing technologies, says IBISWorld.
For more information, visit IBISWorld’s Bearing Manufacturing industry in China industry report page.
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IBISWorld Industry Report Key Topics
The Bearing Manufacturing industry in China produces bearings and components, including rolling bearings, sliding bearings, linear roll bearings, bearing bases, bearing covers, bearing blocks, bearing housings, as well as bearing components such as bearing sleeves, shield bearings, ball bearings, needles, rollers and other bearing products. Products such as flywheels, chain wheels and pulley blocks are not included in this industry.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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