Development Status of China’s Bearing Industry

China’s bearing industry was founded in 1938. Since the reform and opening-up, China’s economy has maintained a sustained and rapid development trend. The bearing industry has formed a complete set of independent and complete industrial systems. Whether in terms of bearing output or bearing sales, China has already moved forward into the ranks of major bearing industry countries, ranking third in the world. In 2018, the main business income of enterprises above designated size in China’s bearing industry was 184.8 billion yuan, an increase of 3.36% over 2017. The completed bearing output was 21.5 billion sets, an increase of 2.38% over 2017. In 2019, due to the slowdown in the development of China’s domestic mainframe industry represented by automobiles and machine tools, the demand for bearings has also shown a slowdown trend. In 2019, the main business income of China’s bearing manufacturing industry declined to 177 billion yuan, down 4.22% year-on-year. Although China is already a big bearing producer in the world, it is not yet a strong bearing producer in the world. The industrial structure, R&D capabilities, technical level, product quality, efficiency, and effectiveness of China’s bearing industry are far from the international advanced level.

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