2011 bearing industry demand will hit a record high

Due to the rapid growth of durable goods production, especially the development of motor vehicles and industrial machinery, the growth of China's bearing market is at the forefront of the world. According to an analysis report of the industry investigation company Friedonia on the Chinese bearing market, the demand for bearings in China is forecasted. With an annual growth of 13.8%, it will reach 125 billion yuan in 2011, and this amount will reach a record high.

In 2011, OEM bearing applications will still account for more than 4/5 of total bearing demand. The automotive, industrial machinery, electronic and construction equipment, mining and oilfield equipment manufacturing markets are particularly strong. MRO bearing demand will increase with the growth of bearing application equipment. The growth rate of motor vehicle maintenance is expected to be the fastest.

In addition, the largest increase will be achieved with no bearings, which is mainly due to the increase in the production of motor vehicles and industrial machinery and the demand for OEMs and the aftermarket. The growth rate of demand for plain bearings and seated bearings without seats will also exceed the average level. Ordinary bearing demand will benefit from the growth of production of motor vehicles and industrial machinery in its main market. Ordinary bearing design has been continuously improved, and its price is lower than that of rolling bearing, so sales can be improved. Sales of seated bearings are also driven by industrial production (especially in the construction, mining and oil field markets). Currently, imported bearings account for nearly a quarter of total demand, while export bearings account for about 1/4 of total shipments. Bearing shipments are expected to surpass domestic demand for bearings in 2011, reaching 128 billion yuan, an annual increase of 14.4%.