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China Bearing Industry Report, 2006

Published: Jan/2006

Hard Copy  USD $ 1,400
Pages: 125 Electronic(PDF)  USD $ 1,500
Report Code: Enterprisewide  USD $ 2,250
 

By the end of the "Tenth Five-Year Plan", China has accomplished fruitful achievement in mass-production of bearing, realizing the objectives of the bearing industry in 2003 two years ahead of schedule. In 2004, China ranked fourth worldwide in sales volume of bearing, only behind Japan, Germany and Sweden. However, considering the low proportion of high-precision, high-tech and high value-added products, China lags far behind the industrial powers in bearing manufacturing. As a result, China has to import high-quality bearing to meet the great demand of the domestic market. Foreign exchange expenditure for bearing importation reached 490million dollars, 648 million dollars, 879million dollars and 1.125 billion dollars respectively in 2001-2004, increasing by 33.94% annually.

At present, the demand of China bearing industry is mainly driven by the development of major machinery industries and the demand of exportation.

There is a huge market potential in China's bearing industry, with the rapid development of domestic major machinery industries providing vast space for the development of China bearing industry

In 2004, machinery industry maintained a rapid momentum and significant increases have taken place in the industries of engineering machinery, heavy & mining machinery, agricultural machinery, instrument and apparatus, machine tool and others. The increase rate reached above 28% in some industries. In the first part of 2005, the added value of machinery industry increased by 27.3% over the same period last year. An average increase of over 50% occurred to computer controlled machine tools, forklift trucks, earth-moving machinery, power equipment, metallurgy equipment and metal rolling equipment. Export volume of machinery increased by 46% over the same period last year, which further stimulated the demand of the bearing market. Besides, with many state engineering projects such as the project of natural gas diversion from the western to the eastern region, South-to-North water diversion project, the Yangtze Three Gorges project (TGP), 2008Beijing Olympic Games and Shanghai World Exposition 2010, there will be great demand for mechanical and electrical bearing, which will further accelerates the development of the bearing market.

China has great demand for bearing exportation with promising prospects. There were 1.2403699 billion sets of bearing exported in January-June of 2005, increasing by 18.05% compared to the same period last year. Bearing spare parts and ball bearing exported reached 25704.32 tons and 20976.77 tons respectively. Foreign exchange income added up to 694.2627 million dollars, increasing by 38.01% compared to the same period last year. Favorable balance of exportation reached 66.3962 million dollars.

Currently, there are nearly 2,000 bearing-manufacturing enterprises, in which there are 900 with sales revenue of 5 million RMB, ranking first worldwide in quantity. But most of them are small-sized, with low competitiveness and low risk resistance capacity. The output of five major domestic bearing-manufacturing enterprises only account for 20% of the total in China, while in Germany the three major bearing companies accounted for 90% of the total. The figures for the four major Japanese enterprises and four American enterprises are 88% and 56% respectively. The huge gap between Chinese bearing enterprises and foreign counterparts is obviously seen here. Under such circumstances, there are huge market risks in low-level redundant development and capacity expansion. Moreover, the rush of foreign investment into the bearing industry intensifies competition. China regards cluster development of the bearing industry (construction of enterprise group and "little giant"  enterprise) as a means of becoming a strong bearing-manufacturing power instead of only a big one. There will be a period of annexation and reorganization for bearing enterprises, during which there will be plenty of opportunities. So, it is of great importance to be familiar with the running trend of the bearing industry and find out how to seize market opportunities.

There are some uncertainties in the positive bearing market. The cost of raw materials is rising and there is a downright reorganization of the bearing industry. The report is made based on the data from State Statistical Bureau of China, China customs, China Machinery Industry Federation and China Bearing Industry Association (CBIA). The report is characterized by precise description and detailed data. The report forecasts the development of China bearing industry in 2006 on comprehensive in-depth analysis and points out opportunities and risks in the market. Within the framework of industrial economics and company strategies, the report is integrated with a variety of graphs, done with the latest statistical methods. The report can be used as reference for bearing enterprises to make reasonable strategies, institutions with an inclination to the bearing industry and individuals that wish rapid acquaintance with the running trends of the bearing market.



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