Bearing industry market outlook is promising

Bearings are components that fix and reduce the friction coefficient of the load during mechanical transmission. China is one of the countries in the world that earlier invented rolling bearings. In our ancient books, the structure of axle bearings has been documented for a long time. Bearings are important basic components for all types of machinery and equipment. Its accuracy, performance, life, and reliability play a decisive role in the accuracy, performance, life, and reliability of the host. In mechanical products, bearings are high-precision products that not only require the comprehensive support of mathematics, physics, and many other subject theories, but also need materials science, heat treatment technology, precision machining and measurement technology, numerical control technology and effective numerical methods and powerful computers. Many disciplines such as technology serve it, so the bearing is also a product that represents the country's scientific and technological strength.

China's bearing manufacturing industry has a strong momentum of development, which will bring about a positive effect on the smoothness of the bearing steel market. The demand for a number of high-end bearings has increased significantly, such as aerospace bearings, high-speed precision bearings for machine tool spindles, precision angular contact ball bearings for ball screw support, high-speed spindle bearings, precision bearings for photovoltaic industry machine tools, turntable bearings, and wind power bearings. Shield machine used for joint bearings, rolling mill bearings, high-speed steel bearings, automotive bearings, pulley bearings for cranes, turbocharger bearings, hydrodynamic bearings and so on.

After more than 50 years of construction and development, China's bearing industry has achieved a small to large, weak and strong development strategy, forming a relatively complete industrial system with basically reasonable production layout, coexistence of large and small enterprises, and relatively complete product categories. And it has a large production capacity and strong technical strength. At present, China's bearing industry already has a relatively large economic scale. There are more than 1,400 bearing enterprises in the country and about 300,000 employees. In 2011, China's bearing manufacturing industry achieved a total industrial output value of 193.211 billion yuan, an increase of 27.59% year-on-year; sales revenue was 1.9107 billion yuan, an increase of 30.30% year-on-year; total profit was 12.523 billion yuan, an increase of 26.54% year-on-year.

At present, the basic mechanical casting industry, such as precision bearings, has become a key industry in the national "Twelfth Five-Year Plan" period, and strives to achieve or approach the international advanced level. It is expected that with the support of the policy, by 2015, the sales volume of the high-end bearing foundry industry will reach 222 billion yuan. China's bearing output is expected to exceed 22 billion units, and the total sales volume is expected to exceed RMB350 billion, making it the world's largest bearing production and sales base. Therefore, bearing steel market outlook is promising.