Bearing demand in China ranks first in terms of average annual growth rate of 12%

In recent years, China's equipment manufacturing industry has maintained a rapid growth, especially the rapid development of electric motors, power generation equipment, pumps, blowers, compressors and other industries, providing a larger market space for the development of the sliding bearing industry.

At present, the products of some domestic bearing manufacturers have reached or approached the level of similar international products, and they have begun to enter the host market in developed countries such as Japan, Europe and the United States. With the steady expansion of the global bearing industry market scale, it provides a good opportunity for China's bearing exports.

Bearings began to enter the stage of history with the advent of human industrial civilization. According to the global bearing market forecast and analysis report released in June, the global demand for various types of plain bearings is expected to increase at an annual rate of 8.5%, and it will reach approximately US$80 billion in 2014.

In addition, there have been reports that China’s bearing demand will rank first in the average annual growth rate of 12%. The demand for bearings in the Asia Pacific region is growing rapidly.