2018 bearing industry development status and market demand forecast analysis
China's status in the global bearing industry market: ranking fourth in the world.
Statistics show that more than 70% of the world bearing market share is shared by the eight major multinational bearing group companies, including Sweden's SKF (SKF), Germany's Schaeffler Group's INA and FAG, Japan's NSK (NSK), NTN, KOYO, Minebea, Nachi, TIMKEN, etc. At the same time, the high-end market of the world bearing industry is monopolized by the above-mentioned enterprises, while the middle and low-end markets are mainly concentrated in China.
By region, the global bearing market can be divided into five major segments: Asia and Oceania, Europe, North America, Latin America, and Africa, with 40%, 31%, 25%, 3%, and 1% respectively.
Chart 1: Market size ratio of major bearing demand regions in the world (unit: %)
From a specific country perspective, the US market is the largest, accounting for 23% of the world; the EU countries second, accounting for 21%; Japan accounting for 19%; Russia accounting for 6%; India accounting for 4%; China accounting for 10%.
Chart 2: Market share of major bearing demand countries in the world (unit: %)
The current market size of the bearing industry: sales volume reached 275.173 billion in 2017
According to the “2018-2023 China Bearing Manufacturing Industry Production and Demand Forecast and Transformation and Upgrade Analysis Report” issued by Prospective Industry Research Institute, the sales revenue of China's bearing manufacturing industry also fluctuated in 2013-2017. In 2016, the industry's sales revenue was 282.674 billion yuan, a year-on-year increase of 6.47%. In 2017, the industry achieved sales revenue of 275.173 billion yuan, down 2.6% year-on-year. Overall, the development speed of China's bearing industry has slowed down in the past three years.
Chart 3: Trends in sales revenue and growth rate of the bearing manufacturing industry in 2013-2017 (unit: 100 million yuan, %)
Bearing industry market demand status: the automotive industry is the largest demand area.
The application of bearings is very extensive. At present, the global bearings are mainly used in the automotive industry. The annual sales of automobile bearings are 1.02 billion sets, accounting for 29.95% of the total bearing sales. In the future, as the world's automobile manufacturing industry shifts to China, the proportion will further increase. In addition to the automotive industry, the bearing industry is also widely used in motors, home appliances, motorcycles, agricultural machinery, engineering machinery, heavy machinery, electric power, railways, machine tools and other industries, of which the motor industry demand accounted for 14.92% of the industry; the home appliance industry accounted for 13.55% In addition, motorcycles, construction machinery and agricultural machinery accounted for a large proportion, 9.51%, 4.63% and 1.82% respectively.
Bearing industry development prospects: 2023 or 306.3 billion yuan
As China has vigorously developed the machinery manufacturing industry in recent years, the downstream industry of the bearing industry has developed rapidly, and the demand for bearing products has been increasing, which has led to an increase in the sales revenue and total profit of the bearing industry. For example, with the development of China's industrial machinery and automobiles, the demand for supporting bearings has further increased. However, with the slowdown in the growth of major downstream demand markets, the growth rate of the bearing industry will also slow down.
Forward-looking Industrial Research Institute predicts that by 2023, China's bearing industry market is expected to reach 306.3 billion yuan.
Chart 5: China's bearing industry market size forecast for 2018-2023 (unit: 100 million yuan)
