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China's Automotive Bearing To Maintain The Growth Trend

With the gradual increase in industrialization, OEM demand is expected to rise, the production of automotive bearing is not the economy, which seriously affect the bearing needs. In the Chinese bearing industry, automotive and motorcycle bearings are the industry's largest users.

At present, China in the field of heavy-duty truck wheel bearing has been basically achieved localization, but in the field of high-end car wheel bearings only Wanxiangqian tide and so on a few few companies to obtain a breakthrough, import substitution has just begun.

In recent years, China's auto market has maintained a rapid growth trend, from the car ownership, per capita income, per capita car ownership and other factors to consider, the car is still in the incremental market, not transferred to the stock market. 2005 - 2008, the global automotive bearing industry market continues to grow. In 2009, by the global financial crisis, the global bearing industry market size fell 12.5 percent to 56.8 billion US dollars. By 2013, the global automotive bearing industry market size of 62 billion US dollars. China's automobile sales in 2010 to 18.06 million, car ownership of 78 million, thousands of people car ownership of 52, 1000 passenger car ownership of 33 vehicles.

Compared with the developed countries, China's auto market space is huge. It is expected that China's car sales will exceed 28 million in 2015, passenger car sales will reach 19.6 million, independent brand car companies through industrial mergers, technology research and development and market channels to develop and other factors, sales will exceed 10 million.

With the rapid development of the automotive bearing industry, the requirements of small and medium-sized bearings is getting higher and higher, and China's small and medium-sized bearings in the production of ordinary products still exist a large number of low-level production, resulting in a serious oversupply, due to fierce market competition , The price war intensified. In the next few years, the developed market of durable goods and automobile production will likely increase. As a result, the growth of automotive bearing in developed markets will be a further complement to the growth of the terminal sector, especially in the Chinese market.

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