NEW YORK, May 24, 2016 /PRNewswire/ -- Bearing, a critical component for contemporary mechanical equipment, finds wide applications in automobile, electromechanics, construction machinery, household appliances, metallurgy and mining machinery, etc..
In 2010-2015, the global bearing industry grew steadily, as the output jumped at a CAGR of 9.9%. The output is expected to be 100.5 billion sets with a year-on-year growth of 10.9% in 2016, and exceed 150 billion sets in 2020.
As one of major bearing producers in the world, China produced 22 billion sets of bearings in 2015 (accounting for 24.3% globally), basically same with last year. As the bearing industry gradually stabilizes, Chinese policies will continue to encourage the development of high-end bearing products during the Thirteenth Five-year Plan period, thereby promoting the further development of the bearing industry. In 2016-2020, China's bearing output is expected to grow at a CAGR of 7.8%.
About 1/4 of bearings produced by China are exported. In 2015, Chinese bearing import and export market saw a trade surplus for the first time, namely China exported 5.46 billion sets of bearings (edging up 1.7% year on year) and fetched the export value of USD4.7 billion (up 24.7% year on year); the average export price increased by 22.6% year on year to USD0.86 per set.
In China, bearings are mainly used in automotive, motorcycle, wind power, railway and other fields. Driven by policies and market development, the demand of automotive and wind power fields for bearings will grow steadily in future. The average annual growth rate of the auto bearing demand is estimated at about 5% in 2016-2020, while the demand for high-end auto bearings will grow at more than 10%; the demand for wind power bearings will slow down, but will maintain the growth rate of above 10% in the next few years.
The global bearing market is mainly occupied by Japanese and European companies. In 2015, Sweden SKF still ranked the world's first with 11.4% market share, followed by Germany Schaeffler with 9.6%.
The largest Chinese bearing manufacturer C & U Group seized 4.3% market share in China, but only 1.8% in the global market in 2015; the second-ranked Luoyang LYC Bearing garnered 3.1% market share in China and merely 1.3% in the world.
In 2015, CR10 of Chinese bearing market was 14.5%, an increase of 4 percentage points over 2014, mainly thanks to technological breakthroughs and better market competitiveness of Chinese enterprises in the past two years.
Luoyang LYC Bearing successfully produced the first set of 6 MW wind power spindle bearings in China in March 2016 to fill the company's gap in high-megawatt spindle bearings.
In 2016, wind power 2.0 MW and 2.5 MW speed-up machine bearings developed by Wafangdian Bearing Group cover low-speed and high-speed ends as well as realize installation, substituting the imported counterparts completely and breaking the long-term monopoly of foreign companies in this field.
Global and China Bearing Industry Report, 2016-2020 by ResearchInChina highlights the followings:
Global bearing market size, structure, competitive landscape, etc;
Development environments, status quo, market size, market structure, competitive landscape, import & export, etc. of China bearing industry;
Overview, market size, competition pattern, etc. of major upstream bearing industries (bearing steel, aluminum, copper, plastic, ceramics, etc.);
Development, product applications, etc. of main downstream bearing industries (automobiles, motorcycles, railway, wind power, engineering machinery, mining and metallurgy, etc.);
Operation, layout in China, bearing business, development, etc. of 8 global and 10 Chinese bearing manufacturers.
Read the full report: http://www.reportlinker.com/p0336659-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-and-china-bearing-industry-report-2016-2020-300274258.html