Original title: Analysis of the current supply and demand situation of China's bearing industry market in 2021, with five major industrial clusters having their own characteristics "Figure"
1. Market size
The year 2021 marks the beginning of the 14th Five Year Plan in China. The overall macroeconomic situation of the country is stable, and the production and operation of industrial enterprises continue to recover. The overall production and operation of the bearing industry has maintained a good level of development. Since 2006, the scale of China's bearing market has gradually expanded. According to statistics, the scale of China's bearing market in 2021 was 227.8 billion yuan, an increase of 8% year-on-year. From the perspective of market size and sales revenue, China has become the third largest bearing production country in the world.
Market scale and growth rate of China's bearing industry from 2006 to 2021
资料来源：中国轴承工业协会，华经产业研究院
2. Production
In terms of output, in 2019, due to the impact of declining demand in downstream industries such as automobiles and machine tools, China's bearing output decreased, dropping to 19.6 billion sets, a year-on-year decrease of 8.8%. In 2020, it rebounded to 19.8 billion sets. By 2021, China's bearing output was 23.3 billion sets, a year-on-year increase of 32.7%.
Output and growth rate of China's bearing industry from 2009 to 2021
Source: China Bearing Industry Association, Huajing Industrial Research Institute
3. Import and export
From 2010 to 2020, China's bearings showed a stable trend of listing, with the export volume maintained between 4 billion and 6 billion sets, and the overall export volume was listed; As of 2021, China's bearing export volume reached 7.804 billion sets, a year-on-year increase of 32.7%, and the export volume reached 6.947 billion US dollars, a year-on-year increase of 43.69%, a record high.
Exports of China's Bearing Products from 2010 to 2021
Source: China Customs, organized by China Economic Industry Research Institute
The import scale of bearings in China is also relatively large, mainly due to the demand for international high-end bearings. According to statistics, in 2021, China imported 5.47 billion US dollars of foreign exchange for bearings, an increase of 25.3% compared to the same period in 2020, and imported 2.964 billion sets of bearings, an increase of 17.7% compared to the same period in 2020.
Import of Bearing Products in China from 2010 to 2021
Source: China Customs, organized by China Economic Industry Research Institute
The average price of each set of bearing products imported and exported in China is significantly different, with the export unit price basically being half of the import unit price. Although the gap has decreased since 2016, it basically returned to the 2:1 level in 2020, which also indicates that the added value of bearing products exported in China is relatively low, and China's bearing products urgently need to climb the middle of global value to improve their export competitiveness.
Comparison of average import and export prices of bearing products in China from 2010 to 2021
Source: China Customs, organized by China Economic Industry Research Institute
Original title: Analysis of the current supply and demand situation of China's bearing industry market in 2021, with five major industrial clusters having their own characteristics "Figure"
Huajing Industry Research Institute has conducted in-depth analysis on the development status of China's bearing industry, upstream and downstream industry chains, competitive patterns, and key enterprises, to minimize enterprise investment risks and operating costs, and improve enterprise competitiveness; And use a variety of data analysis techniques to predict industry development trends, so that enterprises can seize market opportunities in a timely manner; For more detailed information, please pay attention to the "2022-2027 China Bearing Market Competition Situation and Industry Investment Prospect Prediction Report" published by the Huajing Industry Research Institute.
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