Bearing industry forecast future growth rate up to 15%

According to the China Bearing Industry Association, it is estimated that the sales revenue of the bearing industry can increase by about 15% this year, and bearing output can increase by about 17%. According to reports, the performance of the bearing industry this year is “high before and after low”, and the growth of the entire industry is mainly achieved in the first half of the year.

Association data show that from January to October, bearing output of key enterprises increased by 12.46% year-on-year, main business revenue increased by 13.78% year-on-year, bearing business revenues increased by 15.64% year-on-year, export product revenues increased by 25.15% year-on-year, and profits increased by 19.06% year-on-year.

According to the association’s sources, “In the second half of the year, the industry has entered a clear downward trend, and the development trend is not optimistic.” He said that at present, due to the obvious decline in the demand for mainframe supporting markets, the export market has declined, the company’s inventory has increased, and the company’s operating environment has developed in an unfavorable direction. Sequential competition has intensified and the development of the entire industry has encountered major difficulties.

This person expects that "this difficulty will increase in the first half of next year, especially in the first quarter."

Despite the current difficulties, people in the industry are still optimistic about the prospects of the industry. In the second half of this year, the Ministry of Industry and Information Technology released the “Twelfth Five-Year Development Plan for Machinery Basic Parts, Basic Manufacturing Processes and Basic Materials Industry”, which clearly categorizes the bearing as a key industry that needs to be developed. It is required that by 2015, the sales of the bearing industry It will reach 222 billion yuan, and the average annual growth rate of the industry will be between 12%-15%.

The China Bearing Industry Association made it clear that in 2012, efforts will be made in the strategic emerging industries as well as in the autonomy of key products, major special projects, and key supporting products, in an effort to win more voices for enterprises.