The bearing industry has achieved steady and relatively rapid development. The entire industry has earnestly implemented the “Plan for Adjusting and Revitalizing the Equipment Manufacturing Industry,” accelerated the transformation of its economic growth model, and focused on restructuring both product and market portfolios. Starting from the second half of 2009, the industry began to emerge from its trough, stabilize, and rebound, ultimately achieving relatively fast growth in 2010. According to statistics from the China Bearing Industry Association, in 2010, the bearing industry’s main business revenue reached 126 billion yuan, an increase of 36.96% over the 92 billion yuan recorded in 2009; bearing production totaled 15 billion sets, up 36.36% from the 11 billion sets produced in 2009; industrial value-added reached 36 billion yuan, a 20% increase over the 30 billion yuan in 2009; total profits amounted to 7.5 billion yuan, up 59.57% from the 4.7 billion yuan in 2009; and exports reached 3.302 billion U.S. dollars, a 63.47% increase over the 2.02 billion U.S. dollars in 2009—exceeding the pre-international financial crisis level of 3.1 billion U.S. dollars in 2008. However, imports totaled 3.809 billion U.S. dollars, leaving a trade deficit of 507 million U.S. dollars. The imported bearings mainly include high-end products such as wind turbine main shaft bearings and high-speed trainset bearings.
High-end hydraulic components remain a key bottleneck restricting the development of the construction machinery industry. According to statistics from the Construction Machinery Association, from January to December 2010, China’s excavator industry achieved cumulative sales of 165,800 units, representing a year-on-year increase of 78.52%. Among these, domestically branded products accounted for a market share of 28.30%. Currently, high-pressure, high-flow hydraulic components required for construction machinery still heavily rely on imports. According to incomplete customs statistics, hydraulic component imports in 2010 totaled 2.858 billion U.S. dollars, up 32% year-on-year; two-thirds of these imported hydraulic components were used in construction machinery, and 70% of the industry’s profits were absorbed by imported basic components. Due to factors such as high supply prices and unreliable delivery schedules, Chinese excavator manufacturers find it extremely difficult to gain the upper hand in the fiercely competitive market. There is an urgent need to enhance the level of self-sufficiency in fundamental components, including high-end hydraulic components.
The gear industry’s degree of industrial concentration has continued to rise. 2010 was a year of steady and relatively rapid growth for the gear industry. From January to December 2010, the gear and transmission systems industry achieved sales totaling 145 billion yuan, representing a year-on-year increase of 20%. Throughout the year, imports reached 9.8 billion U.S. dollars, up 35% from the previous year, while exports amounted to 2.2 billion U.S. dollars, up 28%. The trade deficit reached as high as 7.6 billion U.S. dollars. Among these imports, automotive automatic transmissions accounted for the largest share, representing nearly half of the industry’s total import value in 2009. In 2010, key leading enterprises in the gear industry saw another substantial increase in sales: Shaanxi Fast Gear Co., Ltd. recorded sales revenue of 12.618 billion yuan, an increase of 67.3%; Nanjing High-Precision Transmission Equipment Manufacturing Co., Ltd. achieved sales of 12 billion yuan, up 46.3%. These two companies were the first in the gear industry to exceed 10 billion yuan in both production and sales.
The hydraulic, pneumatic, and sealing industries have achieved rapid growth. In 2010, both domestic demand and imports of hydraulic, pneumatic, and sealing products in China grew rapidly at the same time. According to statistics from the China Hydraulic Pneumatic Sealing Components Industry Association, the entire industry realized a total industrial output value of 63.73 billion yuan in 2010, representing a year-on-year increase of 33.29%. Specifically: the hydraulic industry reached 35.13 billion yuan, up 30.35% year-on-year; the fluid power industry reached 1.98 billion yuan, up 23.52% year-on-year; the pneumatic industry reached 11.61 billion yuan, up 46.35% year-on-year; the rubber and plastic sealing industry reached 8.56 billion yuan, up 38.62% year-on-year; the mechanical sealing industry reached 3.83 billion yuan, up 29.83% year-on-year; and the mechanical and packing static sealing industry reached 2.62 billion yuan, up 19.09% year-on-year.
The fundamental mechanical components—primarily bearings, gears, hydraulic components, pneumatic elements, seals, and fasteners—are crucial foundational products for the equipment manufacturing industry. They directly determine the performance, level, quality, and reliability of major equipment and core machinery, and are key to transforming China’s equipment manufacturing sector from large-scale to strong.
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