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UnionPay letter analysis:
In recent years, the domestic bearing industry has rapidly expanded its production scale, with nearly 2,000 bearing companies, including more than 900 companies with sales revenues exceeding 5 million yuan, ranking first in the world. However, China's bearing industry still has problems such as low manufacturing technology level and low industry concentration, and the distance from the bearing powerhouse is still far away.
1. China's bearing industry has low production concentration. Of the world's approximately $30 billion in sales, the world's eight largest multinational companies account for 75%-80%. Germany's two major companies account for 90% of the country's total, five in Japan accounted for 90% of the country's total, and the United States accounted for 56% of its national total. And China's Wazhou and other seven bearing companies with annual sales of more than 1 billion yuan, sales accounted for only 28.3% of the industry, the production concentration of the top 30 companies is only 43.6%.
2. China's bearing industry has low R&D and innovation capabilities. Since most enterprises are still at a low level in the construction and operation of the innovation system, capital investment in research and development and innovation, and talent development, plus industry-oriented services.
Domestic abrasives technology research and bearing technology are out of touch
In recent years, the domestic bearing industry has rapidly expanded its production scale, ranking fourth in the world, and improving its technology and technology. However, the distance from the bearing strong country is still far away, mainly due to the low proportion of high precision, high technology content and high value-added products, poor product stability, low reliability and short life. Domestic bearing enterprises must realize the strategic goal of “making China's bearing industry move from bearing production to the world's bearing powers†​​proposed by the “Eleventh Five-Year Plan†of the bearing industry, and must increase investment in all aspects of technical equipment and talents. China Financial Dictionary