China Bearings Market (2023-2029) | Industry, Growth, Share, Revenue, Value, Size, Outlook, Analysis, Trends, Segmentation & COVID-19 IMPACT

China Bearings Market | Country-Wise Share and Competition Analysis

In the year 2021, Italy was the largest exporter in terms of value, followed by Japan. It has registered a growth of 52.17% over the previous year. While Japan registered a decline of -57.82% as compared to the previous year. In the year 2017, the USA was the largest exporter followed by Germany. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, China has a Herfindahl index of 1293 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of  1195 which signifies high competitiveness in the market.

China Bearings Market - Export Market Opportunities

Topics Covered in China Bearings Market Report

The China Bearings Market report thoroughly covers the market by product and application. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

China Bearings Market Synopsis

China Bearings Market is becoming increasingly popular and it is estimated to obtain impressive growth during the forecast period. Efforts from the government, the rising automotive industry, and automation are some of the factors which are accelerating the market growth.

According to 6Wresearch, China Bearings Market size is anticipated to rise significantly during 2023-2029. This sector is emerging effectively in the country and becoming more popular with each passing year since bearings are used in many major industries which include aerospace, automotive, energy, industrial machinery, and construction. Owing to the large population of the country, there is a huge demand for automobiles, and growth in the automotive industry leads to growth in the bearing market since bearings are highly used in the automotive market for engines as well as transmissions of vehicles. Rising disposable incomes enable people to spend their money in the vehicle of their choice which also increases the sales of automobiles, further boosting the China Bearings Market Growth. The manufacturing sector is also a huge consumer of bearings. The country’s government is putting all efforts to upgrade and modernize domestic industries via initiatives like Made in China 2025. The goal of this program is to change industries in China into high-tech leaders by inspiring technological advancements and innovation. In addition to this, the strategic location of the country along with Belt as well as Road initiatives has enabled it to tap into new industries and increase its reach across the world. Another driver for the market is that it is a crucial part of the Asia Pacific Bearings Market.

COVID-19 Impact on China Bearings Market

The coronavirus pandemic disrupted the economy of the country which declined the growth of Bearings Market in China. The outbreak of the pandemic caused a major reduction in demand for bearings since factors shut down their operations as well as supply chains were disrupted. With safety protocols in place, as well as manufacturing resumed at a steady pace, the market started operating well. Increased government spending on infrastructure projects boosted the demand for bearings that are used in construction machinery. The pandemic still presenting challenges in the market despite these positive developments. International travel restrictions made it challenging for companies to attend overseas trade shows as well as discover new business opportunities.

Key Players in China Bearings Market

It is through the efforts of key players that the market gets success. There are many players exist in the Bearings Market in China, but only a few players have established a strong presence and these players are TIMKEN Company Ltd., SKF Group, Schaeffler AG, NTN Corporation, NSK Ltd., JTEKT Corporation, THK CO LTD., NACHI-FUJIKOSHI CORP., Wafangdian Bearing Co Ltd (ZWZ), and LYC Bearing Corporation. These companies are playing an important role in ensuring high-quality products reach and driving innovation. These companies constantly invest in research and development activities in order to understand which area of the product they need to work so they are aligned with the needs of their customers.

Market by Product

According to Nikhil, Senior Research Manager, 6Wresearch, the roller bearings segment has opportunities to rise in the market since this segment has been accomplishing the largest share of the market.

Market by Application

The automotive segment by application is projected to have dominance over the China Bearings Industry due to the fact that the automotive sector is the major consumer of bearings.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• China Bearings Market Outlook
• Market Size of China Bearings Market, 2022
• Forecast of China Bearings Market, 2029
• Historical Data and Forecast of China Bearings Revenues & Volume for the Period 2019 - 2029
• China Bearings Market Trend Evolution
• China Bearings Market Drivers and Challenges
• China Bearings Price Trends
• China Bearings Porter's Five Forces
• China Bearings Industry Life Cycle
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Product for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Ball Bearings for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Roller Bearings for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Application for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Automotive for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Agriculture for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Electrical for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Mining & Construction for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Railway & Aerospace for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Automotive Aftermarket for the Period 2019 - 2029
• Historical Data and Forecast of China Bearings Market Revenues & Volume By Others for the Period 2019 - 2029
• China Bearings Import Export Trade Statistics
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Application
• China Bearings Top Companies Market Share
• China Bearings Competitive Benchmarking By Technical and Operational Parameters
• China Bearings Company Profiles
• China Bearings Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product

• Ball Bearings
• Roller Bearings

By Application

• Automotive
• Agriculture
• Electrical
• Mining & Construction
• Railway & Aerospace
• Automotive Aftermarket
• Others