The Internationalization of the Market Competition in Chinese Bearing Industry
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Chinese consumers' high demands for vehicles attract more and more global car manufacturers who do their efforts to develop new car models. Those global car manufacturers put new models into the domestic market. Thus, car industry has high requirements for the product research & development of the domestic parts industry. As a result, the huge market space of the automotive components is occupied by the multinational companies which own advanced technology and products.
The Internationalization of the Market Competition in Chinese Bearing Industry
The Internationalization of the Market Competition in Chinese Bearing Industry
In the bearing industry, based on production technology of the high-precision bearings (mainly used for engines, transmissions, and wheel hubs), many world bearing manufacturers actively build production system in China. At the same time, they also monopolize the high-end market by wholly-owned subsidiary, or reorganization and merger of Chinese companies. The world's leading multinational companies such as SKF bearings, Schaeffler Group, Timken, and NSK have joint ventures or wholly owned plants in China. It is obvious that the international competition has become the main characteristics in domestic bearing market competition
The Internationalization of the Market Competition in Chinese Bearing Industry
The Internationalization of the Market Competition in Chinese Bearing Industry
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The Internationalization of the Market Competition in Chinese Bearing Industry
Meanwhile, driven by demands in foreign markets, many domestic parts enterprises export large amount of bearing products through networks platform. According to the statistics from a well-known automotive e-commerce platform, the frequency of bearing products export reached 295 during January to June in 2010. It showed significant increase.
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The Internationalization of the Market Competition in Chinese Bearing Industry
In 2009, China's auto output and sales volume reached the number one in the whole world. The consumption of cars in the domestic market had entered a rapid development stage. It is predicted that in the next three years, there will be more than 30% rate of growth of car consumption in the domestic market. The rapid development of automobile industry makes the demands for the automotive bearing products increase sharply. In this context, the matching amount of China's bearing industry has the highest record in history. Liu Enshi, the director-general of China Bearing Industrial Association (CBIA), said that a car needs about 50 sets of bearings; that is to say, it is a very huge market for the bearing industry.
"Currently, many industries have much demand for bearing products, especially the automotive industry which has the largest consumption of them. Automobile transmissions, engines, axles and other key assembly must use bearings. Although car bearing is a small part, it has a close relationship with the reliability, safety, and comfort of the car." said Wan Lushun, the president and general manager of ZWZ. It is said that bearing is also called "joint of the automotive industry". It is the basis for the automotive transmission. Bearings are required in most rotating parts.
The Internationalization of the Market Competition in Chinese Bearing Industry
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The Internationalization of the Market Competition in Chinese Bearing Industry
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