BEIJING, Aug. 3 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, discusses automotive bearings market.
Frbiz reports that China's bearings industry after several years of construction and development, particularly since its reform, has formed a larger scale of production. For focus areas in Zhejiang and Jiangsu provinces, the private sector benefited from their own flexible operation, market economy and fair competitive environment. From China's reform policy and coastal conditions, a new force suddenly rises and business has expanded rapidly to occupy a large share of the bearings market; some companies are focusing on high-end products. Meanwhile, the world's leading bearings companies have entered China, forming joint ventures or wholly owned companies. In recent years, private enterprises showed strong growth, while the proportion of state-owned enterprises decreased year by year. With the deepening reform of China's property rights system, the proportion of state-owned enterprises will further decrease.
In the long-term, the demand is no doubt the key force that promotes the Chinese bearings industry's continued growth. Economic globalization and the transfer to the Chinese manufacturing industry has become a trend. The Chinese automobile market seems optimistic about the global outlook.
According to the China Bearing Industry Association, China's bearings manufacturers number more than 4,000 to 5,000. Because of the high requirements on auto bearings (http://www.frbiz.com/products/ ), from the present situation, the country will give the auto industry support, particularly for bearings companies.
Currently, the auto industry has seen leading bearings suppliers like ZWZ and LYC, which has improved the overall development faster. However, compared with the global bearings industry, China still lags behind in areas of high-precision performance, and high-tech and high-low ratio of value-added products. Local brands in China's commercial vehicle bearings market enjoy a higher market share, of which 1/3 of the products are high-end products.
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