According to the China Bearing Industry Association, driven by a surge in demand for small-sized bearings, the growth in output and profits in the industry in 2010 was close to 40%, and high-speed steel bearings and large aircraft bearings were jointly tackled.

It is reported that bearing exports will reach 4.15 billion sets in 2010, a year-on-year increase of 53.65%, an increase of 28.9% from 2008; foreign exchange earnings from exports will reach US$3.32 billion, a year-on-year increase of approximately 63.6%, and an increase of 11.4% over 2008.

According to the association’s sources, the major growth in exports is mainly due to the development of the bearing industry in China in recent years. The technical level of micro-bearing products is close to the international level and has occupied a stable market in the global micro bearing market.

According to reports, at present, the vast majority of local companies, including listed companies, produce small and medium-sized and small-sized bearings, and the output of large and medium-sized bearings accounts for less than 3%.

Cars Drive the Bearing Hot in the Countryside In January 2011, Axis Research confirmed that the China Bearing Industry Association has identified the company as the lead agency responsible for the development of high-speed railway bearings in the bearing industry. According to association sources, organizing and promoting the research and development of high-speed rail bearings will be one of the association's work centers in 2011.

Although the final statistics have not yet been released, but the previous data show that the main bearing business income in 2010 will exceed 100 billion yuan, reaching 120 billion yuan, the growth rate will reach 30%.

Driven by the automobile, agricultural machinery, and home appliance industries, the demand for small-sized bearings increased significantly in 2010. It is estimated that the annual bearing output will reach 15 billion sets, an increase of 36.36% over the same period of last year. It is estimated that the total profit can reach 6.5 billion yuan, an increase of 38.3% over the previous year.

The high-speed rail market will become the development direction of the industry According to the “Long-Term Railway Network Planning (2008 Adjustment)”, by 2012, China will build 42 high-speed rail passenger lines, with a total mileage of more than 13,000 kilometers; by 2020, China’s high-speed railway mileage will reach 1.8 Million kilometers.

Association members believe that in 2011, the volatility of automobiles, agricultural machinery, household appliances and other markets will have an impact on the speed of development of the bearing industry. At the same time, as the exchange rate of RMB rises, the competitiveness of ordinary bearings and mid-range bearing products will further increase. Weakened, therefore, the growth of the bearing industry in 2011 will slow down.

However, with regard to the longer-term time span, driven by the high-speed rail industry, the development prospects of the bearing industry are still very impressive.

The industry believes that, according to the current working speed, if all goes well, in the next two to three years, domestic high-speed rail bearings are expected to achieve matching. Compared with nearly 40% of the results in 2010, the China Bearing Industry Association has reduced the growth rate of the bearing industry in 2011.

Hong Yuan Securities analyst Jian Jian believes that this means that China's high-speed rail bearing market will exceed 2 billion yuan in the next three years, and there will be huge room for future import substitution.

The industry believes that if the development goes smoothly, high-speed rail bearings will take over the banner of small bearings and become a strong driving force for future industry growth.