Demand for Chinese Bearings During the 11th Five-Year Plan
Resource from: cbcc-yinx Likes:2935
Mar 16,2007
Demand for Chinese Bearings During the 11th Five-Year Plan
During the period of the 11th Five-Year Plan, both domestic and overseas customers will not care the total output of Chinese bearings. Instead, they are interested in bearing’s portfolio and progresses in capacity of high precision, high technical content and high value added bearings, namely the “3H” bearings, as well as the special bearings. Substitution for imported ones are expected to be the new source of economic growth. At the same time, export of 3H bearings should be expanded.
The demand from domestic customers can be divided into two parts: regular supply for M.E. enterprises and others for aftermarket.
Domestic demand for bearings totaled 3.3 billion in 2004. The figure rose to 3.6 billion in 2005, an increase of 10 percent. It’s estimated that China’s economy would grow by an annual rate of 7 to 7.5 percent during the 11th Five-Year Plan.
Given the fact that machinery industry always increase faster than the national economy, domestic demand for China made bearings will grow by an annual rate of about 10 percent. Therefore, domestic demand for Chinese bearings are going to hit 5.6 billion, with sales of 68 billion yuan in 2010.
The overseas demand is determined by international competitiveness and marketing strategy of domestic enterprises. In recent years, China has been making rapid progress in bearing export. In 2004, bearing export reached 2.27 billion, bringing USD1.14 billion. Its bearing export has accounted for 60 percent of the world total in quantity and about 20 percent in value. At present, the global bearing demand is worth USD33 billion, the figure are likely to surge to USD40.5 billion in 2010.
The steadily expanding global market provide opportunities for bearing exporters in China. During the 11th Five-Year Plan, we should stride forward a new step in terms of bearing export, by making good use of our existing price advantage and raising 3H products’ proportion in export.
Based on our current condition in bearing export and the market trend, bearing export will expand by an average pace of 8 percent in every single year in the 11th Five-Year Plan period from 2006 to 2010. China’s bearing export are expected to hit 4 billion, earning USD2 billion in 2010.
In short, domestic and overseas demand for Chinese bearings will be 9.6 billion. Subtracting 2.4 billion imported ones, Chinese bearing producers have to make 7.2 billion to meet the demand from both domestic and overseas customers.
(cbcc-yinx)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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