I. Key Highlights and Positive Signals

Overall Exports Remain Resilient:

Despite the pressure of slowing global economic growth, according to data from the General Administration of Customs of China and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, China's total and valued bearing exports remained relatively stable from 2023 to early 2024, even experiencing slight growth in certain months and specific categories. This demonstrates the strong resilience of China's bearing industry chain and its indispensable position in the global market.

Continuous Optimization of Product Structure:

Export products are no longer limited to traditional, low-value-added small and medium-sized deep groove ball bearings. The proportion of exports of high-precision, high-reliability, and high-value-added bearings has increased year by year, such as:

New Energy Vehicle Bearings: With the global electric vehicle market booming, demand for high-performance bearings for motors and gearboxes has surged, and leading Chinese companies have performed exceptionally well in this field. Wind turbine bearings: Main shaft bearings and yaw and pitch bearings for large wind turbines are key technological breakthroughs for Chinese companies, which have achieved mass export and successfully entered the supply chains of major international wind turbine manufacturers.

High-end CNC machine tool and robot bearings: Research and development of bottleneck technologies such as precision screw support bearings and RV reducer bearings have yielded results, enabling them to replace imports and expand overseas.

Market diversification strategies are paying off:

While consolidating traditional emerging markets such as Southeast Asia, India, Russia, and Brazil, Chinese bearing companies are actively exploring emerging markets such as the Middle East and Africa, effectively diversifying their exposure to a single market.

Despite facing trade barriers, some companies have successfully maintained effective supply to the North American and European markets by establishing overseas factories, such as production bases in Southeast Asia.