(1) Demand-side competition pattern - Asia occupies half of the country
Bearing is a pivotal part in contemporary mechanical equipment, its main function is to support the mechanical rotating body, reduce the friction coefficient during its movement, and ensure its rotation accuracy. Therefore, its application range is very wide and the market demand is strong. The Asian region, represented by China and Japan, occupies half of the global bearing consumption and has become the world's largest bearing consumption market. Europe and North America followed closely behind, at 25% and 20%, respectively.
(2) Supply-side competition pattern - eight major groups divide the market
After years of industrial competition, the global bearing industry has formed a monopoly competition pattern, which is divided by eight multinational groups in Sweden, Germany, Japan and the United States, including the Swedish enterprise SKF, the German company Schaeffler (INA+FAG), the Japanese company NSK, NTN, Minebea, NACHI, JTKET and the American company TIMKET. These eight companies account for more than 70% of the global market share.
