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1、CONTENTS Error! No text of specified style in document. May 2011 | 1-800-330-3772 | IBISWorld Industry Report 3551 Bearing Manufacturing in China May 2011 About This Industry . 2 Industry Definition . 2 Main Activities . 2 Similar Industries 2 Additional Resources 2 Industry Performance 4 Executiv
2、e Summary 4 Key External Drivers . 4 Current Performance 5 Industry Outlook 7 Industry Life Cycle 9 Products launching new, advanced bearing products for industries such as aeronautics and astronautics industries; and developing substitutes for imported bearing products. Both domestic and foreign en
3、terprises also increased investment in developing new production techniques, including heat treatment techniques, cold ring rolling techniques, bearing inspection techniques and new software. These advanced technologies significantly improved the quality and life span of bearing products, as well as
4、 the industrys productivity and efficiency. WWW.IBISWORLD.COM.CN Bearing Manufacturing in China May 2011 7 Industry Outlook ACMR-IBISWorld forecasts that in the five years through 2016, revenue of the Bearing Manufacturing Industry in China will increase at an annualized growth rate of 12.2% to $51.
5、1 billion in 2016. This performance will be driven by the construction of the South-to North Water Diversion project, the West-to- East Electric Power Transmission project and the West-to-East Gas Transmission project, which will increase demand for bearing products. The continued strong development
6、 of Chinas automobile and appliances industries will have positive effects on this industrys development. Domestic demand is forecast to be stimulated by government investments in the 12th Five-Year Plan. Technology and imports New technology and products will be developed as the industry increases
7、investment in R NSK Ltd. (Japan); Koyo Seiko Co., Ltd. (Japan); NTN Mfg. Co. Ltd. (Japan); Minebea Co. Ltd. (Japan); Nachi- Fujikoshi Corp. (Japan); the Timken Company (United States); and Schaeffler Group (Germany). These manufacturers dominated the high-end of the market in China after entering th
8、e Chinese market by establishing joint ventures or wholly owned foreign enterprises (this trend increased in the years following Chinas accession to the World Trade Organization in 2001). These firms then enlarged production to pursue economies of scale. Some multinationals founded their own researc
9、h institutes and sales networks in China to meet the requirements of Chinese clients. Foreign bearing manufacturers generated 25% of total industry revenue in 2010. Because foreign enterprises generally have advanced technologies and management, the market share of these companies is forecast to con
10、tinue to increase in the future. Trends The globalization level of the Bearing Manufacturing industry in China is expected to increase in the future. More foreign enterprises are expected to enter this market in the following years. Due to the continuous building of domestic brands, more Chinese com
11、panies will operate in foreign countries. Enterprise ownership shares, 2010 Ownership Revenue share Percentage Enterprise share Percentage State owned 4.6 0.9 Collectively owned 2.0 1.1 JECE* 0.5 0.9 Shareholding 4.4 1.5 Private 48.5 68.6 Foreign 25.5 14.6 Other 14.3 13.4 SOURCE: NATIONAL BUREAU OF
12、STATISTICS CHINA NOTE: *JOINT EQUITY COOPERATIVE ENTERPRISE WWW.IBISWORLD.COM.CN Bearing Manufacturing in China May 2011 24 Major Companies Major Player Market Share Wafangdian Bearing Group Corporation 4.7% (2011) Luoyang LYC Bearing Co., Ltd. 2.9% (2011) Minebea Electronics & Hi-Tech Components (S
13、hanghai) Ltd. 2.5% (2011) Zhejiang Jianli Group Co., Ltd. 1.5% (2011) Harbin Bearing Group Corporation 1.1% (2011) Other 87.3% (2011) Wafangdian Bearing Group Corporation Market Share: 4.7% Wafangdian Bearing Group Corporation (WBGC) was a state-owned enterprise established in 1938. WBGC has now bec
14、ome the largest bearing manufacturer in China, ranking 13th within the global bearing manufacturing industry. The company produces constant velocity joints, car hub bearings, drawn cup bearings and special use bearings such as slewing bearings, ceramic ball bearings, insulation bearings and anti-cor
15、rosion bearings. The companys products are used in various industries and high-tech fields, including railway, automotive, mining, water conservation, power, electrical motors and special machine tools. The company employs 13,600 staff and recently founded branches in Sweden, the United States and J
16、apan. Company revenue in 2007 amounted to $512.8 million, up 22% for the year due to strong domestic and foreign demand. In line with overall industry performance, company revenue is estimated to increase by 41.3% and 10.9% in 2008 and 2009 respectively. In 2010, company sales revenue amounted to an
17、 estimated $974.8 million, up 21.3% from 2009. Both domestic and overseas market demand increased due to the overall economic recovery from the 2009 crisis. The company increased investment in precision instrument manufacturing, which decreased the industrys import volumes of related products on a l
18、arge scale and resulted in more sales revenue of the company. Wafangdian Bearing Group Corporation - financial performance Year Revenue US Million Dollars Growth % change Assets US Million Dollars Growth % change NPBT US Million Dollars Growth % change 2004 370.0 N/C 483.1 N/C 14.2 N/C 2005 397.9 7.
19、5 555.0 14.9 16.3 14.8 2006 420.3 5.6 596.0 7.4 19.1 17.2 2007 512.8 22.0 670.9 12.6 29.2 52.9 WWW.IBISWORLD.COM.CN Bearing Manufacturing in China May 2011 25 2008* 724.6 41.3 909.7 35.6 47.0 61.0 2009* 803.6 10.9 1062.6 16.8 41.6 -11.5 2010* 974.8 21.3 1283.6 20.8 60.5 45.5 SOURCE: ANNUAL REPORT NO
20、TE: *ACMR-IBISWORLD ESTIMATE Luoyang LYC Bearing Co., Ltd. Market Share: 2.9% Luoyang LYC Bearing Co. Ltd (LYC) is a new state-owned company that was founded in 2004 through the reorganization of the assets and core business of Luoyang Bearing Group, and investment from Yongcheng Coal and Electricit
21、y Group Co. Ltd. LYC employs over 8,600 people and provides products covering more than 10,000 types of rolling bearings for industries such as railway, mining, electrical motors, national defense, medical devices, aeronautics and petroleum machines. By 2006, LYC owned 13 factories and had sales off
22、ices in more than 30 cities in China. Strong company revenue growth continued in 2007 following new product developments in the previous few years. Company revenue and assets increased strongly as volumes grew, although profits declined due to higher costs. In 2010, sales revenue of LYC increased by
23、 31.2% from 2009, to $662.8 million. It has been the choke point of the industry for years that most of its products are low-end, which has led to low competitiveness and limited profitability. Therefore, YTO emphasized product quality through high-quality raw materials and considerable scientific r
24、esearch investment. This strategy ensured the company a leading place in the industry. In April 2006, LYC launched a bearing separator for the first Chinese crane separator, and in August the bearings for the first 1.5 MW wind power generator were developed. Two types of large-size gears were also e
25、xported to South Korea for the first time in 2006. The company also began to adjust its product mix to enlarge the proportion of large-size products. About 161 new large-size bearings were put into production, generating sales revenue of $45.2 million for the company. The sales revenue of LYC increa
26、sed by 21.7% in 2006 to $184.9 million. Total assets declined to $157.3 million, down by 1.4% from 2005, due to the adjustment of the companys product structure. The success of the Chinese-manned spacecraft Shenchou VI in October 2005 strengthened LYCs brand awareness, as the company was the bearing
27、 supplier for the Shenchou series. LYC also completed the bearings for Change-1, the first moon-orbiting satellite. The company ranked first in terms of the sales revenue in the military use bearings market. Luoyang LYC Bearing Co. Ltd - financial performance Year Revenue US Million Dollars Growth %
28、 change Assets US Million Dollars Growth % change NPBT US Million Dollars Growth % change 2005 151.9 N/C 159.5 N/C 4.6 N/C 2006 184.9 21.7 157.3 -1.4 4.9 6.5 2007 300.9 62.7 252.9 60.8 3.3 -32.7 WWW.IBISWORLD.COM.CN Bearing Manufacturing in China May 2011 26 2008* 453.5 50.7 338.1 33.7 12.6 281.8 20
29、09* 505.2 11.4 384.1 13.6 10.5 -16.7 2010* 662.8 31.2 463.2 20.6 11.9 13.8 SOURCE: ANNUAL REPORT NOTE: *ACMR-IBISWORLD ESTIMATE Minebea Electronics & Hi-Tech Components (Shanghai) Ltd. Market Share: 2.5% Minebea was founded in 1951 in Tokyo with its original name Nippon Miniature Bearing Co. Ltd. Th
30、e company manufactures miniature ball bearings. Minebea has established four production bases, in the United States, Singapore, Taiwan and Thailand. Minebea began operations in China in 1994 when Minebea Electronics and Hi-Tech Components (Shanghai) Ltd. (MEHC) was established in Shanghai, producing
31、 miniature and small-size ball bearings, fan motors, integrated-shaft ball bearings and measuring components, accounting for 24% of the overall group output. As exports accounted for 94.4% of the overall sales revenue, the company had lower revenue growth in 2009 when the global recession cut off a
32、large proportion of overseas demand. However, the economy recovered gradually and sales revenue of the company was an estimated $340.7 million in 2010, up 7.9% from 2009. Company assets and profits declined in 2007 as higher costs and increased competition continued to stifle company growth. However
33、, company revenue increased slightly as exports grew during the year. In 2006, MEHCs sales revenue and total assets decreased by 7.8% and 2.5% respectively, as lower prices and greater competition hindered company growth. The company still ranked second in the industry in terms of its sales revenue,
34、 which accounted for 3.3% of industry revenue in 2006. Both sales revenue and profits increased in 2005, which totaled $298.2 million and $28.4 million respectively, up 15.2% and 28.4% from 2004. Strong domestic demand and increased export growth drove these increases. MEHC launched the combination
35、of two new types of fluid dynamic bearings (FDB) in 2004. These two bearings enabled the company to realize economies of scale and maintain price advantages based on good quality. Company sales increased 11.1% to $258.9 million, while additional product costs resulted in a profit decline of 20.7% to
36、 $21.9 million. WWW.IBISWORLD.COM.CN Bearing Manufacturing in China May 2011 27 Minebea Electronics & Hi-Tech Components (Shanghai) Ltd - financial performance Year Revenue US Million Dollars Growth % change Assets US Million Dollars Growth % change NPBT US Million Dollars Growth % change 2004 258.9
37、 N/C 345.1 N/C 21.9 N/C 2005 298.2 15.2 333.3 -3.4 28.4 29.7 2006 274.9 -7.8 325.1 -2.5 16.4 -42.3 2007 283.3 3.1 309.0 -5.0 10.8 -34.1 2008* 301.3 6.4 391.2 26.6 20.9 93.5 2009* 315.8 4.8 446.0 14.0 14.8 -29.2 2010* 340.7 7.9 501.7 12.5 16.3 9.8 SOURCE: ANNUAL REPORT NOTE: *ACMR-IBISWORLD ESTIMATE
38、Zhejiang Jianli Group Co., Ltd. Market Share: 1.5% Zhejiang Jianli Group Co. Ltd was a private company established in 1993 in Zhejiang province. It now has over 1,800 staff. There are three main factories within Zhejiang Jianli Group, namely Jianli Hot Rolling Factory, Jianli Steel Pipe Factory and
39、Jianli Bearing Factory. Zhejiang Jianli Group Co. Ltd and Harbin Bearing Co Ltd invested its cold-drawn production lines and the facilities, techniques, workers and capital of its subsidiaries in 2002. The new factory was an independent entity that was mainly engaged in manufacturing bearings with t
40、he brand of HRB. ZhejiangJianli Group Co. Ltd was the largest manufacturer of seamless bearing steel. Expecting the seamless bearing steel market to become saturated, the company adjusted its product mix by constructing a new petroleum pipe production line in 2006, which was completed and put into o
41、peration in 2007. In 2006, sales revenue and total assets of Zhejiang Jianli increased by 35.6% and 9.8% respectively. They increased a further 35.7% and 25.8%, respectively in 2007, as domestic and foreign demand continued to grow strongly. During 2009, Jianli Group suffered a 15.8% countervailing
42、tariff sanction imposed by the US Government, which led to significant slowdown in sales revenue growth. Therefore, the group has been considering setting up overseas manufacturing bases in case of anti-dumping and anti-subsidy sanctions. In 2010, sales revenue of the group was estimated to increase
43、 by 27.6% compared with 2009, recovering from the world economic slowdown. Zhejiang Jianli Group Co. Ltd - financial performance Year Revenue US Million Dollars Growth % change Assets US Million Dollars Growth % change NPBT US Million Dollars Growth % change WWW.IBISWORLD.COM.CN Bearing Manufacturin
44、g in China May 2011 28 2005 92.8 N/C 54.3 N/C 10.7 N/C 2006 125.8 35.6 59.6 9.8 11.4 6.5 2007 170.7 35.7 75.0 25.8 11.5 0.9 2008* 257.9 51.1 97.7 30.3 18.6 61.7 2009* 283.5 9.9 114.6 17.3 13.2 -29.0 2010* 361.7 27.6 135.3 18.1 14.6 10.5 SOURCE: ANNUAL REPORT NOTE: *ACMR-IBISWORLD ESTIMATE Harbin Bea
45、ring Group Corporation Market Share: 1.1% Harbin Bearing Group Corporation (formerly Harbin Bearing Factory) is a state-owned company that was established in 1950. The company manufactures over 6,000 types of bearings for the production of automotives, agriculture machinery, electric motors, electri
46、c machines and machine tools for industries such as metallurgy, mining, petrochemicals, aeronautics and national defense. Harbin Bearing Group owns more than 20 factories and employs more than 10,000 people. Harbin Bearing Group Corporation and Wadianfang Guangyang Bearing Group established a strate
47、gic alliance in 2003 in order to maintain their competitive advantages. The company owned a production capacity of 56 million sets of bearings by 2010. Sales revenue of the group amounted to $443.1 million, up 32.5% from 2009. Profits increased by a higher 35.8%, which indicated the rapid developmen
48、t of the bearing manufacturing industry in recent years. In 2011, China Aviation Group acquired Harbin Bearing factory for $88.6 million. Revenue and assets increased steadily in 2006 and 2007 due to increased domestic and foreign demand. Profits increased by 66.7% in 2005 to $2.0 million, due to st
49、rong downstream demand for bearings and significant increases in demand for exports. Revenue and total assets both increased steadily during the year. Harbin Bearing Group Corporation - financial performance Year Revenue US Million Dollars Growth % change Assets US Million Dollars Growth % change NPBT US Million Dollars Growth % change 2004 93.2 N/C 443.7 N/C 1.2 N/C 2005 102.9 10.4 470.4 6.0 2.0 66.7 2006 108.1 5.1 518.8 10.3 2.5 25.0 2007 127.5 17.9 598.1 15.3 -5.5 N/C 2008* 189.5 48.6 766.2 28.1 6.8 N/C 2009* 334.4 76.5 857.3 11.9 6.