China's bearing industry has developed to the present, has a considerable production scale and a higher level of technology and quality. Bearing enterprises with a certain scale have grown to more than 1,500 and the number of employees has grown to nearly 800,000. The annual bearing output has increased from 138,000 units in 1949 to more than 2 billion units at present. The number of bearing types has increased from more than 100 to More than 7000, specifications up to more than 28,000. In the past 10 years, foreign well-known bearing companies (such as SKF, FAG, NSK, NBM, KOYO, TIMKEN, TORRINGTON, etc.) have successively invested and set up factories in China. They have improved the technical level of bearing design in China, the production process and production management standards, and production equipment. The modernization of the level, the quality of the product, and the improvement of the use performance have played a great role in promoting.

However, on the other hand, China's bearing manufacturing companies also face fierce competition and challenges from well-known foreign bearing companies. The results will inevitably accelerate the adjustment of the industrial structure and product structure of the bearing industry in China. It can be said that opportunities and challenges coexist, production and development. together. How to seize the opportunity to improve the viability of enterprises, and how to achieve sustainable and rapid development while surviving is an unavoidable and unavoidable issue facing the bearing industry in China.

At present, China’s bearing output reaches more than 2 billion sets, its output value has exceeded 20 billion yuan, its annual export volume exceeds 770 million sets, and foreign exchange earned through exports reaches approximately US$700 million, ranking fourth in the world, and satisfying more than 70% of domestic product varieties. To meet the required number of more than 90%, the export volume is also increasing at a higher rate.

While China is entering the ranks of the world's leading manufacturers of bearing production, we must also see the issue of low, loose and poor bearing industries. Ordinary miniature, small and medium-sized deep groove ball bearings are still undergoing heavy production at low levels, leading to serious oversupply. Due to fierce market competition, price wars have intensified. If this situation continues for a long time, it will inevitably affect the technical transformation and technological progress of the entire bearing industry, affect the reputation of our country's bearing products in the world, and seriously restrict the healthy development of China's bearing industry.

Bearings with strict quality requirements and high technological added value still require a lot of imports. Such as car bearings, high-speed, quasi-high-speed railway bearings, all kinds of imported equipment maintenance bearings, some high-precision, high added value and special bearings used in special working conditions, the supply gap is relatively large, China's production of bearing products in the performance and The price ratio, high precision, low noise, long life, high reliability, etc., have a large gap with well-known foreign companies.