Analysis on market competition pattern of bearing manufacturing industry

Bearing is an important part of modern mechanical equipment, its main function is to support the mechanical rotating body, reduce its friction coefficient in the process of motion, and ensure its rotation accuracy. Therefore, its application range is very wide and the market demand is strong. Asia, represented by China and Japan, accounts for half of the global bearing consumption and becomes the largest bearing consumer market in the world. Europe and North America followed closely, with 25% and 20% respectively

 After years of industrial competition, the global bearing industry has formed a monopolistic competition pattern. The market is divided by eight multinational groups of Sweden, Germany, Japan and the United States, including Swedish enterprise SKF, German enterprise Schaeffler (ina + fag), Japanese enterprise NSK, NTN, Minebea, Nachi, jtket and American Enterprise timket. These eight companies account for more than 70% of the global market share.