1. market size

According to the Champ Consulting Group,2023The size of China's automotive bearing market is expected to reach254.8Billion yuan, year-on-year growth11.9%. Among them, the market size of hub bearings is81.5Billion yuan, accounting31.9%, year-on-year growth12.5%; Needle roller bearing market size is54.6Billion yuan, accounting21.4%, year-on-year growth11.2%; overrunning clutch market size is40.7Billion yuan, accounting16%, year-on-year growth10.8%; the market size of deep groove ball bearings is38.4Billion yuan, accounting15.1%, year-on-year growth12.1%; other types of bearings market size is39.6Billion yuan, accounting15.5%, year-on-year growth11.5%。

The growth of the market size is mainly due to the following factors:

（1) The rebound in automobile production and sales. Affected by the new crown epidemic,2022China's auto production and sales declined in 2012, but with the progress of epidemic prevention and control and economic recovery,2023The auto market is expected to rebound. according to the prediction of champ consulting,2023China's auto production and sales will reach3000million and2950Ten thousand vehicles, year-on-year growth8%and7.5%. The increase in automobile production and sales will drive the growth of demand for automotive bearings.

（2) The rapid development of new energy vehicles. With the national policy support for new energy vehicles and the improvement of consumer recognition, the new energy vehicle market has shown a rapid growth trend. According to the projections of Champ Consulting,2023China's new energy vehicle production and sales will reach600million and580Ten thousand vehicles, year-on-year growth40%and38%. The demand and quality requirements of new energy vehicles for bearings are higher than those of traditional fuel vehicles, so it will promote the upgrading of the automotive bearing market.

（3) Import substitution of high-end bearing products. At present, there is still a certain technical gap and brand lack in China's automotive bearing industry, and high-end bearing products mainly rely on imports. However, as domestic enterprises increase technological innovation and R & D investment, some high-end bearing products have been localized. Under the background of encouraging independent innovation and improving self-sufficiency rate, domestic high-end bearing products are expected to replace some imported products and increase market share and added value.

2. Production and Sales

According to the Champ Consulting Group,2023China's automotive bearing output is expected to reach26.8Billion sets, year-on-year growth10.5%; sales volume is expected to reach25.9Billion sets, year-on-year growth10.2%; export volume is expected to reach4.2Billion sets, year-on-year growth9.8%; import volume is expected to reach3.3100 million sets, down year-on-year.5.6%. The production and sales rate is expected to be96.6%A slight decline.

Changes in production and marketing are mainly influenced by the following factors:

（1) pull of domestic demand. With the recovery of the automobile market and the popularity of new energy vehicles, the domestic demand for automotive bearings will continue to grow. At the same time, domestic automotive bearing enterprises have improved product quality and market competitiveness through technological innovation and brand building, and increased their domestic market share. These factors will promote the production and sales of domestic automotive bearings.

（2) Impact of international trade. Due to the price advantage and quality assurance of Chinese automotive bearings in the international market, they are welcomed by some developing countries and emerging markets.4. With the recovery of the global economy and the recovery of demand in the automotive market, China's exports of automotive bearings will continue to grow. But at the same time, due to some foreign developed countries on China's bearing products to implement anti-dumping and countervailing measures5As well as some domestic high-end bearing products to achieve import substitution, China's imports of automotive bearings will be reduced. These factors will lead to the impact of international trade on the production and sales of automotive bearings showing a trend of polarization.

3. price trend

According to the Champ Consulting Group,2023The average price of automotive bearings in China is expected to be9.8Yuan/sets, up year-on-year3.2%. Where the average price of hub bearings is15.8Yuan/sets, up year-on-year3.9%; The average price of needle roller bearings is10Yuan/sets, up year-on-year3.1%; The average price of the overrunning clutch is9.9Yuan/sets, up year-on-year2.6%; The average price of deep groove ball bearings is7.4Yuan/sets, up year-on-year3.5%; The average price of other types of bearings is9.7Yuan/sets, up year-on-year3.2%。

Changes in price movements are mainly influenced by the following factors:

（1) Fluctuations in raw material costs. Steel is the main raw material for automotive bearings, and its price fluctuations directly affect the cost of automotive bearings. According to data from the Champ Consulting Group,2022China's steel price index121.6Point, year-on-year increase18.7%. Influenced by supply and demand, environmental policies, iron ore prices and other factors,2023Annual steel prices will remain high volatility. This will lead to automotive bearing enterprises face greater cost pressure, part of the cost will be passed on to the product price.

（2) Optimization of product structure. With the development of the automotive market towards high-end, intelligent and environmental protection, the performance and quality requirements of automotive bearings are also increasing. Domestic automotive bearing enterprises through technological innovation and R & D investment, and constantly improve the accuracy of products, wear resistance, life and other indicators, to develop new products more adapted to market demand. These products generally have high added value and profit margins, which are conducive to raising the average price level of automotive bearings.

（3) the impact of market competition. China's automotive bearing industry is more competitive, there is a certain degree of overcapacity and low-end product homogenization phenomenon. In order to compete for market share and customer resources, some automotive bearing companies have adopted a price reduction strategy, resulting in a decline in product prices. At the same time, due to the implementation of trade protection measures by some developed countries on China's bearing products, the export space of China's bearing products is limited, and it also brings pressure to the vehicle bearing enterprises. These factors will restrict the price of automotive bearings.

4. competition pattern

According to the Champ Consulting Group,2023The market concentration of China's automotive bearing industry was low throughout the year, with the total market share of the top 10 companies.38.7%Among them, Zhejiang Wanxiang Bearing Co., Ltd. ranked first, with a market share8.2%; Shanghai Automotive Group Co., Ltd. ranked second with a market share6.5%; Harbin Bearing Group Co., Ltd. ranked third with a market share5.8%; The other seven enterprises are: Zhejiang Tianma Bearing Group Co., Ltd (4.9%), Hunan Great Wall Auto Parts Co., Ltd (4.2%), Zhejiang Yongsheng Bearing Co., Ltd (3.1%), Zhejiang Xizi Auto Parts Co., Ltd (2.7%), Zhejiang China Railway Bearing Co., Ltd (1.8%), Zhejiang Xinsheng Bearing Co., Ltd (1.3%), Zhejiang Yongxin Bearing Co., Ltd (1.2%）。

The main characteristics of the competitive landscape are the following:

（1) Uneven geographical distribution. China's automotive bearing industry is mainly concentrated in Zhejiang, Shanghai, Harbin and other regions. These regions have a strong automotive industry foundation and supporting capabilities, as well as a relatively complete industrial chain and supply chain. Among them, Zhejiang Province is China's largest automotive bearing production base, with many large-scale, strong technology, brand more well-known automotive bearing enterprises. However, there are relatively few automotive bearing enterprises in other regions, with small scale and low technical level and market influence.

（2) The product structure is unreasonable. China's automotive bearing industry is still dominated by low-end products, high-end products accounted for relatively low. According to the Champ Consulting Group,2023In China's automotive bearing industry,P0The proportion of products below grade is46.7%，P0The proportion of grade products is32.4%，P6The proportion of products above grade is20.9%. In the international market,P6The proportion of products above grade has reached50%Above. This shows that there are still some gaps and disadvantages in the technical level and brand image of China's automotive bearing industry.

（3) Diversification of competitive methods. With the diversification of the automotive market and the increase in personalized demand, automotive bearing companies must not only compete in terms of price, quality, and service, but also in terms of technological innovation, product development, market expansion, and brand building. By strengthening R & D investment, vehicle bearing enterprises develop new products that are more in line with market demand and environmental protection standards, and improve the added value and differentiation of products; by strengthening cooperation with automobile manufacturers, establishing stable supply relations, improve the market share and customer loyalty of products; by strengthening brand publicity and promotion, improve the popularity and reputation of products, and enhance the competitiveness and influence of products.

5. development prospects

Shangpu Consulting believes that the automotive bearing industry, as an important support for the automotive industry, its development prospects will be affected and driven by the automotive market. With the steady growth of China's economy and the improvement of residents' income level, the demand for automobile consumption will remain strong. At the same time, with the national policy support and encouragement for new technologies and new models such as new energy vehicles and intelligent connected vehicles, the automobile market will show a diversified and innovative development trend. These factors will bring new opportunities and challenges to the automotive bearing industry.

On the one hand, the automotive bearing industry will face new opportunities. With the increase of automobile production and sales, the demand for automotive bearings will also increase accordingly. At the same time, with the popularization of new technologies and new models such as new energy vehicles and intelligent networked vehicles, the performance and quality requirements for automotive bearings will also increase. These will promote the development of the automotive bearing industry in the direction of high-end, intelligent and environmental protection, and promote the upgrading and structural optimization of the industry.

On the other hand, the automotive bearing industry will also face new challenges. With the intensification of market competition at home and abroad, higher requirements have been put forward for the technical level, brand image and cost control of automotive bearing enterprises. At the same time, with the continuous improvement of national requirements for environmental protection and energy conservation and emission reduction, stricter standards have been put forward for the production process and product quality of vehicle bearing enterprises. These will bring greater pressure and test to the vehicle bearing enterprises.

To sum up, Champ Consulting believes that,2023China's automotive bearing industry will maintain a steady growth trend, but it also needs to strengthen technological innovation and brand building, improve product quality and added value, meet the diversified needs of the automotive market, and enhance the industry's core competitiveness and sustainable development capabilities.