In 2011, the growth rate of domestic bearing industry revenue will decline

Compared with the 30% increase in revenue in 2010, the China Bearing Industry Association expects a substantial reduction in the 2011 revenue growth in the bearing industry. The association believes that although the bearing industry will continue to develop steadily in 2011, operating income growth will fall to 12%.

It is worth noting that the development of the bearing industry faces some unfavorable factors.

The fluctuations in the markets of automobiles, agricultural machinery, and home appliances will have a certain impact on the speed of development of the bearing industry. It is expected that raw material prices and labor costs will show an upward trend in 2011, thus putting some pressure on the company's costs.

The RMB exchange rate will generally show an upward trend, and the competitiveness of ordinary bearings and mid-range bearing products will be further weakened, bearing product export pressure will gradually increase, and bearing product imports will increase.

Affected by the rapid and steady development of China's economy, international multinational bearing companies have accelerated the pace of building factories in China, and the market competition in high-end and high-end bearings will be fiercer.

In addition, we attach great importance to the development of the market and timely adjust the product structure in accordance with market development. We attach great importance to scientific research. We must not only develop new products based on the market in real time, but also research and reserve some new products in the future according to market development while studying the technological upgrading of old products. The company attaches great importance to the improvement of management levels, reduces costs through management, and enhances the competitiveness of enterprises.

The association hopes that companies in the industry will attach great importance to the "Twelfth Five-Year" development plan of the country, each host industry and the bearing industry, study the development direction of key products from the strategic emerging industries of the country, analyze the development information of the bearing industry, and combine the situation of the enterprise itself. Analyze the development of the situation and make business development planning decisions as soon as possible.

According to Wang Quanqing, Secretary General of the China Bearing Industry Association, the pressure in the bearing industry will further increase in 2011, and the growth rate of the bearing industry will slow down. It is worth bearing the attention of bearing companies.