China - October 01, 2024

Chinese bearing manufacturers remain on the ball as demand surges

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In central China's Luoyang City, a major production hub for bearing components, local manufacturers say orders are rolling in, driven by a national effort to upgrade industrial equipment.

Earlier this year, China announced an ambitious action plan to upgrade industrial equipment to boost economic growth. The initiative has fueled a huge demand for industrial parts and components.

One company that produces bearings for robotic arms says they're inundated with orders.

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Lu Ruifang, Head, R&D department, Luoyang Hongyuan Bearing Technology Co., Ltd.:

"There's been a noticeable increase in demand for robot reducer bearings and thin-walled cross roller bearings. We've gained over 400 new customers, and orders have risen by roughly 20 percent in volume."

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Elsewhere in the city, a bearing manufacturer reports a surge in orders for bearings used in wind, solar, and hydropower equipment.

At its workshop, over 300 sets of bearings designed for new energy sectors are packed and ready to be shipped to locations across the country.

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Wang Gaofeng, Deputy general manager, Luoyang Bearing Science and Technology Co., Ltd.:

"Orders for bearings used in new energy equipment have surged by 50 percent compared to the same period last year. Our production has been scheduled until June of next year, and we've also added four new clients. Many of our products are designed for upgrading wind turbine systems, specifically for replacing and repairing key components."

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According to the National Development and Reform Commission, equipment upgrades could create a market that would be valued at more than 700 billion U.S. dollars annually.

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