In 2023, the import value of bearing housings without ball or roller bearings, and plain shaft bearings to China stood at approximately $2.65 billion. The forecast for 2024 is set to rise to $2.69 billion, with subsequent annual increments of around 1.7% towards 2028, reaching an estimated $2.87 billion. This indicates a steady growth trend with a compound annual growth rate (CAGR) of approximately 1.7% over the forecasted period. The import sector is expected to exhibit resilience, largely driven by China's industrial demand and infrastructure development.
Future trends to watch for include:
- The impact of global supply chain fluctuations and trade policies on import volumes.
- Technological advancements in manufacturing affecting domestic production capabilities.
- China's investment in renewable and advanced technologies may boost demand for specific bearing housings.
