The bearing industry has a development history of over 100 years worldwide. Before the 1960s, the bearing industry was mainly monopolized by European and American countries; With the vigorous development of industries such as automobiles, motorcycles, office automation equipment, home appliances, and machine tools in Japan, Japan has gradually replaced the monopoly position of European and American countries in the field of micro and small bearings since the 1960s. Since the 1990s, with the continuous advancement of production technology in China, Chinese bearing enterprises have begun to compete head-on with Japanese companies in the field of micro and small bearings, gradually occupying the middle and low-end markets as well as some high-end markets of micro and small bearings.  

In the early 1950s, the total production of bearings in the world was only 900 million sets. By the early 1960s, it had reached 1.8 billion sets, by the early 1970s it was 4 billion sets, by the early 1980s it had risen to 7 billion sets, and by the late 1990s it had exceeded 10 billion sets; In 1997, the total production of bearings in the world exceeded 10 billion sets, with a total sales revenue of approximately 30 billion US dollars. In 2010, the total output of the global bearing manufacturing industry was 56.6 billion sets. The Forward Industry Research Institute predicts that by 2015, the total global production of bearings will reach 155.7 billion sets.  

  According to the "2015-2020 China Bearing Manufacturing Industry Production and Sales Demand Forecast and Transformation and Upgrading Analysis Report" released by Forward Industry Research Institute, the global bearing industry market size continued to grow from 2005 to 2008. In 2009, due to the impact of the global financial crisis, the market size of the global bearing industry decreased by 1.25 billion to 56.8 billion US dollars. By 2013, the global bearing industry market size was 62 billion US dollars.  

From a specific country perspective, the US market is the largest, accounting for 23% of the global market; EU countries are second, accounting for 21%; Japan accounts for 19; Russia accounts for 6; India accounts for 4; China accounts for 10% and is the main market for the future bearing manufacturing industry;

Statistical data shows that more than 70% of the world bearing market share is shared by the top ten multinational bearing group companies, including Japan's NSK and five other companies, Sweden's SKF company, Germany's FAG and two other companies, and the United States' Timken and two other companies. At the same time, the high-end market of the world bearing industry is monopolized by the above-mentioned enterprises, while the middle and low-end markets are mainly concentrated in China.  

If divided by region, the global bearing market can be divided into five major markets: Asia and Oceania, Europe, North America, Latin America, and Africa, with respective shares of 40, 31, 25, 3, and 1.  

After the economic crisis, the global bearing market will experience a sharp increase in 2015. With the gradual increase of industrialization, the demand for OEM is expected to rise. Although the production of durable goods such as automobiles has been sluggish in developed countries in recent years, which has seriously affected the demand for bearings. However, in the coming years, the production of durable goods and automobiles in developed markets is likely to increase. Therefore, the growth of developed markets will serve as a further supplement to the strong growth of terminal sectors in growth markets, especially in the Chinese market. In 2011, China surpassed the traditional main market of the United States to become the world's largest automobile producing country, and has maintained a leading position in the past few years.