Bearing is the foundation of the automobile transmission parts, is a part of the automobile driving device. They are known as the "joints of the automobile industry" and are used to support tire RPM. It has important influence on vehicle performance. Reliability, once damaged, will affect the vehicle operation. From the perspective of safety, the installation position of some bearings is very important, such as hub bearings, which are used to support the weight of the vehicle. Once the fault occurs, it will affect the safety of the vehicle. In terms of comfort, bearings not only have a great impact on the smoothness of vehicle driving, but also those bearings with poor quality are easy to produce a lot of noise. With the development of China's economy, the market scale of automobile bearing industry is also constantly expanding. More and more enterprises join the automobile bearing industry, bringing the automobile bearing industry to a new height. The market scale of China's automotive bearing industry is expanding constantly, which benefits from its progress in technology. In recent years, the technical investment of China's automobile bearing industry has been increasing, and at the same time, enterprises have also been improving their own technical level and strengthening the research and development ability of automobile bearings, thus promoting the development of the industry. At the same time, China's automotive bearing industry has also launched a series of sound quality management systems, strict quality control, to ensure the reliability and durability of automotive bearings. From the perspective of the industry chain of automobile bearings, the upstream is mainly steel, modified plastics, aluminum, industrial ceramics, etc., the midstream is mainly Xiangyang Bearing, Guangyang Stock, etc., and the downstream application scenario is the automobile industry, including fuel vehicles and new energy vehicles.

Iron ore is the most upstream raw material smelting iron and steel, iron ore output can affect the national steel output to a certain extent. In recent years, our iron ore output is on the rise. China's raw ore output in 2021 was 980.53 million tons, up 13.1% year on year. China's raw ore production in 2022 is 967.87 million tons, slightly lower than the previous year.

Steel is one of the most important raw materials for the manufacture of automobile bearings. From the perspective of China's steel output in 2018-2022, the overall trend of maintaining a steady rise, from 1.133 billion tons in 2018 to 1.34 billion tons in 2022.

Aluminum is also one of the raw materials used to make automobile bearings. In recent years, the production of aluminum is on the rise. The country's aluminum production reached 52,524 million tons in 2019 and rose to 62,216 million tons in 2022.

Modified plastics are also important raw materials for automobile bearings. The output of the modified plastics in our country shows an increasing trend year by year. The output of modified plastics was 15.63 million tons in 2016, and is expected to reach 28.84 million tons in 2022.

In recent years, the market scale of China's industrial ceramics industry shows a trend of fluctuation rising. The market size was 76.7 billion yuan in 2017, and rose to 92.2 billion yuan in 2022.

In recent years, the output of our bearing industry shows a rising trend. In 2016, the output was 19 billion sets, and in the last two years, the output increased year by year. In 2018, the output of bearings was 21.5 billion sets, and then in 2019, the output decreased to 19.6 billion sets. Then the output rises year by year. It is expected that the output of bearings will reach 25.9 billion sets in 2022.

The sales situation of automobile industry can affect the sales of automobile bearings to a certain extent. In recent years, China's automobile sales showed a trend of fluctuation and decline from 2018 to 2022. In 2020, affected by the epidemic, automobile sales decreased to 19.79 million, and then rose. China sold 2.48 million cars in 2022.

With the continuous introduction of favorable policies for the new energy industry, the new energy automobile industry has developed rapidly. China's production and sales of new energy vehicles have steadily increased, with a sharp rise in 2022, reaching 7.058 million and 6.887 million, respectively.