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Asia-Pacific Bearing Market Accounts for 41% of Global Share; Liaocheng Industry Brain Drives Digital Transformation
2024-06-30

According to a report released by Precedence Research in January 2025, the global bearing market size reached USD 145.19 billion in 2024. The Asia-Pacific region, with sales of USD 54.35 billion, accounted for 41% of the global market share, among which China and Japan emerged as core growth engines. The regional growth is mainly driven by the expansion of automobile manufacturing—demand for passenger cars and two-wheelers in China and India alone accounts for more than one-third of the global total, directly boosting the supporting demand for bearings.


In terms of industrial digitalization, Liaocheng, China, one of the "top five national bearing industry clusters," launched the Shandong Provincial Bearing Industry Brain Platform in April 2024. As of now, the platform has served 356 enterprises and facilitated transactions worth RMB 119 million. It realizes the full-life-cycle management of bearings from raw materials to finished products through a full-chain quality traceability system. A typical case includes helping Guanxian Yuanfeng Industry and Trade Co., Ltd. solve equipment downtime issues and saving millions of yuan in equipment update costs through cloud-based transformation.


(Source: Precedence Research Report https://www.precedenceresearch.com; Dazhong Wang https://m.toutiao.com)


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