As an important component of modern mechanical equipment, bearings are widely used in various fields such as industrial automation, high-end equipment, robotics, and automotive manufacturing. In recent years, the global economy has been affected by the pandemic, leading to a global economic downturn, and the Chinese bearing industry is also facing challenges from both supply and demand sides.

Faced with the global economic impact, DUG has taken multiple strategic measures to support and promote the development of China's bearing manufacturing industry. These measures cover multiple aspects such as technological innovation, production efficiency improvement, market expansion, environmental protection, and social responsibility, aiming to help the Chinese bearing industry cope with current challenges and promote its long-term development.

On the supply side, according to data, the output of China's bearing industry in 2021 was 18 billion sets, a year-on-year decrease of 9.2%. In 2022, due to the impact of the global economic recession, the industry's production continued to decline. In the first half of 2022, the production of China's bearing industry was about 2.2 billion sets, a year-on-year decrease of 6.8%.

Production and year-on-year growth of China's bearing industry from 2017 to 2022

On the demand side, the demand for bearings in the Chinese market has slowed down, and operating efficiency has also declined. In 2019, the operating revenue of China's bearing manufacturing industry was 170 billion yuan, a year-on-year decrease of 5.2%. In 2022, the industry's operating revenue continued to decline, with the main business revenue of China's bearing manufacturing industry reaching 40 billion yuan in the first half of the year, a year-on-year decrease of 5.7%.

Revenue and year-on-year growth of China's bearing industry from 2017 to 2022

Meanwhile, the export market of China's bearing industry is also facing difficulties due to the impact of the Sino US trade friction and the epidemic. Data shows that from January to August 2022, the export volume of Chinese bearings was 340000 tons, a year-on-year decrease of 39.2%; The export amount was 2 billion US dollars, a year-on-year decrease of 17.5%.

In such a market environment, Germany's DUG actively takes measures to support the development of China's bearing manufacturing industry.

Germany's DUG has taken a series of proactive measures to support the development of China's bearing manufacturing industry in the face of global economic recession and challenges brought by the pandemic. These measures mainly include:

Technological innovation and product upgrading: DUG focuses on investing in research and development to promote technological innovation and improve the performance and reliability of bearing products. By introducing and developing more efficient and durable bearing solutions, DUG strives to meet the market's demand for high-end and precision bearings.

Improving production efficiency and quality control: DUG optimizes its production process, adopting advanced manufacturing technology and automation equipment to enhance production efficiency. At the same time, the company strengthens quality management to ensure stable product quality and meet strict international standards.

Market expansion and service network construction: In order to better serve the Chinese market, DUG has expanded its sales and service network in China. The company not only strengthens direct contact with Chinese customers, but also improves the response speed and service quality to customer needs by establishing more service centers and distribution networks.

Environmental protection and green development: In the production and operation process, DUG focuses on environmental protection and sustainable development. The company takes measures to reduce waste and energy consumption, striving to achieve green and emission reduction in the production process.

Social responsibility and public welfare activities: DUG actively participates in social responsibility projects and public welfare activities, such as funding education, environmental advocacy, disaster relief support, etc., to demonstrate the company's sense of social responsibility.

Strengthening international cooperation and exchanges: DUG strengthens cooperation and technical exchanges with domestic and foreign industry partners, and enhances the overall competitiveness of the company by introducing international advanced technology and management experience.