Industry News

China's Gear Industry Strides into High-speed Development Period

Posted: 05/21/2014 05:05:52   Edited: 05/21/2014 05:05:47  Clicks: 1497
After 20 years of unremitting efforts, China has taken an exclusive part in gear production. Obviously, China has become a large gear exporter in the world both in quantity and quality of gear products. By the end of 2013, the annual sales revenue of gear industry reaches about 160 billion RMB. More than 1000 production enterprises and 300,000 employees consist of China gear industry - the largest division of basic parts industry. 
Today, with the constant development of electronic commerce, traditional enterprise marketing model no longer meet customers’ demand. Neither does the gear industry. Taking advantage of electronic commerce, gear industry will stride into high-speed development period in 2014.
As is known to all, gear industry is the largest division of China's mechanical generic components industry. Sales of gears reach nearly 160 billion RMB in 2013, accounting for 58.2% of total sales of machinery general parts industry. According to the data obtained, gear industry growth rate is estimated to be 13-15% from 2014 to 2015, reaching 300 billion RMB in 2015.
During the "Twelfth-Five-Year" period, gear and transmission device industry are listed as develop priority. This is also a critical period of becoming a powerful country of gear manufacturing for China. Gear industry development will enter into a significant transition period, mainly relying on independent innovation to broaden a new era of marketing channel.

Miss Lavendie Lee 
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