German exporters are facing increasing pressure in their home market from Chinese exports to the European Union, according to a study by the Cologne Institute for Economic Research.
Chinese exports to the region include increasingly complex industrial goods -- such as machinery, pharmaceuticals and automotive products -- that have long been seen as the preserve of German manufacturers. The share of such products in all EU imports from China rose from 50.7 percent in 2000 to 68.2 percent in 2019, according to the study, reported by The German newspaper Welt am Sonntag.
The figures are a warning to German politicians and businesses, who are already facing growing questions about the country future economic success. The fabled German car industry is wrestling with the end of the internal combustion engine and competition from the likes of Tesla, its technology sector is lagging behind European rivals and manufacturers are agonizing over the cost of the energy transition.
"With China, Germany sees strong export competition not only globally, but also in its home market in Europe," Welt am Sonntag quoted IW economist Juergen Matthes as saying.
At the same time, some analysts say China is increasingly looking to Germany economic model as a guide to its future success. Beijing "Made in China 2025" plan, inspired by Germany Industry 4.0 blueprint, focuses on increasing manufacturing in the technology sector. China recent regulatory crackdown has also led some to draw parallels with Europe largest economy.
Still, others say China success in emulating the German economic model could be hampered by its uncertain policy environment.
Achim Wambach, president of Germany ZEW Institute, told Bloomberg last week: "To build structures, you need to make sure that economic policies are predictable and clear so that companies can invest." "What we are seeing in China right now is the opposite -- there a lot of uncertainty, speculation and sudden changes in policy. This is the opposite of what Germany has always thought about economic policy."
Bearings are an important part of modern machinery and equipment, and its downstream is widely used in industrial automation, high-end equipment, robotics, automobile manufacturing and other fields. In recent years, due to the decline in demand from downstream industries such as automobiles and machine tools, as well as the adjustment of industrial structure, the phase of transformation and upgrading, the phasing out of backward production capacity has changed the relationship between supply and demand. The number of bearing industries has declined. If you are looking for 608rs specs or get more information about 608rs specs, please send an email to email@example.com
Due to changes in consumer demand, import and export conditions, and various investigations on the development of 608rs specs, the cost of 608rs specs is constantly changing. Taking into account the current market macroeconomic parameters, value chain analysis, channel partners, demand and supply, the cost of 608rs specs will also be affected to a certain extent. It is estimated that the cost of 608rs specs will increase slightly from next month.
The price of 608rs specs continues to be affected by factors such as market decline momentum, various opportunities and challenges. However, during the forecast period from 2022 to 2025, the global 608rs specs sales market is expected to continue to be above average. The growth rate will continue to increase. It is expected that In the second half of this year, the price of 608rs specs will increase to a certain extent.
The cost of raw materials is still the biggest concern for manufacturers. Raw materials account for approximately 60-62% of bearing manufacturers revenue. The price of raw materials for bearings fluctuates continuously according to market economic conditions. Such fluctuations in raw material prices are becoming a real challenge for companies to maintain competitiveness and ensure sustainable profits. As high-grade steel and alloy steel are the main raw materials used to manufacture 608rs specs, bearing prices are highly correlated with global steel price trends. Therefore, fluctuations in the price of raw materials have brought challenges for bearing manufacturers to compare prices and quality to manufacture bearings. In addition, the bearings require regular maintenance to avoid failures and extend their service life, which further increases maintenance costs. Therefore, factors such as raw material price fluctuations and regular maintenance costs are expected to hinder the growth of the bearing market.
The market demand of 608rs specs?
The global bearing market value in 2020 is 123.34 billion U.S. dollars and is expected to reach 153.62 billion U.S. dollars by 2027, and the compound annual growth rate will also increase steadily.
A bearing is a mechanical element that supports relative movement and helps reduce friction caused between moving parts. Bearings are widely used in various industries such as automobiles, wind turbines, construction machinery, mining machinery, agricultural equipment, and machine tools. It is used in automobiles to ensure smooth driving of automobiles, electric vehicles (EV) and other types of vehicles (such as light commercial vehicles and heavy vehicles such as trucks). Due to the increasing utilization of bearing 608rs specs in various end-use industries, rolling mills and electric vehicles, the global 608rs specs market has become more and more important. The development of technology has improved the overall efficiency of bearing products in the field and extended the product shelf life.
About Eric Bearing Limited
Since the establishment of ERIC BEARING LIMITED in 2011, Eric Bearing Co., Ltd. has established partnerships with some distributors who have authorized world-renowned manufacturers, such as Swedish SKF bearings, German FAG bearings and INA bearings, and so on. Compared with other competitors, our price is very competitive, 30% lower than the customer local market. We have set up multiple branch warehouses in Hong Kong Free Port, Shanghai Port and Guangzhou Port. We have more than 8 years of export experience can help you find the ideal purchasing solution. Various brands of bearings have abundant stocks, if you are interested, please feel free to contact us.
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