News

  • 0
  • 0

Stimulus payments of millions of Americans could affect the price of cylindrical roller bearing

Jacksonville, Florida. - With next week, the number of stimulus programs may impact millions of bank accounts of Americans .

It is expected that the US House will vote on the 13 trillion US dollars on Wednesday. Although the House has no Republicans to support the bill, it is expected that the bill will continue.

On Monday, President Joe Biden said that when the bill is sent to his desk, he will sign the bill.

The rescue plan includes a $ 1,400 stimulus check, a couple who pays $ 75,000 or less than the annual income of $ 150,000 or less. This is the total income of your tax return, not your annual salary.

Children\'s tax credits will also be included for the first time: people between children aged 6-77 will receive $ 3,000, and those under the age of 6 will receive $ 3,600. However, this money will pay $ 300 monthly from July until the end of this year.

Example 1: A couple of income of no more than $ 96,000, there are two children aged 6 to 17.

This family will be eligible to obtain four economic stimulus checks, with a total payment of $ 5,600. In addition, this family will get $ 3,000 for each child, in this case, two. This means that by the end of this year, the total expenditure will reach $ 1,1600.

Affected by the number of stimulus programs may impact millions of bank accounts of Americans, the cylindrical roller bearing market is changing rapidly. These changes are indicators of market rising. 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. If you are looking for cylindrical roller bearing or get more information about cylindrical roller bearing, please send an email to sales@spark-bearing.com.

The price of cylindrical roller bearing continues to be affected by some kind of factors such as market rising momentum, various opportunities and challenges. However, during the forecast period from 2022 to 2027, the global cylindrical roller bearing 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 cylindrical roller bearing will increase to a certain extent.   

Due to changes in the raw material price of bearings rising, consumer demand, import and export conditions, and various investigations on the development of cylindrical roller bearing, the cost of cylindrical roller bearing is constantly changing. Taking into account the current market macroeconomic parameters, value chain analysis, channel partners, demand and supply, the cost of cylindrical roller bearing will also be affected to a certain extent. It is estimated that the cost of cylindrical roller bearing will increase slightly from next year.

The market trend of cylindrical roller bearing?

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 cylindrical roller bearing, 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 for cylindrical roller bearing?

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 cylindrical roller bearing in various end-use industries, rolling mills and electric vehicles, the global cylindrical roller bearing 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 WSBC bearing

Wuxi Spark Bearing Co., Ltd is a complete, one-stop cylindrical roller bearing supplier and manufacturer. All bearings products are qualified and have passed the ISO 9001 certification. We have more than 12 years of experience in bearings,  is a modern high-tech professional high-quality roller bearing manufacturer specializing in R&D, manufacturing, sales and service. In order to keep WSBC bearings in sync with the world, we have invested in many advanced CNC equipment and a complete set of precision testing equipment committed to building a high-quality workforce and introducing advanced manufacturing and management technologies. We have strict quality control and environmental protection.

If you are looking for cylindrical roller bearing or get more information about bearings, please send an email to sales@spark-bearing.com

Or visit the following website: https://www.spark-bearing.com/

 

 

Inquiry us

Our Latest News

Frankfurt announces 2022 results and market analysis of overseas freight forwarders

Fraport sees lower cargo volumes in 2022 as the ongoing war in Ukraine, restrictions in China and a slowing global economy continue to weigh on its performance. Cargo volu…

Introduction to the production and function of HCG and the application of p24 test

Human chorionic gonadotropin (hCG), produced primarily by differentiated syncytiotrophoblasts, is a key embryonic signal necessary for the maintenance of pregnancy. hCG can activate various signaling levels in multiple cell types through binding to l…

Application of sheep weight in Animal Husbandry

Weighing is very important in the livestock breeding process. The use of intelligent weighing can effectively pay attention to the daily weight gain, monthly weight gain and growth of cows, as well as the body loss of dairy cows. According to the wei…