BEIJING – China’s gear industry reported sales of more than ¥160 billion ($24 billion) in 2010, representing an average annual growth rate of over 25 percent, autoweekly.com reports, citing data released by the China Gear Manufacturers Association (CGMA).
Shaanxi Fast Auto Drive Group Co., Ltd., the largest truck gear manufacturer in China, recorded sales revenue of ¥12.6 billion ($1.9 billion) last year, up 67.3 percent from a year ago. Nanjing High Accurate Drive Equipment Manufacturing Group Co., Ltd., a major producer of high-speed heavy-duty gearbox in the country, saw its sales grow 46.3 percent from 2009 to ¥12 billion ($1.8 billion).
The Ministry of Industry and Information Technology (MIIT) has designated gears and gear transmission systems as one of the six basic components for major development and listed 13 gear products for priority development in the “Revitalization Plan of Basic Parts and Components of the Machinery Industry” issued on October 11, 2010.
After years of efforts, the Chinese gear industry has achieved technological breakthroughs, according to CGMA. For example, several automatic transmission makers such as Hunan Jianglu Rongda Vehicle Transmission Co., Ltd., Nanjing Aafu Automobile Control System Co., Ltd., Shengrui Transmission Machinery Incorporated Company, etc. have made progress in CVT, AMT and AT technologies. The first two have already begun supplying OEMs.