Laigang has maintained the top market share in China for five consecutive years, showcasing its dominance in the steel gear industry. Recently, at the 15th annual academic meeting of the Gear Processing Committee under the China Association of Automobile Engineers held in Qingdao, it was revealed that Laigang has successfully developed and produced six types of steel gear steel products, becoming the first national manufacturer to achieve full-scale production of sub-steel materials. Major automobile manufacturers such as FAW Group, Dongfeng Motor, Sinotruk, and Ford all use gears made from Laiwu Gear Steel.
Experts predict that China's total auto sales will surpass 8 million units this year, making it the second-largest producer and consumer of automotive gears globally. During the "Eleventh Five-Year Plan" period, the Chinese gear industry is expected to grow at an average annual rate of around 12%. The market size is projected to reach 120 billion yuan, gradually positioning China as a major global gear production hub and export center. The long-term potential of the gear industry remains significant.
As the largest special steel production base in Shandong Province, Laiwu Steel has taken advantage of opportunities presented by China's role as a global manufacturing hub, the Shandong Peninsula Urban Agglomeration, and the Bohai Sea Economic Circle. Over the past five years, the company has invested 300 million yuan in technological upgrades and structural adjustments, forming two competitive advantages in gear steel and bearing steel. This effort enabled Laigang's gear steel output to quickly reach 400,000 tons, establishing it as the leading fine steel gear production base in the province. It has also earned recognition, including the Provincial Brand Product title and the National Metallurgical Product Quality Golden Cup Award.
Laiwu Steel has built extensive strategic partnerships and integrated itself into China's automotive manufacturing supply chain. It has established cooperation with three major domestic auto groups and the country's largest Shaanxi Fast Gear Factory. As a result, Laiwu Steel's gear steel production and sales have consistently ranked first nationwide for five years, solidifying its position as a key supplier of automobile steel in China.
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