Laigang has maintained the top market share in the country for five consecutive years, solidifying its position as a leading player in the steel gear industry. Recently, at the 15th academic annual meeting of the Automobile Manufacturing Subsection of the China Association of Automobile Engineers held in Qingdao, it was revealed that Laigang has developed and produced six types of steel gear materials, becoming the first domestic manufacturer to achieve full-scale production of all steel grades for gears. Major automotive companies such as First Automotive Group, Dongfeng Motor Group, China National Heavy Duty Truck Group, and Ford Motor Co. have all adopted gears made from Laiwu Gear Steel.
Industry experts predict that China's total automobile 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 maintain an average annual growth rate of around 12%. The market size of the gear industry is projected to reach 120 billion yuan, gradually positioning China as a major global gear production and export hub. The potential of the gear industry in China remains vast and promising.
As the largest special steel production base in Shandong Province, Laigang has taken advantage of opportunities presented by China's rise as a global manufacturing center, the Shandong Peninsula City Group, and the Ring Huanghai Sea Economic Circle. Over the past five years, the company has invested 300 million yuan in technological upgrades and structural adjustments, forming two key competitive advantages in gear steel and bearing steel. This investment enabled Laigang's gear steel output to rapidly reach 400,000 tons, establishing it as the leading fine steel gear production base in the province. It has also earned recognition through the Shandong Provincial Brand Product title and the National Metallurgical Product Quality Golden Cup Award.
Laiwu Steel has built extensive strategic partnerships and actively participates in China’s automobile manufacturing supply chain. It has established cooperation with three major domestic auto group gear manufacturers and the country's largest Shaanxi Fast Gear Factory. As a result, Laiwu Gear Steel has consistently ranked first in market share for five consecutive years, becoming a key supplier of automotive steel in China.
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