Farming Machinery Manufacturing in China - Industry Report.pdf
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1、CONTENTS Error! No text of specified style in document. May 2011 | 1-800-330-3772 | IBISWorld Industry Report 3672 Farming Machinery Manufacturing in China May 2011 About This Industry . 2 Industry Definition 2 Main Activities . 2 Similar Industries . 2 Additional Resources . 3 Industry Performanc
2、e 4 Executive Summary . 4 Key External Drivers 4 Current Performance . 5 Industry Outlook 7 Industry Life Cycle . 9 Products water wheels; and windmills Lawn mowers for parks or sports grounds Manipulating machinery: Threshers, winnow machines, corn stripping machines and cutting machines Non-soil c
3、ultivating machinery: Mushroom production, seedling preparation and seed cultivation machinery Plant-protection machinery: Weeding, cultivating, and fertilizing machinery, row crop thinners, roll crop planters The major products and services in this industry are: Agricultural operational machinery O
4、ther Harvesters Manipulating machinery Similar Industries 3421 - Cutting Tools Manufacturing in China These companies manufacture non-mechanical tools, such as shovels, pickaxes, hoes, reaphooks, harrows and scissors. 3613 - Construction Equipment Manufacturing in China Establishments in this indust
5、ry manufacture machinery for construction, including wheeled loading shovels. 3671 - Tractor Manufacturing in China Firms in this industry manufacture tractors, including tractors for agriculture or forests, and with a variety of functions. 3673 - Forestry Mechanical Equipment Manufacturing in China
6、 Companies in this industry manufacture cutting machinery such as wood-planting machines, wood- protection machines, gardening machines, wood transporters and wood-gathering machines. 3674 - Husbandry Mechanical Equipment Manufacturing in China WWW.IBISWORLD.COM.CN Farming Machinery Manufacturing in
7、 China May 2011 3 These establishments manufacture machinery for use in pastures, cattle farming and other domestic animal farming. Additional Resources For additional information on this industry: National Bureau of Statistics Ministry of Agriulture China General Administration of Customs of the
8、 Peoples Republic of China WWW.IBISWORLD.COM.CN Farming Machinery Manufacturing in China May 2011 4 Industry Performance Executive Summary In 2011, the Mechanical Farming and Equipment Machinery industry in China maintained relatively rapid growth of about 11.2% to $10.0 billion (constant 2011 dolla
9、rs). Sales revenue of the industry increased at an annualized rate of 23.3% from 2006 to 2011. This rapid growth was stimulated by increasing export volumes, strong domestic demand and consistent government subsidies. In 2011, as the world continues to recover gradually from the financial crisis, ex
10、port revenue is expected to increase to an estimated $2.22 billion, up 12.5% from 2010. Export value was a strong stimulating factor for the robust increase in industry revenue in 2007 and 2008. Although the value of exports decreased as foreign demand declined in 2009, due to the weak global econom
11、ic environment, exports rebounded to $1.97 billion in 2010, up 20.5%. State policies had a significant effect on this industry, especially on imports. Government support for purchasing mechanical farming machinery has been increased, and it led to growth in domestic demand. Value-added tax reforms a
12、lso facilitated the industrys technology level and production expansion. The overall output increased to $1.01 billion in 2011, 25.9% growth compared with 2010, benefiting from increased enterprises and advances in technology. However, the industrys profit margin is expected to remain low because of
13、 rapid growth in wages. In 2011, total wages were forecast to hit $552.6 million, up 17% from 2010, and they are expected to continue growing. In the five years through 2016, industry revenue is expected to maintain steady growth to about $15.2 billion. Key External Drivers The key sensitivities aff
14、ecting the performance of the Farming Machinery Manufacturing industry include: Import Competition - Agricultural Machinery mfg Import competition affects the industry somewhat. Imports accounted for about 10% of domestic demand in recent years, which is an important revenue source for some domestic
15、 manufacturers. Industry Growth - Agriculture Growth of the agricultural sector boosts demand for mechanical and farming machinery and equipment. Level of Foreign Investment Four of the top 10 enterprises of the industry are invested by foreign funds in the form of solely funded firms and joint vent
16、ures. Higher levels of foreign investment contributed to technology changes and faster growth in industry output and revenue. Policies/Legislation Governmental policies have significant impacts on the industrys development. Subsidies and tax reductions for farmers have increased their purchasing pow
17、er and stimulated demand for agricultural machinery and equipment. Systems and Technology - by Industry The level of systems and technology of the enterprises is an important determinant for industry growth. Improvements in the technology level resulted in higher industry efficiency and productivity
18、 in the past few years. Advanced technology and company systems can also reduce the labor costs of the industry. WWW.IBISWORLD.COM.CN Farming Machinery Manufacturing in China May 2011 5 Current Performance Chinas agricultural development is still in its early stage of modernization. Only about 20% o
19、f rice harvesting is mechanized at present. The mechanization rate of other agriculture products, such as grain, corn and other crops, is also relatively low compared with many developed countries. There is great potential for the development of Chinas agricultural sector and the mechanical farming
20、machinery and equipment manufacturing industry. Government policies to improve Chinas agricultural mechanization level were initiated in 2004, giving rise to growth in the sales revenue of the Mechanical Farming Machinery and Equipment Manufacturing industry in China. In recent years, the government
21、 has put in place various policies to encourage this process, including cutting tax rates for farmers and widening the availability of subsidies for most types of farm machinery. In 2010, the financial subsidy for agricultural machinery purchasing was $2.3 billion, 20.3% growth from 2009. This had a
22、 positive effect on the harvester market segment and gave rise to an average growth rate in the use of harvesters of around 15.4% from 2002 to 2009. Tax reforms, government subsidies, steady increases in farmers incomes and rising agricultural product prices have all given rise to small but signific
23、ant growth in rural purchasing power. Growing numbers of farmers now seek to improve the efficiency of their operations. The industry has high revenue volatility, and it is sensitive to changes in the following: applicable government policies; domestic demand and export markets; currency exchange ra
24、tes; raw material prices; and final product development. Suppliers in this industry have experienced several years of very fast revenue growth, but with significant profit declines in the current performance period. Many small companies were unable to adjust to the dynamic market changes and were fo
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