Engine Manufacturing in China - Industry Report.pdf
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1、CONTENTS Error! No text of specified style in document. October 2011 | 1-800-330-3772 | IBISWorld Industry Report 3512 Engine Manufacturing in China October 2011 About This Industry . 2 Industry Definition 2 Main Activities . 2 Similar Industries . 2 Additional Resources . 3 Industry Performance 4
2、 Executive Summary . 4 Key External Drivers 4 Current Performance . 5 Industry Outlook 7 Industry Life Cycle . 9 Products and Yunnei Power Dazhou Automobile Co. Ltd, producing automobiles. In 2010, company assets totaled $671 million, with annual production capacity of 500,000 diesel engines and 30,
3、000 trucks. The main products of the company are compatible with most domestic automobiles and agricultural vehicles. The company has more than 30 sales centers and over 800 after-sales offices. By 2015, the company aims to achieve sales volume of 1 million units and revenue of $2.31 billion. Financ
4、ial Performance of China National Heavy Duty Truck Group Hangzhou Engine Co., Ltd. - 2006 to 2010* Year Assets US Million Dollars Growth % change Revenue US Million Dollars Growth % change NPBT US Million Dollars Growth % change 2006 113.3 N/C 223.7 N/C 24.9 N/C 2007 206.1 81.9 305.7 36.7 37.8 51.8
5、2008 387.1 87.8 297.3 -2.7 61.2 61.9 2009 224.5 -42.0 313.4 5.4 73.2 19.6 2010* 267.8 19.3 366.5 16.9 84.7 15.7 SOURCE: NATIONAL BUREAU OF STATISTICS CHINA Financial Performance of Cummins (China) Investment Company Limited. - 2005 to 2010* Year Assets US Million Dollars Growth % change Revenue US M
6、illion Dollars Growth % change NPBT US Million Dollars Growth % change 2005 113.3 N/C 159.1 N/C 31.1 N/C 2006 112.8 -0.4 176.6 11.0 37.7 21.2 2007 138.8 23.0 210.4 19.1 52.7 39.8 2008 278.4 100.6 254.5 21.0 14.2 -73.1 2009 303.1 8.9 240.2 -5.6 41.0 188.7 2010* 347.6 14.7 287.5 19.7 46.8 14.1 SOURCE:
7、 NATIONAL BUREAU OF STATISTICS CHINA WWW.IBISWORLD.COM.CN Engine Manufacturing in China October 2011 33 Financial Performance of Jiangsu Jianghuai Engine Co., Ltd. - 2005 to 2010 Year Assets US Million Dollars Growth % change Revenue US Million Dollars Growth % change NPBT US Million Dollars Growth
8、% change 2005 247.1 N/C 199.7 N/C 4.7 N/C 2006 279.7 13.2 211.2 5.8 4.6 -2.1 2007 329.4 17.8 250.6 18.7 12.5 171.7 2008 413.3 25.5 293.0 16.9 13.3 6.4 2009 414.1 0.2 280.4 -4.3 26.4 98.5 2010 405.2 -2.1 341.2 21.7 23.1 -12.5 SOURCE: ANNUAL REPORT Financial Performance of Anhui Quanchai Engine Co., L
9、td. - 2005 to 2010 Year Assets US Million Dollars Growth % change Revenue US Million Dollars Growth % change NPBT US Million Dollars Growth % change 2005 162.4 N/C 125.4 N/C 3.3 N/C 2006 174.6 7.5 141.3 12.7 3.9 18.2 2007 187.0 7.1 149.0 5.4 5.7 46.2 2008 208.3 11.4 183.3 23.0 1.7 -70.2 2009 271.0 3
10、0.1 309.8 69.0 11.6 582.4 2010 300.4 10.8 392.2 26.6 15.4 32.8 SOURCE: ANNUAL REPORT WWW.IBISWORLD.COM.CN Engine Manufacturing in China October 2011 34 Operating Conditions Capital Intensity The level of capital intensity is high. This industry has high capital requirements for manufacturing equipme
11、nt and facilities R&D expenses have increased in recent years Employee number have decreased due to higher capital investment Using wages, management, administration and R&D as an indicator for labor, and depreciation as an indicator for capital, the labor to capital ratio for this industry is expec
12、ted to be 2.8:1 in 2011, which indicates the industry has a high capital intensity level. Production in this industry relies heavily on large-scale investment for manufacturing equipment, particularly with larger firms. Larger firms tend to be more technologically-advanced and capital-intensive than
13、 smaller ones. The main capital start-up costs required are for manufacturing equipment, land, and plant. Research and development is becoming increasingly important for the industrys development. The proportion of R&D to industry revenue has been increasing in recent years, up from less than 3% in
14、2002 to approximately 4.1% in 2011, which also contributes to the capital-intensive level of this industry. With technical improvements, employee numbers have declined at an annualized rate of 2.0% in the five years to 2011. With higher forecast capital investment levels in future years, the ratio o
15、f capital to labor is expected to increase as domestic manufacturers increase their R&D activities and invest more in manufacturing technology and equipment. Technology & Systems The level of technology change is medium. This industry has experienced technological improvements after many years of de
16、velopment. From the 1980s, advanced internal combustion engine products, equipment, and technology from the developed world entered the Chinese market, which contributed to the technological improvements of domestic manufacturers. During the past 10 years, the number of patents and trademarks for Ch
17、inas licensed technology on internal combustion engines has increased almost 10-fold. Some large companies within this industry have gradually improved their product quality to a level almost on par with international standards. For example, Weichai Power operates a modern research and development c
18、enter and several product laboratories. Weichai Power has entered into a research and development agreement with renowned diesel engine R&D organizations in Europe, thus ensuring the advanced technological standard of the group. China has independently developed its own fuel injected, electrical con
19、trol gasoline and diesel engines that meet the discharge standards of Europe. Some enterprises have established software and hardware platforms for the research and development of electrical fuel injection technology. Some Chinese companies have independently researched and developed multi-cylinder
20、diesel engines for agricultural machinery. Domestically-made diesel engines have been increasingly able to satisfy domestic demand. WWW.IBISWORLD.COM.CN Engine Manufacturing in China October 2011 35 Despite major improvements in recent years, there is still a disparity between domestic enterprises a
21、nd foreign firms in relation to product quality. Technology levels of domestic enterprises also vary with different company scales, and larger firms tend to be more technologically-advanced than smaller ones. Revenue Volatility The level of volatility is medium. This industry was subject to a modera
22、te volatility level in the five-year current performance period to 2010. In 2006 and 2007, strong development of the global and Chinese economies drove demand for internal combustion engines and fittings, with industry revenue increasing significantly during these two years. From 2008, due to the gl
23、obal financial crisis, demand from downstream industries declined significantly. After the lows of 2009, this industry began to resume its growth from 2010. The volatility level of this industry is also sensitive to government policies to some degree. In 2005, the government implemented a wide-sprea
24、d policy to prohibit the use of some high-polluting products from this industry, which limited the industrys revenue growth for the year. In 2009, the Chinese government issued multiple policies to stimulate economic growth, covering equipment manufacturing, marine manufacturing and infrastructure c
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