Fastest Declining Industries in China by Revenue Growth (%) in 2023

1. Camera Stores in China

2023-2024 Revenue Growth: -7.8%

Revenue for the Camera Stores industry has been declining in the past few years. A large number of camera stores have gradually withdrawn from the market in China. Despite rising demand for digital single lens reflex (DSLR) cameras, industry revenue is anticipated to decline by 7.8% in 2023. Advances in smartphone camera technology has meant that consumers have increasingly replaced low-end pocket cameras with the cameras in their smartphones. Smartphone cameras can be used in most circumstances for basic photos, and smartphone manufacturers have continuously improved their integrated camera offerings. Industry revenue is expected to decline at an annualized 9.9%... Learn More

2. Wired Telecommunications in China

2023-2024 Revenue Growth: -5.0%

The Wired Telecommunications industry is part of the telecommunication services sector. In terms of revenue, the industry is the second largest in the sector, after the Mobile Telecommunications industry (IBISWorld report 6012). However, the industry's share of telecommunications sector revenue has been declining since the early 2000s. Mobile telecommunications have rapidly developed over the past decade with both third-generation (3G) and fourth-generation (4G) mobile technology, allowing more consumers to substitute fixed-line telecommunication services with mobile ones. Additionally, fifth-generation (5G) mobile technology started commercial application in 2019. As of December 2020, China had announced more than 250 million fifth-generation (5G) users.... Learn More

3. Motorcycle Manufacturing in China

2023-2024 Revenue Growth: -4.5%

The development of the Motorcycle Manufacturing industry in China has been affected by more restrictive policy and the popularity of automobiles in recent years. Revenue for the Motorcycle Manufacturing in China is expected to increase at an annualized 0.2% to $25.3 billion over the five years through 2023, including a drop of 8.3% in 2023 alone, when profit is anticipated to be 4.9%.

The Government in China has continuously issued industry policies to encourage the use of green vehicles such as new energy vehicles to travel. With the gradual penetration of energy conservation and emission reduction awareness in daily life, increasingly... Learn More

4. Communication Equipment Manufacturing in China

2023-2024 Revenue Growth: -4.5%

Over the past decade, the Mobile Telecommunications industry (IBISWorld industry report 6012) has been taking market share from the Wired Telecommunications industry (6011) due to mobile services' convenience and falling prices. This increasing substitution has negatively affected demand for wired terminal equipment, a major product segment in the Communication Equipment Manufacturing industry. Industry revenue is expected to decrease at an annualized 3.6% over the five years through 2022. In 2022, industry revenue is expected to decline by 2.1% to $9.7 billion. This decline has been driven by the COVID-19 pandemic, an economic downturn in China and the falling number of... Learn More

5. Coal Product Manufacturing in China

2023-2024 Revenue Growth: -4.2%

The Coal Product Manufacturing in China has exhibited declined growth over the past five years, mainly affected by the accelerated process of global ‘de-coal' and clean energy substitution. In addition, with the realization of central heating in cities of China in winter and the popularity of gas and natural gas in cities, fewer and fewer consumers use coal products as fuel for heating and cooking. The demand for coal products declined in recent years. Industry revenue is expected to decrease at an annualized rate of 5.7% over the five years through 2023, to an estimated $2.8 billion. This trend includes... Learn More

6. Ship Building in China

2023-2024 Revenue Growth: -3.0%

Over the five years through 2022, the Ship Building industry in China has been declining at an annualized rate of 6.4% to $42.6 billion. This industry's activities are highly concentrated in Jiangsu, Zhejiang, Shandong and Shanghai. Foreign-owned enterprises generate 29.5% of industry revenue. The largest two shipbuilding groups, CSSC and CSIC, produce over 60.0% of domestic metal ships.

In 2016, due to the insufficient market demands and excess production capacity, industry revenue declined 11.7% to $77.4 billion. In 2017, industry revenue continued to decline 23.4% to $59.3 billion. With weak demand and decreasing product prices, industry revenue decreased 31.5% to $40.6... Learn More

7. Newspaper Publishing in China

2023-2024 Revenue Growth: -2.7%

Revenue for the Newspaper Publishing industry is expected to fall at an annualized 3.9% over the five years through 2023, to $8.8 billion. This includes an expected revenue decline of 2.8% in 2023. Rising internet use has reduced demand for newspapers, particularly in China's large cities. Additionally, rising newsprint paper costs have reduced industry profit margins.

The industry has low market share concentration compared with developed countries, although the number of establishments has increased over the past five years. Certain newspaper publishers dominate specific regions in China. For example, Beijing Daily Group accounts for about 60% of total newspaper circulation in... Learn More

8. TV, DVD & Video Equipment Manufacturing in China

2023-2024 Revenue Growth: -1.4%

Industry revenue generated by the TV, DVD and Video Equipment Manufacturing industry in China is estimated to decline at an annualized 2.0% over the five years through 2022, to total $116.9 billion. This trend includes estimated decline of 4.0% in the current year. The industry turned into stock market period, so the competition is serious and lack growth engine.

Exports are important for the industry, and is expected to account for 16.2% of industry revenue in 2022. Fluctuation of export revenue over the past five years was mainly due to the industry's changing export product structure and the global recession, which... Learn More

9. Coal Mining in China

2023-2024 Revenue Growth: -1.1%

Revenue for the Coal Mining Industry in China is expected to grow at an annualized 11.1% over the five years through 2022, including a 19.0% rise to $712.1 billion in 2022. Revenue declined in 2020, and was largely due to demand moving away from coal in favor of cleaner energy sources, decreasing coal prices, competition from lower priced imported coal, and the COVID-19 pandemic. Coal shortage in 2021 caused sharp increase of coal prices, therefore, industry revenue increased to $598.3 billion, up by 40.3% from 2020.

Raw coal output in China is expected to increase from 3.5 billion tons in 2017... Learn More

10. Camera Equipment Manufacturing in China

2023-2024 Revenue Growth: -0.2%

Revenue for the Camera Equipment Manufacturing industry in China is expected to decrease at an annualized 0.9% over the five years through 2022, to $9.5 billion. This includes an anticipated decline of 0.4% in the current year. The four largest industry players, Foshan Pulihua, Canon, Sony and Fujifilm, are expected to account for 70.7% of industry revenue in 2022.

China has become the world's largest production base for camera equipment. In addition, digital cameras have replaced traditional film cameras as the industry's main product, with digital single-lens reflex (DSLR) cameras and mirrorless cameras becoming increasingly popular with consumers. Digital cameras are... Learn More