Based on the expert analysis and our database of 280+ China industries, IBISWorld presents a list of the Fastest Declining Industries in China by Revenue Growth (%) in 2021
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View a list of the Top 25 fastest declining industries2021-2022 Revenue Growth: -17.7%
Revenue for the Clothing Stores industry in China is expected to fall at an annualized 1.0% over the five years through 2020. Slower growth since 2012 has been mainly due to the weaker performance of the Chinese economy and a high level of inventory limiting product prices. However, this decline is primarily due to a revenue fall in 2020 due to economic weakness during the COVID-19 pandemic. Industry revenue is set to fall by 23.6% in the current year, to total $24.3 billion.
Overall, industry growth has been strong over the past decade due to the opening of the market in... Learn More
2021-2022 Revenue Growth: -17.3%
Revenue for the Cutlery and Kitchen Utensil Manufacturing industry in China is expected to fall at an annualized 2.7% over the five years through 2020, to total $23.5 billion. The COVID-19 outbreak in early 2020 had a significant negative impact on the industry's development, contributing to industry revenue plummeting by 27.8% in the current year. These factors have boosted spending on kitchen items, particularly utensils and tableware. However, the modernization of the kitchen, and a growing consumer preference for electric kitchen appliances, glass kitchen appliances or China kitchen appliances have limited industry revenue growth over the past five years.
Industry revenue... Learn More
2021-2022 Revenue Growth: -17.1%
Revenue for the Camera Stores industry is expected to fall at an annualized 7.7% over the five years through 2020, to $654.2 million. Despite rising demand for digital single lens reflex (DSLR) cameras, industry revenue is anticipated to decline by 21.7% in 2020. 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.
The industry is forecast to continue its decline over the next five years. Revenue is projected... Learn More
2021-2022 Revenue Growth: -16.8%
Over the five years through 2021, revenue for the Airports industry in China is expected to fall at an annualized 12.8%, primarily due to the negative effects of the COVID-19 pandemic. Previously, cultural exchange campaigns between China and other countries contributed to revenue growth. However, revenue growth is expected to slow in 2020, due to the continued global economic slowdown attributable to the COVID-19 pandemic, as well as fiercer competition from high-speed railways. In 2021, industry revenue is anticipated to fall by 18.2%, to $8.1 billion.
The Airports industry in China is sensitive to general economic conditions and passenger volumes. Some... Learn More
2021-2022 Revenue Growth: -14.6%
Strongly growing domestic demand for footwear from China's large population has supported the development of the Shoe Store industry in China over the past five years. In addition, rising income levels and the availability of a wider range of higher quality footwear products has boosted domestic sales for the industry. Industry revenue is expected to increase at an annualized 2.5% over the five years through 2020, to reach $44.6 billion.
Mainland China has been the largest global manufacturing base for footwear since the 1990s. Currently, China supplies over 65.0% of global footwear demand. Domestic manufacturers have gradually improved their manufacturing technologies... Learn More
2021-2022 Revenue Growth: -14.3%
The Plastic Parts Manufacturing industry has developed steadily in recent years due to increasing demand from major downstream industries, such as automobile manufacturing, computer manufacturing and household product manufacturing. However, with new firms entering the industry at a high rate over the past five years (1.7% per year), competition has intensified, leading to lower prices and profit margins.
In 2020, industry revenue is expected to fall by 20.8% from 2019, to total $35.2 billion. Over the past five years, revenue has been declining at an annualized rate of 1.1%, largely due to the COVID-19 pandemic in the current year. About 3,284... Learn More
2021-2022 Revenue Growth: -13.3%
Wine consumption in China has been steadily increasing, especially among white-collar workers and young people. As a result, various media outlets have been popularizing wine culture, and foreign enterprises have held promotional wine-tasting events. These trends have helped enrich consumer knowledge of wine, stimulating wine consumption. In addition, the government has been encouraging the public to consume alcoholic beverages with lower alcohol content, such as wine.
Revenue for the Wine Production industry in China is set to decrease by 20.8% in 2020, to $8.5 billion. Industry revenue is expected to fall at an annualized 0.1% over the five years through 2020,... Learn More
2021-2022 Revenue Growth: -11.5%
Revenue for the Air-Conditioner Manufacturing industry in China is expected to decline at an annualized 1.3% over the five years through 2020 from a high base year, to total $80.0 billion. This trend includes an expected decrease of 14.3% in the current year. Approximately 191 enterprises are expected to operate in the industry over the period, employing an estimated 295,857 people with a payroll of $5.1 billion.
Investment from both domestic and foreign enterprises operating in the industry has increased significantly over the past five years, especially in the room air-conditioner (RAC) manufacturing segment. The major manufacturers in the world including... Learn More
2021-2022 Revenue Growth: -11.3%
The Mining Equipment Manufacturing industry in China mainly provides mine excavation equipment, underground transportation equipment and mineral washing and screening equipment to coal mines, nonferrous metal mines, ferrous metal mines, non-metallic mines and other mines.
As China's economy heavily relies on the manufacturing and the energy sectors, demand for natural resources drives the need for mining equipment. The industry has rapidly expanded over the past five years due to high domestic demand from China's Coal Mining (IBISWorld industry report 0610) and metal mining industries (0810, 0911, and 0916). Although China imports large volumes of coal, iron ore, bauxite and other resources,... Learn More
2021-2022 Revenue Growth: -10.4%
Revenue for the Cutting Tool Manufacturing industry in China is expected to fall at an annualized 1.3% over the five years through 2020, to total $12.8 billion. This includes an anticipated decline by 15.3% in the current year. Domestic demand is expected to total $12.4 billion in 2020, down 14.9% from 2019. Approximately 957 cutting tool manufacturers operate in China, with over 140,000 workers. Industry wage costs are expected to total $1.6 billion in the current year.
This industry is highly dependent on international trade. Industry exports are expected to total $2.9 billion in 2020, accounting for 22.6% of industry revenue.... Learn More
Based on the expert analysis and our database of 280+ China industries, IBISWorld presents a list of the Fastest Growing Industries in China in 2021
VIEW ARTICLEBased on the expert analysis and our database of 280+ China industries, IBISWorld presents a list of the Biggest Industries by Employment in China in 2021
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