Fastest Declining Industries in China by Revenue Growth (%) in 2020

1. Amusement Parks in China

2019-2020 Revenue Growth: -16.2%

The number of amusement parks in China has been steadily increasing over the past five years, as households have looked for new and exciting ways to spend their leisure time and operators have improved their marketing and advertising strategies. However, due to the outbreak of COVID-19 at the end of 2019, all amusement parks had to cease operations in the first quarter of 2020, which could lead to a sharp decline in industry revenue in 2020. As a result, revenue for the Amusement Parks industry is forecast to decrease to $4.2 billion in 2020, down by 17.5% from 2019. Overall,... Learn More

2. Travel Agencies in China

2019-2020 Revenue Growth: -15.9%

As China's economy has rapidly developed over the past five years, the tourism sector in China has also experienced strong growth. As more people have been travelling, demand for travel services has increased. Revenue for the Travel Agencies industry in China is expected to increase at an annualized 0.8% over the five years through 2020, to $90.0 billion. Industry revenue has increased due to rising demand over the four years through 2019. However, revenue is anticipated to decrease by 17.3% in 2020 due to the COVID-19 outbreak. ACMR-IBISWorld forecasts that revenue will increase by an annualized 5.1% over the five... Learn More

3. Auto Parts Manufacturing in China

2019-2020 Revenue Growth: -12.1%

From 2004 to 2016, the growing Automobile Manufacturing industry and the growing number of automobiles in use across China supported growth in the Auto Parts Manufacturing industry in China. However, sales revenue from the downstream automobile manufacturing industry has declined since 2018, and revenue growth in the Auto Parts Manufacturing industry has been slow. In 2019, the sales volume of automobiles, especially the sales volume of passenger vehicles, declined dramatically. This trend has negatively affected sales revenue in the industry. Overall, industry revenue is expected to decline at an annualized 1.3% over the five years through 2020, to total $549.6... Learn More

4. Hotels in China

2019-2020 Revenue Growth: -11.8%

Rising tourist activity over the four years through 2019 has supported the industry's performance. Revenue for the Hotels industry in China is expected to increase at an annualized 2.8% over the five years through 2020, to $68.0 billion. However, this trend includes an expected decline of 13.2% in the current year. The outbreak of COVID-19 at the end of 2019 in China caused many hotels to close operations in the first quarter of 2020, strongly affecting industry revenue in the current year.

Foreign enterprises, which have a significant influence on the industry's development, have introduced brand and chain management concepts, along... Learn More

5. Cinemas in China

2019-2020 Revenue Growth: -9.4%

The Cinemas industry has experienced relatively high growth over the past few years with increasing demand for premium entertainment and high-quality films. Revenue for the Cinemas industry in China is expected to increase at an annualized 3.2% over the five years through 2020, to total $8.4 billion. This trend includes an anticipated decline of 10.9% in the current year, as the COVID-19 pandemic has severely restricted film screening activity in 2020.

Cinemas in cities such as Beijing and Shanghai contribute the most to industry revenue due to the higher average disposable income levels and higher concentrations of cinemas in these cities.... Learn More

6. Fast-Food Restaurants in China

2019-2020 Revenue Growth: -7.4%

In recent years, lifestyle changes and reduced leisure time have contributed to a consumer shift from traditional full-service restaurants toward fast-food establishments. In addition, increased Western influences in China have boosted demand for fast food. Due to the rapid development of fast-food service providers, improvements in chain store and franchising management, and new brands and food styles, industry growth has been strong over the past decade.

ACMR-IBISWorld estimates that the Fast-Food Restaurants industry in China will generate $157.3 billion in 2020, decreased by 8.8% from 2019 due to COVID-19 outbreak. Over the five years through 2020, industry revenue is expected to... Learn More

7. Cafes, Bars & Other Drinking Establishments in China

2019-2020 Revenue Growth: -5.8%

ACMR-IBISWorld estimates that the Cafes, Bars and Other Drinking Establishments industry in China will generate $4.7 billion in 2020, down by 7.3% from 2019. This is mainly due to the outbreak of COVID-19 in China in the first quarter of 2020. Over the past five years, industry revenue has grown at an annualized 15.9%.

In recent years, lifestyle changes, an increasing emphasis on personal happiness and the development of a range of drinking establishments have contributed to rapid industry growth. In addition, increasing urbanization in China and higher incomes have boosted demand for industry services. Improvements in chain store and franchise... Learn More

8. Wired Telecommunications in China

2019-2020 Revenue Growth: -5.4%

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. This trend is well reflected in the total number of fixed-line subscribers, which is expected to decrease by 5.4% in 2019, to 177.8 million,... Learn More

9. Motels in China

2019-2020 Revenue Growth: -5.4%

Industry revenue for the Motel industry in China is expected to decrease at an annualized 4.3% over the five years through 2019 to $18.9 billion. This trend includes an expected decline of 6.0% in the current year. The industry has approximately 62,739 motel establishments in China, employing about 2 million people with an estimated payroll of $4.3 billion.

Currently, the industry accounts for an estimated 33% of China's accommodation sector. Half of the sector's revenue is generated by hotels (IBISWorld industry report 6610), which provide higher quality services and surroundings than motels. The ongoing establishment of hotel chains and family hotels... Learn More

10. Motorcycle Manufacturing in China

2019-2020 Revenue Growth: -5.0%

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 industry has been decreasing at an annualized rate of 4.0% in the five-year period through 2019 to reach $22.8 billion.

The Motorcycle Manufacturing industry in China is forecast to continue decreasing at an annualized rate of 4.5% over the five years through 2024. By 2024, ACMR-IBISWorld projects that revenue will fall to $18.1 billion. Competition will become more intense, especially in terms of product quality, costs, types, brands and sales service.

Some cities in China... Learn More