Fastest Declining Industries in China by Revenue Growth (%) in 2021

1. Clothing Stores in China

2019-2020 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

2. Shoe Stores in China

2019-2020 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

3. Plastic Parts Manufacturing in China

2019-2020 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

4. Wine Production in China

2019-2020 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

5. Air-Conditioner Manufacturing in China

2019-2020 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

6. Mining Equipment Manufacturing in China

2019-2020 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

7. Cutting Tool Manufacturing in China

2019-2020 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

8. Convention & Exhibition Services in China

2019-2020 Revenue Growth: -9.5%

The Convention and Exhibition Services industry in China is expected to generate $5.6 billion in revenue in 2020, decreasing by 10.6% from 2019. Industry revenue is expected to rise at an annualized 3.4% over the five years through 2020. The industry is anticipated to manage an estimated 5,910 conventions and exhibitions in 2020.

Strong domestic demand for convention and exhibition services has stemmed from the growing Chinese economy and increasing international trade. Major international events such as the 2008 Beijing Olympics, the 2010 World Expo in Shanghai and the 2014 APEC summit in Beijing have driven industry growth. The top four... Learn More

9. Luggage Manufacturing in China

2019-2020 Revenue Growth: -8.5%

The Luggage Manufacturing industry in China has expanded over the past five years. Industry revenue is expected to fall at an annualized 0.8% over the five years through 2020, to $86.1 billion. This trend includes anticipated revenue decline of 11.8% in 2020. The industry comprises an estimated 4,806 enterprises employing more than one million people, with wage payments totaling an estimated $7.3 billion in the current year. However, several factors have constrained the industry's performance over the past five years. These factors include high volumes of unbranded and low-value products flooding the market, cheap variations of renowned foreign brands, low... Learn More

10. Logging in China

2019-2020 Revenue Growth: -8.3%

As a steadily growing economy, China's demand for wood materials has grown at a strong rate over the past five years. Real estate industries, infrastructure construction and furniture manufacturing industries are currently the major downstream consumers of logs, wood and timber in China. As local forest resources are scarce, the Logging industry relies considerably on imports.

Industry revenue is expected to grow at an annualized 3.5% over the five years through 2020, to $23.8 billion. This trend includes an expected decline of 12.1% in the current year. In 2015, industry revenue grew by 9.9% to total $20.0 billion. In 2016, the... Learn More