Based on the expert analysis and our database of 280+ China industries, IBISWorld presents a list of the Fastest Growing Industries in China by Revenue Growth (%) in 2020
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View a list of the Top 25 fastest growing industries2019-2020 Revenue Growth: 37.1%
The Alternative-Fuel Car and Automobile Manufacturing industry in China has developed strongly in the past five years due to large government subsidies and favorable policies that have resulted in improving vehicle performances, increasing numbers of charging facilities, and changing attitudes toward environment protection. Industry revenue is expected to total $48.76 billion in 2018, up 44.0% from 2017, with an annualized rate of 131.6% over the past five years. Industry profit is relatively high, averaging 11.4% of industry revenue in 2018. Profitability has been stimulated by high levels of automation as well as government subsidies that have reduced costs for key... Learn More
2019-2020 Revenue Growth: 32.2%
The Solar Power Generation industry has developed rapidly over the past five years. Industry revenue is expected to rise at an annualized 33.2% over the five years through 2019, to $7.9 billion. This trend includes anticipated revenue growth of 34.5% in 2019.
Rising household demand for electricity in China has led to several power supply shortages over the past few years, which has stimulated demand for solar power generation. In addition, a reliance on imported oil and gas resources for power and increasing environmental consciousness have led to a strong government focus on developing renewable energy sources, particularly solar power. By... Learn More
2019-2020 Revenue Growth: 30.7%
The Internet Services industry in China is expected to maintain rapid growth of 35.2% in 2019-20, to reach $712.5 billion. Industry revenue is expected to grow at an annualized 43.8% over the five years through 2019, driven by booming domestic demand. The number of internet users in China has increased rapidly over the period.
Industry revenue is forecast to increase at an annualized 22.5% over the five years through 2024, to reach $1.96 trillion in 2024. Strong revenue growth will be mainly due to internet coverage expanding substantially in rural and remote areas in China, and thriving advertising services boosted by... Learn More
2019-2020 Revenue Growth: 20.7%
Revenue for the Smartphone Manufacturing industry in China is expected to increase at an annualized rate of 25.8% over the five years through 2019. In 2019, industry revenue is expected to grow by 22.1%, to $259.1 billion, mainly due to increased exports and growing demand for third- and fourth-generation (4G) smartphones. Exports are estimated to account for 59.2% of industry revenue in 2019.
Demand for smartphones has grown strongly over the past five years, due to the rapid development of 3G and 4G technology, an abundant smartphone product portfolio and competitive product pricing. In late 2013, the Ministry of Industry and... Learn More
2019-2020 Revenue Growth: 20.3%
Revenue for the Optical Fiber and Cable Manufacturing industry is anticipated to increase by 14.3% in 2019, to $60.9 billion. Industry revenue is expected to increase at an annualized 16.9% over the five years through 2019. Strong domestic demand growth over the past five years has been due to many information technology and telecommunications projects that have required the industry's products. The information technology and telecommunications sectors have become the major markets for optical fiber and cable due to strong household demand for internet and mobile phone services. Power generation firms are another important market for the industry.
The industry is... Learn More
2019-2020 Revenue Growth: 19.5%
The Courier industry is a relatively new business segment in China. In its modern form, it has existed for about 30 years. Due to an increasingly dynamic domestic economy and improved transportation infrastructure, the industry experienced impressive growth over the past decade. Industry revenue is expected to increase at an annualized 25.1% over the five years through 2019, to $112.8 billion. Industry enterprises are expected to total 5,038 enterprises over the period, employing over 689,630 workers with a payroll of approximately $5.6 billion.
Couriers are expected to benefit from steady future growth in China's economy, and the development of more niche... Learn More
2019-2020 Revenue Growth: 18.6%
Revenue for the Oil and Gas Drilling Support Services industry is expected to increase at an annualized 6.3% over the five years through 2019, to $59.1 billion. This trend includes anticipated revenue growth of 20.5% in the current year. The world price of crude oil has fallen significantly over the past five years. Consequently, major oil companies have reduced investment in oil and gas exploration and development, which has led to a significant reduction in demand for industry services over the period. The world price of crude oil rebounded in 2017, which contributed to a significant increase in industry revenue... Learn More
2019-2020 Revenue Growth: 17.2%
Revenue for the Iron and Steel Smelting industry has widely fluctuated over the past five years, growing as much as 22.5% in 2017 and declining as much as 21.6% in 2015. Industry revenue is expected to grow at an annualized 3.5% over the five years through 2019, to $231.5 billion.
Total domestic demand has declined since 2012, but total output has gradually increased, thereby worsening supply surplus issues. Furthermore, the prices of steel products have been increasing. In 2019, demand for pig iron and crude steel is expected to continue rising, and production is expected to increase.
Industry revenue is forecast to... Learn More
2019-2020 Revenue Growth: 17.0%
Over the five years through 2019, revenue for home appliance stores in China has increased at an annualized 11.6%, to reach $309.7 billion. Rising incomes, the expansion of chain enterprises, greater retail power over suppliers, and wider product ranges have all supported industry revenue growth over the period. Industry revenue is expected to rise by 18.5% in the current year.
Industry profitability is estimated at 8.7% of revenue in 2019. Profit levels vary significantly among different product segments, and range from approximately 6% for digital appliances to 14.5% for some kitchen and bathroom appliances. Increased industry competition over the past five... Learn More
2019-2020 Revenue Growth: 17.0%
Revenue for the Energy-Efficiency Consultants industry in China is expected to grow at an annualized 19.1% over the five years through 2019, to $121.5 billion. This trend includes anticipated growth of 14.0% in the current year. A range of energy-saving and emission reduction regulations implemented in 2006 have supported the industry's rapid growth over the past five years. Issued in 2010, the Interim Measures for Management of Financial Incentive Funds of Energy Management Contracting Projects allocated generous subsidies for contract energy management (CEM) projects. This initiative marked the beginning of the industry's standardization in China. The industry includes an estimated... Learn More
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