Over the past five years, total revenue for the Farming Machinery Manufacturing industry has been growing at an annualized rate of 18.1% to an estimated $22.4 billion. This rapid growth was stimulated by increasing export volumes, strong domestic demand and consistent government subsidies.
In 2009, the value of exports decreased as foreign demand declined due to the weak global economic environment, exports rebounded to $2.1 billion in 2010, up 19.4%. In 2014, exports increased 11.3% to $2.2 billion, about 18.8% of industry revenue. In 2015, exports are forecast to increase 10.7% to $2.4 billion, accounting for 10.9% of total industry revenue.
Firms in the Farming Machinery Manufacturing industry in China manufacture agricultural and farm-related mechanical machinery and equipment. The main products manufactured by this industry are machinery used for soil treatment, crop farming or fertilization, plant harvesting and gardening.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.