$14.5bn
$XX.Xbn
121k
29
$XXX.Xm
China's railway transport system is owned and operated by the government. As a result, government investment in rail transportation is crucial for the Railway Equipment Manufacturing industry's long-term development. China's Ministry of Railways is the main purchaser of industry products, which are largely supplied by state-owned operator, CRRC Corporation Limited. The dominance of the company makes the industry a virtual monopoly. The largest organizations jointly account for over 97% of total industry revenue.A recovery in government railway investment and growing demand for railway products have resulted in revenue stabilized over the past five years. However, the COVID-19 pandemic has affected industrial production and operations, resulting in an revenue decline of 27.7% in 2020. Industry revenue resumed its growth at a rate of 3.9% in 2021. Domestic demand, which continues to be the driving force behind industry growth, is estimated to total $11.8 billion in 2022, down by 13.8% from 2021 due to the recurrence of COVID-19 outbreak. Overall, industry revenue is expected to decrease at an annualized 7.4% over the five years through 2022, including a 11.1% decrease in the current year, to total $13.4 billion.Industry revenue is forecast to grow at an annualized 8.5% over the five years through 2027, to total $20.1 billion. Recovery of foreign economies will likely encourage operators from developing in foreign markets. As a result, exports are projected to grow at an annualized 11.0% over the next period, to total $2.8 billion. Imports are forecast to decrease at an annualized 3.1% over the same period, as locally made products with improved quality and lower prices satisfy a higher proportion of domestic demand.
Industry revenue has declined at a CAGR of 8.1 % over the past five years, to reach an estimated $14.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
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There are no companies that hold a large enough market share in the Railway Equipment Manufacturing in China industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including Locomotives, Passenger trains and Freight cars. Locomotives is the largest segment of the Railway Equipment Manufacturing in China.
The Railway Equipment Manufacturing industry in China consists of operators that manufacture railway equipment for transporting passengers and cargo.
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China has huge demand for railway transportation. The Chinese Government has invested heavily in constructing railways and enhancing railway transport capacity, which has res...
Learn about an industry's products and services, markets and trends in international trade.
Urban rail subways are the largest product segment. Urban rail subways are expected to represent 36.5% of industry revenue in 2023 with more cities in China constructing subw...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Industry activity is mainly concentrated in CRRC production bases. Due to the dominance position of CRRC in the industry, industry activities are concentrated in the producti...
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Industry concentration level is very high. The largest industry player, CRRC, is expected to account for 95.5% of industry revenue in 2023.
Learn about the performance of the top companies in the industry.
CRRC dominates the industry. CRRC is the largest supplier of rail transit equipment in China, representing over 95% of industry revenue in 2023.
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The industry is closely regulated by the Government. The quality and safety of railway equipment are prerequisites for ensuring the safety of railway transportation for the p...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Industry profit margins are low. Profit is at 6.5% of industry revenue in 2023. Lower profit margins are mainly due to the reduced orders of high-priced products, MUs.
Including values and annual change:
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Key data sources in China include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Railway Equipment Manufacturing industry in China is $14.5bn in 2024.
There are 29 businesses in the Railway Equipment Manufacturing industry in China, which has declined at a CAGR of 4.2 % between 2019 and 2024.
The market size of the Railway Equipment Manufacturing industry in China has been declining at a CAGR of 8.1 % between 2019 and 2024.
Over the next five years, the Railway Equipment Manufacturing industry in China is expected to grow.
Passenger and freight train manufacturing and Subway train manufacturing are part of the Railway Equipment Manufacturing industry.
The level of competition is moderate and increasing in the Railway Equipment Manufacturing industry in China.