Farming Machinery Manufacturing in China - Industry Market Research Report

Farming Machinery Manufacturing in China - Industry Market Research Report

Farming Machinery Manufacturing in China

Revenue for the Farming Machinery Manufacturing industry is expected to increase at an annualized 0.2% over the five years through 2023, to total $24.3 billion. Increasing export volumes, rising domestic demand and consistent government subsidies supported growth earlier in the period. Industry revenue is expected to increase by 1.8% in 2023, following several years of declines. Agricultural machinery has gradually increased in quality, and high-tech and advanced products have become highly popular among the industry's markets. However, market demand is shifting and competition among similar products has increased. Industry revenue is expected to increase by 1.8% in 2022.

Firms in the Farming Machinery Manufacturing industry manufacture agricultural and farm-related mechanical machinery and equipment. The industry mainly manufactures machinery used for soil treatment, crop farming or fertilization, plant harvesting and gardening.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.