Interact Analysis have recently updated the Manufacturing Industry Output Tracker (MIO) with an update to the China tracker and the growth of China’s manufacturing industry.
The below infographic demonstrates some of our key findings.
The infographic is also available to download in PDF here
– China was the only major manufacturing region not to contract during the pandemic. It grew by 1.9% in 2020 and we expect continued growth in 2021 at 5.9%.
– This was mainly due to the quick recovery of the export market in 2021 with China’s exports more than 25 % year-on-year in Q1-Q3.
– The semiconductor industry in China has become the strongest preforming industry with expected growth of 9.5% in 2021 due to the high rate of demand.
– China accounts for 50% of global semiconductor production with Europe (5.1%), Americas (8.3%) and Asia (31.1%) accounting for the majority of the rest.
– Due to China’s strong performance during the pandemic, overall forecast CAGR (21-25) for the region was still 3% with industry production also having a CAGR of 3%.
– The strongest performing machinery sectors in 2021 were; Textile Machinery (10.3%), Semiconductor & Electronics Machinery (9.3%) and Food & Beverage Machinery (7.9%) by growth versus 2020.
– Highest CAGR (21-25) categories: Farming Machinery (6.8%) Machine Tools (5.4%) and Material Handling equipment (5.2%).