The machinery sector in China - the latest report Published on: 09/01/2013
- EU SME Centre.
The Chinese machinery industry has been undergoing continuous rapid growth at a compound annual growth rate (CAGR) of around 25% in the last ten years.
Benefiting from China’s huge domestic demand driven by the industrialisation process and large investments, China has become the largest machinery producer in the world in terms of total output value. Recently, the sector has been undergoing economic re-structuring due to a slowdown in the pace of investment. Nonetheless, the ongoing industrialisation and urbanisation process will continue to be growth drivers in the future.
The machinery sector is one of the largest sectors in Europe, where most of the machinery enterprises are SMEs. Opportunities for EU SMEs fall within knowledge-intensive and high value-added areas requiring a high-level of innovation and customised solutions.