China's machinery production projected to grow steadily over the next four years

From a low base in 2016, total revenue from Chinese machinery production is estimated to have increased 4.9 percent in 2017 and will continue to grow at a CAGR of 6.9 percent from 2018 to 2021, says IHS Markit.

Production of construction machinery in China increased 38.4 percent in 2017, with a continuing 10 percent average annual growth rate from 2018 to 2021. The production of electronics and electronic assembly machinery also increased 10 percent in 2017. After that, steady growth will continue, at a CAGR of 12.1 percent from 2018 to 2021.

Agricultural machinery production grew by only 4.1 percent in 2017, with a CAGR of 7 percent from 2018 to 2021. Production of industrial robots grew significantly, increasing by 48 percent in 2017, with a CAGR of 38.7 percent from 2018 to 2021.

The Chinese machinery production downturn is over and growth has resumed, says IHS Markit. National macro-policy guidance has become the main factor driving the industry’s recovery. According to the firm’s Machinery Production Market Tracker for Q4 2017, the change in China will create new areas of growth for the machinery and equipment industry.

For more information, visit technology.ihs.com/589456/machinery-production-market-tracker-q4-2017.