Fastest Growing Industries by Exports in China in 2023

1. Alternative-Fuel Car & Automobile Manufacturing in China

Growth in Exports for 2023: 48.3%

The Alternative-Fuel Car and Automobile Manufacturing industry in China has developed strongly in the past five years due to government favorable policies that have resulted in improving vehicle performances, increasing numbers of charging facilities, and changing attitudes toward environmental protection. Industry revenue is expected to increase at an annualized 48.1% over the past five years through 2022, to total $255.1 billion. This includes growth of 55.9% in the current year. Industry profit is relatively high, averaging 11.0% of industry revenue in 2022, lower than 11.4% in 2021, mainly due to increasing prices of automobile parts.

Industry exports are limited, estimated at... Learn More

2. Coal Product Manufacturing in China

Growth in Exports for 2023: 27.4%

The Coal Product Manufacturing in China has exhibited declined growth over the past five years, mainly affected by the accelerated process of global ‘de-coal' and clean energy substitution. In addition, with the realization of central heating in cities of China in winter and the popularity of gas and natural gas in cities, fewer and fewer consumers use coal products as fuel for heating and cooking. The demand for coal products declined in recent years. Industry revenue is expected to decrease at an annualized rate of 5.7% over the five years through 2023, to an estimated $2.8 billion. This trend includes... Learn More

3. Battery Manufacturing in China

Growth in Exports for 2023: 22.6%

The Battery Manufacturing industry in China is dominated by foreign-funded companies. More than 50% of the assets of the industry's large-scale enterprises are owned by joint ventures or foreign enterprises, including ones based in Hong Kong, Macau and Taiwan. Japanese capital accounts for the majority of the industry's foreign capital. Promoted by strong development in various downstream industries including electronics manufacturing, new energy automobile manufacturing, electric power generation, and communications and information, industry revenue is expected to total $264.7 billion in 2023, up by 8.5% for the year and having grown by an annualized 7.4% over the past five years.... Learn More

4. Coke Smelting in China

Growth in Exports for 2023: 21.5%

The Coke Smelting industry in China has experienced difficult operating conditions over the past five years. This result has been due to changing demands from downstream industries, increasing level of environmental protection requirements and fluctuation in the prices of industry products. Industry revenue is expected to increase at an annualized 5.0% over the five years through 2022, to total $116.2 billion. This trend includes an anticipated revenue increase of 6.4% in the current year. In the first half of 2022, affected by Russia Ukraine conflict, the Spring Festival, the Winter Olympics, production restrictions in autumn and winter and the COVID-19,... Learn More

5. Automobile Manufacturing in China

Growth in Exports for 2023: 20.0%

Revenue for the Automobile Manufacturing industry is expected to increase by a CAGR of 1.5% over the five years through 2023, to total $763.0 billion. Rising domestic demand across urban and rural areas and increasing exports have driven industry revenue growth over the period.

Rising household income levels and competitive pricing have encouraged more Chinese consumers to purchase automobiles over the past five years, particularly in major cities. A series of favorable government policies and subsidies for car-buyers in rural areas, have further boosted industry revenue.

With intensifying market competition, large number of automobile manufacturers have adopted reducing prices measures to... Learn More

6. Chinese Medicinal Herb Growing in China

Growth in Exports for 2023: 18.9%

As the production raw materials in the upstream of the industry chain, Chinese Medicinal Herb Growing in China is the basis for the development of the traditional Chinese medicine industry. China began the cultivation and planting of Chinese medicinal materials as early as the Tang Dynasty. The Qing Dynasty began large-scale cultivation of Chinese medicinal materials. However, the large-scale cultivation of many varieties began in the 1950s. At present, it has reached the stage of large-scale, intensive and industrialized cultivation base production. China is one of the largest growing and consumer countries of ginseng and pseudo-ginseng in the world. Rising... Learn More

7. Juice Production in China

Growth in Exports for 2023: 18.1%

Operators in the Juice Production industry in China have experienced fluctuating growth in the past decade, together with China's entire beverage production sector. The proportion of fruit juice beverages consumed in China has been growing as growth in carbonated soft drinks has slowed due to market saturation and health concerns.

Over the five years to 2022, industry revenue has declined at an annualized 1.1%. There are about 568 enterprises operating in the industry, with a total employment of over 106,833 staff.

Industry revenue is expected to total to $20.4 billion in 2022, up by 7.8% from 2021. Total output of fruit and... Learn More

8. Dental Equipment Manufacturing in China

Growth in Exports for 2023: 17.3%

Revenue for the Dental Equipment Manufacturing industry has grown rapidly over the past five years, at an annualized 14.8%. The industry had long been undeveloped in China, as neither government nor citizens paid much attention to dental health. In 2022, there are 107 industry enterprises, which together generate $3.1 billion. Constantly improving living standards and greater emphasis on dental health have been the main drivers of industry development over the period.

The industry has expanded over the past five years. In 2022, revenue is expected to reach $3.1 billion, up 14.8% for the year. Industry growth over the past five years... Learn More

9. Engine Manufacturing in China

Growth in Exports for 2023: 16.4%

China's economic growth has driven demand for the machinery manufacturing industries in recent years. The rapid development of many downstream sectors, including engineering machinery, farming machinery and traffic engineering, contributed to the development of the Engine Manufacturing industry in China. Industry revenue is expected to increase at an annualized 5.7% over the five years through 2022, to $71.8 billion. This includes growth of 17.3% in the current year.

Slightly over 806 enterprises operate in the industry, employing approximately 268,675 workers, and total wage costs of approximately $3.3 billion. Profit is expected to account for 6.6% of industry revenue in 2022.

Industry revenue... Learn More

10. Biological and Biochemical Product Manufacturing in China

Growth in Exports for 2023: 16.2%

The Biological and Biochemical Product Manufacturing industry has grown its revenue by an annualized 11.5% over the five years through 2022, to total $109.7 billion. The industry has benefited from the development of the national economy, rising household disposable incomes and increasing investment in the healthcare sector by the government. Improvements in China's social security system, the establishment of a public health system and the formation of the new rural cooperative medical care system have boosted demand for industry products, particularly vaccines. Under the influence of the COVID-19 pandemic, people's willingness to receive flu vaccines and other types of vaccines... Learn More