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The engine industry in China is still going strong in 2017, mainly driven by the rapid development of the country’s booming machinery industry and its sub-sectors, such as engineering machinery, farming machinery, industrial engineering for construction, oil and gas equipment, mining, marine, and downhole engines. Today, China is one of the world’s primary engines and motors manufacturers and also one the top engine exporters. With the country’s staggering economic growth, the engine industry in China is expected to reach new heights going forward.
New business opportunities are constantly being created in China’s rapidly growing engine market. BizVibe’s platform helps suppliers and buyers identify new product sourcing opportunities with the best production experts from the top engine and motor suppliers in China. The business networking platform is targeted towards companies that want to simplify the buying and selling process, get product quotes quicker and reach leading engine industry players in China.
Grow Your Business Network: Connect with the Top Engine Suppliers in China
Engines and motors — one of the most important product categories in China’s engineering machinery industry — are widely used in a variety of industrial sectors such construction, oil and gas, and mining. The off-road engine is the most popular product segment at the moment with the highest market value in China’s engine market, thanks to the influx of new purchase orders within this segment; particularly for transport vessels, followed by engineering vessels, oil and gas development vessels, and offshore drilling platforms.
According to a recent report from IBISWorld, the total revenue of China’s engine manufacturing industry is expected to reach $42.3 billion in 2017, achieving an annualized rate of 4.6% in the past five years. Another report from Research and Markets shows that, in the first half of 2017, sales of engine for construction machinery totaled 378,300 units, up by 68.7% year-over-year (YoY); engines for agricultural machinery had 2.0955 million units sales (up 20.23% YoY); Ship engines sold 10,800 units ( up 16.72% YoY), sales of generator engines recorded 805,400 units (up 7.89% YoY), and engines for garden machinery sold 1.8229 million units (up 3.73% YoY).
Currently, China’s engine industry is highly geographically concentrated, with Jiangsu, Shandong, and Shanghai accounting for about 57.7% of the total annual revenue. Jiangsu is now the largest manufacturing bases of internal combustion engines in China, accounting for 16.7% of industry revenue in 2017. Some of China’s largest engine manufacturers include Yuchai, Weichai, Changchai, Jiangsu Nonghua Intelligent Agriculture Technology, Tri-Ring, Shandong Changlin Agricultural Equipment.
When it comes to engine exports, China is the world’s third largest engine exporter, after the USA and Germany. In 2016, China exported over $2 billion worth of engines and motors to the global market, representing 12% of the world’s total engine supplies. The USA, Japan, Germany, India, and South Korea are some of the top exporting markets for China’s engine products.
China’s leading position in the global engine industry has also attracted a significant number of buyers and traders from all over the world. To help your engineering business stay at the peak of the industry, BizVibe provides the best solutions to source products and make business deals with the top engine suppliers in China. As China’s engine production continues to storm the market, don’t miss your chance to connect with the best suppliers, manufacturers, and companies on BizVibe.
Related Industry: Engines Manufacturers in the USA
Related Industry: Industrial Machinery Manufacturers in Germany
Top Company: China Jialing Industrial Co Ltd Group
Top Company: Shanghai Diesel Engine Co Ltd