A CHINA Research and Intelligence report shows the growth rate of the Chinese electric machinery industry, including motors and generators, is in decline.
According to the report, during 2001 and 2007, the average annual growth rate of Chinese electric machinery industry remained over 20%. The industry declined in 2008 due to the financial crisis.
In November 2009, there were over 2,000 electric machinery enterprises in China. China Research and Intelligence says although the quantity is large most of the products are positioned in the low end market with minimum added value.
The report claims the global financial crisis has driven away the low-price competition era of electric machinery.
China Research and Intelligence says the Chinese electric machinery industry is in urgent need of reintegration to eliminate inferior enterprises and retain competitive manufacturing companies.
“Speeding up the transformation of enterprises and propelling the industry integration are the absolute choice for the development of this industry,” the report stated.
The electric machinery industry is a major part of the electric industry. It consists of the electric generator and generator set sector, the electric motor sector and the micro motor sector.
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