The Gross Domestic Product (GDP) in China expanded 5.20 percent in the second quarter of 2025 over the same quarter of the previous year. This dataset provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the real gross domestic product (GDP) of Shanghai municipality in China increased by around *** percent from the previous year. Shanghai is the most populous city in China and has the largest GDP of all Chinese cities. It is located in Eastern China on the southern estuary at the mouth of the Yangtze river. Development of GDP growth in Shanghai As a bridgehead to global markets and a forerunner in market opening, Shanghai experienced a decades long economic boom, which massively changed the shape of the city. Economic growth rates had double digits for more than two decades since 1992 and were well above the Chinese national average. This changed fundamentally with the global financial crisis. In 2008, the growth rate fell below ten percent and gradually declined thereafter. Growth rates now got closer to the national average of GDP growth. While the economic development in Shanghai has already reached a high level, other regions in China are catching up, and growth rates in many inland regions of China are now higher than in Shanghai. This is especially true on a city level, with many lower-tier cities experiencing higher growth rates than Shanghai. Sector distribution of GDP growth Upon closer examination of the distribution of GDP across economic sectors, it becomes obvious that the service sector of the economy exhibited the highest growth rates in most of the recent years. In 2024, services already accounted for more than ** percent of the value added to the GDP, which is far above the national average. In contrast, the industrial sector, which had once been of great importance to Shanghai's economy, is losing momentum and its share in total economic output is shrinking constantly. Financial intermediation and information industries were branches in the service sector that displayed the fastest growth rates in recent years.

In 2023, the gross domestic product (GDP) of Shenzhen city in China increased by *** percent compared to the previous year. Located next to Hong Kong, Shenzhen ranked first for GDP in the Guangdong-Hong Kong-Macao Greater Bay Area. The GDP growth of Shenzhen slowed down continuously in the past years.

Regional gross domestic product (GDP) in China varies tremendously across the country. In 2024, the GDP of Guangdong province amounted to around **** trillion yuan, whereas that of Tibet only reached about ***** billion yuan. While Guangdong has a thriving economy and is densely populated, Tibet is located in a remote mountain area and has a population of only around *** million people. Regional economic differences in China China can generally be divided into four different economic macro-regions: the economically well-developed coastal parts in Eastern China, the less-developed Central and Northeastern China, and the developing region of Western China. This division is reflected in the figures for regional per capita GDP. The coastal parts of China are not only economically more advanced, but also have a considerably higher population density. This is the result of climatic conditions on the one hand and China's firm integration into the global economy on the other. International companies were initially attracted by special economic zones set up in coastal areas during China's market opening, and well-connected, highly developed urban areas of Eastern China are still favored by international businesses. Prospects for future development The Chinese government has long since been aware of the economic disparities in the country and the political unrest they might stir. Major efforts have been made to improve the conditions in less developed regions. The situation in Central and Western China has improved considerably in the last two decades, and rural poverty decreased on a striking scale. In recent years, growth rates in the west of China have even been higher than in coastal areas. However, the constraints of the global economy remain, and it is very likely that Eastern China will stay ahead in international markets in the foreseeable future.

China's housing prices have been growing nearly twice as fast as national income over the past decade, despite a high vacancy rate and a high rate of return to capital. This paper interprets China's housing boom as a rational bubble emerging naturally from its economic transition. The bubble arises because high capital returns driven by resource reallocation are not sustainable in the long run. Rational expectations of a strong future demand for alternative stores of value can thus induce currently productive agents to speculate in the housing market. Our model can quantitatively account for China's paradoxical housing boom.

The Chinese economy continued to expand in 2019, buoyed by booming tourism, rising exports, and increasing private investment. Moreover, per capita disposable income also increased by 8.9% in nominal terms during the year. These factors positively impacted the demand for beer and ciders in the country. However, GDP growth in China decelerated from 6.6% in 2018 to 6.1% in 2019, weakened by its trade disputes with the U.S. Read More

Energy-based economic development brings about some environmental problems, and as China’s economy shifts from rapid growth to high-quality development, the implementation of environmental regulation is crucial to achieving environmental protection and high-quality economic development. Based on the panel data of 14 prefectures and cities from 2000 to 2018 in Xinjiang, this study explored the impact of environmental regulation on high-quality economic development by constructing a comprehensive evaluation index system and using entropy method and Tobit regression model. The results show that 1) overall, each 1% increase in environmental regulation is associated with a 0.037% rise in high-quality economic development level; 2) regionally, each 1% increase in environmental regulation is associated with a 0.119% rise in high-quality economic development level in northern Xinjiang, but the effect on the southern Xinjiang is not significant; 3) each 1% increase in environmental regulation, the level of high-quality economic development decreased by 0.034% from 2000 to 2010 and increased by 0.061% from 2011 to 2018. In general, this study adds to the theoretical and empirical study on the influence of environmental regulation on high-quality economic development while providing a methodology for other economies to assess the relationship between the two.

In 2024, the average per capita gross domestic product (GDP) in the Guangdong - Hong Kong - Macao Greater Bay Area ranged at ****** U.S. dollars. Per capita gross domestic product in Macao amounted to around ****** U.S. dollars in that year, ranking first among cities in the Greater Bay Area. The Greater Bay Area in China The political concept of the Guangdong - Hong Kong - Macao Greater Bay Area was introduced to the public in 2017 and further implemented by jointly signed agreements in the following years. It aims at integrating the special administrative regions of Macao and Hong Kong into the Chinese mainland and boosting the economy of all participating cities in the Pearl River Delta. The development plan for the Greater Bay Area is part of a national Chinese initiative to promote several economic city clusters in China. On the Chinese mainland, nine cities are part of the Greater Bay Area region, all of them located in Guangdong province: Shenzhen, Guangzhou, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen, and Zhaoqing. In the long run, the joint plan intends to develop the region into the world's largest and economically most successful Bay Area. Per capita GDP in the Greater Bay Area In terms of per capita GDP, the more mature economies of Macao and Hong Kong are still ahead of mainland Chinese cities in the Greater Bay Area, although Shenzhen and Guangzhou belong to the most developed cities in the whole of mainland China. However, growth rates on the mainland are considerably higher than in Hong Kong and Macao. This is especially true for Shenzhen, which is famous for its past economic boom and has developed into a bustling high-tech location, home to the well-known computer and internet giants Huawei and Tencent.

The 'financialisation' of Chinese housing, land and infrastructure - the use of financial instruments to convert the built environment into investment opportunities - generates momentum and vitality in the Chinese economy and has led to wealth accumulation. This study explores how the Chinese housing boom has been financed in the absence of a more developed financial system, and to what extent the financial sector has contributed to the overall appreciation of housing and land assets. A large questionnaire survey was conducted in six case cities including Shanghai, Shenzhen, Chengdu, Xi'an, Nanjing and Tianjin.The Chinese financial system has fostered rapid economic growth in recent decades through so-called 'land-based financing' (tudi chaizhen) in housing, land and infrastructure development. The 'financialisation' of Chinese housing, land and infrastructure - the use of financial instruments to convert the built environment into investment opportunities - generates momentum and vitality in the Chinese economy and has led to wealth accumulation. Real estate financing instruments such as the real estate investment trust (REITS), mortgage securitisation, reverse mortgages and public-private partnerships (PPP) in infrastructure have been recently invented. On the other hand, traditional real estate financial products such as household mortgages and real estate loans benefit from new internet-based finance. Chinese real estate finance has now entered a phase of 'financial explosion'. However, the concrete channels, complex arrangements and new instruments are not entirely known. This research project aims to investigate how housing, land and infrastructure are actually financed, what are the new financial instruments, to what extent there is a trend of 'financialisation', and what are the risks associated with this transformation. We examine the recent trend of financialisation in terms of the forms and extent of the involvement of both the formal and the unofficial ('shadow banking') sectors in real estate development. Recent developments in REITS and PPP will be examined to show the inflow of financial capital in housing, land, and infrastructure projects. We explore how the Chinese housing boom has been financed in the absence of a more developed financial system, and to what extent the financial sector has contributed to the overall appreciation of housing and land assets. We will also try to understand the potential impacts of financialisation on households, enterprises and local government finances (i.e. the issue of 'local debt') and what are the main factors affecting financial stability. The project investigates three levels of financing mechanisms: projects and enterprises, local governments, and individual households. We choose six case cities: in the coastal region, Shanghai and Shenzhen; the central region: Zhengzhou and Changsha; the western region: Chongqing and Chengdu. At the local government (city) level, we will examine the institutional environment and policies regarding built environment finance, including the involvement of housing provident funds. This research project will assess the recent trend of financialisation in Chinese housing, land and infrastructure sectors and provide a nuanced understanding of the changing financial mode, its dynamics and the new institutional environment. The project will examine emerging financial products and new channels in these sectors and their operational mechanisms. The project will focus on household financial behaviour to understand the new trend of financialisation of real estate and its impact on housing consumption, investment behaviour, and job preference. The project will further assess macroeconomic implications such as the impact on the Chinese financial system, financial product innovation, fiscal policies and company investment. Finally, these findings will lead to an assessment of the potential risks associated with financialisation and recommendations for risk management. The sample was collected through random face to face interview at the site of China Housing Provident Fund Centres in six cities (Shanghai, Shenzhen, Tianjin, Nanjing, Chengdu, Xi’an). Verbal consent was made before interview by the Centre in the same way as other NSFC projects. The rejection rate was 9.6%. The sample reflects the population of housing provident fund applicants rather than the total urban resident population. But because housing provident fund is a mainstream compulsory scheme, the sample reflects the population who qualifies housing provident funds and has the intention to apply for the mortgage.

China Feed Additives Market Outlook 2031:

The China feed additives market size was valued at USD 4.35 Billion in 2022 and is projected to reach USD 6.70 Billion by 2031, expanding at a CAGR of 4.92% during the forecast period 2023 - 2031. The growth of the market is attributed to shifting consumption behavior and lifestyles

Food security is vital to all countries well-being. Food insecurity is common in fragile nations, as restricted availability to basic essentials can jeopardize a country's social and economic stability.

Years of economic expansion have allowed China's government to make significant achievements in improving food access throughout the nation, but the country's economic boom has created a new set of demographic demands and environmental pressures.



Accelerated economic expansion has resulted in significant decreases in China's undernourished population.



In China, sea food is consumed at large capacity which makes the manufacture of fish feed additives for the aquaculture industry a growing business. Use of natural compounds are employed for a variety of goals including boosting the immune systems of farmed fish encouraging development achieving the ideal flesh and skin color, and enhancing the organoleptic qualities of the farmed product.



Feed firms developed locally and nationally, and China feed sector has become increasingly varied since its inception, with privately-owned enterprises leading the way. The country currently contains some of the world's major feed firms.



China has agreements with Australia to gradually reduce tariffs on beef and dairy imports, and it also has deals with numerous Eastern

The relatively young Marine Services industry in China has grown alongside China's booming marine economy. Industry revenue is expected to increase at an annualized 7.6% over the five years through 2025, to total $884.2 million. This trend includes expected growth of 7.7% in 2025. The industry profit margin is expected to be 8.8% in 2025.China's marine economy accounted for 7.8% of the national economy in 2024. The marine economy's importance is anticipated to grow further, bringing more businesses to the industry. Approximately 347 marine services enterprises operate in the industry, employing 9,474 people in 2025. Over 90% of marine services providers operate with annual revenue of less than $1.0 million. The top four companies, Guangzhou Marine Geological Survey, Qingdao Institute of Marine Geology, Yantai Shunda Ocean Engineering Service Co., Ltd. and National Marine Environmental Forecasting Center, jointly account for an estimated 23.3% of industry revenue in 2025, which indicates a low concentration level.Foreign ownership in the industry mainly occurs through joint ventures with domestic enterprises. These joint ventures combine the local backgrounds of domestic firms with the technological strength of foreign investors. In 2025, foreign-investment firms (including firms from Hong Kong, Taiwan and Macau) are estimated to account for 3.4% of enterprises, but generate 14.8% of industry revenue.Industry revenue is forecast to grow at an annualized 4.0% over the five years through 2030, to reach $1.1 billion. Growing investment in marine engineering construction and marine pollution control programs will largely drive this growth. Governments, enterprises and research institutes are also projected to invest more in research and development for marine services over the period.

China Email List With a $18.5 trillion GDP and more than 30 million new businesses, China's booming economy presents enormous B2B expansion prospects. Our China Business Email List puts you right in touch with important decision-makers spanning finance, manufacturing, education, technology, and more. Our GDPR and CCPA-compliant database guarantees secure, omnichannel outreach whether you're targeting C-level executives in Beijing or technology l

Travel and Tourism Spending Market Outlook

In 2023, the global travel and tourism spending market size was valued at approximately $1.3 trillion, with projections indicating a rise to about $2.5 trillion by 2032, reflecting a compound annual growth rate (CAGR) of around 7.5%. This robust growth is driven by an array of factors, including the increasing disposable income among middle-class populations worldwide, rapid urbanization, the proliferation of affordable travel options, and the growing inclination toward experiential travel. The macroeconomic environment combined with the digital revolution has significantly altered consumer behaviors, making travel more accessible and desirable.

One pivotal growth factor is the increasing disposable income across emerging economies such as China, India, and Brazil. As these regions continue to witness economic growth, more individuals are gaining the financial capability to spend on travel and tourism, thereby contributing to market expansion. Additionally, the burgeoning middle-class segment in these countries has a growing appetite for domestic and international travel, aided by improved infrastructure and governmental support for tourism initiatives. Consequently, this economic uplift has created a more favorable environment for increased travel and tourism spending.

Technological advancements have also played a crucial role in shaping the travel and tourism spending market. The advent of online booking platforms, mobile applications, and digital payment systems has simplified the travel planning process, making it more convenient for consumers to book flights, accommodations, and other travel-related services. Furthermore, the use of artificial intelligence and big data analytics by travel companies to offer personalized experiences and targeted marketing has enhanced consumer engagement and satisfaction, driving repeat business and higher spending in the sector.

The rising consumer preference for experiential travel over material goods is another significant driver of growth. Modern travelers are increasingly seeking unique and immersive experiences, such as adventure tourism, cultural exploration, and eco-friendly travel options. This shift in consumer preferences has led to higher spending on activities, tours, and events, enriching the overall travel experience. Additionally, the growing awareness and emphasis on sustainable tourism have prompted travelers to choose eco-friendly accommodations and travel options, further boosting spending in this niche segment.

In-destination Travel has emerged as a significant trend within the travel and tourism industry, reflecting the evolving preferences of modern travelers. This concept focuses on enhancing the travel experience by offering a wide range of activities and services at the destination itself. Travelers are increasingly seeking to immerse themselves in the local culture, participate in unique experiences, and explore hidden gems that are not typically highlighted in traditional travel itineraries. This shift towards in-destination experiences is driven by the desire for authenticity and personalization, allowing travelers to connect more deeply with the places they visit. As a result, travel companies are investing in partnerships with local businesses and communities to offer curated experiences that cater to diverse interests, from culinary tours and adventure activities to cultural workshops and wellness retreats. The emphasis on in-destination travel not only enriches the travel experience but also contributes to the local economy by supporting small businesses and promoting sustainable tourism practices.

From a regional perspective, Asia Pacific is witnessing the fastest growth in travel and tourism spending, fueled by the economic boom in countries like China and India. North America and Europe remain significant players in the market due to their well-established tourism infrastructure and high levels of disposable income. Meanwhile, regions such as Latin America and the Middle East & Africa are gradually emerging as attractive travel destinations, thanks to their rich cultural heritage and natural beauty. These regions are increasingly investing in tourism infrastructure and marketing campaigns to attract international tourists, thereby contributing to overall market growth.

Type Analysis

The travel and tourism spending market can be segmented into domestic and international types. Domestic travel remains a significant segmen

Articulated Boom AWP Market Outlook

The articulated boom aerial work platform (AWP) market size is projected to experience robust growth over the forecast period, expanding from a market value of approximately $4.5 billion in 2023 to an anticipated value of $8.7 billion by 2032, reflecting a compound annual growth rate (CAGR) of 7%. The growth is primarily driven by a surge in construction activities and modernization of infrastructure globally. The increasing focus on safety and efficiency in construction and maintenance tasks is encouraging the adoption of AWPs, as they provide essential support in reaching heights safely and efficiently.

The growing emphasis on infrastructure development, particularly in emerging economies, is a critical factor fueling the market's expansion. Countries in the Asia Pacific and Latin America are investing significantly in urbanization and industrialization projects, which are expected to drive the demand for articulated boom AWPs. This trend is further complemented by the rapid development of smart cities and the need for modern infrastructure, which require advanced equipment for maintenance and construction activities. The versatility of articulated boom AWPs, which allows them to be used in various applications such as construction, utilities, and logistics, also plays a vital role in their increased adoption.

Technological advancements in the design and functionality of articulated boom AWPs are another growth factor. The integration of telematics and IoT-enabled systems in AWPs enhances their operational efficiency and safety, driving their demand across various sectors. These technological features provide real-time data and monitoring capabilities, allowing operators to manage fleets efficiently and reduce downtime. The shift towards electric and hybrid AWPs to meet strict environmental regulations and reduce carbon emissions is also contributing to market growth, as these alternatives offer quieter operation and lower operating costs compared to traditional diesel-powered models.

The increasing focus on occupational safety standards and regulations is expected to further boost the market. Governments and regulatory bodies worldwide are implementing stringent safety norms to prevent workplace accidents, which in turn is leading to higher adoption rates of advanced equipment like articulated boom AWPs. Companies are compelled to comply with these regulations, thereby investing in safer and more efficient machinery. Additionally, the trend of using rental services for AWPs, especially by small and medium enterprises (SMEs), is gaining traction as it allows these businesses to access the latest equipment without significant capital investment.

Regionally, North America currently holds a significant share of the articulated boom AWP market, driven by the well-established construction sector and stringent safety regulations. However, the Asia Pacific region is expected to exhibit the highest growth rate due to infrastructural investments and rapid urbanization in countries like China and India. The increasing population and economic growth in these regions are leading to higher construction activities, thereby driving the demand for AWPs. Europe, with its strong emphasis on sustainable construction practices and stringent emission norms, is also anticipated to contribute significantly to the market growth, especially with the adoption of electric and hybrid AWPs.

In addition to articulated boom AWPs, the market is also seeing a growing interest in Truck-Mounted AWP systems. These platforms offer unique advantages, particularly in urban settings where mobility and quick setup are crucial. Truck-mounted AWPs are designed to provide access to high elevations while being mounted on a vehicle chassis, allowing for easy transportation between sites. This flexibility makes them ideal for tasks such as utility maintenance, streetlight repairs, and other municipal applications. The ability to quickly deploy and reposition these platforms enhances operational efficiency, making them a valuable asset in fast-paced environments.

Product Type Analysis

The articulated boom AWP market is segmented on the basis of product type into electric, diesel, and hybrid models. Electric AWPs are gaining significant traction due to their environmental benefits and quieter operations, which make them ideal for indoor use and urban areas with noise restrictions. The demand for electric AWPs is driven by the increasing regulatory pressur

Peru's gold exports to China surged nearly 400% in the first half of 2025, driven by global economic uncertainty and record prices, though the boom is shadowed by concerns over illegal mining.

Spatial spillover effect decomposition in eastern China.

Natural Bitumen Market Outlook

The global natural bitumen market size is projected to witness substantial growth over the forecast period, with a market valuation of approximately $1.7 billion in 2023, expected to reach around $2.5 billion by 2032, reflecting a compound annual growth rate (CAGR) of 4.3%. This growth is primarily driven by the rising demand for sustainable and durable construction materials, increasing infrastructure projects worldwide, and the versatile applications of natural bitumen in various industries. Enhanced road construction activities and waterproofing requirements in emerging economies are also significant contributing factors to this market's expansion.

One of the major growth factors for the natural bitumen market is the booming construction industry, especially in fast-growing economies such as China and India. As urbanization continues to accelerate, the demand for efficient and long-lasting road surfaces increases. Natural bitumen, known for its superior binding properties and water resistance, offers an ideal solution for paving and asphalt applications. Additionally, governments in these regions are investing heavily in infrastructure development, which further escalates the consumption of natural bitumen. The material's high adhesiveness and resistance to extreme weather conditions make it a preferred choice for road construction and maintenance projects, thereby driving market growth.

Another significant factor contributing to the natural bitumen market's growth is its increasing utilization in waterproofing applications. With the rising awareness of environmental sustainability, natural bitumen is gaining traction as an eco-friendly alternative to synthetic waterproofing materials. Its natural composition and minimal processing requirements align well with the growing preference for green building materials. Moreover, the demand for waterproofing in residential, commercial, and industrial sectors has been growing steadily, providing further impetus to the natural bitumen market. The material's impermeability and durability make it highly suitable for applications such as roofing and underground structures, where moisture resistance is crucial.

Furthermore, the automotive industry's expansion is playing a pivotal role in propelling the natural bitumen market forward. As vehicle production scales up, the need for robust adhesives and coatings in automobile manufacturing rises considerably. Natural bitumen's unique properties, such as high temperature resistance and excellent adhesion, position it as an essential component in automotive coatings and sealants. Additionally, the evolving trends towards lightweight vehicles and improved fuel efficiency spur innovations in bitumen-based materials, facilitating further growth. The automotive sector's continuous advancement, especially in electric vehicles, also opens new avenues for the utilization of natural bitumen in future technologies.

In terms of regional outlook, Asia Pacific is expected to dominate the natural bitumen market during the forecast period, accounting for a significant share of the global market. This is attributed to the rapid urbanization, infrastructural developments, and favorable government policies supporting economic growth in the region. North America and Europe are also poised for substantial growth, driven by technological advancements in construction and increased focus on sustainable materials. In Latin America and the Middle East & Africa, the market is projected to grow steadily, propelled by ongoing infrastructural projects and industrial expansion.

Product Type Analysis

The natural bitumen market is segmented into various product types, including Gilsonite, Trinidad Lake Asphalt, Rock Asphalt, and others. Gilsonite, a naturally occurring solid hydrocarbon, is a significant segment due to its wide-ranging applications. It is highly valued for its versatility and unique properties, such as high softening point, low ash content, and excellent solubility in organic solvents. These features make Gilsonite a preferred choice in industries such as paints and coatings, adhesives, and ink manufacturing. Its use in the production of high-performance asphalt for road construction further enhances its market share. The increasing demand for eco-friendly and sustainable materials is also propelling the growth of the Gilsonite segment.

Trinidad Lake Asphalt, known for its natural purity and high bitumen content, is another prominent segment in the natural bitumen market. It is extensively used in road paving and roofing appl

Discover how China's second-hand luxury market is thriving due to economic challenges and shifting consumer behavior, despite deflationary pressures.

Boom Type Roadheader Market Outlook

The global boom type roadheader market size is projected to grow from USD 630 million in 2023 to USD 1,012 million by 2032, registering a CAGR of 5.5% during the forecast period. This robust growth is largely driven by increasing demand from the mining and construction sectors as well as advancements in roadheader technology.

One of the critical growth factors for the boom type roadheader market is the significant rise in infrastructure projects worldwide. Rapid urbanization and industrialization, particularly in developing economies, are driving the need for tunneling and underground construction, thereby increasing the demand for advanced roadheader equipment. Additionally, government initiatives to improve and expand infrastructure are also contributing significantly to market growth.

The continuous advancements in technology are another pivotal growth factor. Modern boom type roadheaders are equipped with sophisticated features such as automated control systems, enhanced cutting heads, and improved mobility. These advancements not only enhance operational efficiency but also reduce labor costs and improve safety, making them highly attractive to end-users. The integration of IoT and AI for predictive maintenance and real-time monitoring is also playing a crucial role in driving market growth.

Environmental regulations and sustainability concerns are further propelling the boom type roadheader market. The mining and construction industries are adopting more eco-friendly machinery to reduce their carbon footprint. Boom type roadheaders are designed to minimize environmental impact, making them a preferred choice in projects that prioritize sustainability. Additionally, the rise in renewable energy projects, which often require substantial tunneling efforts, is also boosting the demand for roadheaders.

Regionally, the Asia Pacific market is expected to dominate the boom type roadheader market, followed by North America and Europe. The rapid economic growth and urbanization in countries like China and India are driving significant demand for roadheaders in this region. Additionally, government investments in infrastructure development and mining activities are further fueling market growth in the Asia Pacific. North America and Europe are also witnessing steady growth due to technological advancements and the replacement of old machinery with modern, efficient roadheaders.

Product Type Analysis

The boom type roadheader market is segmented by product type into single boom, double boom, and telescopic boom. Single boom roadheaders are primarily used in smaller tunneling projects and are valued for their versatility and ease of operation. They are particularly popular in urban construction projects where space constraints are a significant concern. The market for single boom roadheaders is expected to grow steadily, driven by increasing urbanization and the need for efficient tunneling solutions.

Double boom roadheaders, on the other hand, are designed for more extensive and complex tunneling operations. These machines offer enhanced stability and cutting efficiency, making them suitable for large-scale mining and construction projects. The double boom segment is anticipated to witness substantial growth, bolstered by rising investments in mining and large infrastructure projects worldwide.

Telescopic boom roadheaders are relatively newer in the market but are gaining traction due to their ability to reach challenging and confined spaces. These roadheaders offer flexibility and improved maneuverability, making them ideal for specialized tunneling applications. The demand for telescopic boom roadheaders is expected to grow at a significant rate, driven by advancements in technology and the increasing need for versatile and efficient tunneling equipment.

The product type segment is witnessing continuous innovations aimed at improving the efficiency and versatility of roadheaders. Manufacturers are focusing on integrating advanced technologies such as automation and remote control to enhance the operational capabilities of different boom types. This trend is expected to lead to the development of more sophisticated and efficient roadheaders, driving market growth further.

Report Scope

BackgroundTo vigorously promote the integrated development and mutual adaptation of agriculture and logistics is an important way to realize agricultural modernization and rural revitalization. Along with the policy support of agricultural industry chain and the steady rise of the demand for agricultural products market, the total amount of agricultural product logistics continues to increase, and the growth rate remains stable. With the booming development of "Internet + agriculture" and e-commerce platform, agricultural logistic market welcomes a new round of development opportunities, reaching several trillion yuan. Compared with the developed countries, our agricultural product logistics is still far behind. At present, only 15% of vegetables and fruits and 30% of fresh meat have professional logistic transportation, while most of the rest are still in the state of local and primitive. The gap of logistic environment construction and logistic elements determines the difference in final benefit of agricultural products. The purpose of this study is to find out the influence of logistic elements on regional agricultural economic growth, and whether the influence between neighboring regions presents "the same prosperity", "the same loss" or "sharing weal and woe".MethodsBased on the panel data of the statistical yearbook of 31 provinces in China from 2005 to 2020, the spatial Durbin model was constructed under the spatial weight matrix of economic distance and economic geographical distance to conduct empirical analysis, and the internal factors of logistics industry, factor spillover effect and its impact on agricultural economic growth were studied.ResultsResults showed that: (1) considering economic distance factor, the spatial coefficient of the time-fixed effects model passed the significance test in eastern China. Considering economic geographic distance factors, the individual and double fixed effect models passed the significance test in central China, and all models passed the significance test in western China. (2) From the perspective of logistic infrastructure, AVLFA, HM, TN and RM had a positive effect on the growth of agricultural economy in eastern China, but LIAV is on the contrary. AVLFA had a positive effect on agricultural economic growth, but TN was on the contrary in central China. In western China, LIAV and TN promoted agricultural economy while HM and RM held back it. From the perspective of the volume of logistics activity, both eastern and central regions did not pass the significance test, but FA was tested by the double fixed effect model and showed negative in western China. From the perspective of control variables, FU, AO and PT all promoted agricultural economy in eastern China, and FU and AO did the same in central and western China. PT was invalid in central regions and hindered agricultural economy in western China, which was different.ConclusionFrom the perspective of spatial spillover effect decomposition, the eastern region presents "one prosperity and all prosperity, and sharing weal and woe", while the central and western regions present "one prosperity and all prosperity, and one lost and all lost". At last suggestions as formulating the overall plan for the development of regional logistics, paying attention to regional differences and promoting coordinated development of logistics and agriculture in light of local conditions, and paying attention to the spatial spillover effect of elements were put forward.