China Large Appliances Market Outlook To 2020: Ken Research
The report titled “China
Large Appliances Market Outlook to 2020 - Rising Preference for Smart
Technology Appliances and Replacement Demand to Drive Market” provides a comprehensive analysis of large appliances market in
China. The report focuses on overall market size for sale of large appliances.
These include revenue from domestic sale in television, washing machine, air
conditioner and refrigerator. Market was also estimated based on volume sales
in each category. Market is segmented based on product type and sub segmented
based on their essential features and price range. Segmentation is also done on
the basis of distribution channel. The report also covers the snapshot of
logistics, competitive landscape of major players in China large appliances
market, export and import scenario and product detail of bestselling models in
different category. The report concludes with market projections for future and
analyst recommendation highlighting the major opportunities and cautions.
This
report helps readers to identify the ongoing trends in the market and
anticipated growth in future depending upon changing market dynamics in coming
years. The report will help existing distributors, manufacturers along with end
users in large appliances division to align their market centric strategies
according to ongoing and expected trends in the future
Large
Appliances Market in China
China is the world most populous
country and is home to more than 1.4 billion people. It is the second largest
country in terms of economy based on nominal GDP (USD 11.4 trillion) and first
in terms of PPP basis (USD 21.3 trillion) registering a growth rate of 6.9% in
2015 . It is spread over a huge landmass of more than 9 million square
kilometer. Better economic conditions have led to rise in per capita income
improving the consumer buying capacity in China. As people have more disposable
income they use this fund to make their living conditions better and simpler.
In China, per capita ownership of large appliances is comparable to developed
world especially in urban areas.
Market for large appliances in
China is very large and is home to some of the major global players. Demand for
large appliances in China is mainly driven by replacement of existing old
products with new ones. Demand for large appliances has increased from ~
million in 2010 to ~ million in 2015 registering a CAGR of ~%. In terms of
revenue, market has increased from USD ~ billion in 2010 to USD ~ billion in
2015 registering a CAGR of ~%. Programs like Go rural subsidy, subsidized trade
in home appliances, launch of energy saving products has helped large
appliances companies to make substantial sales increase in 2011. Volume sales
increased from ~ million in 2010 to ~ million in 2011. Rising rural income has
created huge potential demand in rural areas. Minimum wages has increased by
24.0% at an average compared to 2010. Increased trend in consumer spending was
observed in rural areas due to low cost of living compared to Tier 1 and Tier 2
cities, which supported the sales growth.
Major
Large Appliances
Air
conditioners: Market for large appliances in
terms of volume is dominated by air conditioner sale. With market share of ~%
in 2015, ~ million domestic air conditioners were sold in China. Demand was
mainly driven by retail sale of artistic, high end intelligent air conditioner
which accounted for ~% sales volume in 2015 registering year-on-year increase
of ~%. Haier, Midea, Gree, Mitsubishi and Oaks are few of the major players in
the market for air conditioners in China.
Television
sets: Television sets have highest penetration
per household among large appliances in China and accounted for ~% of total
sales volume during 2015. The demand for large screen television sets in china
has increased from an average of 37.8 inches in first quarter of 2012 to 45.3
inches in first quarter of 2016. Television market in china was dominated by
Skyworth, Hisense, TCL, Changhong and others. Top three companies have
accounted for a revenue share of more than ~% during 2015.
Refrigerators: Refrigerators have become a necessary household appliance
especially in urban areas. In 2015, sales of refrigerator was mainly driven by
growing preferences for multiple door and bi-fold refrigerators, with the share
of multiple door refrigerators was recorded at ~% with YoY growth of 8.1% even
though entire refrigerator industry showcased a decline.
Washing
machines: Washing machines have lowest
market share in terms of volume during 2015 with volume share reported at ~% of
large appliances sale. Replacement demand for existing washing machines was the
major reason for growing sales of washing machine. Replacement demand has
accounted for more than ~% of total domestic sales of washing machine in China
during 2015.
Future market for large appliances
in China will be largely dominated by replacement of existing products. Many
products sold during 2010 subsidy program will be nearing replacement. As
demand in residential real estate picks up, demand for large appliances will
also increase simultaneously. Programs like Income Doubling Plan, New
Urbanization will lead to increase in demand. Improvement in quality, energy
saving appliances, smart home technology and changing consumer preferences will
drive the sale in future. Customization based on individual demand will lead to
development of market segment with high margin as customers have shown willingness
to pay premium if products meet their specific needs and requirement.
Key
Topics Covered in the Report:
Haier Sales in China
China Large
Appliances Market Genesis & Current Outlook
Future AC Sales
China
Logistics
Handling for Large Appliances in China
TV unit Industry
Sales China
Best Selling
Products for Large Appliances Market in China
Television
Industry in China
Export and Import
Scenario of Large Appliances in China
Skyworth Revenue
Growth China
Snapshot of
Online Sales for Large Appliances Market
China Air
Conditioner Sales Volume
Trends and
Developments in China Large Appliances Market
Air Conditioner
Future Growth China
Competition
Scenario in China Large Appliances Market
China Home
Appliances Market Trends
Competitive
Landscape of Major Players in China Large Appliances Market
Midea Competition
Consumer Electronics
China Large
Appliances Future Outlook and Projections, 2016-2020
China Consumer
Appliances Industry Share
For more
information about the publication, refer to the below link:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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