The China home appliances market is growing at the highest growth rate around the world. With more advances in technology and easy availability of raw material at affordable prices, the nation is propelling in the home appliance market. Rapid urbanization, rise in disposable income and high demand for home appliance in rural areas of China are the other factors for this growth. According to this analysis, China Home Appliance Market is forecasted to be more than US$ 130 Billion by the end of year 2026.
The use of advanced technologies such as WI-FI and Bluetooth in the Chinese home appliance that can be accessed through smartphones and tablets are attracting tech-savvy consumers. Home appliances in China are becoming environmentally friendly and energy-efficient with new designs and advance features, the market of products like washing machines and refrigerators are growing due to premiumization trends in the country.
The contribution of ecommerce websites for the growth of home appliances in China is an added advantage with the comparison of products, competitive pricing, lucrative discount, and offers doorstep delivery. Moreover, Chinese manufacturing companies are producing quality products to fulfill local demand as they are ahead in technological innovation, have extensive distribution networks, and sell home appliance products in affordable pricing.
Subsidy by the Chinese Government
To boost the home appliances market, the Chinese government is providing subvention up to 13 percent of product price with a limit up to RMB 800 per product. This initiative was started in April 2019, for home appliances which meet the criterion for environmental and energy consumption. Some provincial government started this intuitive in January 2019, such as the Beijing municipal government provides subsidy from 8 percent to 20 percent for 15 different products.
Initiatives of Chinese Companies
Over that period, several local companies have risen, delivering accessible products to price-sensitive Chinese consumers, while also infusing the latest epoch of home appliances with intelligent connectivity to construct Internet of Things (IoT) ecosystems within the home. With the growing household market in China, Midea generated more than $ 40 billion revenue in the year 2019 with leading products, including residential and commercial air conditioners, along with dishwashers, washing machines, and refrigerators.
Midea’s smart home division focuses on linking entire sections of the home, with an intelligent health procedure to monitor air temperature and humidity, formaldehyde concentration, and other environmental factors. Another home appliance company Haier launched U+ App in June 2019. Through this mobile app, users can get information on water temperature and quality in a locality. The washing machine can provide customized washing solution by recognizing the brand and material of garments as well as brand and density of the washing liquid.
COVID-19 affecting China Home Appliances Market
Home appliances market in China has been affected due to the outbreak of the coronavirus epidemic; it has brought unprecedented defiance to China’s in lying demand and export orders. Home appliance companies have been resuming operation and then taking a break since March 2020. Pandemic COVID-19 has affected home appliances sales in China. The comprehensive analysis of COVID-19 effect on the China Home Appliances Market is provided in our research report.
This report titled “China Home Appliances Market by Products (Refrigerators, Freezers, Dishwashing Machines, Washing Machine, Cookers & Ovens, Vacuum Cleaners, Small Kitchens Appliances, Coffee Machines, Microwave Ovens, Electric Kettles) by Distribution Channels (Online and Offline), and Company Analysis (LG Corp, Electrolux, Phillips, Haier Group Corporation, and Midea Group)” provides a complete analysis of the China Home Appliances Market and Volume.
By Products - China Appliances Market and Volume Insights
In this research report, the market and volume analysis of Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Cookers & Ovens, Vacuum Cleaners, Small Kitchens Appliances, Coffee Machines, Microwave Ovens and Electric Kettles are covered.
By Distribution Channels - China Appliances Market and Volume Insights
- Online
- Offline
Products covered in the Report
- Refrigerators
- Freezers
- Dishwashing Machines
- Washing Machines
- Cookers & Ovens
- Vacuum Cleaners
- Small Kitchens Appliances
- Coffee Machines
- Microwave Ovens
- Electric Kettles
All the Companies have been covered from 3 Viewpoints
- Overview
- Recent Initiatives
- Sales Analysis
Companies Covered in the Report
- LG Corp
- Electrolux
- Phillips
- Haier Group Corporation
- Midea Group
Table of Contents
Companies Mentioned
- LG Corp
- Electrolux
- Phillips
- Haier Group Corporation
- Midea Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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