After more than 30 years of rapid development, China's kitchen electric industry has formed a market pattern dominated by the boss, Fangtai and Midea. Among them, the boss and Fangtai positioned the high-end market to grow rapidly, and the sales far surpassed other brands. According to the data of the Prospective Industry Research Institute, in 2010, the market share of the sales of cigarettes and stoves of Boss Electric Appliances was 15% and 10% respectively, and by 2017, the market share of sales of cigarettes and stoves of Boss Electric Appliances increased. More than 10 percentage points, rising to 27% and 24% respectively, ranking first in the industry.
The main income of the kitchen appliance industry
According to the data from the Prospective Industry Research Institute's "Production and Sales Demand and Investment Forecast Analysis Report for the Kitchen Appliance Industry", the kitchen appliance industry achieved a total of 10.241 billion yuan in the first half of 2017, a year-on-year increase of 26.12%, of which 5.642 billion yuan was achieved in the second quarter. The growth rate was 29.19%, and the growth rate was further improved. In the “big industry, small company†pattern, the industry's leading sales growth was relatively certain, and the ex-factory price of the company's products increased in the context of rising cost pressure during the year. The main business continued to grow.
In the first half of 2017, the main business of the kitchen appliance industry increased by 26.12% year-on-year, of which the second quarter increased by 29.19%.
Source of data: public information, prospective industry research institute
China's kitchen electricity market started late, mainly because domestic residents are in the order of household electricity consumption, after kitchen appliances are discharged after black electricity and white electricity, and the comparison of the popularity of refrigerators can be found that the current sales volume of range hoods is only equivalent to 07. During the period of 2009, the domestic sales of refrigerators, and the level of domestic and rural household range hoods in 15 years are only equivalent to the level of refrigerators in 1996 and 2003, respectively. According to this, the development of the kitchen industry is lagging behind the refrigerator industry for nearly 10 years. With reference to the growth trend of the refrigerator industry in the past 10 years, it is believed that the development of kitchen appliances in the next 10 years is still worth looking forward to.
According to the data of the Prospective Industry Research Institute, the output of domestic range hoods in the whole industry was 3,500,000 units in 2016. If the number of exports was 7.82 million units, it is estimated that the annual sales volume in the industry is about 22.23 million units. In 2016, air conditioners, refrigerators and washing machines were installed. And the sales volume in the color TV industry was 6049, 4763, 4128 and 55.2 million units respectively; the sales volume in the range hood was less than half of the sales volume of the "one household one" refrigerator. As the penetration rate of the range hood products gradually moved closer to the ice wash, The development space of the industry is considerable.
Sales trend in the range hood industry since 2008
Source of data: public information, prospective industry research institute
From the perspective of real estate sales data, since 2012, due to the impact of real estate regulation, the real estate completion area has remained stable, and the accumulated annual sales area has been rising. The recommendation effect on home appliance sales is expected to be better reflected in 2018.
Housing sales area and housing completion area
Source of data: public information, prospective industry research institute
High-endization represents fashion, environmental protection, safety, and intelligence. Focus on the consumer experience and pay attention to every detail.
From the industrial point of view, with the transformation of China's entire industry, smart home appliances is the development trend, it can maintain and enhance the influence of China's home appliances on a global scale, and intelligence often represents high-end. From the point of view of the consumer population, at present, after 80 and 90, it has grown into a new generation of consumer power. These two generations are different from those in the 70s and the previous years. They are willing to spend money for themselves and not to buy because of the high price. Like the brand to pursue new technologies, new products, and pay great attention to the consumer experience, the speed of replacement of the products used is obviously faster, and the choice of products obviously tends to high-end.
The population of 20-39 years old has increased steadily
Source of data: public information, prospective industry research institute
The market economy of the kitchen appliance industry is highly correlated with the real estate market.
Unlike traditional white goods such as refrigerators and washing machines, the decoration properties of kitchen appliances make them more susceptible to fluctuations in the real estate market. The impact of the real estate market on the kitchen appliance industry is mainly reflected in two aspects: on the one hand, the decoration demand brought by the house sales directly affects the market sales of kitchen appliances, and on the other hand, the fluctuation of house prices affects the proportion of renovation expenses in the purchase of new houses. Affect the demand structure of kitchen electrical products.
In the real estate decoration market, range hoods, stoves and other products in kitchen appliances have become standard, and each kitchen appliance brand also regards this field as an important sales channel. In 2016, the domestic real estate market has significantly warmed up. Considering the time lag between housing renovation and delivery, it is expected that the overall market size of the kitchen appliance industry will maintain a relatively high growth rate in the next year or two.
Increased awareness of health and increase in per capita disposable income, and gradually increase the share of kitchen appliances
With the continuous improvement of the level of economic development, the growth of per capita disposable income of residents will effectively promote the increase in the retention rate of kitchen electrical products. Although the economic development in the central and western regions is relatively backward and the number of large kitchen appliances is low, but benefiting from the continuous economic growth in the central and western regions of China and the continuous improvement of residents' awareness of kitchen appliances, the lower kitchen appliances in the central and western regions of China The rate also brings a broad market growth space to the kitchen electricity market.
The pattern of small companies in the kitchen and electric industry still exists. Compared with the ice washing products of the same household, the potential development of the range hood industry is relatively large. It is expected that the domestic sales of the industry will still nearly double the growth potential, and considering the expansion effect of the category, The industry space is even more significant; in addition, the current market share of leading enterprises is relatively small. Considering that the properties of kitchen appliances and white goods are similar, it is expected that the pattern of kitchen appliances industry in the future is expected to move closer to white electricity, and the industry “Matthew effect†will continue to emerge. The high growth characteristics of the leading industry through the industry cycle are still worth looking forward to.
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