China Small Home Appliances Market Snapshot
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Due to COVID-19 pandemic, the small home appliance market is presently experiencing a slight decline in the retail sales; however, it has also accelerated consumer willingness to upgrade their spending on small home appliances. Their willingness to upgrade can be divided into two parts. Consumers see the home as a reflection of their own personal aesthetic and are putting more emphasis on the smart home concept. In the meantime, design is also important in purchasing premium small home appliances.
China’s small home appliances market has expanded considerably over recent years. The Chinese home appliances market is experiencing a profitable growth due to improving disposable incomes, urbanization, and increasing consumption of home appliances in rural areas.
China is the fastest-growing home appliances market all over the world. Being technically advanced and relatively cheaper, many countries are importing home appliances from China. China is the largest consumer market for home appliances. Rising incomes and the desire for a comfortable and western-oriented lifestyle are the reasons for the positive development.
Advances in urbanization, the development of the real estate market and intelligent electronic devices provide fertile ground for the growth of the home appliance market. The technological efforts undertaken by brands in the home appliance market in China will allow the sector to remain competitive.
Scope of the Report
A complete background analysis of the China Small Home Appliances Market, which includes an assessment of the National accounts, economy, and the emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report. China Small Home Appliances Market is segmented by Product (Vacuum Cleaners, Food Processors, Coffee Machines, Irons, Toasters, Grills and Roasters, and Other Small Appliances), and by Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online, and Other Distribution Channels).
|Grills and Roasters|
|Other Small Appliances|
|Supermarkets and Hypermarkets|
|Other Distribution Channels|
Key Market Trends
Technological Advancements Driving the Market
China owns the largest home appliances market in the world in terms of its volume. It is one of those rare markets that show a trend for consistently high growth over the recent years. With leading manufacturers introducing more small, handy, intelligent products that could be actively managed and operated from smartphones or other devices, artificial intelligence implementation is the main trend in this market.
The launch of technology-driven small appliances is encouraging consumers to transform their basic kitchen into a smart kitchen. Technological advancements and replacements play a vital role in the growth of the China home appliance market trends.
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Internet Retailing Continues to Gain Share in the Market
Internet retailing is the process of selling goods and services through electronic media, particularly the internet. The boom in e-commerce in China is being supported by its convenience in terms of product comparison and home delivery, broad product offer, competitive pricing, and capacity to reach consumers who do not have easy access to other channels. Internet retailing became increasingly important in small cooking appliances.
The channel provides a wide range of small cooking appliances capable of satisfying consumers’ increasingly diverse and personalized requirements.
The report covers major international players operating in the China Small Home Appliances Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Chinese companies eyeing to tap online channel for small home appliances market
- As per 2020 industry insights, China's small household appliance enterprises will see a market expansion in the near future as they make continuous innovations in the fields of technology, quality, and design. The products sales on Alibaba's online marketplace Taobao have increased by over 50% year-on-year in the first half of 2020, while its sales on JD rose by over 40% on a yearly basis.
- As of 2020, in Foshan which is a manufacturing hub of electrical appliances in South China, a rising number of manufacturers have seen steady growth in sales during the last several months, especially through the online channels.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on impact of technology and innovation in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1.1 Vacuum Cleaners
5.1.2 Food Processors
5.1.3 Coffee Machines
5.1.6 Grills and Roasters
5.1.7 Other Small Appliances
5.2 Distribution Channel
5.2.1 Supermarkets and Hypermarkets
5.2.2 Specialty Stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.2 Midea Group
6.2.3 Gree Electric Appliances Inc.
6.2.5 TCL Corporation
6.2.7 Galanz Group
6.2.10 Konka Group*
7. TRENDS AND FUTURE OF THE MARKET
8. DISCLAIMER AND ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The China Small Home Appliances Market market is studied from 2018 - 2027.
What is the growth rate of China Small Home Appliances Market?
The China Small Home Appliances Market is growing at a CAGR of >1% over the next 5 years.
Who are the key players in China Small Home Appliances Market?
Haier, Midea Group, Gree Electric Appliances Inc., Changhong, TCL Corporation are the major companies operating in China Small Home Appliances Market.