Market Size of China Major Home Appliances Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 1.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Major Home Appliances Market Analysis
China major home appliance market has been growing for the past several years. Major home appliances are large appliances used for regular housekeeping tasks such as cleaning, laundry, food preservation. Due to the constant increase in living standards and purchasing power in China, the home appliance market has a strong potential that encourages the development of strong brands.
Major home appliances are refrigerators, washing machines, freezers, dishwashers, and air conditioners. The construction of new houses is one of the main drivers for the purchase of major home appliances in China. The technological developments undertaken by brands in the major home appliance market in China will significantly increase margins on products and this will boost the sector to remain competitive.
Major home appliances such as automatic hand-washing machines and dishwashers have seen a surge in demand. China home appliance market is experiencing a profitable growth due to improving disposable income, urbanization, and increasing consumption of major home appliances in rural areas.
The Major Home appliances was negatively impacted by the dampened housing market and delays to consumers' plans for redecorating their homes in 2020 as a result of the COVID-19 pandemic. The economic impact of lockdown measures discouraged consumers from investing in upgrading large consumer appliances such as refrigeration appliances. Strict lockdown measures introduced to limit the spread of COVID-19 resulted in consumers being confined to their homes for long periods, with many people working or learning from home, while foodservice establishments were closed. This led to a significant increase in home cooking and at-home food consumption, which served to boost consumer awareness of their food storage requirements in terms of capacity and differentiated compartments.
China Major Home Appliances Industry Segmentation
A complete background analysis of the China Major 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. The market is segmented by Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Cookers and Ovens, and Other Products), and Distribution Channels (Supermarkets and Hypermarkets, Specialty Stores, Online, and Other Distribution Channels). The report offers market size and forecasts for dishwashers in value (USD Million) for all the above segments.
| Product | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Cookers and Ovens | |
| Others |
| Distribution Channel | |
| Supermarkets and Hypremarkets | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
China Major Home Appliances Market Size Summary
The China major home appliances market has been experiencing consistent growth, driven by rising living standards and increased purchasing power. This sector, which includes essential appliances like refrigerators, washing machines, and air conditioners, benefits from the ongoing construction of new homes and technological advancements that enhance product margins. The demand for smart appliances, which offer connectivity and convenience through integration with smartphones and tablets, is on the rise as consumers seek intelligent and personalized solutions. Urbanization and improved disposable incomes are further propelling the market, with consumers increasingly investing in appliances that enhance their living conditions.
The market faced challenges during the COVID-19 pandemic, with a slowdown in consumer spending on large appliances due to economic uncertainties and lockdown measures. However, the shift towards home cooking and increased food storage awareness during this period highlighted the importance of these appliances. Major players like Haier and Midea Group continue to dominate the market, leveraging strong supply chains and innovative product launches to maintain their competitive edge. Despite the challenges, mid-size and smaller companies are expanding their presence through technological advancements and new market opportunities, contributing to the dynamic landscape of China's major home appliances market.
China Major Home Appliances Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain / Supply Chain Analysis
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1.5 Porters 5 Force Analysis
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1.6 Impact of COVID on the Market
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2. MARKET SEGMENTATION
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2.1 Product
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2.1.1 Refrigerators
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2.1.2 Freezers
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2.1.3 Dishwashing Machines
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2.1.4 Washing Machines
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2.1.5 Cookers and Ovens
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2.1.6 Others
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2.2 Distribution Channel
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2.2.1 Supermarkets and Hypremarkets
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2.2.2 Specialty Stores
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2.2.3 Online
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2.2.4 Other Distribution Channels
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China Major Home Appliances Market Size FAQs
What is the current China Major Home Appliances Market size?
The China Major Home Appliances Market is projected to register a CAGR of greater than 1.20% during the forecast period (2024-2029)
Who are the key players in China Major Home Appliances Market?
1. Haier, 2. Midea Group , 3. Gree Electric Appliances Inc. , 4. Changhong and 5. Hisense are the major companies operating in the China Major Home Appliances Market.
