Source: Photo.com
Recently, the 2023 Annual General Meeting of Shareholders of Gree Electric Appliances was held at the company's headquarters in Zhuhai. Dong Mingzhu, chairman and president of Zhuhai Gree Electric Appliance Co., Ltd., said that there are some articles and short videos on the Internet recently that the sales of Xiaomi air conditioners have surpassed Gree air conditioners.
In this regard, Dong Mingzhu said that there have been many rumors made up on the Internet recently, and "we are constantly fighting fakes."
She asked, Xiaomi said that it (air conditioner) ranked first, and it all depends on other manufacturers to make products, what is your technology? "Who is the first, consumers have rods and scales in their hearts".
In response to this remark, some netizens said, "Cheap and easy to use is the last word", "Anyway, my home is equipped with millet", "Is air conditioning still called technology", and some people think that "Gree's ten-year warranty can be rolled up by other companies", "There is nothing wrong with Miss Dong's words." ”
For questions, Xiaomi did not directly respond to this. However, according to Xiaomi's 2023 annual report, the shipment of air conditioning products has exceeded 4.4 million units, a year-on-year increase of 49%. In addition, according to the Guosheng Securities research report, from January to May 2024, the online sales growth rate of Xiaomi air conditioners will reach 58.05%, which is the fastest growth rate among all air conditioning brands.
Wang Teng, general manager of the Redmi brand and spokesman for the Redmi brand, said in a post on June 4 that the peak of Xiaomi air conditioners completed in a single day was as high as 78,000 orders, a year-on-year increase of 37%, setting a new record for Xiaomi's air conditioning service capacity in China.
The demand structure of China's home appliances
In recent years, due to the influence of lifestyle habits such as the "stay-at-home economy", the proportion of retail sales of household appliances such as household appliances and kitchen appliances has increased. In 2021, among all types of household appliances in China, the sales of household appliances and kitchen appliances accounted for the largest proportion, and the sales of household appliances accounted for more than 25%. In the single product category, the sales of home appliances such as air conditioners and color TVs account for a relatively high proportion.
Factors influencing the demand for household air conditioners in China
China's demand for household air conditioners mainly comes from two aspects. On the one hand, there is new demand, which mainly includes the new demand of existing families and the demand for new houses; On the other hand, there is the demand for renewal, which mainly includes the replacement of the air conditioner at the end of its service life and the enjoyment update.
Air Conditioning Market Share
From the perspective of the market share of the top 10 brands in China's air conditioning online market, in the first half of 2022, Midea's online retail sales accounted for the highest proportion, reaching 34.0%; followed by Gree, accounting for 27.5%; Haier again, accounting for 13.9%.
From the perspective of the market share of the top 10 brands in China's air-conditioning offline market, in the first half of 2022, Midea accounted for the largest proportion of retail sales in China's air-conditioning offline market, reaching 34.1%; followed by Gree, with a market share of 33.8%; Haier again, with a market share of 16.3%.
Essence Securities released a research report saying that benefiting from consumption upgrading, the increase in the penetration rate of fine decoration and the characteristics of high-quality products, the market size of household central air conditioning is expected to continue to increase. Domestic substitution is steadily advancing, leading R&D strength is outstanding, cost advantages are obvious, channel layout is extensive, and market concentration is expected to increase.
Lv Shenghua, editor-in-chief of China State Grid, said that from the analysis of the current market situation, the overall market brand pattern of air conditioning will not change greatly in the short term, but the ranking between the head brands may change, and the long-term stable duopoly market pattern may begin to loosen, and the market competition will intensify, and the weak brands will be eliminated.
Prospective Economist APP Information Group
For more research and analysis of this industry, please refer to the "Market Demand Forecast and Investment Strategic Planning Analysis Report of China's Domestic Air Conditioning Industry" by Qianzhan Industry Research Institute
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