Appliances in China industry forecasts to 2010 and 2015
Released on = April 20, 2007, 2:04 am
Press Release Author = Bharat Book Bureau
Industry = Marketing
Press Release Summary = Appliance demand in China to continue sharp gains
Household appliance demand in China has shown marked growth in recent years and reached 110.9 million units in 2005. Market gains will continue to outpace global sales of white goods, growing to 138.2 million units in 2010.
Press Release Body = Appliances in China industry forecasts to 2010 & 2015
Appliance demand in China to continue sharp gains
Household appliance demand in China has shown marked growth in recent years and reached 110.9 million units in 2005. Market gains will continue to outpace global sales of white goods, growing to 138.2 million units in 2010. Producers and distributors of household appliances recognize the tremendous market potential that China offers. However, planning for expansion into China is difficult due to the lack of reliable market information.
Appliances in China, provides you with the information and analysis you need to plan for your company's positioning in China. Is the emerging economy in China a threat or opportunity to your organization?
Cooking appliances to remain the largest and fastest growing segment
Cooking appliances will remain the largest segment in China's household appliance market, accounting for over three-fifths of total appliance sales in 2010 when measured in unit terms. Demand for cooking appliances in China is mainly supported by replacement sales, benefiting from the large product stock in China and the products'relatively shorter useful lives. The cooking appliance segment will also exhibit the fastest pace of increase through 2010. Advances will benefit from healthy growth in the number of households and a favorable outlook in residential fixed investment.
Dish sterilizers and dishwashers will also post above-average growth through 2010, benefitting from the growing popularity of these appliances in Chinese households. Rising health-related concerns, especially in prevention against infectious disease, will support market gains for dish sterilizers. Refrigeration equipment and laundry equipment will experience modest gains. Nevertheless, demand for refrigeration and laundry equipment will be fostered by rising average incomes, which will create opportunities for further market penetration.
Urban demand to dominate appliance sales while rural markets will rise faster
Urban population in China has considerably higher income and expenditure levels than their counterparts in rural areas,
and as such the urban market presents greater potential for appliance sales. In 2005, more than four-fifths of appliances sold were installed in urban households. Urban demand for household appliances will continue to dominate the appliance market through 2010, driven by both new product purchases and replacement demand. However, rural demand for household appliances will post faster gains in the 2005-2010 period, supported by rising income levels that enable a growing number of rural households to acquire such appliances as refrigerators and clothes washers for the first time.
Opportunities vary by region
The Central-East and Central-South regions will remain home to over half of China's population and account for close to two-thirds of all economic activity in 2010, presenting greater market potential for household appliances. White goods sales in Central-East and Central-South will account for nearly three-fifths of the 2010 market total. However, in the Northwest and Southwest regions, sales will constitute less than one-sixth of appliance demand in the foreseeable future.
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