Electrical appliances in China – additional information
The household appliance industry in China has grown into a multi-billion dollar industry. In 2013 alone, revenue generated in the Chinese electrical appliances sector had amounted to about 1,284 billion yuan. As of 2012, the industry had employed about 1.3 million people, representing 0.17 percent of the total workforce in China. As the Chinese home appliance industry flourishes, Chinese household electronics companies play an increasingly important role in the global market. In 2014, Chinese company Midea Group had been the world’s largest household appliance company with a total sales value of approximately 23 billion U.S. dollars. Another Chinese company, Gree Electric Appliances, ranked second with a total sales value of about 21 billion U.S. dollars.
Per capita expenditure of private households on household appliances and consumer electronics in China had skyrocketed from approximately 110 yuan in 1990 to 1,215 yuan in 2013, and continues to grow. Market growth of the Chinese household appliances market was mainly driven by rising individual income levels and growing urbanization. In 2013, annual growth of the household appliances market in China had reached 11.8 percent and is projected to grow 9.3 percent year-on-year in 2016.