Retail sales of household appliances and consumer electronics China 2019-2023

The graph shows the retail trade revenue of household appliances and consumer electronics in China from July 2019 to July 2023. In July of 2023, retail sales of household appliances and consumer electronics in China had amounted to almost 72.6 billion yuan.

Electrical appliances in China

The household appliance industry in China has grown into a multi-billion dollar industry. In the first ten months of 2021 alone, market volume of the Chinese electrical household appliances sector had amounted to about 1.4 billion yuan. As the Chinese home appliance industry flourishes, Chinese household electronics companies play an increasingly important role in the global market. Since 2014, Chinese company Midea Group had been the world’s largest household appliance company with a total sales value of approximately 51 billion U.S. dollars in 2022. Another Chinese company, Gree Electric Appliances, ranked second with a total sales value of about 28 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 1,820 yuan in 2021, and continues to grow. Market growth of the Chinese household appliances market was mainly driven by rising individual income levels and growing urbanization.