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Market demand growth of electric household appliances China 2008-2018

Growth of the market volume of electric household appliances in China from 2008 to 2018

by Statista Research Department, last edited Feb 12, 2015
Market demand growth of electric household appliances China 2008-2018 This graph shows the market demand growth of electric household appliances in China from 2008 to 2013, with a projection up until 2018. In 2008, market demand of white goods in China had increased by about eight percent.
Electric household appliances market in China – additional information

Mainly owing to rising income levels of Chinese consumers and China’s urbanization drive, the electric household appliances market in China has been surging rapidly. As the Chinese income grows, the expanding middle class sets higher demands for household appliances in line with a higher quality of life. How to fulfill users’ needs of more user-friendly, smarter home appliances is one of the biggest challenges that Chinese home appliance companies are facing. Revenues in the electrical appliances sector in China had reached 1,284 billion yuan in 2013, up from about 715 billion yuan in 2009.

In 2014, the leading home appliance manufacturer both in the domestic and global market was the Midea Group with sales amounting to nearly 23 billion U.S. dollars. Second in line that year was Gree Electric, one of Midea’s major competitors, with sales amounting to 21.2 billion U.S. dollars.

Despite the positive momentum of the electric household appliances market in China, traditional offline retailers are struggling. Jingdong Mall was the world’s fastest growing retailer according to Deloitte, with a retail revenue CAGR of almost 124 percent between 2008 and 2013. In 2014, the sales value of Jingdong Mall had amounted to approximately 37 billion U.S. dollars, converting to about 230 billion yuan. For comparison, the largest Chinese offline retail chain Gome had generated about 143 million yuan in sales that same year.
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Growth of the market volume of electric household appliances in China from 2008 to 2018

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