CHINA REFRIGERATION APPLIANCES MARKET 2022-2028

Consumer Goods & Services | Consumer Electronics

CHINA REFRIGERATION APPLIANCES MARKET 2022-2028

Market by Category and Distribution Channel | Forecast 2022-2028

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In terms of revenue, the China refrigeration appliances market is anticipated to rise with a CAGR of 5.87% during the forecast period 2022-2028. The market was valued at $23056.00 million in 2021 and is expected to rise to a revenue of about $34832.98 million by 2028.

In terms of volume, the China refrigeration appliances market by category is anticipated to rise with a CAGR of 1.90% during the forecast period 2022-2028. The market totaled 46648.60 thousand units in 2021 and is expected to reach 53290.90 thousand units by 2028.

Refrigeration appliances refer to any stationary device designed to contain as well as use refrigerant gas in order to establish as well as maintain colder temperatures as compared to the surrounding temperatures in a confined space. Some of the examples and applications of refrigeration appliances include household refrigerators & freezers, commercial refrigeration appliances, cold storage warehouses, and others.

A key factor driving the refrigeration appliances market in China is the increasing demand for large capacity and 4-door fridge-freezers. The COVID-19 pandemic caused an increase in the necessity for food storage, which boosted the sales of huge capacity and 4+ door fridge-freezers in 2020. People began to stockpile food, especially in the early phases of the disease. With the normalization of food hoarding behavior continuing in 2021, consumers were inclined towards high-capacity models with four or more doors as the pent-up replacement demand was gradually freed.

Increased consumer interest in premium-first purchases and replacement upgrades due to increased disposable incomes, rise in cooking at home, and food storage awareness, benefited models with large volume storage capacities, multiple storage areas, and various storage temperatures to address the problem of flavor tainting in foods. As a result, volume sales of products with four or more doors, and refrigerators and freezers with capacities of 511 to 595 liters or more, surged in 2021.

However, the increase in unit pricing brought on by the growing raw material costs is projected to restrain the expansion of the Chinese refrigeration appliances market over the forecast period. Because of the supply chain disruption, the cost of raw materials increased throughout 2021, which compelled producers to increase the retail prices of finished items to some level. Additionally, according to business sources, Midea Group’s unit costs for its various refrigerator products increased by roughly 10% to 15%, from March 2021. The cost of non-ferrous metals and other commodities is expected to rise in the near future, making refrigeration equipment even more expensive across the country. Hence, this is expected to hamper the adoption of refrigeration devices.

Triton Market Research’s report provides in-depth insight into China’s refrigeration appliances market, along with segmentation analysis. The detailed analysis of the market includes PESTLE analysis, competitive landscape, key buying criteria, market share analysis, brand share analysis, and value chain analysis. The segmentation analysis of the China refrigeration appliances market includes the market by category and distribution channel.

The key players in the Chinese refrigeration appliances market are Haier Group Corporation, Midea Group, Hisense, Hefei Meiling, and Xingxing Group.

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Table of Content

1. CHINA REFRIGERATION APPLIANCES MARKET – SUMMARY

1.1. MARKET DEFINITION

1.2. MARKET SIZE & FORECASTS

1.3. MARKET DRIVING ASPECTS

1.4. MARKET RESTRAINING ASPECTS

1.5. KEY PLAYERS

2. CHINA REFRIGERATION APPLIANCES MARKET OUTLOOK

2.1. IMPACT OF COVID-19 ON THE CHINA REFRIGERATION APPLIANCES MARKET

2.2. MARKET SHARE ANALYSIS

2.3. BRAND SHARE ANALYSIS

2.4. PESTLE ANALYSIS

2.5. KEY BUYING CRITERIA

2.6. VALUE CHAIN ANALYSIS

3. CHINA REFRIGERATION APPLIANCES MARKET – BY CATEGORY (VALUE IN $ MILLION & VOLUME IN THOUSAND UNITS)

3.1. BUILT-IN REFRIGERATION APPLIANCES

3.2. ELECTRIC WINE COOLERS/CHILLERS

3.3. FREEZERS

3.4. FRIDGE FREEZERS

3.5. FRIDGES

4. CHINA REFRIGERATION APPLIANCES MARKET – BY DISTRIBUTION CHANNEL (VALUE IN $ MILLION)

4.1. HYPERMARKETS

4.2. ELECTRONICS AND APPLIANCE SPECIALIST RETAILERS

4.3. E-COMMERCE

4.4. OTHER DISTRIBUTION CHANNELS

5. COMPETITIVE LANDSCAPE

5.1. HAIER GROUP CORPORATION

5.2. MIDEA GROUP

5.3. HISENSE

5.4. HEFEI MEILING

5.5. XINGXING GROUP

6. METHODOLOGY & SCOPE

6.1. RESEARCH SCOPE & DELIVERABLES

6.2. SOURCES OF DATA

6.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: CHINA REFRIGERATION APPLIANCES MARKET 2022-2028 (IN $ MILLION)

TABLE 2: REFRIGERATION APPLIANCES MARKET, MARKET SHARE ANALYSIS, 2020 & 2021 (IN %)

TABLE 3: REFRIGERATION APPLIANCES MARKET, BRAND SHARE ANALYSIS, 2020 & 2021 (IN %)

TABLE 4: CHINA – COUNTRY SNAPSHOT

TABLE 5: CHINA REFRIGERATION APPLIANCES MARKET, BY CATEGORY, 2022-2028 (IN $ MILLION)

TABLE 6: CHINA REFRIGERATION APPLIANCES MARKET, BY CATEGORY, 2022-2028 (IN THOUSAND UNITS)

TABLE 7: CHINA REFRIGERATION APPLIANCES MARKET, BY DISTRIBUTION CHANNEL, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: REFRIGERATION APPLIANCES MARKET, MARKET SHARE ANALYSIS, 2020 & 2021 (IN %)

FIGURE 2: REFRIGERATION APPLIANCES MARKET, BRAND SHARE ANALYSIS, 2020 & 2021 (IN %)

FIGURE 3: KEY BUYING CRITERIA

FIGURE 4: VALUE CHAIN ANALYSIS

FIGURE 5: CHINA REFRIGERATION APPLIANCES MARKET, BY CATEGORY, 2021 & 2028 (IN %)

FIGURE 6: CHINA REFRIGERATION APPLIANCES MARKET, BY BUILT-IN REFRIGERATION APPLIANCES, 2022-2028 (IN $ MILLION)

FIGURE 7: CHINA REFRIGERATION APPLIANCES MARKET, BY BUILT-IN REFRIGERATION APPLIANCES, 2022-2028 (IN THOUSAND UNITS)

FIGURE 8: CHINA REFRIGERATION APPLIANCES MARKET, BY ELECTRIC WINE COOLERS/CHILLERS, 2022-2028 (IN $ MILLION)

FIGURE 9: CHINA REFRIGERATION APPLIANCES MARKET, BY ELECTRIC WINE COOLERS/CHILLERS, 2022-2028 (IN THOUSAND UNITS)

FIGURE 10: CHINA REFRIGERATION APPLIANCES MARKET, BY FREEZERS, 2022-2028 (IN $ MILLION)

FIGURE 11: CHINA REFRIGERATION APPLIANCES MARKET, BY FREEZERS, 2022-2028 (IN THOUSAND UNITS)

FIGURE 12: CHINA REFRIGERATION APPLIANCES MARKET, BY FRIDGE FREEZERS, 2022-2028 (IN $ MILLION)

FIGURE 13: CHINA REFRIGERATION APPLIANCES MARKET, BY FRIDGE FREEZERS, 2022-2028 (IN THOUSAND UNITS)

FIGURE 14: CHINA REFRIGERATION APPLIANCES MARKET, BY FRIDGES, 2022-2028 (IN $ MILLION)

FIGURE 15: CHINA REFRIGERATION APPLIANCES MARKET, BY FRIDGES, 2022-2028 (IN THOUSAND UNITS)

FIGURE 16: CHINA REFRIGERATION APPLIANCES MARKET, BY DISTRIBUTION CHANNEL, 2021 & 2028 (IN %)

FIGURE 17: CHINA REFRIGERATION APPLIANCES MARKET, BY HYPERMARKETS, 2022-2028 (IN $ MILLION)

FIGURE 18: CHINA REFRIGERATION APPLIANCES MARKET, BY ELECTRONICS AND APPLIANCE SPECIALIST, 2022-2028 (IN $ MILLION)

FIGURE 19: CHINA REFRIGERATION APPLIANCES MARKET, BY E-COMMERCE, 2022-2028 (IN $ MILLION)

FIGURE 20: CHINA REFRIGERATION APPLIANCES MARKET, BY OTHER DISTRIBUTION CHANNELS, 2022-2028 (IN $ MILLION)

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