The release of the third quarter report of the listed home appliance company in 2024 has unveiled a series of new changes in the home appliance industry in multiple dimensions such as market, brand, and competition since the beginning of this year. In the view of the home appliance circle, the pattern of home appliances is relatively stable, the home appliance market continues to be turbulent, and the consumption of home appliances continues to differentiate, but the ability of different home appliance categories to "make money" and "absorb gold" continues to differentiate.

Since the beginning of this year, the "money-making index" of different household appliances such as white appliances, black appliances, kitchen appliances, and small household appliances in the first-tier market has accelerated the differentiation of strength and weakness, exceeding the expectations of many home appliance manufacturers.
Recently, the release of the performance report of listed companies in the home appliance industry in the third quarter of 2024 has given the outside world a clearer and three-dimensional understanding of the development trend of the home appliance industry, especially the market development opportunities and space of white appliances, black appliances, kitchen appliances, as well as household appliances, cleaning appliances and other categories.
In particular, there is a more three-dimensional cognition and judgment on the transformation, development and reform actions of Haier, Midea, Gree, Hisense, TCL, Changhong, Boss, Vantage, Joyoung, Supor, Aucma, Whirlpool China and other enterprises.
In the view of the home appliance circle: as the home appliance industry matures, the consumption of household appliances becomes diversified and personalized, the home appliance enterprises move towards giantization and branding, and the home appliance market moves towards turbulence and change, the future market competition will continue to be white-hot, and the vicious war and vicious fighting will not disappear, and the consumption in the main market will continue to be stratified and segmented.
In the end, the test for all home appliance manufacturers is comprehensive and three-dimensional. From the perspective of the home appliance circle, in the first three quarters of this year, the biggest attraction of the home appliance market is that the "gold absorption ability" of different household appliance categories is polarized, which will provide more ideas and references for the next stage of market operation layout of home appliance manufacturers, especially the adjustment of business categories.
01
|
the white electricity industry as a whole has maintained a steady and rising trend, but the market has accelerated to become a giant and a brand, the air conditioning category continues to be eye-catching in terms of scale and profits, and the high-quality development of refrigerators and washing machines is on the right track.
The duopoly situation of Midea and Haier in white goods has forced Gree, Hisense and TCL to find new strength, and these companies are under great pressure to expand in air conditioners, refrigerators, washing machines and other categories. However, this kind of healthy competition between large enterprises will also push up the competition threshold of the white electricity industry.
Air conditioning is still the scale and profit responsibility of the white electricity industry, so the competition is relatively fierce, many small and medium-sized air conditioning manufacturers are facing great pressure to survive and operate this year, and the profit margins of leading enterprises are steadily increasing; The competition in the refrigerator and washing machine market is relatively moderate, and the relevant leading companies have been promoting the restructuring of business scale and profits.
|
02
|
the overall development of black electricity is under pressure but there are still opportunities, and there is no solution to the sluggish shipments in the domestic market, but the overseas market continues to increase in volume, becoming a new breakthrough for many enterprises. The main highlights of the market,Focus on TCL and Hisense's fierce competition for globalization,The focus is to catch up with Samsung、Squeeze other peers。 This also makes Konka, Skyworth, Sharp, Samsung, LG, Philips and other peer development face transformation, such as becoming a professional foundry, or looking for growth space and business momentum in other industries.
In the field of black electricity, in addition to TVs, the market for projectors has also begun to fall, so that XGIMI, Guangfeng and other enterprises are facing greater development pressure and profitability challenges. Similarly, the development of the speaker industry such as the sound bar supporting the TV has fallen into a period of turbulence and instability. How to connect and empower the entertainment and experience of black electric products through the overall solution still needs to be explored by leading enterprises.
|
03
|
the overall downturn in the kitchen appliance industry, the market size will continue to decline, and the market of integrated cooker categories continues to plummet, which is already very illustrative of the problem, lack of power and lack of stamina. The transformation of the leading enterprises represented by Robam Appliances was too slow and did not grasp the opportunity, but allowed Vantage Co., Ltd. and Wanhe Electric to find an opportunity point, which is to focus on product refinement and deep cultivation; Zhejiang Meida, Martian, Yitian Intelligent, Shuai Feng Electric and other integrated stoves "Four Little Dragons" are listed on the highlight, and they are going all the way down at this stage. The essence is that the demand of users has become less, and the renovation of the old kitchen of the stock still needs time and cycle of cultivation.
In addition to integrated stoves, new opportunities have emerged in the market for range hoods and gas stoves, but dishwashers and water purifiers have fallen into the channel of weak growth. Under the kitchen space, whether the refrigerator can become a new breakthrough and opportunity point depends on how the head kitchen appliance companies such as Fotile and major appliance companies such as Haier create and break through.
|
04
|
there is no bottom line in the competition in the small household appliance industry, which leads to the need to find a way to push up the threshold of market operation. However, the development of the two major domestic and overseas markets is unbalanced. In the past two years, OEM in foreign markets has replaced the consumption growth of the domestic market, resulting in the performance and development of Xiaoxiong Electric, Supor, Joyoung, Xinbao and Delmar, showing an uneven trend;
There has been no major change in the development of household rigid demand categories such as rice cookers, microwave ovens, and micro-steaming and baking machines, while the development of non-rigid needs categories such as air fryers, wall breakers, cooking machines, and health pots is facing great uncertainty. In addition, the development of small household appliances in health care and personal care has been showing a "turbulent" situation.
|
05
|
cleaning appliances such as floor scrubbers and sweeping robots have been upgraded by consumption, as well as young people's pursuit of a relaxed and pleasant lifestyle, which has led to the continuous growth of the entire cleaning appliance market, and has also allowed Ecovacs, Dreame Technology, Rock Technology, Lake Electric and other companies to win new consumption dividends.
It's unclear how long this wave of clean appliances will last. However, Ecovacs, Timco, Stone, Dreame, Lake and other companies are promoting the diversified expansion of their business categories, entering many industries and fields such as washing machines, water purifiers, dryers, hair dryers, and new energy auto parts.
|
Although the growth rate of old categories of cleaning appliances such as vacuum cleaners and mite removers has slowed down, the market demand is still there, and we should pursue a long stream. At present, the unit price and profitability of the entire cleaning appliance market are limited by the impact of consumption downgrade and continues, and the price of many products has fallen all the way, even lower than the factory cost price, which is amazing.