Range hoods and integrated stoves dragged down the market, and the revenue of the head brand performed well
In the context of insufficient consumer confidence and rational consumption, consumers are more concerned about the cost performance of just-needed products。In the first half of the year, the increment of sales of the "smoke stove hot" just-needed categories was obviously insufficient, and the gas stove alone was struggling to support it。
Although the scale is small and has entered the weak stage of penetration, the entire kitchen and bathroom appliance market has maintained steady growth, of which the sales growth of dishwashers leads the kitchen and bathroom market, and the data reflects that there is still room for the release of high-end consumer demand for quality。
It is worth noting that the sales volume of tens of billions of range hoods and integrated stoves have fallen year-on-year in sales and sales, of which the latter has fallen significantly, and they have dragged down the entire kitchen and bathroom appliance market。
Among the six listed companies with a market value of more than 5 billion yuan and main business including kitchen and bathroom appliances, Midea Group and Haier Zhijia are in terms of revenue and profit。Ovi Compass data shows that the two companies have a high market share in disinfection cabinets, dishwashers, water heaters and other categories。
Wanhe Electric, which started as a water heater, increased significantly in revenue and profit, and its performance driver mainly lies in the revenue of kitchen appliances in the second business, which increased by 46 percent year-on-year.42%。
Although the boss's gross margin is higher, only it has negative growth in revenue and profit。In the semi-annual report of 2024, Boss Electric attributed the operating risk to "real estate market fluctuations", "raw material price fluctuations", "market competition brought about by the improvement of industry concentration and the increase of investment by comprehensive brands".。The gross profit margin of Supor's products was less than 30%, which decreased by 1.Forty-eight percent。This makes it in the case of higher revenue, profit than the boss, Wanhe, Huadi lower。
Shanghai Department Store will learn that the analysis believes that the overall good performance of the kitchen and bath electric listed companies means that the entire kitchen and bath electrical appliance industry will focus on the head brand, these household appliance brands are expected to rely on their own technical advantages and stronger supply chain integration ability, to eat more market share with a higher "quality to price ratio"。
"Smoke stove hot" is about to open a new upgrade cycle
According to total data from AVC, the retail sales of water heaters (electric heating + burning heat) in the first half of the year were 23.5 billion yuan, a year-on-year decline of 0.9%, retail sales of 14.27 million units, an increase of 1.4%。Water heater market "at a low price for retail volume" is still continuing, the price volume is getting stronger and stronger。
From the line listing of electric storage water heaters and gas water heaters accounted for the Top5 point of view, Haier and the United States formed the first camp, their two have more best-selling models, intermittent。Among them, the market share of the United States water heater has climbed significantly。From the average price of each brand of products, Commander-in-chief, Wanhe's electric storage water heaters mainly attack the low-end market;Janet's electric storage water heaters and gas water heaters in the forest are mainly targeted at the middle and high-end market。
From the perspective of product trends, the volume of electric storage water heaters is concentrated to 60 liters (online sales account for 57 percent of the market.94%)。Flat drum thin products with thin and beautiful appearance, double bile rapid heating and other advantages are favored by consumers。The volume of gas water heaters is concentrated to 16 liters (online sales account for 68 percent of the market.62%)。At present, the double cycle constant temperature technology of gas water heaters brings users a more comfortable temperature control experience, and the development trend of water server products in the constant temperature function is also more positive。
Deng Haiyan, chief engineer of Wanjiale Hot water Center, believes that gas water heaters have gradually developed from hot water, safety and energy saving technologies to more comfortable, healthier, smarter and more delicate directions。According to its disclosure, the company's first small volume gas water heater, since its listing in 2021, the annual growth rate has reached three digits, and Wanjiale will continue to force the track。
In terms of smoke stoves, the overall situation of gas stoves is better than that of range hoods, retail sales are better than retail sales, and single products are better than packages。According to total data from AVC, the retail sales of range hoods in the first half of 2024 were 14.9 billion yuan, a year-on-year decline of 0.Retail sales were 8.68 million units, down 3 percent year on year.3%;Retail sales of gas stoves were 8.4 billion yuan, an increase of 2.7%, retail sales of 10.47 million units, an increase of 4.8%。
The line listing of range hood and gas stove accounted for the Top5 are the same 5 brands，The boss and Mrs. Fang form the first camp，Focus on the high-end market;Huadi, the United States, Subor formed the second camp，Among them, Supor mainly targets the middle and low-end market，The market of Huadi as a range hood accounts for the third，"Zero" on popular models。In addition to Supor, the overall share of the top 5 brands in the market declined, reflecting the obvious "consumption downgrade" phenomenon in the smoke stove market, and consumers tend to choose brands with more affordable prices。
From the perspective of the product style of the range hood, near-suction (37.33%)、T 型(26.78%), top side double suction (21.42%) occupy the top three online sales market and continue to expand, hidden is expected to become a new growth track。The product trend of gas stoves can be more reflected in the parameters, and the heat flow rate is 5.More than 2kW gas stove, its online sales market share increased by 19.66 percent。
It is worth mentioning that the industry is expected that the range hood and water heater will gradually enter the first new cycle in 2026。Logically, the focus on the new upgrade of the just-needed category "smoke stove hot" will be the focus of the kitchen and bath industry in the next 3 to 5 years。
Dishwasher technology innovation is concentrated
According to the total data of AVC, the retail sales volume of the dishwasher market in the first half of 2024 was 5.8 billion yuan, an increase of 4.6%;Retail sales of 990,000 units, an increase of 3.5%。
As the second highest average price category of kitchen appliances, dishwashers lead the entire kitchen appliances category。This indirectly reflects that more and more people are incorporating dishwashers into their home as a must-have option, expecting a quality experience that frees their hands。
In the dishwasher online market, CR3 brands accounted for more than 50% and CR5 accounted for more than 70%, and the concentration was obvious, but with the decline of the market share of Midea and Siemens, the participation of enterprises in the dishwasher market was further improved, and the competition was further intensified。
From the new layout，This year is a "big year" for dishwasher technology breakthroughs and innovations.，In February, Boss Electric obtained a utility model patent for dishwasher spray arm，March Gree published a dishwasher storage control method patent，In addition, Haier applied for a utility model patent for a dishwasher drainage device，Huadi to avoid the storage of tableware bent and designed the lower bowl basket lift control patent。Dishwashers have reached a new height in terms of local innovation in China。
The iterative upgrade of dishwasher technology has also driven the price segment of the market staple, and Ovey Compass data shows that the price segment of the online market staple is 5,000 to 6,000 yuan in the first half of 2024, and the online sales share has reached 29.80%，上升 7.76 percentage points。The dishwasher market continues to develop in the direction of buying large, not small, and refining functions。The full-size embedded products have become the key investment styles of enterprises。
The market size of disinfection cabinet gradually bottomed out and rebounded。In the first half of 2024, the number of new products in the online market of disinfection cabinets was 92, with retail sales of 60 million, and the proportion of new product sales was increased by 2.36%。Sales of products in the price segment below 1000 yuan accounted for nearly half。
From the Top5 data of online listing, Kangbao, a vertical professional brand of disinfection cabinet, led the market with a market share of more than 35% and continued to expand its market share。The price positioning of its products is more in line with the current rational consumption needs, in contrast to the boss and Fang Tai, there is a certain premium, online performance is not as good as offline。
The proportion of large-capacity, embedded disinfection cabinets continues to increase。Among them, the online sales of more than 100 liters of disinfection cabinets accounted for 53%, an increase of 5 percentage points;Online sales of embedded disinfection cabinets accounted for 59% of the market, an increase of 3 percentage points。
According to the total data of AVC, retail sales of embedded micro steamed roast in the first half of 2024 were 37.300 million yuan, an increase of 2.2%。Embedded micro steaming and baking products meet the quality improvement needs of consumers with their advantages of beauty, space saving and so on。With the increase of health awareness, consumers are more concerned about the light diet of low fat, low oil and low salt, and the embedded micro-steamed baked products meet this demand well through cooking methods such as smokeless, low temperature and slow cooking。
The integrated stove market is reshuffling at an accelerated pace
The consumption downgrade has had a great impact on the integrated stove market。According to the total data of AVC, in the first half of 2024, the cumulative retail sales and retail sales of China's integrated stove market were 10.1 billion yuan and 1.14 million units, respectively, down 18 percent year-on-year.2%、15.2%。Experienced compound annual growth of 17 from 2018 to 2022.After an explosive growth of 5%, the integrated stove has been in a downturn since 2023。
In the current lack of consumer confidence, as an integrated kitchen of expensive products, its consumer audience is limited。For integrated stove companies, this year is bound to be a difficult year。
Although the market share of Top5 brands declined。However, from the perspective of brand competition, kitchen electronics brands have made efforts to integrate stoves, constantly impacting the existing brand pattern。In the first half of this year, Fangtai, Hualing (Midea's brand) and other kitchen appliances brands achieved positive growth year-on-year。The power of the big name will have an impact on the low market value of the vertical brand Martian, Etian, Shuaifeng, the United States and so on。
At present, the water purification market is facing the problem that product innovation is not enough to drive the rapid growth of the market, and the industry has entered a period of structural adjustment。The subsequent market development revolves around the strategic direction of "2+N"。
"2" means that the general trend is still dominated by flux iteration and net heat, and OVI Cloud Network (AVC) monitoring data shows that the market share of 1200G online RO water purifiers in the first half of 2024 reached 19.4%，提升 7.In the first half of 2024, the market share of online net heat integrated water purifier was 16 percent.2%，提升 3.Seven percentage points。
"N" refers to more possibilities for the development of the water purifier market，On the one hand, it is mainly to gradually improve the functional experience of existing products，For example, strengthening the sensitive touch control of the intelligent faucet, combining the hot tank and the instant heat mode to provide greater hot water flow rate，On the other hand, it develops in the direction of compound，For example, mineral content, drinking water function double direct drinking, new bubble washing, adding refrigeration function，To broaden the kitchen use scene and other directions。
For vertical kitchen and bath enterprises on the integrated stove and water purifier track, it is necessary to establish brand awareness and build user minds online。Content e-commerce platforms such as Tiktok, Kuaishou, and small Red Book will become important strategic planning channels for these categories。Owei kitchen and bathroom research group believes that to achieve precision marketing, because not put will lead to no traffic, brand recognition is reduced。
At the same time, AVC expects that in 2024, the retail volume of kitchen and bath (smoke, stove, consumption, washing, embedding, collection, electric heating, burning heat, water) will be 85.1 million units, with retail sales of 160.6 billion yuan。China's home appliance market as a whole has gone through a period of rapid growth and is entering a slow growth cycle dominated by product iteration and upgrading。
Considering that the sales of a number of kitchen and bathroom appliances are in a positive growth state, the premium brought by product upgrades is crucial in order to achieve a steady increase in the market size in the future。
Shanghai Department Store will understand that with the requirements of high-quality development, the product trend of the kitchen and bathroom market will be reflected in the four external upgrades (thin and beautiful, multi-color, spatial sense, hidden type), the four internal upgrades (intelligent, comfortable, integrated, regionalized) and the two major concept upgrades (health, environmental protection).。Kitchen and bathroom market in two to three years to "style upgrade", medium and long term around the direction of intelligence, health and environmental protection。
The above is the kitchen electricity related information brought by the small edition of Shanghai Department Store. If you are interested in this industry, welcome to visit and exchange information。
Source: China State Grid
