According to the latest data from the China Household Electrical Appliances Association, the refrigerator market in China saw a 1.69% year-on-year increase in retail volume during the first half of the year, while sales rose by 4.81%. However, the overall market still shows limited growth, with only a modest 2.08% increase in sales and a slight decline of 0.37% in some categories. Compared to other white goods, the domestic refrigerator industry remains sluggish. Industry experts note that competition in the low-end segment is extremely intense, putting small and medium-sized manufacturers under significant pressure. Meanwhile, high-end and smart products have emerged as the main drivers of growth.
The smart home market is expected to grow rapidly, with projections indicating it will surpass 100 billion yuan by 2018. This has attracted major players like Samsung and Midea to invest heavily in smart home solutions. Despite this, the refrigerator sector continues to face challenges, including rising raw material costs and rapid product innovation cycles. Small brands with limited resources and poor innovation capabilities are struggling to survive, especially with the growing dominance of e-commerce.
Smart technology is now at the heart of the industry's future. Data from Zhongyikang shows that multi-door and side-by-side refrigerators now account for 60% of the market, with cross-door models taking up 44.8% of that share. High-end smart refrigerators have become a key battleground for both domestic and international brands, such as Samsung’s Daozhi Feast series and the newly launched Fandi Luo line. Kim Kwang-jin, vice president of Samsung Electronics’ China division, highlighted that China’s consumer demand for premium products is growing, creating new opportunities for high-end appliance development.
Industry veteran Su Liang believes that smart features, air-cooled designs, and larger capacities will shape the future of the refrigerator market. Companies that focus on user-centric and intelligent design will be better positioned to capture market share.
With the smart home market projected to reach 130 billion yuan by 2018 and a compound annual growth rate of 48%, the industry is entering a period of rapid expansion. However, market concentration is increasing, with the top ten brands capturing nearly 90% of the market. This puts even more pressure on smaller brands, which must innovate or risk being left behind. As younger generations become the primary consumers, their preference for aesthetics and smart integration is pushing the industry toward more sophisticated and high-end offerings. In this fast-evolving landscape, companies without innovation capabilities face a real crisis.
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