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This deck outlines market behavior, industry trends and forecasts for the global consumer appliances market as of updated 2014 data.
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TRENDS AND INSIGHTS IN THE GLOBAL CONSUMER APPLIANCE MARKET2014
POWERED BY PASSPORT FROM EUROMONITOR INTERNATIONAL
WHAT IS PASSPORT
NEW INSIGHTS IN GLOBAL CONSUMER APPLIANCES
MAJOR APPLIANCES
SMALL APPLIANCES
PASSPORT: CONSUMER APPLIANCE DATA UPDATE
FOR 2014
© Euromonitor International
3
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© Euromonitor International
4
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OVERVIEW OF PASSPORT
WHAT IS PASSPORT
NEW INSIGHTS IN GLOBAL CONSUMER APPLIANCES
MAJOR APPLIANCES
SMALL APPLIANCES
PASSPORT: CONSUMER APPLIANCE DATA UPDATE
FOR 2014
© Euromonitor International
6
Major Appliances Overview: Volume Growth
GLOBAL SNAPSHOT
© Euromonitor International
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Small Appliances Overview: Volume Growth
GLOBAL SNAPSHOT
© Euromonitor International
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Global Production Snapshot
GLOBAL SNAPSHOT
WHAT IS PASSPORT
NEW INSIGHTS IN GLOBAL CONSUMER APPLIANCES
MAJOR APPLIANCES
SMALL APPLIANCES
PASSPORT: CONSUMER APPLIANCE DATA UPDATE
FOR 2014
© Euromonitor International
10
By 2018, Russia and Brazil will have overtaken India to become the world’s third and fourth largest refrigeration appliances markets, respectively.
Refrigeration Appliances: China Leads Global Volume
MAJOR APPLIANCES
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In China, double door bottom freezers account for over half of fridge freezer sales.
Consumers in Brazil and the US tend to buy food in bulk and preserve it in the freezer, thus double door top freezers are popular.
Drinking and Eating Habits Key to Refrigeration Appliance Design
MAJOR APPLIANCES
© Euromonitor International
12
Refrigeration Appliance Production: China Takes the Lion’s Share
MAJOR APPLIANCES
© Euromonitor International PASSPORT 44 CONSUMER APPLIANCES: PRODUCTION OF MAJOR APPLIANCES
The US remains the largest destination for Chinese export of refrigeration appliances. Exports to the US in 2011 were almost 60% higher than in 2007. As retail sales in the market are projected to expand by a further 2.7 million units between 2012 and 2017, exports are expected also to increase. Although the Japanese market is projected to shrink further in size over the next five years, relocation and OEM production could mean more business for manufacturers based in China. However, China’s dependence on exports to Japan and to troubled Eurozone members makes export growth vulnerable to the performance of consumer markets whose outlook is quite gloomy. Most of the export growth that China has recorded in these markets has come hot on the heels of the relocation of Western manufacturers. It is yet to be seen if similar growth will be replicated in the future, especially considering the gloomy scenario ahead for retail sales in many markets.
Chinese exports vulnerable to mature and troubled markets
REFRIGERATION APPLIANCES
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
USA Japan Netherlands Italy Germany France United Kingdom Canada Russia
Top Nine Chinese Export Destinations for Refrigeration Appliances 2007/2011
2007 Volume Exports 2011 Volume Exports Total Retail Volume Sale Increase 2012-17 (actuals)
China is the largest producer of refrigeration appliances.
The main importer is the US, importing
20% of Chinese exports.
© Euromonitor International PASSPORT 43 CONSUMER APPLIANCES: PRODUCTION OF MAJOR APPLIANCES
0
20
40
60
80
100
120
China Mexico India Turkey South Korea USA Brazil Thailand Russia Indonesia
Mill
ion
un
its
Top 10 Refrigeration Appliance Producers 2012
China’s dominance of refrigerator production is pe r ha ps more striking than any other category, producing almost 120 million units in 2012. It dwarfs the next nine largest producing countries. In 2012, 13% of the world’s output of refrigeration appliances is generated by Haier alone. Imports of refrigeration appliances in China are negligible, meaning that 100% of what is sold in China is also produced in the country. China is also the largest exporter, with overall volume exports accounting for 30% of its production.
China takes t
h
e li on ’s share of refrigeration production
REFRIGERATION APPLIANCES
-
20
40
60
80
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Reta
il vo
lum
es s
ale
s
(mill
ion
un
its)
Refrigeration Appliances Sales in China 2007-2017
China is also the largest exporter, with overall volume exports accounting for 30% of its production
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Home Laundry: Global Shift to Front-loading
MAJOR APPLIANCES
With the aim of improving profitability, manufacturers are driving a historic shift to front-loading washing machines in traditional top-loading markets such as the US, India, China and South Korea.
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Home Laundry Appliances: Multifunctional to Grow
MAJOR APPLIANCES
Different clothing and detergent preferences, increased urbanisation, and lack of space and time have an influence on washing habits, and are boosting sales of tumble dryers and washer dryers in emerging markets.
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Home Laundry Production and Corporate Strategies
MAJOR APPLIANCES
Western European manufacturers are relocating to lower cost Eastern Europe, with Poland benefiting the most.
In the US, rumours about possible re-shoring of production spark doubts over Mexican home laundry production.
Thailand’s semi-automatic washing machine production is expected to grow further after 2015, when the AEC (Asian Economic Community) will establish more trade freedom in the region.
© Euromonitor International
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Built-in Large Cooking The Most Dynamic Everywhere Except Asia
MAJOR APPLIANCES
Sales of built-in large cooking appliances in urban China are growing fast, but not as quickly as sales of freestanding appliances in rural areas.
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Turkey is the World’s Second Largest Exporter After China
MAJOR APPLIANCES
In 2012, 80% of total Turkish large cooking exports went to Eastern and Western Europe.
In Brazil, production of cookers is expected to increase further, as output is still insufficient to meet growing domestic demand.
WHAT IS PASSPORT
NEW INSIGHTS IN GLOBAL CONSUMER APPLIANCES
MAJOR APPLIANCES
SMALL APPLIANCES
PASSPORT: CONSUMER APPLIANCE DATA UPDATE
FOR 2014
© Euromonitor International
19
No. CategoriesSales(‘000
units)
Top product in category
Leading brand
1 Personal Care Appliances 458,995 Hair Care Appliances
2 Air Treatment Products 416,609 Cooling Fans
3 Small Cooking Appliances 397,615 Coffee Machines
4 Food Preparation Appliances 205,015 Blenders
5 Small Kitchen Appliances (Non-Cooking) 139,317 Kettles
6 Irons 133,707 Irons
7 Vacuum Cleaners 118,436 Cylinder Vacuum Cleaners
8 Heating Appliances 105,429 Electric Blankets
- 1
Small Appliances: Sales Volumes and Leading Brands In 2013
SMALL APPLIANCES
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Global competition will reduce unit prices in air conditioning
SMALL APPLIANCES
0
100
200
300
400
500
600
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
2013 2014 2015 2016 2017 2018
Vol. of A/CVol. of cooling fans
Sale
s V
olu
me
(‘0
00
un
its)
Un
it P
rice
(U
S$)
Sales Volume and Volume CAGR of Air Conditioners and Cooling Fans 2013-2018
It is expected that the global unit prices of air conditioners will decline by 5% over the next five years, whereas the unit price in cooling fans will remain the same.
China, Japan and the US led air conditioner volume sales in 2013.
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Air Conditioners: Global Brand Leaders by Region in 2013
SMALL APPLIANCES
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-500
0
500
1,000
1,500
2,000
2,500
3,000
AsiaPacific
NorthAmerica
LatinAmerica
WesternEurope
EasternEurope
Middle Eastand Africa
Australasia
Cylinder Handheld Stick Upright Robotic
Absolute Volume Growth of Vacuum Cleaners by Type and by Region 2013-2018
Ab
so
lute
vo
lum
e g
ro
wth
(‘0
00
un
its
)
It is expected that cylinder vacuum cleaners will lead absolute volume growth in all regions except Australasia and North America over the next five years.
Almost 90% of absolute volume growth of upright vacuum cleaners will come from North America.
Cylinders Lead Global Volume Sales of Vacuum Cleaners
SMALL APPLIANCES
© Euromonitor International
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Robotic Vacuum Cleaners Will Post the Highest Volume CAGR
SMALL APPLIANCES
Robotic vacuum cleaners are expected to post a global volume CAGR of 9% over 2013-2018, driven by developed markets
Absolute volume growth in robotic vacuum cleaners will be led by Japan, the US, Germany and France.
© Euromonitor International
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Vacuum Cleaners: Global Brand Leaders by Region in 2013
SMALL APPLIANCES
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0
10,000
20,000
30,000
40,000
50,000
60,000
2013 2014 2015 2016 2017 2018
Espresso
Filter
HardPods
(‘0
00
un
its
)
Volume Sales of Coffee Machines by Type 2013-2018
Pod Coffee Machines Continue to Thrive
SMALL APPLIANCES
Over the next five years, pod coffee machines are expected to see a volume CAGR of 6%.
Growth is driven by the global economic slowdown, reflected in cocooning and a desire for “affordable luxury”.
Strong competition between manufacturers is driving down unit prices.
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Premium Standard Coffee Machines Important in Western Europe
SMALL APPLIANCES
The future of coffee machines is not just about pods.
The total value of standard coffee machines in Western Europe is significantly higher than in North America, due to the popularity of premium espresso coffee machines.
© Euromonitor International
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Coffee Machines: Global Brand Leaders by Region in 2013
SMALL APPLIANCES
WHAT IS PASSPORT
NEW INSIGHTS IN GLOBAL CONSUMER APPLIANCES
MAJOR APPLIANCES
SMALL APPLIANCES
PASSPORT: CONSUMER APPLIANCE DATA UPDATE
FOR 2014
© Euromonitor International
29
Fryers will now be broken into “Deep Fat Fryers” and “Light Fryers”.
Market sizes and shares will be researched at the lowest level and summed up to “Fryers”.
New Breakdown: Fryers
PASSPORT: CONSUMER APPLIANCE DATABASE UPDATES
Deep Fat Fryers Traditional full fat fryers, which fry food by immersing it in hot fat or oil.
Light FryersThey use a new technology that claims to obtain a similar result using just a tiny amount of oil.
© Euromonitor International
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Standard Coffee Machines will now be broken down into Espresso Coffee Machines, Filter Coffee Machines, and Other Standard Coffee Machines.
Volume shares will continue to be conducted at Standard Coffee Machines level.
No changes within pod coffee machines.
New Breakdown: Coffee Machines
PASSPORT: CONSUMER APPLIANCE DATABASE UPDATES
Espresso Coffee MachineFilter Coffee Machine Other Standard
Coffee Machines
(Combination)
Other Standard
Coffee
Machines(Percolators)
© Euromonitor International
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Other Vacuum Cleaners will now be renamed Steam Vacuum Cleaners.
Category Name Change: Steam Vacuum Cleaners
PASSPORT: CONSUMER APPLIANCE DATABASE UPDATES
© Euromonitor International
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Distribution changes
PASSPORT: CONSUMER APPLIANCE DATABASE UPDATES
2013 2014
Value
© Euromonitor International
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