Home appliance makers accelerate innovation in green and smart technologies

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Among consumers' expenditure, 22.7% was used for housing-related consumption, second only to food, tobacco and alcohol. Health consciousness stimulates consumers' demand for healthy home appliances, and the increase in disposable income provides strong economic support for the purchase of healthy home appliances. Together, these two factors constitute the main driving force for the expansion of the healthy home appliance market.

According to Aowei Cloud Network data, since the scale of the home appliance retail market in my country exceeded 800 billion in 2017, the growth rate has gradually slowed down, fluctuating between 6.2% and -9.5%, and retail sales have not yet exceeded the 900 billion threshold. Most traditional home appliance categories have become saturated: According to GfK Zhongyikang calculations, the rapid development of the home appliance market in the past has led to a continuous increase in the denmark number data penetration rate of most traditional categories. In 2022, the ownership of major home appliances such as air conditioners, color TVs and refrigerators reached 3.12 billion units. The slowdown in the market growth rate and the high ownership rate indicate that the home appliance market in my country is gradually shifting from incremental competition to share competition.

Facing increasingly intense competition in the market, large home appliance manufacturers have keenly realized that changes in consumer concepts and the rise of healthy lifestyles have made healthy home appliance categories an expected new growth point in the home appliance industry. Updating products and replacing old models based on consumers' health needs has become the key for manufacturers to break through. Various home appliance companies have gradually increased their investment in technology R&D, focusing on healthy functions, improving the environmental performance and intelligence level of home appliances, and enriching the supply of healthy home appliances full of technology. Among them, there are many overseas leading groups such as Panasonic, as well as old home appliance companies such as Haier and Joyoung, and new players such as Ecovacs and Tineco.