China’s domestic refrigeration market is a big customer of the polyurethane industry. Jane Ho, takes a snapshot of the market
China is an important manufacturing base for refrigerators, but is facing challenges.
According to the country’s National Bureau of Statistics, China produced 106m household refrigerators, including freezers, in 2014, down by 7% compared to 2013. The country’s production of refrigerators slowed down in 2012; picked up in 2013, and dropped again in 2014.
|China’s production volume of household refrigerators|
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The recovery of the economy in the US and other developed countries is expected to provide a powerful impetus to China’s export drive, and almost all of the major players in China are tapping the e-commerce channel to maintain their footholds in the domestic market.
Qingdao Haier continues to lead the market in 2014 with an RMB24.7bn refrigerator revenue. Its refrigerator business is ranked the first in China’s domestic market in retail volume with a 23.6% share, and also has the largest share in the global market.
Companies in the same group include Hisense Kelon Electrical Holdings with an RMB9.8bn revenue for refrigerators in 2014, Midea Group with an Rmb9.7bn refrigerator…