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The semi-annual report has come to an end, and the transcripts of major air-conditioner manufacturing listed companies have received much attention from the market. However, after experiencing high growth in 2018, the competition among brands has become more intense, especially the impact of large brand camps on small and medium-sized brands.
In the first-line brand camp, in the air-conditioning offline market in the first half of this year, the top three market share rankings were Gree, Midea and Haier, while the market share gap between the top two was not far, and the competition entered a fever.
From the current market situation, the demand release is slow, the whole industry falls into the downward channel, facing huge inventory digesting pressure, "new" may have become an important driving force for air-conditioning sales. With the new energy efficiency standards for air conditioners entering the threshold for further improvement, the air-conditioning industry will usher in the development of technology-based research and development.
Internet brand "spoiler" channel to increase inventory pressure
Under the pressure of falling amounts of money, the competition between brands in the 2019 cold year is more intense. In particular, the leading brand camp has obvious crowding effect on small and medium-sized brands. Compared with the 2018 cold year, the market share of first-line camp brands has increased by 1.93 percentage points. 82.37%; at the same time, the first-line camp continued to lead the domestic air-conditioning market trend, and also reflected the main theme of the technology trend.
In the cold year of 2019, the average retail price of air-conditioning products declined relatively. On the one hand, there was pressure to de-channel inventory. At the same time, there were noisy factors such as the decline in raw material prices, the improvement in product structure optimization, and the positive factors such as national tax reduction and fee reduction. Conducive to enterprises to transfer price space to consumers. It is estimated that the high probability of air conditioner prices in the second half of the year will be in the down channel.
The de-stocking pressure of the air-conditioning industry this year is the foreshadowing of the high growth of 2018.
In July 2018, after experiencing a three-year high growth, the domestic air-conditioning industry turned sharply; the change of wind direction laid the foundation for the 2019 cold year to a certain extent - the market is sluggish and competition is intensifying. From the opening to the end, the development of the air-conditioning industry over the past year also supported the expectations.
At the same time, a group of cross-border Internet and channel brands have joined the battle group, relying on cost-effective advantages to erode the market share of the second camp brand and the long tail brand. Although they are small, they are “fierce”. The rapid development has produced a squid effect that disturbs the traditional market. Under pressure, price competition has gradually penetrated into every segment of the market, and low-end air conditioner prices have been pushed closer to the cost line.
According to the national information center monitoring and total data, the domestic retail market in the 2019 cold year achieved 60.56 million sets, the sales volume decreased by 7.59%, and the sales decreased by 9.95%. Director Cai Ying of the National Information Center Industry Expert believes that this situation has been caused by two reasons. First, the three-year continuous growth has created a high market base, and the growth rate has become inevitable. First, the domestic air-conditioning possession has reached a new high. The market is basically saturated. Although the rural market has an increase, it is difficult to support the entire market. In the case of a downturn in the real estate market and a serious low-end homogenization of products, the incremental basis is not stable.
First-line faucet strategic adjustment
According to statistics, in the air-conditioning offline market in the first half of this year, the top three market share rankings were Gree, Midea and Haier, accounting for 36.4%, 28.2%, and 10.4%, respectively. From this share, it can be seen that Gree and Midea are higher than other competitors, and the market share gap between the two is not far.
It is worth noting that in terms of the increase or decrease in retail sales, according to industry statistics, the United States increased by 2.9%, while Gree decreased by 2.4%. These two figures are just the first and last place in the increase and decrease of the top ten brands in the air-conditioning market in the first half of the year.
At the same time, in the average price of products, the data shows that in the first half of the year, the average price of the entire air-conditioning industry showed a downward trend, a decline of 1.1%, of which the average price of the United States fell by 5.1%, and the average price of all air-conditioning products was 3712. yuan. However, the average price of Gree air conditioners rose, with a 4.9% increase, and the average price of all air conditioners was 4,653 yuan.
In the online market in the first half of this year, it is understood that the top three are Midea, Oaks and Gree. The market share is 29.52%, 27.51%, 18.53%, respectively, up 6.95% year on year, up 0.71%, down 3.48. %, in the average price of products, the United States fell 218 yuan to 2917 yuan, Oaks fell 43 yuan to 2687 yuan, Gree increased 103 yuan to 3976 yuan.
The survival of the fittest brought about by changes in energy efficiency standards
The offline price adjustment is behind the common dilemma of the industry with high inventory. The layout of the new cold years, placed in front of the manufacturers two major problems is that on the one hand, the high inventory of the industry has sounded the alarm, on the other hand, the slowdown in real estate growth has curbed the new demand for air-conditioning, the urban market has entered a period of renewal, demand release Slow, the whole industry fell into the downward channel, facing huge inventory digesting pressure.
From the current market situation, the growth rate is declining, and the new one is an important driving force for the sales of air conditioners. It is predicted that the overall decline of the industry in the 2019 cold year is very likely to be around 10%. From the inventory point of view, the annual inventory of the air-conditioning industry in the 2019 cold year will initially stand at 50 million points, and the new energy efficiency standards implemented at the end of the year will undoubtedly further increase inventory.
It is understood that the framework and content of the new standard for air-conditioning energy efficiency in late May have been basically approved and will be officially promulgated by the end of this year. Compared with the existing energy efficiency indicators, the new energy efficiency standard* is characterized by the uniform use of APF standards for fixed-frequency and inverter air conditioners, and assessment on a unified platform.
It is worth mentioning that if the new standard is implemented, the current first-class energy efficiency standard for fixed-frequency air conditioners will be reduced to the new standard level 4, and the secondary energy efficiency standards for fixed-frequency air conditioners will be reduced to the level 5 entry level, all of which are new. Non-energy-saving products under the standard. And because the fixed speed air conditioner was confirmed as a low energy efficiency product, it was initially divided into two steps, and the fixed speed air conditioner was completely eliminated on January 1, 2022.
As the new energy efficiency standards for air conditioners enter the threshold again, this will mean that a large number of air conditioners that do not meet the energy efficiency requirements are facing the fate of delisting, and manufacturers are likely to cut prices to deal with these non-energy-saving products. Since the first-level energy efficiency level of the existing inverter air conditioner is the second-level energy efficiency level under the new standard, the existing variable-level secondary energy efficiency level is the third-level energy efficiency level under the new standard. By analogy, the existing mainstream inverter three-level energy-efficient air conditioners on the market will be listed as the new energy-efficient level 4 energy efficiency level, that is, non-energy-saving air conditioners.
Jiangsu Jincheng Air Conditioning Engineering Co., Ltd. focuses on:
Industrial air conditioners, chemical fiber industrial air conditioners, chemical fiber industry refrigeration, textile industry air conditioners, clean room refrigeration, ventilation ducts, cooling towers, refrigeration machines and other air conditioning units and accessories.
