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In 2022, against the background of insufficient demand caused by poor external environment, the global and Chinese air conditioning market will move forward with resilience. According to the 2022 Global Home Air Conditioning Market Annual Summary Report released by AVC, the global home air conditioning market sold 164 million units in 2022, down 3.6% year-on-year. In 2022, the size of the global and Chinese air conditioning market will be basically stable, and the quality of enterprise operation will be greatly improved. The development of the industry will be transformed from scale driven to high-quality development.
Looking ahead to 2023, the domestic market strong recovery is worth looking forward to. China's domestic market is expected to ship 83.22 million units in 2023, up 3.7 percent year on year, according to Aowei Cloud. The scale of omni-channel retail sales is expected to be 58.97 million units, up 3.2% year-on-year, and the scale of retail sales is expected to be 205.7 billion yuan, up 4.5% year-on-year.
Export market size cyclical decline
In 2020-2021, China's home air conditioning industry achieved steady growth, driven by the export market. In 2022, under the influence of many uncertain factors in overseas markets, consumer demand for household air conditioners was inhibited. Combined with the background of high base in the same period, the driving effect of export market on the industry was weakened, and the scale showed a cyclical decline. According to data from AVC, China's domestic air conditioner exports fell 8.3 per cent year on year to 612.20 million units in 2022.
In 2022, against the backdrop of rising average price and structural improvement, China's domestic air conditioning exports increased year-on-year, achieving quality improvement. High costs, coupled with significant improvements in product mix in Asia, North America and Europe, have pushed up the average price of air conditioning exports. Statistics show that China's exports of home air conditioners in 2022 reached 12.99 billion dollars, up 4.2 percent year on year.
By region, the African market bucked the trend of growth in 2022 due to low penetration, large population and high climate conditions. Exports rose 10.9 percent year on year to 3.81 million units, and exports reached 720 million dollars, up 11.7 percent year on year.
In 2022, the export volume of the European market decreased by 5.9% year on year, but the volume of export volume increased by 12.4% year on year, with obvious improvement in quality. In the long run, the European market has huge potential. According to the analysis of the public power Division of Aowei Cloud Network, the penetration rate of air conditioning products in Europe is very low, only about 6%, in the past due to the influence of the short duration of hot weather, high installation cost, complex process and other factors. Stimulated by the local temperature rise in the past two years and the accumulated consumption education, European residents' cognition and habits of air conditioning consumption have finally changed. In the long run, the potential of the European market cannot be underestimated.
Domestic market product price repair
The development of domestic air conditioning market in 2022 will be full of ups and downs. In the first half of this year, affected by weak real estate sales, repeated epidemics in local areas and other factors, residents' consumption demand and willingness for home appliances were obviously insufficient. The air conditioning market is more due to the continuous rain in South China and other core areas caused by the release of demand seriously hindered, the market was once very pessimistic; After entering the second half of the year, with the continuous high temperature in July and August, a wave of consumer demand was released together with the policy stimulus of "promoting consumption", "supporting the delivery of green household appliances to rural areas, and exchanging old appliances for new ones", and the air conditioning market scale increased significantly.
Overall, compared with the continuous downward trend of the overall household appliance industry, the domestic air conditioning market has shown strong market resilience. According to total data released by AVC, the retail volume of all channels in 2022 was 57.14 million units, down 3.3% year-on-year, including 30.47 million units online, up 1.0% year-on-year, and 26.66 million units offline, down 7.7% year-on-year. The retail sales of all channels reached 19.69 billion yuan, a slight increase of 0.4% compared with the same period last year, among which, online 92.6 billion yuan, a year-on-year increase of 4.4%, offline 104.3 billion yuan, a year-on-year decline of 2.8%.
Under the cost pressure, enterprises raise prices and improve the structure as the core to achieve price repair. Raw material costs remained high throughout the first half of 2022, putting pressure on companies to raise prices even in the face of weak demand. According to the monitoring data of AVC, the average price of air conditioning retail market online and offline increased by more than 15% in February. On the other hand, enterprises also focus on the improvement of structure through product upgrading and innovation: the permeability of 2-horse hanging machine, fresh air conditioning, intelligent voice air conditioning and so on has increased significantly, and the proportion of high-end hanging machine has increased significantly.
The domestic market will welcome definite growth
Aowei cloud Network power business division forecast, after three years of continuous decline, 2023 air conditioning domestic market scale will usher in a definite growth.
First of all, with the strengthening of national macro-control, the real estate industry continues to release good news. Air conditioning and the real estate market is highly related, in the real estate recovery in 2023, there is a high probability of stable growth of new demand plate.
Secondly, driven by low inventory and high expectations, channel replenishment has sufficient impetus. Air conditioning inventories in 2022 are at their lowest level in a decade after a combination of high costs and sluggish demand. After structural shortages in July and August 2022, the logic of corporate safety stocks is being restructured. In addition, air conditioning as the most profitable single product, in the face of positive market conditions, the channel replenishment power is sufficient.
In addition, companies are confident about the future of the market. Since February this year, product promotions mainly in the form of Midea Air Conditioning Fire March, Haier Health air conditioning, Gree Electric Spring Thunder Action, Oox air conditioning Aofang Festival and Hisense Air conditioning Door Opening have started in advance. Product launches with functional integration, comfortable new style, intelligent voice and other selling points come one after another; Breakthroughs in the scene represented by home products and kitchen air conditioners continue. All of these actions show the confidence of the market and the ambition to make a performance in 2023.
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