Abstract: Due to the slow recovery of the global consumer market and the gradual decline in demand for stay-at-home economy, product upgrading and innovation will be the driving force for the future growth of home appliance exports.

In 2023, China's exports of home appliances (white goods) will once again exceed the 100 billion mark. Zhou Nan, secretary-general of the Home Appliances Branch of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, predicts that the scale of home appliance exports in 2024 is expected to be the same as in 2023 or have a slight increase. As the global consumer market recovers slowly and demand from the stay-at-home economy gradually declines, product upgrading and innovation will be the driving force behind the future growth of home appliance exports.

Exports from emerging markets are stable and improving

In 2023, China's exports of home appliances (white goods) to the Middle East market, Africa and Latin America among the "Belt and Road" co-building countries will maintain a good growth trend, and the export value to developed regions such as North America, the European Union and Oceania will still decline. trend.

In terms of traditional markets, Asia will still be the largest export market for China's home appliance (white goods) products in 2023. Judging from China's export data of home appliances (white goods) in the first 11 months of 2023, China's exports of home appliances (white goods) to Japan performed poorly, while exports to markets such as Central Asia and the Middle East were stable and improving; in Europe Driven by the gradual recovery of market demand, the growth rate of China's exports of home appliances (white goods) has turned from negative to positive to 3.4%, a sharp increase compared with the same period in 2022; affected by factors such as the continuation of trade protection measures and high inventories, China The cumulative export value of home appliances (white goods) to the North American market fell by 10.7%, continuing the downward trend in 2022.

In terms of emerging markets, in 2023, China’s exports of home appliances (white goods) to countries participating in the “Belt and Road” initiative will remain stable and improve. "Benefiting from the long-term and stable economic and trade relations between China and the region, as well as the low base in 2022 and other factors, China's exports of home appliances (white goods) to the Middle East, Africa and Latin America will continue to grow rapidly in 2023." Zhou Nan said.

Export volume of various products maintains growth

From the perspective of classified products, since 2023, the export volume of various products such as major appliances, environment, lifestyle products and personal care products has shown a growth trend. Among them, the export volume of washing machines, electric water heaters and other products has maintained a growth trend. In the first 11 months of 2023, the export performance of the six major appliance categories monitored by the China Chamber of Commerce for Machinery and Electronics was generally good: the volume of major appliances, household appliances, small kitchen appliances, and personal care products all increased. Among them, the export volume of major appliances and personal care products increased. The average growth rate is above 15%; kitchen and bathroom appliances continued to decline in volume and volume in the first three quarters of 2023, but the decline in export volume narrowed to 8.1% year-on-year; exports of environmental and home appliance parts were affected by factors such as the decline in average product prices. The performance volume decreases and the price increases.

"Overseas inventories are gradually reduced, sea freight rates continue to fall, and the impact of factors such as the El Niño climate phenomenon and the low base effect in 2022 has led to an increase in China's exports of major home appliances since 2023. Among them, the exports of air conditioners, refrigerators, freezers, and washing machines have all increased. It’s showing a growing trend,” Zhou Nan said. According to statistics from the China Chamber of Commerce for Machinery and Electronics, in the first 11 months of 2023, the export volume of air conditioners was 61.32 million units, a year-on-year increase of 7.3%, the export volume of refrigerators was 46.93 million units, a year-on-year increase of 21.7%, and the export volume of freezers was 19.42 million units, a year-on-year increase of 8.7%. , the export volume of washing machines was 26.45 million units, a year-on-year increase of 40.6%.

The export trend of environmental home appliances will gradually pick up in 2023, and the export volume will overcome the sluggish trend in 2022. Among them, the export scale of humidifiers and water purifiers will gradually expand. The export volume of these two categories of products will be achieved in the first 11 months of 2023. A year-on-year double-digit growth. "Affected by factors such as the fall in energy prices in Europe and the decline in demand for heating products, the export volume of heaters, which was once in demand in 2022, will decline in 2023." Zhou Nan said.

Under the influence of new consumer demand concepts such as green and health, the technology of household appliances has continued to innovate and iterate, promoting the steady progress of exports of innovative products in household appliances. Compared with 2022, China's exports of vacuum cleaners, hand dryers and dry cleaning machines have accelerated their recovery since 2023, and export volumes have shown a positive growth trend.

As the overall demand in overseas markets gradually recovers, exports of most small kitchen appliances will pick up in 2023, and exports of juicers, electric stoves and other products will resume growth. Taking the data for the first 11 months of 2023 as an example, the export volume of coffee pots was 86.88 million units, a year-on-year increase of 2.0%; the export volume of blenders was 230 million units, a year-on-year increase of 18.3%; the export volume of juicers was 45.2 million units, a year-on-year increase of 2.0%. An increase of 43.9%; the export volume of microwave ovens was 60.11 million units, a year-on-year increase of 7.7%; the export volume of electric ovens was 28.58 million units, a year-on-year increase of 18.2%; the export volume of water dispensers was 9.91 million units, a year-on-year increase of 21.3%; the export volume of electric stoves was 1.97 billion units, a year-on-year increase of 17.7%.

In addition, exports of care products and ironing products, which were sluggish during the epidemic, have picked up after the epidemic. Since 2023, the export volume of electric clippers and razors has achieved steady growth. Monitoring data from the China Chamber of Commerce for Machinery and Electronics shows that in the first 11 months of 2023, the export volume of electric clippers increased by 21.2% year-on-year, the export volume of other hairdressing appliances increased by 10.2% year-on-year, the export volume of hair dryers increased by 10.6% year-on-year, and the export volume of razors increased by 22.7% year-on-year. %.

Content source: International Business Daily