The integrated stove is based on the principle of micro-aerodynamics, and uses the lower exhaust air to generate a fluid negative pressure zone, so as to achieve the effect of sending off the oil fume. The oil smoke absorption rate of the integrated stove can reach over 95%.
The integrated stove is a relatively complete kitchen electrical product, which aims to solve the problem that the traditional range hood can not completely eliminate the oil fume, thereby improving the kitchen product environment, especially for the Chinese restaurant with strong oil fire. The integrated stove cleverly combines the hood, stove, disinfection cabinet, storage cabinet. With the continuous improvement of people's living standards and the continuous pursuit of a healthy life, integrated stoves are expected to become the mainstream of kitchen decoration in the future, and a kitchen appliance revolution without gunpowder smoke has begun.
The Integrated Stove Market Is Growing Rapidly, But the Market Penetration Rate Still Has Room for Growth
China's integrated stove market is growing rapidly. Data shows that the retail volume of integrated stoves in China has increased from 901,000 units in 2016 to 2.38 million units in 2020, an increase of 13.3% year-on-year in 2020; in terms of retail sales, the retail sales of integrated stoves in China will increase from 4.88 billion yuan in 2015 to 2020 The annual compound growth rate reached 18.22 billion yuan, with a compound annual growth rate of 34.98%. It is the third kitchen appliance industry with a scale of over 10 billion yuan, and the industry is showing a rapid upward trend. It is expected that the overall retail sales of the integrated stove market will reach 22 billion yuan in 2021.
The integrated stove has achieved many technological upgrades driven by science and technology. After years of development, the public has become more and more aware of the integrated stove. With the increase in national income and health awareness, especially after the epidemic, people pay more attention to the home environment, and the requirements for kitchen appliances are getting higher and higher, and the integrated stove market is ushering in growth opportunities.
Increasing in Residents' Income Level and Health Awareness Drives the Retention Rate of Kitchen Appliances
With the rapid development of China's social economy, the gradual increase in per capita disposable income directly promotes the people's willingness to consume and purchasing power, and the purchase of kitchenware can also be reflected in it, which effectively increases the retention rate of kitchenware. Public data shows that from 2013 to 2020, the national per capita disposable income of residents increased from 18,311 yuan to 32,189 yuan, and the number of range hoods per 100 households in the country increased from 42.5 to 59.3. It can be seen that the increase in income level effectively promotes the growth of the kitchenware market.
The retention rate of kitchen utensils is affected by residents' health awareness. With the increase of residents' health awareness, more and more consumers are pursuing a healthier life. Relevant research data shows that 92% of consumers pay special attention to health functions when buying home appliances, and the focus of their health functions is mainly on healthy eating and air health. Kitchen appliances such as range hoods can effectively absorb kitchen fumes and are recognized by more and more consumers.
Kitchen Scene Is Tough, And The Sinking Market Has a Lot of Space
At this stage, the inventory of kitchen appliances in China is relatively low. Similar to refrigerators and washing machines, range hoods also have the attribute of one household, but from the perspective of the ownership of each of the three, range hoods are clearly a disadvantage, and there is still a huge gap between range hoods and white appliances. Public data shows that at the end of 2019, the number of range hoods per 100 households of urban and rural residents in China were 81.7 and 29, respectively, which was lower than the data for washing machines, refrigerators and air conditioners in the same period. From the perspective of inventory, China's range hood market, especially the sinking market, has a lot of room for development.
The kitchen appliance market is resilient. In recent years, China's home appliance market has experienced a period of rapid popularity and a period of stock upgrades, and has now formed a certain volume. In 2020, due to the impact of the new crown pneumonia epidemic, the sales of home appliances in China dropped by 11.3% year-on-year. The overall trend of the retail sales of smoke stove products was basically the same as that of the home appliance market. However, the decline of smoke stove products was lower than that of the home appliance market. Among them, the embedded kitchen electrical appliances have achieved growth against the trend.
The Real Estate Industry Promotes New Demands in the Kitchen Appliance Market
The home appliance industry is in the post-real estate cycle and has a strong correlation with the real estate industry. The development of the real estate industry has effectively driven the growth of the home appliance industry. In the new stage, the overall prosperity of the real estate industry has rebounded, and the area of construction and sales has increased year-on-year. Public data shows that in 2020, the monthly year-on-year decline of the newly started area of commercial residential housing continues to narrow, and the year-on-year decline is 1.87%. It is expected to continue the trend of restoration in 2021. From January to February this year, the growth rate of the sales area of commercial housing and residential housing rebounded to 104.9%, a considerable increase, which will effectively stimulate new demand in the kitchen appliance market.
Consumer Groups Are Younger, And Emerging Kitchen Categories Are Growing Rapidly
With the younger generation of mainstream consumer groups, emerging kitchen products are ushering in a window of growth, especially the dishwasher market, which has shown exponential growth for two consecutive years. In 2020, due to the impact of the new crown pneumonia epidemic, the retail sales and retail sales of most traditional products have declined significantly. For example, the retail sales and retail sales of air conditioners fell by 21.9% and 14.8% year-on-year; while products such as washing machines, micro steam ovens, and integrated stoves showed signs of decline. With a dazzling growth trend, the retail sales of integrated stoves in 2020 will be 18.2 billion yuan and 23.8 billion yuan, an increase of 12.5% and 13.3% year-on-year.
We provide more professional and intelligent market reports to complement your business decisions.