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2022-08-10
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家用电器家用电器/小家电小家电 请务必参阅正文后面的信息披露和法律声明 1/23 富佳股份富佳股份(603219.SH)2022 年 08 月 09 日 投资评级:投资评级:买入买入(首次首次)日期 .
2022-08-10
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1 本报告版权属于安信证券股份有限公司。本报告版权属于安信证券股份有限公司。各项声明请参见报告尾页。各项声明请参见报告尾页。空气能:空气能:短暂爆发的需求,还是长期短暂爆发的需求,还是长期拓拓宽宽的.
2022-08-09
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-1-敬请参阅最后一页特别声明 本报告的主要看点本报告的主要看点:1.系统梳理家电主要企业光伏业务的布局和进展。2.探讨不同细分行业进军光伏业务的原因。谢丽媛谢丽媛 分析师分析师 SAC 执业编号:执.
2022-08-09
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Major Appliances Report 2022Statista Consumer Market OutlookApril 202201020304Overview Market definition Market overview Segment overview Revenue share by subsegmentRegional overview Worldwide comparison KPI comparison Top countries by regionConsumer insights Analyst opinion Sales channels Top eCommerce storesAppendix Methodology Product overview Author2Agenda3Sources:Statista Consumer Market Outlook 2022Refrigerators and Cookers&Ovens are an essential part of the Major Appliances segmentMarket definition Major Appliances or white goods contains refrigerators,freezers,dishwashing machines,washing machines,cookers,and ovens.Consumers electronics and appliances for professional usage are not included in this segment.Out of scope Dryers Heating appliances Air conditioners Tankless water heaters Water heatersIn scope Refrigerators Freezers Diswashing machines and washing machines Washing machines Cookers and ovens4Key takeawaysIn 2021,the Household Appliances market generated a total revenue of US$640.1 billion worldwide.At 60%,Major Appliances was the largest segment of the Household Appliances market with US$383.9 billion in revenues in 2021.Market overviewWorldwide revenue share in 20211:CAGR:Compound Annual Growth Rate/average growth rate per yearSources:Statista Consumer Market Outlook 2022Worldwide Household Appliances revenue in billion US$The Major Appliances segment accounted for 60%of the Household Appliances market revenue in 2021628.6655.0681.6714.3749.0784.72027202620242022202320254.50%Major AppliancesSmall AppliancesIn 2021,worldwide Major Appliances sales amounted to US$383.9 billion51:CAGR:Compound Annual Growth Rate/average growth rate per yearSources:Statista Consumer Market Outlook 2022Key takeaways The worldwide Major Appliances revenue will increase at a CAGR1of 3.2%from 2014 to 2027,while Major Appliances volume sales will grow annually by 2.2%in this period.Segment overview(1/2)Worldwide revenue in billion US$RevenueUS$383.9bnin 2021 3.2GR120142027Volume sales0.8bn piecesin 2021 2.2GR120142027315.1302.4302.4317.8 326.8335.2359.1383.9 385.3399.9414.3433.8454.6475.82018201420162020202420222026 3.2%1Worldwide volume sales in billion piecesSegment overview(2/2)In the Major Appliances segment,volume salesreached 0.8bn pieces in 20211:CAGR:Compound Annual Growth Rate/average growth rate per yearSources:Statista Consumer Market Outlook 202260.630.640.660.670.680.700.750.780.760.770.780.800.810.83202020142025201520162018201720192021202220232024202620272.2%1Worldwide revenue in billion US$Revenue share by subsegmentRefrigerators generates the highest revenue in the Major Appliances segment15%53 2114%53( 27383.9475.8 3.6%1RefrigeratorsCookers&OvensFreezersDishwashing MachinesWashing Machines1:CAGR:Compound Annual Growth Rate/average growth rate per yearSources:Statista Consumer Market Outlook 2022701020304Overview Market definition Market overview Segment overview Revenue share by subsegmentRegional overview Worldwide comparison KPI comparison Top countries by regionConsumer insights Analyst opinion Sales channels Top eCommerce storesAppendix Methodology Product overview Author8Agenda91:CAGR:Compound Annual Growth Rate/average growth rate per year from 2014 to 2027Sources:Statista Consumer Market Outlook 202220142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total94.280.479.584.487.988.196.5104.999.9103.2106.8110.9115.2119.61.9%Major Appliances48.542.041.744.546.146.848.951.152.053.755.657.659.962.11.9 142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total78.667.366.771.174.274.681.889.184.887.790.794.197.8101.52.0%Major Appliances40.535.235.037.538.939.641.543.444.145.647.248.950.852.72.0%Share of total market(in%)51.552.352.552.852.553.150.748.752.052.052.052.052.051.90.1%KPI comparison Europe(1/2)Major Appliances sales in Europe will increase at a CAGR1of 2.0%from 2014 to 2027Revenue in billion US$Revenue per capita in US$Germany7.1United Kingdom5.3France5.1Russia4.2Italy3.510Revenue ranking in billion US$in 2021KPI comparison Europe(2/2)Revenue per capita ranking in US$in 2021Sources:Statista Consumer Market Outlook 2022In Europe,Germany was the country with the highestrevenue in the Major Appliances segmentUS$141US$9Out of scope111:CAGR:Compound Annual Growth Rate/average growth rate per year from 2014 to 2027Sources:Statista Consumer Market Outlook 2022KPI comparison Americas(1/2)Major Appliances sales in the Americas will increase at a CAGR1of 1.5%from 2014 to 202720142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total115.4106.2105.4112.8111.4112.0117.1123.6116.1119.1122.4126.5130.5134.71.2%Major Appliances67.061.160.364.763.163.263.965.564.565.667.069.171.073.10.7 142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total108.2100.5100.7108.7108.4110.0115.9123.3116.7120.5124.7129.8134.7139.92.0%Major Appliances62.857.857.662.461.462.063.265.464.866.468.370.873.375.91.5%Share of total market(in%)58.057.557.257.456.656.454.653.055.555.154.754.654.454.3-0.5%Revenue per capita in US$Revenue in billion US$12Revenue ranking in billion US$in 2021KPI comparison Americas(2/2)Revenue per capita ranking in US$in 2021Sources:Statista Consumer Market Outlook 2022In the Americas,the U.S.was the country with thehighest revenue in the Major Appliances segmentUnited States21.8Brazil15.1Mexico9.4Canada2.7Argentina2.5US$114US$25Out of scope131:CAGR:Compound Annual Growth Rate/average growth rate per year from 2014 to 2027Sources:Statista Consumer Market Outlook 2022KPI comparison Asia(1/2)Major Appliances sales in Asia will increase at a CAGR1of 3.3%from 2014 to 202720142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total62.962.362.264.165.867.272.076.575.778.080.182.885.688.52.7%Major Appliances41.140.740.541.642.643.446.449.248.950.251.353.054.856.52.5 142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total263.2263.6265.5276.1286.0294.4318.2340.9340.0352.7364.7379.6395.0410.83.5%Major Appliances172.3172.0172.7179.1185.1190.1205.0219.3219.7227.1233.8243.1252.6262.43.3%Share of total market(in%)65.565.365.064.964.764.664.464.364.664.464.164.064.063.9-0.2%Revenue per capita in US$Revenue in billion US$14Revenue ranking in billion US$in 2021KPI comparison Asia(2/2)Revenue per capita ranking in US$in 2021Sources:Statista Consumer Market Outlook 2022In Asia,China was the country with the highestrevenue in the Major Appliances segmentChina94.3India46.1Indonesia12.3Japan11.8Iran8.2US$109US$10Out of scope151:CAGR:Compound Annual Growth Rate/average growth rate per year from 2014 to 2027Sources:Statista Consumer Market Outlook 202220142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total55.653.152.855.359.362.871.580.981.588.395.4104.6115.0125.76.5%Major Appliances36.734.934.636.138.740.846.452.453.357.461.567.474.080.86.3%Share of total market(in%)66.065.865.565.365.265.064.964.865.465.064.564.464.464.3-0.2%KPI comparison Africa(1/2)Major Appliances sales in Africa will increase at a CAGR1of 6.3%from 2014 to 202720142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total55.151.349.750.853.254.961.167.466.470.374.279.585.591.54.0%Major Appliances36.433.732.633.234.635.739.643.743.445.747.851.255.058.83.8%Revenue per capita in US$Revenue in billion US$16Revenue ranking in billion US$in 2021KPI comparison Africa(2/2)Revenue per capita ranking in US$in 2021Sources:Statista Consumer Market Outlook 2022In Africa,Nigeria was the country with the highestrevenue in the Major Appliances segmentNigeria14.2Egypt4.7Ethiopia3.8South Africa2.9Tanzania2.4US$106US$24Out of scope171:CAGR:Compound Annual Growth Rate/average growth rate per year from 2014 to 2027Sources:Statista Consumer Market Outlook 202220142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total4.84.24.34.64.74.55.05.95.65.86.06.26.56.82.6%Major Appliances2.92.52.52.72.72.72.93.53.43.43.53.63.83.92.5%Share of total market(in%)59.259.159.058.958.858.758.658.659.358.958.458.458.458.4-0.1%KPI comparison Australia&Oceania(1/2)Major Appliances sales in Australia&Oceania will increase at a CAGR1of 2.5%from 2014 to 202720142015201620172018201920202021202220232024202520262027CAGR1Household Appliances total130.3111.8112.3118.6118.8113.9124.0145.1137.2139.6141.9146.0150.6155.21.4%Major Appliances77.166.166.269.869.866.972.785.081.482.283.085.387.990.61.2%Revenue per capita in US$Revenue in billion US$Australia2.85New Zealand0.42Papua New Guinea0.15Fiji0.0318Revenue ranking in billion US$in 2021KPI comparison Australia&Oceania(2/2)Revenue per capita ranking in US$in 2021Sources:Statista Consumer Market Outlook 2022In Australia&Oceania,Australia was the country withthe highest revenue in the Major Appliances segmentUS$111US$17Out of scope19Top countries by region1:Bar heights may vary due to rounded figuresSources:Statista Consumer Market Outlook 2022In Nigeria,the Major Appliances segment will grow by 101.3%from 2021 to 20277.17.820272021 10.3!.824.320272021 11.4.3110.420212027 17.0%2.93.220212027 10.6.228.520212027 101.3%AustraliaNigeriaChinaUnited StatesGermanyRevenue in the top countries in billion US$1EuropeAmericasAsiaAfricaAustralia&Oceania01020304Overview Market definition Market overview Segment overview Revenue share by subsegmentRegional overview Worldwide comparison KPI comparison Top countries by regionConsumer insights Analyst opinion Sales channels Top eCommerce storesAppendix Methodology Product overview Author20Agenda21TrendsThe global increase in disposable incomes and the emergence of the aspirational middle class,especially in countries like India and China have exhibited a robust growth in the Major Appliances market.The rapid urbanization in East Asia and the strong supply chain logistics have strengthened the growth.Technology advancements in terms of smart appliances and the growing need for energy conservation augur well for future growth,especially in the developed markets.Analyst opinionSources:Statista Consumer Market Outlook 2022Recommended studies&reportsHaier GroupHome/household appliancesCooking appliances&equipmentHousehold Appliances ReportHousehold Appliances Report-Small AppliancesSmart appliances have emerged as a key growth driver,especially in developed markets22Household Appliances:worldwide revenue shareSales channelsSources:Statista Consumer Market Outlook 2022,Statista Digital Market Outlook 2022Online retails share of Household Appliances reached24.2%in 202118.3 .3.2#.2$.2.80.02.54.9.7y.7w.8v.8u.8r.2p.0g.5e.1 1820242017202020192021202220232025OnlineOffline23Biggest players with Furniture&Appliances as a main product category in 2020Top eCommerce stores by net salesSources:eCommerceDB.com was the worlds largest online retailer specialized in Furniture&Appliances in s global eCommerce net sales:US$16.9 s global eCommerce net sales:US$9.9 s global eCommerce net sales:US$10.9 billion01020304Overview Market definition Market overview Segment overview Revenue share by subsegmentRegional overview Worldwide comparison KPI comparison Top countries by regionConsumer insights Analyst opinion Sales channels Top eCommerce storesAppendix Methodology Product overview Author24AgendaSources:Statista Consumer Market Outlook 202225Detailed analysis of the status quo in selected core countriesWe obtain the data from the Statista Consumer Market Outlook for our 46 core economies,such as the United States,China,and Germany,through an in-depth analysis of each market.To evaluate the markets,we use the latest data from various country-specific sources and industry associations,survey results from our primary research(e.g.,the Statista Global Consumer Survey),third-party studies and reports,as well as our industry knowledge.Because of the considerable amount of information that is incorporated in the Statista Consumer Market Outlook and all the interpretation and analysis involved in the process,a detailed representation of the data sources for each data point is not possible.Market sizes are determined using a bottom-up or top-down approach based on an individual logic for each market segment.Demand-side factors,such as per-capita consumption,are linked to various performance factors,such as at-home and out-of-home consumption or average customer turnover.All markets are assessed at retail prices including country-and product-specific sales taxes and excise duties.Other sources,such as household budget surveys on national levels,complement the demand-side estimates.For detailed information regarding the methodology,please have a look at our Consumer Market Outlook Methodology.Methodology(1/3)Underlying dataMacroeconomic indicators Country-specific statistical offices and census data International organizations and associationsMarket research Consumer profiling the Statista Global Consumer Survey Exclusive representative ad hoc surveys in selected countries on specific current topics Key player analysis&monitoring Company profiles and key performance indicators Product and price monitoring News and trendsStudies&third-party data Market analyses and analyst opinions Annual reports and industry analyses Academic studiesWe use bottom-up and top-down approaches for our sizing of the markets status quoNon-core country market sizing exemplified by1the Hungarian Cosmetics market in 2018Step 1:Choose reference core country2Step 2:Compare key market indicators3PopulationConsumer spending per capitaGDP per capitaPrice level indexHuman development indexStep 3:Apply an algorithm to estimate market KPIs,using data from the core country as base and the countrys key market indicators as driversResult:Average revenue per capita26Driver-based transfer of market data to non-core countriesThe market data for non-core countries is generated using algorithmic models.To compensate for the lack of available data and to evaluate a countrys potential,we use the performance ratios of core countries with a similar infrastructure and similar development conditions as benchmark values.Then we apply an algorithm-based calculation to create market KPI estimations,using the countrys key market indicators as drivers.Over 100 driver data sets for 150 countries have been collected from a variety of sources,including the International Monetary Fund(IMF),the International Telecommunication Union(ITU),the World Bank,and many others.The data sets either include a forecast from the source or are forecast by Statista using trend analyses and prediction techniques based on historical data from 2000 to 2018.The drivers are categorized and assigned to the markets so that the top three correlating drivers can then be selected for each market segment.The chosen drivers do not only have the best mathematical fit,but they must also have an actual influence on the performance of the markets.If specific drivers are not available for one country,they can be replaced with a set of backup economic development drivers of more general nature.Methodology(2/3)1:Simplified illustration 2:Several core countries are used to get the final results 3:Further key market indicators were used in the final algorithmSources:Statista Consumer Market Outlook 2022We estimate the potential of non-core countries with the help of macroeconomic and infrastructural drivers(core country)PolandPoland(benchmark)38.1mUS$8,174US$14,75644.00.865US$14.04Hungary(non-core country)Hungary(KPI estimated)9.7mUS$7,542US$15,67944.80.838US$13.6327Economic outlook Expected impact on the general economy(GDP,consumer spending,investment,etc.)Based on current forecasts by the IMF,statistical offices,and our analystsMethodology(3/3)Directly affected markets Directly impacted by quarantine measures(e.g.,Travel&Tourism)Recession reaction modeled based on analyst assessments,benchmark forecasts,leading indicators,as well as our own surveys Revenues expected to return to long-term trend eventually Recovery scenario in V-,U-,or L-shape,depending on the market and country Time span needed to return to long-term trend:over 25 years Based on analyst assessments and available benchmark forecastsSources:Statista Consumer Market Outlook 2022Our COVID-19 forecasts build on extensive researchMarket environmentMarket shockShock dissipationPandemic outlook Lockdown:phase of general quarantine (410 weeks)Stabilization:phase of local and individual quarantines,gradual reopening of the economy(1218 months)Reconstruction:phase after vaccines and treatments have become widely available(from mid-to late 2021)Indirectly affected markets Impacted by overall economic performance rather than by pandemic-specific events and measures(e.g.,most consumer products)Recession reaction modeled by drawing on historical data(e.g.,national accounts,household budget surveys,and similar statistics)AccessoriesHome&Laundry CareAlcoholic DrinksHot DrinksApparelHousehold AppliancesConsumer ElectronicsNon-AlcoholicDrinksBeauty&Personal CareOTCPharmaceuticalsEyewearLuxury GoodsFoodTissue&Hygiene PaperFootwearTobacco ProductsFurnitureToys&Hobby428The Consumer Market Outlook presents the key performance indicators sales,revenues,and prices of the most important consumer markets worldwide.Our specialized analysts market calculations are based on data from validated sources.Revenues,volume sales,prices,and forecastsMore than 200 product categories in up to 150 countriesCovering the period 2014 to 2027Find out more on 2027)50,000 interactive statisticsAbout the Statista Consumer Market OutlookecommerceDB.com offers direct access to URL-related revenue information together with forecasts,customizable top,country,region and category rankings,KPI analyses,and extensive eCommerce-relevant contact information to over 20,000 online stores.29About the ecommerceDBThe toolbox for all eCommerce-relevant questionsTELE-MAIL 49 40 688 93 12 CONTACT USIn-depth analysis for over 20,000 online store URLsAdjustable top,category,country®ion rankingsDownload shop profiles for seamless processingDirect contact to our eCommerce analystsFind out more on Yufei HanAuthorAYufei Han studied Business Administration at the University of InternationalBusiness and Economics,Beijing,(B.A.)and at the University of Erlangen-Nrnberg(M.Sc.).He gained a comprehensive understanding of marketstructures working as a researcher for the business development departmentof Siemens Healthineers.In the Consumer Market Outlook,he is mainlyresponsible for electronics and durable goods.
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