Qian Zhan Wang·2025-07-25 04:32Core Insights - The Chinese refrigerator industry is projected to reach a market size of approximately 160 billion yuan in 2024, with a compound annual growth rate (CAGR) of 4.37% over the past five years [1] - China leads the world in both refrigerator production and export volume, with Haier maintaining the top global sales position for 17 consecutive years [1] Market Trends - The average retail price of refrigerators in China is expected to exceed 3,670 yuan per unit in 2024, driven by rising prices of raw materials, increased adoption of high-end products, and the integration of smart technologies [2] - The market is witnessing a growing share of high-end and built-in refrigerators, contributing to the overall price increase [2] Competitive Landscape - The domestic refrigerator market features numerous leading manufacturers, including Haier, Midea, and Rongsheng, with specific strategic initiatives outlined as follows [3]: - Haier: Continues to lead in global retail volume, plans to launch an AI-powered refrigerator in 2025, and has received design awards for its innovative preservation technology [5] - Midea: Reports a 45% year-on-year increase in retail sales for its high-end brand COLMO, with a focus on smart and energy-efficient technologies [5] - Rongsheng: A core brand under Hisense, plans to introduce a new series of preservation refrigerators in 2025, emphasizing energy-saving and advanced preservation features [5] - Other Brands: Companies like Meiling and Eason Ping are also expanding their market presence with innovative products and significant growth in overseas sales [5]