This report looks at the following areas:
- The current market landscape for major home appliance categories
- Key factors affecting industrial development and consumer demand
- Major home appliance brand market highlights
- Ownership, purchase interest and purchase channels by category
- Consumer attitudes towards age-friendly home appliances and premium factors
- Consumer impressions of major brands
As the national subsidy boom for home appliances gradually cools down, major home appliance brands should focus on unexplored audience segments and scenarios, such as the silver-haired generation and smaller households, as new growth avenues in the saturated market. When communicating with consumers, brands need to identify their target audiences and achieve emotional resonance by creating a brand image that is both robust and thoughtful.
Laura Liu, Senior Research Analyst – Retail & Home Appliances, China
Market Definitions
Major home appliances are typically grouped into white goods and black goods. White goods mainly include household appliances that eliminate manual labour, such as fridges, air conditioners and washing machines (including all-in-one washer-dryers and independent dryers), while black goods primarily consist of products that provide entertainment, such as TVs.
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Executive summary
- Key issues covered in this Report
- Definitions
- What you need to know
- Market overview
- Market factors
- The consumer
- Opportunities
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The market
- Market overview
- The major home appliance market grew steadily with the support of national subsidies in H1 2025
- Graph 1: major domestic appliance volume sales and year-on-year growth rate, 2025 H1
- Graph 2: major domestic appliance value sales and year-on-year growth rate, 2025 H1
- Short-term policy stimulus lifts consumption, but home appliance growth fades after October 2025
- Graph 3: YOY growth rate of commodity value sales by companies above a designated size, by category, 2019-25
- Graph 4: YOY growth rate of commodity value sales by companies above a designated size – household appliances and audio-video equipment, 2025
- Despite a short-term rebound, price wars continue to intensify across categories in the long term
- Market factors
- The prolonged downturn in the real estate industry has dampened the desire to spend on major home appliances
- Graph 5: sales area of new commercial housing and year-on-year growth rate, 2020-25
- Diminishing impact of national subsidies exposes pressure on the home appliance market
- Silver generation growth implies great consumption potential in age-friendly home appliances
- Graph 6: number and proportion of population aged 65 and above, 2019-24
- Focus on small households’ everyday life needs
- Graph 7: changes in family structure*, 2005-23
- Market highlights
- Empowered by technology, all-in-one home appliances are no longer jacks of all trades
- Capture social trends and quickly leverage memes to form a new ecosystem of content co-creation
- Companies and brands
- The three major home appliance giants varied in performance: Haier and Midea maintained growth; Gree faced pressure
- Korean brands face challenges, while domestic brands stand out
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The consumer
- Changes in consumer purchasing channels
- Comprehensive shopping platforms and offline home appliance chains remain mainstream; membership supermarkets and short video platforms see rapid development
- Graph 8: major domestic appliances purchase channels, 2021 vs 2025
- The purchase conversion efficiency of short video platforms needs improvement
- Consumer demand for purchase and replacement by category
- The ownership rates of most home appliances are stable, with consumers showing strong interest in purchasing new all-in-one washer dryers and side-by-side fridge freezers
- Graph 9: ownership and purchase intentions for major domestic appliances, 2025
- Multi-family households are the main group for new purchases, but small households also deserve attention
- Graph 10: owned but planning to replace, by living situation, 2025
- Major home appliances overall: energy consumption and basic performance are the common pillars that capture consumer attention, while other demands vary and are prioritised differently depending on the category
- Fridges: consumers’ demand for high-capacity fridges and compartmentalised storage drives the growth of side-by-side fridge freezers
- Graph 11: ownership rates by types of fridges, 2023 vs 2025
- Fridges: transitioning from utility-only to visual impact
- Graph 12: factors for replacing fridge freezers, 2025
- Washing machines and dryers: younger consumers have a strong demand for drying functions; space utilisation and chore efficiency make them prefer washer-dryer combos
- Graph 13: major domestic appliance ownership rates, 2024 vs 2025
- Graph 14: ownership and purchase intention of major domestic appliances – do not have it but interested in buying, 2024 vs 2025
- Washing machines and dryers: beyond basic performance and energy consumption, easy cleaning and maintenance and a small footprint are the main directions for upgrades
- Graph 15: factors for replacing washing machines, 2025
- Washing machines and dryers: reach more consumers with drying needs through cost-effectiveness or robust basic functionality
- Air conditioners: multifunctional air conditioners can effectively promote replacement purchases
- Graph 16: factors for replacing air conditioners, 2025
- Air conditioners: think beyond heating and cooling; provide all-in-one solutions for fresher air, space-saving and easy maintenance
- TVs: besides energy consumption and basic performance, design and remote control are the main upgrade directions
- Graph 17: factors for replacing TVs, 2025
- TVs: three ways to break away from the traditional mould and revitalise the category
- Opportunity: the need for age-friendly solutions is clearly present; finding the balance between functionality and emotions is key
- Consumers aged 50-59 demonstrate one of the strongest appetites for trading up their home appliances as their upgrade intentions have increased for three consecutive years
- Graph 18: intention to trade up (buy more expensive brands or products) in the next 12 months – age 50-59, 2023-25
- Youngsters have a high involvement in the process of purchasing home appliances for the silver-haired generation
- Consumers recognise age-friendly concepts; brands need to explore the balance between smart features and fundamentals
- Graph 19: attitudes towards age-friendly appliances, 2025
- Offline experience is a necessity and can be used to improve the product matrix by leveraging brand awareness
- Graph 20: attitudes towards age-friendly appliances, by age, 2025
- Graph 21: attitudes towards age-friendly appliances, by age, 2025
- Mature individuals with financial stability and older parents are most willing to pay a premium for age-friendly appliances
- Graph 22: attitudes towards age-friendly appliances, by age, 2025
- Remote assistance features balance practicality and emotion and become the most critical premium factor in age-friendly home appliances
- Graph 23: premium factors for age-friendly appliances, 2025
- Targeting younger people: appeal to filial piety − giving back to parents and elders
- Targeting older consumers: gain insight into their real needs and enable them do what they are capable of
- Opportunity: a strong brand image is the cornerstone; warmth and affinity are the key to resonating with consumers
- Besides advanced technology, excellent after-sales service can give consumers a greater sense of being cared for
- Graph 24: views of major home appliance brands, 2025
- Branding through services to move consumers with warmth and thoughtfulness
- Graph 25: preferred brand archetypes, 2024 vs 2025
- Younger consumers: know me, amuse me
- Graph 26: preferred brand archetypes, 2025
- Elderly: silent care is better than emphasising ageing
- Graph 27: preferred brand archetypes, 2025
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What we think
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Appendix – methodology and abbreviations
- Methodology
- Abbreviations
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