In 2020, the global dehumidifier revenue will be about USD2,576 million, which is expected to reach USD3,503.4 million in 2026. From 2021 to 2026, the annual compound growth rate will be 8.0%. In recent years, with the sustainable development of China's economy and the enhancement of residents' awareness of health and environmental protection, the market demand for dehumidifiers has gradually increased, and the industry scale has continued to expand throughout China. According to the industry online data, from 2019 to 2021, China's dehumidifier industry has achieved a high growth of more than 16% for three consecutive years. This growth rate is among the highest in the world.
Although China's dehumidifier industry has developed for more than 20 years, there is still a big gap compared with developed countries such as Europe and the United States. The domestic popularity of dehumidifiers is only 2.4%, while the popularity of dehumidifiers in the United States has reached 34%, and the popularity of dehumidifiers in South Korea and Japan is also more than 28%. The product penetration rate and penetration rate need to be improved, and the market space has broad prospects. In the past two years, the major traditional household appliance brands have actively explored the layout, bringing new variables to the market competition pattern.
Penetration rate of dehumidifiers in major countries and regions
Three factors promote the steady growth of market scale
Industry online monitoring data show that in 2021, China's dehumidifier industry broke through the 10 million mark, with a total sales of 11.589 million units, a year-on-year increase of 16.8%, and the sales reached 8.33 billion yuan, a year-on-year increase of 23.9%. Since 2016, China's dehumidifier Market as a whole has shown a steady upward trend, with a compound growth rate of 11.2% over the past six years.
There are three main factors for the sustained and stable growth of dehumidifier capacity:
(1) Economic environment: the overseas demand is good, the domestic economy is stable, the consumption level is gradually improving, and the high demand for quality of life is the premise to promote the growth of demand for dehumidifiers;
(2) Brand entry: the number of brands participating in the competition has increased year by year. The involvement of traditional air-conditioning enterprises has greatly promoted the industry norms. At the same time, they have used their own channel advantages to expand the market and enhance consumers' awareness;
(3) Product improvement: the leading enterprises have strengthened product research and development, improved product functions for users' pain points, such as noise and pipelines, resolved consumers' doubts about products, and promoted the continuous upgrading of the industry.
Exports continued to rise, accounting for more than 80%
Although dehumidifiers started early in China, the domestic market scale is relatively limited, and the demand growth still needs to be stimulated. With the improvement of living standards and the change of consumption concepts, the domestic household dehumidifier Market is expected to develop at a high speed. In recent years, overseas demand has continued to improve, and the export scale has continued to rise, accounting for more than 80% of the total.
According to the industry online data, the domestic sales scale of household dehumidifiers in 2021 was 1.31 million units, with a year-on-year increase of 6.1%. Export market: North America leads growth. In 2021, China's export volume of dehumidifiers increased at the same time, with the export volume of 9.92 million units, an increase of 18.3%. At the same time, with the continuous rise in the price of major raw materials of household appliances and the adjustment of logistics freight, the export volume reached US $830million, a year-on-year increase of 24.5%, and the average export price was US $83.67, an increase of 5.1%.
Changes in domestic and export sales structure of domestic dehumidifiers in China from 2016 to 2021 (by sales volume)
By continent, North America accounts for the largest share of the export market, reaching 48%, and continues to grow rapidly under the high base. In 2021, the number of dehumidifiers exported by China to North America will achieve a substantial increase of 27%. Europe ranks second with a market share of 28%. The dehumidifier Market in Europe is relatively mature, and the high-end dehumidifier products in the market account for the vast majority, so the profit of the whole machine is relatively high. The market share of Asia accounts for 22%, and the development of dehumidifier Market is closely related to the climate characteristics of Asia. The southeast half of East Asia is a humid temperate and subtropical monsoon region, while Southeast Asia and South Asia are humid tropical monsoon regions. The climate of coastal areas is relatively humid as a whole, and there is a great demand for dehumidification.
The competition pattern gradually converges to the leading brands
At present, the overall market scale of dehumidifiers is limited compared with the white electricity market, but the good prospect in the future makes the industry in a state of contention among hundreds of schools of thought. Due to the low technical barriers, many enterprises participate in it. According to different enterprise strategies and different markets, it is generally divided into three categories: global layout, domestic sales oriented brands and export oriented brands. The proportion of dehumidifiers in the overall household appliance market is still low. At present, the dehumidifier industry is still in a state of contention among hundreds of schools of thought, with a large number of brands.
According to the market share report of dehumidifiers investigated by relevant institutions, the market share of top 3 enterprises has decreased slightly from 44.8% in 20 years to 46.3%. Leading enterprises continue to seize market share. At present, the industry is in the stage of oligopoly. Due to the industry characteristics of dehumidifiers and the "long tail" effect of the current Internet era, small and medium-sized enterprises also have strong competitiveness.
With the change of people's consumption concept and the popularity of dehumidifiers, dehumidification will be paid more and more attention. After two consecutive years of high growth in exports, coupled with the impact of manufacturing costs, logistics, consumption, exchange rates and other factors, it is expected that there will be a correction in 2022, with a slight year-on-year decline of about 2.4%.
