China appliance industry decline

According to the “2022 Annual Report on China’s Household Appliance Industry,” both export and domestic sales of the industry are projected to decline in 2022. The export scale of the industry is expected to decrease by 10.9% YoY, amounting to 568.16 billion yuan, while domestic sales volume is expected to drop by 9.5% YoY, reaching 730.72 billion yuan.

However, some home appliance companies reported positive sales figures in their 2022 annual reports. Air conditioners, air fryers, and floor scrubbers were among the top-performing products in the market.

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