Refrigeration Appliances in Hong Kong, China

PROSPECTS

Premium products with advanced features gain popularity in refrigeration appliances

Due to the high level of maturity, demand for refrigeration appliances in Hong Kong mainly comes from second- and third-time buyers. As a result, factors like energy efficiency, fashionable designs and air purification play an important role in purchasing decisions.

Replacement cycles continue to drive growth in retail volume sales

Growth in refrigeration appliances retail volume sales remained stable in 2018, with maturity ensuring that demand was mainly driven by replacement cycles. Due to the high level of maturity, it is expected that the category will continue to post steady but modest growth in retail volume sales over the forecast period.

Freestanding products continue to dominate refrigeration appliances

Freestanding products are expected to hold their dominant position in refrigeration appliances over the forecast period. The strong preference for freestanding products is mainly due to the fact that they are more affordable and easier to replace than built-in models.

COMPETITIVE LANDSCAPE

Leading players continue to launch new products to attract consumers

To cater to the growing demand for premium features and attractive designs among local consumers, major refrigeration appliances brands in Hong Kong continued to launch new products over 2017-2018. For example, LG’s 626L Side By Side InstaView Door-in-Door Refrigerator is equipped with a mirrored glass panel that is illuminated by simply knocking on the glass.

Hitachi maintains its lead in a category dominated by international brands

Hitachi remained the leading brand in refrigeration appliances in volume terms in 2018. Other prominent competitors in the category included Whirlpool, Samsung, Mitsubishi Electric, Panasonic and Siemens.

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