New standards for air conditioning energy efficiency will accelerate industry reshuffle

It is reported that China's new standards for energy efficiency of inverter air conditioners have been finalized and entered the approval stage, and will be formally implemented on June 1. This means that some of the energy-efficient air-conditioning products will be completely eliminated by the market, and the air-conditioning industry will accelerate the pace of adjustment. By then, enterprises with strong competitiveness in product structure adjustment, technology, scale, and channels will benefit from the policy dividend.

Second quarter results may exceed expectations
According to the sales data of the refrigerator terminal market during the May 1st period, the home appliance market showed a fiery sales trend, especially the sales performance of white air-conditioners in air-conditioners was particularly eye-catching. In some areas such as Henan and Hubei, the growth rate exceeded 50%. In the second quarter, sales in the air-conditioning industry may exceed market expectations.

The sales data of the air-conditioning industry in the first quarter of this year was slightly lower than market expectations. Data show that from January to March, the cumulative growth of industry shipments was 5%. However, since the sales volume in the first quarter only accounts for 20% of the whole year, it does not fully indicate the overall prosperity of the industry, and the real reflection of the industry's prosperity depends on the sales in the second quarter.

Energy-saving subsidies will not end

Recently, the National Development and Reform Commission, the Ministry of Finance, and the Ministry of Industry and Information Technology have jointly announced a list of new energy-saving Huimin Appliances, including platform TVs, home appliances, room air conditioners, and solar water heaters. The country one-time month before the expiry of the policy expends a multitude of energy-saving Huimin engineering enterprise catalogs at one time, which greatly increases the market's expectation of policy continuation. If the policy continues, it will have a more positive impact on the home appliance market.

Among the four categories of large home appliances, as China's air-conditioning industry is still in the development stage, especially the rural market has a low level of ownership, there is a lot of room for growth in the future. The urban market has a high penetration rate and it is in a period of replacement in recent years. Therefore, the air-conditioning industry will benefit more from national policy support.

From the new air-conditioning energy-saving subsidy policy that began in June last year, the effect of the policy in September has gradually emerged, and the industry sales have improved significantly. Especially into the traditional sales season, the air-conditioning market boom continues to rise. According to the sales data of large-scale chain stores in major cities, air-conditioning is the category with the highest consumer purchase rate.

Inventory Market Drives Industry Integration

What is different from everyone's expectations is that there is a great potential for updating the air-conditioning stock market, and this will certainly promote the integration of market share among the industry.

Reviewing a series of home appliance consumption stimulus policies in recent years has stimulated the rapid release of air-conditioning demand to a large extent. From 2009 to 2011, the country has successively introduced home appliances to the countryside, trade-in and air-conditioning energy-saving subsidies. During the implementation of the policy, the growth rate of the air-conditioning industry was 27%, 37% and 17%, respectively, and the industry maintained a rapid growth for three consecutive years.

From the point of view of China's home air conditioners, policy support has played a very significant role in promoting the popularization of air conditioners. According to the data from the National Bureau of Statistics, in 2009, the air-conditioning capacity of urban air conditioners nationwide was 106.8 units/hundred households and rural areas were 12.2 units/100 households. At present, the air-conditioning capacity of cities and towns in China has reached 123 units/hundred and the rural ownership has increased to 20. Taiwan / 100 households.

In recent years, the income of rural residents has been accelerated, and the growth rate of income has exceeded the income of urban residents for two consecutive years. Based on the fact that the proportion of rural population in China accounts for a large proportion of the national population and the rural market is relatively low, the rural market is expected to be new in the next few years. The increase in demand is at least 4.55 million units. At the same time, from the beginning of last year, the air-conditioning industry has entered a period of upgrading, and the 480 million units of air-conditioning inventory will surely set off a new round of replacement peaks.

Therefore, the promotion of air-conditioning energy-saving subsidies will accelerate the release of potential market demand. GOME and Zhongyikang estimated that this year's consumption scale in the air-conditioning market will increase by 11.2% year-on-year through surveys of more than 600 cities across the country, among which energy-saving and public-benefit policies will bring growth rate of energy-saving goods sales to 30.2%.