Refrigerator Compressor Industry Chain Research Report

Refrigerator Compressor Industry Chain Research Report The downstream industries of the refrigerator compressor industry are mainly household appliances such as refrigerators, freezers, water dispensers, dehumidifiers, and ice machines, which are closely related to people's living standards, and refrigerators are the main ones. There are 16 major domestic refrigerator compressor manufacturers, and the overall production capacity has exceeded 120 million units (including 6 companies with an annual production capacity of more than 10 million units), more than 60% of the global total production capacity. Domestic refrigerator compressors have achieved a complete market leading position in the domestic market, and the matching degree of domestic compressors for refrigerators and freezers has reached more than 90%. At present, the mainstream products in the refrigerator compressor industry are medium-efficiency and general-efficiency compressors (COP value below 1.75). With the continuous improvement of China's refrigerator energy efficiency standards, high efficiency (COP value between 1.75.1.95) and ultra-efficient (COP value above 1.95) Compressors and inverters and high-end light commercial compressors have a lot of room for development. According to the statistics of the Home Appliances Association, the energy consumption of air conditioners currently accounts for 20% of the total electricity consumption of household appliances in China, ranking first among all types of household appliances, and consumes 50 to 70 billion kWh of electricity annually. The second place is the refrigerator, which consumes 40-50 billion kWh. Therefore, reducing the energy consumption of air conditioners and refrigerators is a serious challenge for home appliance manufacturers. The production of energy-saving and environmentally friendly home appliances is an inevitable trend in the development of the home appliance industry. The compressor, as a key accessory for refrigeration appliances, is the core and heart of the appliance refrigeration system. The compressor is the core energy-consuming component of the refrigeration system. The most direct and effective way to improve the efficiency of the refrigeration system is to increase the efficiency of the compressor, which will bring a significant reduction in system energy consumption. According to the report of China Industry Development Research Network, from the perspective of global production capacity distribution, as the global refrigeration compressor industry shifts to China, China has become the world's largest refrigerator compressor production country, and the demand for global refrigerator compressors depends largely on China Of supply. Generally speaking, one refrigerator or freezer is equipped with one compressor. Therefore, in 2015, the global refrigerator and freezer compressor production and sales scale is also about 180 million units. Among them, China's production and sales reached 123,675,500 and 144,400,000 units, respectively, accounting for about 69% of the global market. Compared with the finished products of refrigerators and freezers, the production concentration of compressors is higher, and China has become the core producer of refrigerators and freezers in the world. At the same time, in the early stage of rapid expansion of production capacity and the development of the international market, small and medium-sized refrigerator compressor manufacturing companies have increased pressure on survival due to shortcomings in technology, capital, and sales, which has caused the overall concentration of the compressor industry to increase repeatedly. In 2015, the output of the top six manufacturers in China's refrigerator compressor industry (Huayi Compression, Huangshi Dongbei, Anhui Meizhi, Guangzhou Wanbao, Qianjiang Refrigeration and Beijing Embraco) accounted for more than 80% of the total domestic sales %, Accounting for about 56% of global sales. Among them, the output of Huayi Compression and its subsidiaries reached 38.8 million units in 2015, the output of Huangshi Dongbei was 24.04 million units, the sales volume of Qianjiang Refrigeration reached 15 million units, the sales volume of Anhui Meizhi was about 14 million units, and only four of them occupied the domestic market. 73% of sales volume. From the perspective of the domestic market, due to the continuous increase in the output of downstream refrigerators and freezers, the capacity of China's refrigerator compressors has also maintained continuous growth in recent years. At the same time, China's export product structure has been further optimized, and energy-efficient models have gradually been recognized by foreign markets. China's refrigerator compressor export area gradually expanded from Europe, the Middle East, South America to Turkey, Russia, India, Iran and other emerging countries. The acquisition of famous overseas compressor manufacturers by major domestic compressor manufacturers represented by Huayi Compression also illustrates the willingness of China's refrigerator compressor industry to further increase market share in the global market. In the past few years, with the gradual recovery of the global economy, China's refrigerator compressor exports have grown rapidly, and export growth has become an important driving force for the growth of China's refrigerator compressor demand. In 2015, China's refrigerator compressor exports increased by 7.46% year-on-year, but due to the continued decline in the average export price, the export value has experienced negative growth for the first time in nearly ten years. In 2016, the export volume of refrigerator compressors in China reached 4,481,700 units, a year-on-year increase of 17.73%. In terms of the industry competition pattern, there are two main types of refrigerator compressor motor manufacturing enterprises. One is a motor manufacturing enterprise or production line invested by a compressor manufacturing enterprise, and the other is a professional refrigerator compressor motor manufacturing enterprise. Compressor manufacturers provide supporting facilities. In terms of competition between the two types of enterprises, with the rapid expansion of refrigerator compressor motor output, the requirements for energy conservation and environmental protection are becoming more and more strict, and the refrigerator compressor technology is being updated faster and faster, it is difficult for compressor manufacturers to "large and complete" manufacturing mode Provide continuous competitive advantage. Therefore, a supporting system of "compressor manufacturers + professional parts manufacturers" is gradually formed, and the capacity of refrigerator compressor motors is transferred to motor supporting enterprises with more professional advantages. For professional refrigerator compressor manufacturers, three types of manufacturers are gradually formed. One type is to adopt progressive investment, multi-variety and technical manufacturers; one is to invest in large-scale investment and capacity expansion; the other is to target the market Small and medium-sized manufacturers with gaps. Since the compressor motor is the core component of the compressor, the supply and quality of the compressor motor directly affect the normal production and product stability of the compressor. To avoid absolute dependence on a single supplier, large compressor companies generally work with more than five Motor suppliers have established long-term cooperative relations, but 1-3 of them occupy the main supplier positions, obtaining 50% of the compressor company ’s motor purchases, and low-grade motors or special specifications products with small demand are made by some small and medium-sized enterprises. Provided by the supplier. These three types of suppliers compete and complement each other in the industry.

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