中国冰箱行业战略报告bnjl.pptx

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1、CONFIDENTIALIndustry Situation Analysis:Refrigeratoraaaaaa ELECTRONICS CHINA(aaaaaa China)This report is solely for the use of client personnel.No part of it may be circulated,quoted,or reproduced for distribution outside the client organization without prior written approval from McKinsey&Company.T

2、his material was used by McKinsey&Company during an oral presentation;it is not a complete record of the discussion.aaaaaa010807BJ-refrigeratorKEY MESSAGES Refrigerator market is expected to grow at 4.6%annually from RMB 21 billion in 2000 to RMB 26 billion in 2005.Although growing at a rate as high

3、 as 31.1%,side-by-side refrigerator market is expected to remain very limited in the next 5 years In general,industry profitability for refrigerator is moderate.However,side-by-side refrigerators enjoy double digit return on sales Except side-by-side refrigerator,refrigerator market is led by local

4、players.However,there are opportunities for MNCs to successfully build up their position by focusing on mid-to-high-end segments The refrigerator industry is relatively“low-tech”and has low entry barriers.Entry into WTO is not expected to have direct huge impact on the competitive environment With m

5、arket shares around 3 to 4%,aaaaaa is moderately positioned in refrigerator market.1aaaaaa010807BJ-refrigeratorMARKET ASSESSMENTMarket assessmentSupply(competitor)analysisDemand(customer)analysisOverall environment analysisMarket definition2aaaaaa010807BJ-refrigeratorMARKET ASSESSMENTSupply(competit

6、or)analysisDemand(customer)analysisOverall environment analysisMarket definition Evaluation criteria,weight and rating Assessment of market attractiveness Market assessment Product/service definition Relevant regulatory environment and trends Relevant technological environment and trends Market size

7、 and growth rate Key buying factors Distribution channel structure Market share by competitor Industry profitability or economics3aaaaaa010807BJ-refrigeratorMARKET DEFINITION Product/service definitionSupply(competitor)analysisDemand(customer)analysisOverall environment analysisMarket definitionMark

8、et assessment4aaaaaa010807BJ-refrigeratorPRODUCT SCOPE WHITE GOODSProduct group Product categoryAir conditioner Washing machineWhite goodsMicrowave Packaged A/C Central A/C*Side-by-sideRefrigerator Product subcategories*Used by residentials and small businesses5aaaaaa010807BJ-refrigeratorMARKET DEFI

9、NITIONSupply(competitor)analysisDemand(customer)analysisOverall environment analysisMarket definitionMarket assessment Relevant regulatory environment and trends Relevant technological environment and trends 6aaaaaa010807BJ-refrigeratorLOW-END REFRIGERATOR MARKET IS LIKELY TO BE DOMINATED BY LOCAL C

10、OMPETITORS.MNCS COULD SUCCEED IN THE MID-TO-HIGH-END NICHE MARKETSRegulatoryTrends/issues Implications Market has been fairly open and will remain so Most leading MNC players are already in China and have localized their production and sourcingTechnological In general,technologies for refrigerators

11、are not very complicated,esp.for low-end products Technology trend is to focus on digitization,artificial intelligence and environmental friendliness Entry to WTO is not expected to have huge direct impact on current competitive environment The market is likely to be dominated by local players who a

12、re mostly not as strong in technology as MNC players but stronger in channel and sales capabilities,especially in the low-end segments MNC players are likely to succeed by being niche players and focusing on mid-to-high-end segments Competition in product innovation is likely to focus on customization and localization7aaaaaa010807BJ-refrigeratorMARKET DEFINITIONSupply(competitor)analysisDemand(customer)analysisOverall environment analysisMarket definitionMarket assessment Market size and growth rate Key buying factors Distribution channel structure8aaaaaa010807BJ-refrigerator