The company has considerable influence in overseas In addition markets. According to Euromonitor data, in 2023, Haier Smart Home’s white goods retail volume rank first in the Asian market with a market share of 26%, second in the Americas with a market share of 15.8%, first in Australia and New Zealand with a market share of 14.6%, and fourth in Europe with a market share of 8.8%.
However, with the continuous expansion of overseas revenue base and the overall slowdown in the global economy leading to weakening demand for home appliances, the company’s overseas business should also encounter some growth bottlenecks in the future.
Looking at the actual situation, from 2021 to 2023
The growth rates of Haier Smart Home’s overseas business revenue will be 13.2%, 9.91% and 7.6% respectively, and the trend of slowing down is quite obvious.
In the future, in overseas markets, Haier Smart usa phone number list Home will still face fierce competition from giants such as Midea Group. On the one hand, Midea Group’s overseas business has grown rapidly, with revenue soaring from 49.785 billion yuan in 2014 to 150.9 billion yuan in 2023, and its absolute value is higher than the former.
On the other hand
Midea Group attaches great importance to overseas In addition markets and expands its scale through overseas expansion of its own brands and mergers and acquisitions. Its main operating methods include expanding production capacity in markets with growth key digital marketing trends for 2024 potential such as Europe, Latin America, Africa, India and Southeast Asia, improving the scale and quality of overseas production; establishing joint ventures with leading companies in countries such as Brazil, Egypt and India to accelerate its overseas expansion; and acquiring leading companies such as Toshiba Life and Kuka Group.
For many years, the overseas market has been large enough
That Midea Group and Haier Smart Home can work side albania business directory by side to take away the market share of overseas home appliance companies. However, in the future, with the market concentration increasing significantly and the overseas home appliance market declining, the two domestic home appliance giants, Midea Group and Haier Smart Home, will almost inevitably come into direct conflict.
