China's cabinet industry started in the early 1990s and started in the four major regions of Beijing, Shanghai, Fujian, and Guangdong. It was not popularized nationwide in the early days, and market competition was relatively small. With the rise of China's real estate industry, the cabinet industry has experienced three development stages of panel home, functional innovation and material innovation. In recent years, benefiting from the continuous growth of China's real estate industry, the demand for cabinets has also continued to increase, and the increase in cakes is bound to lead More food-sharing companies have intensified industry competition. At present, my country's cabinet production enterprises are mainly concentrated in the eastern, southeastern and southern coastal areas of my country, the brand concentration is not high, and the market competition is fierce.
Cabinets are part of the furniture industry. The furniture industry is a post-real estate industry, and its market is greatly affected by the real estate industry. Since the beginning of the 21st century, policies have led the real estate industry to gradually move towards full decoration. Under the favorable policies, the penetration rate of hardcover rooms has been improved, and the competition for the engineering channels of cabinetry goods merchants has begun.
Reduced brand concentration and fierce competition for hardcover cabinets
In the real estate fine decoration market, the allocation rate of cabinets has been above 95% in the past three years, and it is a standard part. In terms of brand concentration, from January to April 2018-2020, the total share of TOP5 brands in the finely decorated cabinet market shrank by 3.6 percentage points, the market share of head enterprises declined slightly, and market competition gradually upgraded. From the perspective of the number of enterprises, from 2017 to 2019, the number of enterprises entering the fine decoration cabinet market has increased year by year and doubled; from January to April 2020, affected by the overall real estate market, the number of fine decoration cabinet market companies is relatively small. However, compared with the same period in 2018, there are still 13 component companies, and the competition situation should not be underestimated.
The overall kitchen has become a trend, smart cabinets are still potential
The overall kitchen systemally matches cabinets, kitchen appliances and utensils, and the overall configuration and overall design realize the complete unification of the kitchen in terms of function, science and art. After entering the 21st century, the requirements of "Parts Integration" in Order No. 110 of the Ministry of Construction led to the concept of residential integrated kitchen. Subsequently, the Ministry of Construction's key scientific research project "Integrated Residential Kitchen" passed the national appraisal, 2006 and 2011 editions. The "Residential Kitchen" has been issued and implemented one after another, making the overall kitchen industry more standardized and standardized, and promoting the development and growth of the overall kitchen and related industries. The overall kitchen has been perfected in terms of health, safety, comfort, beauty and personalization, and further meets consumers' new and upgraded needs. It has become a major trend in hardcover kitchen systems.
With the development and popularization of artificial intelligence and Internet of Things technology, the home furnishing industry has ushered in an era of intelligence. According to the monitoring data of Aowei Cloud, from January to April 2020, the smart home supporting rate in the real estate fine decoration market has reached 87.9%. Smart cabinets are designed to achieve intelligent control of cabinet products through smart systems, making life more convenient and comfortable. Although the smart cabinet market is at an early stage, the technical and industry barriers have not yet been broken through, but the current functions of the electric cabinet, electric door, intelligent lighting system, automatic dehumidification constant temperature, automatic opening induction system, etc. that the smart cabinets have undoubtedly satisfied the user’s Rigid demand, the infiltration of intelligent technology into the cabinet and even the furniture industry is inevitable.
Under the influence of escalating consumer demand and the trend of intelligentization, the market situation of hardcover cabinets is becoming more and more severe. The overall kitchen product portfolio and design, smart cabinet technology and industry barriers will be opportunities and opportunities for hardcover parts suppliers. challenge.
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