When the air conditioner motor goes out of the transition period?
In the cold year of 2016, “high inventory” and “continuous sluggish demand” have been the cloud of enterprises in the upstream and downstream industries. Affected by the market situation in the 2014 cold year, various air-conditioning companies raised their expectations for the market, resulting in a surge in domestic sales, which laid a solid foundation for the 2015 cold year. However, in the cold year of 2016, economic development has entered a new normal, the real estate situation and macroeconomic trends are unclear, and the entire air-conditioning industry is facing downward pressure. Under the premise that intelligence and frequency conversion have become a trend, the product structure of the air conditioner market has been adjusted, and the air conditioner motor industry has entered a period of transitional pain.
Industry: Motors are running weakly
In the cold year of 2016, the air-conditioner motor in the industry's high inventory and insufficient market demand, the domestic market has always been weak, and the European economic recovery and policy dividends have driven export growth. According to industry online data, in the cold year of 2016, the annual production and sales volume of air-conditioning motors was 253.871 million units, down 12.86% year-on-year. Fortunately, at the end of the cold year, sales have reversed, and July has become the only month of growth in the whole year. Can the upturn in the market be a new turn for the air-conditioning motor industry in transition?
From the perspective of domestic and foreign sales, the internal sales volume was 174.765 million units, down 18.74% year-on-year, and the export volume was 61.106 million units, up 9.85% year-on-year. Unlike the downward trend of the domestic market, the export market changed its weakness in the late winter of 2016. The main reasons are as follows: First, because the economy was weak in the same period last year, the export base was low; second, the depreciation of the renminbi, the gradual recovery of the European and American economies, coupled with the intensification of hot weather in Africa and other factors, which favored the export of air-conditioning motors; With the increase in domestic production costs, many domestic air-conditioning enterprises have not satisfied the needs of Europe and the United States, and have actively explored overseas emerging markets through the “One Belt, One Road” initiative of the country. Many favorable factors boosted the export of domestic air-conditioning motors, making the export volume of 2016 cold year all the way up.
Enterprise: stable pattern, Japanese company share decreased
In the cold year of 2016, the competition pattern of the air-conditioning motor sales market remained relatively stable. In the domestic market, the market share of Welling and Kaibang accounts for more than 50% of the total market share; in the past two years, due to the market drag and lack of favorable guidance on the policy, the share of Japanese-funded enterprises has gradually decreased. However, due to the adjustment and upgrading of the product structure of the whole machine, the market share of the two major DC motor manufacturers has not changed much, and basically maintains a share of more than half.
The competitive pressure in the export market of air-conditioning motors is no less than that in the domestic market. In some hot-spot markets, such as North America and Southeast Asia, several major domestic motor brands are highly competitive. In addition to expanding its presence in the Southeast Asian market, Welling has also made some gains in the Americas market. Therefore, in the pattern of the export market of air-conditioning motors in the cold year of 2016, the market of Welling increased by 3 percentage points compared with last year, and the market share of enterprises such as Ocean and Panasonic declined.
Conclusion: At the end of the 2016 cold year, the continuous high temperature weather saved the air-conditioning industry, and high stocks were effectively alleviated. The inventory of air-conditioning motor industry has also been well digested. The new production and sales in the cold year have shown good growth. But is the current inventory reasonable? Is it really necessary to improve? These problems have not been answered. For motor companies, close to the needs of the whole plant, responding to customer requirements more quickly is an effective means to cope with the downturn. As the market demand continues to escalate, only by continuously introducing new products that meet the needs, can we grasp the initiative of future competition.