China Consumer Durables Market Outlook
China Consumer Durables Market Outlook 2025: Opportunity & Growth Analysis, 2017-2025
Report Code :CR 1335
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China Consumer Durables Market Outlook
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Vision
Value
Visibility
China Consumer Durables Market
Research Methodology • • • • •
Market Environment • • • • •
Consumer Durables Manufacturing Outlook Consumer Durables Demand & Supply Outlook Consumer Durables Sales Analysis Supply Chain Analysis Consumer Demographics Analysis Consumer Durables Import & Export Analysis Government Regulations
Executive Summary • • • •
China Economic Outlook Macroeconomic Outlook Electronics Industry Outlook Advancing Technologies Outlook Smart Devices & Smart Home Market Outlook
Industry Structure • • • • • • •
Secondary Research Primary Research Data Analyzing & Market Size Estimation Research Design Bottom-Up & Top-Down Approach
Market Size (USD Million) Forecast Analysis (2017-2025) Market Share & CAGR (%) Regional Share Distribution (%)
Market Dynamics • • • • •
Growth Drivers Market Restraints Risk Analysis Recent Trends & Developments Opportunities for Market Players
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Vision
Value
Visibility
China Consumer Durables Market Consumer Durables Market Segmentation
By Product Type Analysis, 2017-2025
White Goods (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2025) Air Conditioner Refrigerator Washing Machines Dish Washers Microwave Ovens Other Durable Domestic Appliances Brown Goods (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2025) Televisions Audio and video systems Laptops Digital Cameras Other Durable Consumer Electronics BPS Analysis of Consumer Durables Market By Product Type Market Attractiveness of Consumer Durables Market By Product Type
By Pricing Model Analysis, 2017-2025
Low Cost Products (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2025) Medium Cost Products (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2025) High End Products (Customized or luxury Brands) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2025) BPS Analysis of Consumer Durables Market By Pricing Model Market Attractiveness of Consumer Durables Market By Pricing Model
By Distribution Channel Analysis, 2017-2025
Online Distribution Channel (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2025) Offline Distribution Channel (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2025) BPS Analysis of Consumer Durables Market By Distribution Channel Market Attractiveness of Consumer Durables Market By Pricing Model
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Vision
Value
Visibility
China Consumer Durables Market Competitive Outlook
Market Share of Major Players Competitive Strategies Acquisitions & Divestitures Company Profiles Huawei Investment & Holding Co., Ltd. Company Synopsis Business Strategy Product Portfolio SWOT Analysis Hangzhou Robam Appliances Suofeiya Home Collection LG Electronics Sony Panasonic Samsung Koninklijke Philips N.V. Haier Consumer Durables Group Logitech International Toshiba Hitachi Ltd. Hisense Updated version of this report is available at :- https://bit.ly/39HhJEj
Porter’s Five Force Model Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem Expert Analysis Concluding Remarks
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China Consumer Durables Market Outlook
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Research Methodology
Research Methodology
Goldstein Research follows a comprehensive and rigorous research methodology to provide you accurate estimates and forecast of a particular market. We provide estimates, forecast and analysis primarily based on secondary research, primary interviews, in-house database and other free as well paid sources. Our company follows simultaneous top down and bottom approach in order to provide you the accurate market sizing. Data triangulation method is strictly followed where we triangulate the data from all the aspects, be it Function Type, application, industry verticals, material, product type or geography. In addition, the research methodology we follow is a systematic approach in order to estimate and project the market sizing keeping in mind all the ongoing and upcoming trends of the market. We conduct both primary and secondary research in order to estimate a market and validate our key findings.
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We put together our effort and prepare an inclusive questionnaire depending on the title of the market we are tracking and extract the important information we require to validate our findings. Our team of Analysts and experts dedicatedly put their effort to provide you the best possible and accurate data and analysis. Adding to that; technological, economic, cultural and social aspects along with the regulatory barriers are completely analyzed to understand the comprehensive market scenario across different geographies.
Updated version of this report is available at :- https://bit.ly/39HhJEj Understanding the market from both buyer and seller point of view is important to track a market and provide analysis on the same. We not only provide the market data of the four geographies as a whole, namely, North America, China, Asia-Pacific, Latin America, Middle East & Africa and Rest of the World (RoW) but we also provide you qualitative as well we qualitative information on country level bifurcation. We at Goldstein Research provide you: • Precise Estimates and Forecast • Authentic Analysis • In-depth Data and Analysis • Authentic Sources • Reliable Data and Analysis
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China Consumer Durables Market Outlook
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China Economic Outlook China Economic Outlook China's economy, despite sizeable challenges such as trade tensions and the unfinished deleveraging campaign, will see its GDP grow at a respectable rate of around XX percent. There are two main reasons for this.
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First, barring a severe correction in the housing markets of major cities, growth in domestic consumption will probably be close to the double digits. Second, even if there is a shortfall in exports due to trade tensions, this can easily be made up through a measured dose of fiscal stimulus, thus allowing domestic investment to make up for the shortfall in the external sector. The government has stepped up its efforts on the fiscal front already and in 2019 China will probably have a moderate current account deficit. But the side effects of underwriting an unrealistic economic growth target and the risky appeal of fiscal stimulus (which also comes from external parties) must not be underestimated.
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Third, the automotive sector, a bellwether industry in China, has encountered some serious difficulties in 2018 as auto sales saw their first-ever decline. The next stages of China’s transition away from economic equilibrium with the United States will likely create volatility in market growth and require conservatism in some areas and bold moves in others. uncertainties will lead to lower levels of long-term investment by businesses in 2019 and to greater levels of volatility in market growth and in the valuations of many kinds of assets. It will be a year for prudent conservatism in many areas, combined with a readiness to make big, bold bets if and when one-time opportunities arise. Momentum behind China's economy ebbed steadily over the course of 2018, with the business cycle receding from its recent peak in 2017. Real GDP rose by XX%, but growth in the first half of the year (XX%) was much stronger than in the second (XX%). Domestic factors led the slowdown, with the tighter financial conditions bought about by the deleveraging campaign continuing to erode consumer and business confidence. The downward spiral in US-China commercial relations caused additional anxiety, even as external trade flows remained robust throughout the year. The immediate outlook does not inspire confidence. Leading indicators point to a weak economic performance in the first quarter of the year. The official manufacturing purchasing managers' index slipped to two consecutive months of contraction in December ‑January for the first time for almost two years. Meanwhile, consumer spending remains sedate, with falling car sales acting as a drag. Surveys have suggested reduced expectations for salary growth in 2019, while media reports have highlighted job cuts in even better-performing parts of the economy, such as the technology sector. Updated version of this report is available at :- https://bit.ly/39HhJEj
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China Electronics Industry China Electronics Industry • From 1949 to 1980, China’s electronics industry developed slowly due to limited demand and a closed market. Since 1980, spurred by economic reform and the opening-up policy, China’s electronics industry has entered a stage of rapid development, driven by strong demand for consumer electronics. Entering the 1990s, the Chinese government adopted a more open policy towards the computer hardware market, making the computer industry the leading force in the development of the electronics industry. By the end of the 1990s, China became the second largest consumer and producer of computer equipment, second only to Japan.
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• Beginning in Europe and North America and transferred to South America and Taiwan, the global electronic manufacturing industry now tends to transfer to the mainland of China and Eastern Europe. China electronic manufacturing services market occupies an important place in the global market. In 2017, the value of China's electronic manufacturing services market reached around USD XX billion.
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• There are three centers of electronic manufacturing services in China, which are of large scale and have complete facilities, including Pearl River Delta, Yangtze River Delta and Bohai Bay Region. And they are predicted to be main investment regions in the future. • China is a big manufacturing country, where export of mobiles, computers, color TVs and so on takes large proportion in the whole export and plays an important role in the global overseas trade. It is predicted that, in the coming years, the proportion will become larger and the export of electronic information products will be near USD XX billion. The export of China's electronic products will remain a stable rising trend for the next few years.
Proportion of the Electronics Industry to the Entire Industrial Sector (%)
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2014
2015
2016
2017
Enterprises
XX
XX
XX
XX
Total output
XX
XX
XX
XX
Value added
XX
XX
XX
XX
Workers
XX
XX
XX
XX
Total assets
XX
XX
XX
XX
Exports
XX
XX
XX
XX
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Market Environment
Contribution of chemical industry to manufacturing value added, 2017
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Similar data representation for remaining chapters in market environment
Other Manufacturi ng
Bahrai n UAE Kuwa i t
XX%
Chemi cal s
XX%
XX%
XX%
XX%
XX%
Saudi Arabi a
XX%
XX%
GCC
XX%
XX%
Qata r
XX%
Oman XX%
Copyright
XX%
XX% XX%
XX%
XX% XX%
All Rights Reserved, Goldstein Research
XX%
XX%
XX%
XX%
XX%
XX%
www.goldsteinresearch.com
XX%
China Consumer Durables Market Outlook
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Sales Analysis Total Sales of Consumer Durables Across China- 2017 White Goods
Brown Goods
Products
Sales Volume (Thousand Units)
Sales Value (USD Million)
Products
Sales Volume (Thousand Units)
Sales Value (USD)
Air Conditioner
XX
XX
Televisions
XX
XX
Refrigerator
XX
XX
Audio and video systems
XX
XX
Washing Machines
XX
XX
Laptops
XX
XX
Dish Washers
XX
XX
Computers
XX
XX
Microwave Ovens
XX
XX
Digital Cameras
XX
XX
Others
XX
XX
Others
XX
XX
Source: Goldstein Research
Total Sales of Consumer Durables Through Different Channels Across The China 2017 Channel
Sales Volume (Thousand Units)
Sales Value (USD Million)
Flagship Stores
XX
XX
Independent Retailers
XX
XX
Authorized Distributors
XX
XX
E-Commerce
XX
XX
Source: Goldstein Research
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Demand & Supply Analysis
China Consumer Durables Market, By Production (in Units), 2017-2025
China Consumer Durables Market, By Sales (in Units), 2017-2025 XX
XX
XX XX
XX XX
XX
XX
XX XX
XX XX
XX
XX
XX
XX XX
XX XX
XX
XX
XX
XX XX
XX XX
XX
XX
XX
m a S XX
XX
XX
XX
XX
XX
XX
XX 2017e
2018e
2019f
2020f
Source: Goldstein Research
2021f
2022f
2023f
2024f
2025f
e l p XX
2017e
2018e
2019f
2020f
2021f
2022f
2023f
2024f
2025f
Source: Goldstein Research
Revenue in the consumer durables segment amounts to USD XX billion in 2018. Revenue is expected to show an annual growth rate (CAGR 2017-2025) of XX%, resulting in a market volume of USD XX billion by 2025. User penetration is XX% in 2018 and is expected to hit XX% by 2025. The average revenue per user (ARPU) currently amounts to USD XXX. Consumption will be shaped by a booming middle class, older consumers, digital natives, a rapidly expanding sharing economy, technology advances and the growing importance of data, among other trends. The sharing economy, which took hold so easily in China, was estimated to be worth about USD XX billion domestically in 2016, a sum that included spending both by consumers and businesses. Chinese consumers are already accustomed to paying for access rather than ownership, and by 2027, this model of consumption will become an even more routine part of their lives.
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Market Environment
Contribution of chemical industry to manufacturing value added, 2017
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Similar data representation for remaining chapters in industry structure
Other Manufacturi ng
Bahrai n UAE Kuwa i t
XX%
Chemi cal s
XX%
XX%
XX%
XX%
XX%
Saudi Arabi a
XX%
XX%
GCC
XX%
XX%
Qata r
XX%
Oman XX%
Copyright
XX%
XX% XX%
XX%
XX% XX%
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XX%
XX%
XX%
XX%
XX%
XX%
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XX%
China Consumer Durables Market Outlook
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China Consumer Durables Market Outlook China Consumer Durables Market Share(%), By Product Type - 2017-2025
China Consumer Durables Market Size USD (Billion). 2017-2025 XX XX
XX% CAGR: (2017-2025)
XX XX
XX
XX
XX
XX
40.00%
XX
XX
XX
XX
XX
e l p 60.00%
XX XX XX 2017e 2018e 2019f
2020f
Source: Goldstein Research
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2022f
2023f
2024f
Durables market
China Consumer Durables Market Share (%), By Pricing Model - 2017
22.00%
White Goods
Brown Goods
Source: Goldstein Research
White Goods accounted for the highest market share XX% in China Consumer
In 2017,
2025f
36.00%
XX% share in 2017, Online Distribution is the fastest growing segment in With
the China Consumer Durables market
China Consumer Durables Market Share (%), By Distribution Channel- 2017
30.00%
70.00% 42.00%
Low Cost Products
Online Distribution Channel
Offline Distribution Channel
Medium Cost Products High End Products (Customized or luxury Brands)
Source: Goldstein Research
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China Consumer Durables Market Outlook The electrical and electronics goods industry is one of the major segment of China economy, both in terms of production and retail sector. According to figures from 2017 the employment in these sectors was over XX Million, with a value added of more than USD XX Billion. EU exports amounted to over USD XX Billion. High Consumer Spending Power
Shorter development cycles and more new products: Driven by consumer behaviors and technological developments the speed of new product development has significantly increased. The number of available products and variants at any given point in time is increasing constantly.
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Increased consumer power and competition: Peer opinion plays a more important role and competition between brands and models has increased making it even more important to use every opportunity to stand out from the crowd.
Technological Advancements
Increased awareness for sustainability issues: The trend towards environmentalconsciousness is expected to continue as natural resources are depleted at an increasing rate and as waste becomes a bigger problem. According to one study XX % of the population is actively looking for sustainable products. Regulatory demands also add extra fuel to this trend and will play an important role for brand owners.
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Increased importance of visual appearance: Increasing competition among brands drives the need for packaging in assisting in brand-building and differentiation. When both traditional and online retailers have direct contact with the consumer, packaging becomes an important touch point between brand owners and the consumer. Growth had boosted in several categories of consumer durable goods. The low production cost & inclusion of advance technologies in consumer durable products manufactured in China, is thus giving huge competition to global players from across the world.
Cost & Energy Efficient Products
Smart Homes
Consumer Durables Market Size (USD Billion) Japan
2017
USD XX Billion
2025
USD XX Billion
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China
India
USD XX Billion
USD XX Billion
USD XX Billion
USD XX Billion
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China Consumer Durables Market Outlook
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Growth Drivers Internet of Things and Smart Homes
Manufacturers of home appliances are producing innovative, connected and smart products that give time and value back to their users. What is more, these products provide substantial benefits to society as a whole: they help consumers to actively conserve energy, to integrate the use of renewable energy sources, to pave the way for faster and more accurate appliance repairs, and to reduce waste and unnecessary replacements of appliances – contributing to a new, circular society
The benefits of connected and smart appliances will only increase as their potential for interoperability is rapidly being developed. As more and more home appliances are connected to the Internet, the legislative framework for these products is rapidly changing. Data ownership and privacy, as well as cyber security, are topics that are of great importance for our manufacturers, to ensure the highest degree of product safety and security, and to ensure a responsible and transparent handling of the data related to these products.
Wearable devices and smart TVs present major opportunities here, but companies will need to incentivize consumers to raise their ownership levels as according to our study, less than one Chinese consumers own a smart watch. Streaming TV device ownership remains low too, with ownership peaking at XX% in Japan, followed by XX% in Japan and XX% in Singapore.
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Apparent Consumption (USD Million) of Electronics and Electrical Engineering XX
2017
XX
m a S XX
2016
XX
XX
2015
XX
XX
Electrochemical and Component Accessories
XX
Passive Components
XX
Semiconductor and Optoelectronics
XX
2014
XX
XX
XX
XX
XX
XX
XX
XX
XX
XX
Source: Goldstein Research
Impact Analysis:-
China market is emerging as one of the largest consumers & manufacturer of electronics and electrical engineering due to their population size, economic power, and sophisticated demand.
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Impact on China Consumer Durables Market High
Medium
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Low
Growth China Consumer Drivers Durables Market Outlook
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Market Restraints Energy-Efficient Electronics There’s a push for energy-efficient electronics, forcing manufacturers to develop new methods to produce devices that consume less energy. Environmental concerns are paramount not only during the manufacturing process, but also throughout the lifespan of electronics devices. Reducing energy consumption is an effective way to cut costs, leading both businesses and consumers to opt for energy-efficient electronics. The pressure is on manufacturers to adopt green manufacturing processes while simultaneously producing electronics that are less expensive to use thanks to lower energy demands. These trends will be the key influencers that shape the electronics manufacturing industry in 2017 and beyond. It all comes down to better service and more sophisticated products, delivered at unprecedented speed with accuracy – while at the same time, controlling costs and minimizing environmental impact. It’s an evolving world, and electronics manufacturers that position themselves as agile, flexible solutions providers that can keep pace with rapid change and align themselves with the right strategic partners will be the ones to stand out in the coming year.
China E-waste Generated (Mt), 2017-2025
XX XX XX XX
2017e
XX
2018e
2019f
2020f
XX
XX
XX
XX XX
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E-waste Per Inhabitant (Mt), 2017-2025
2025f
Impact Analysis: We believe that In order to address this problem all recyclers in China should be forced by law to meet the EN treatment standards and report their volumes of treated WEEE under official statistics. If this is implemented and enforced the EU targets are well within reach.
2017e
XX
XX
XX
XX
XX
2018e
2019f
2020f
2021f
2022f
All Rights Reserved, Goldstein Research
XX
2023f
2024f
Impact on China Consumer Durables Market High
Medium
Current EU law requires member states to inform the China Commission about the amount of electronics they recycle, export and collect.
Copyright
XX
www.goldsteinresearch.com
Low
XX
2025f
China Consumer Durables Market Outlook : 2017-2025
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China Consumer Durables Market Outlook : 2017-2025 China Consumer Durables Market Share (%), By Product Type, 20172025
White Goods
XX%
45.00%
2025
2017
Brown Goods
Source: Goldstein Research
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55.00%
XX%
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China shipments of Connected TV Devices grew XX% during Q4 2017 to reach a quarterly record of XX million units bringing the overall number of such devices installed in China homes to XX million. Smart TVs accounted for over XX% of total Connected TV device shipments in Q4 and the smart TV penetration of all TV shipments across the region reached XX%. China has been a “beacon of light” in 2017 on the China TV market. Despite a lack of major soccer events in the first half of the year, three percent more TVs were sold overall.
China Consumer Durables Market Y-O-Y Growth, By Product Type, 2017-2025 The U.S. and Western Europe —
XX%
XX%
XX%
2017e
2018e
2019f
XX%
2020f
XX%
XX%
XX%
XX%
2021f
2022f
2023f
2024f
XX%
markets once widely derided as mature and stodgy—are providing the main sparks of growth for makers of home appliances. For instance, Whirlpool’s purchase of Italy’s Indesit Co. last year doubled the company’s business in China, in time to benefit from a recovery in much of Western China.
2025f
Source: Goldstein Research
Global Upholstery Fabric Market Size (USD Billion), By Product Type -2017-2025 XX XX
XX
XX
2017 Brown Goods
2025 White Goods
Source: Goldstein Research
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China Consumer Durables Market Attractiveness and BPS Analysis by Product Type, 2017-2025 China Consumer Durables Market Attractiveness-By Product Type, 2017-2025 XX%
CAGR (%)
XX% XX% XX% XX% XX% XX% XX
XX
XX
XX
XX
XX
XX
Market Size (USD Billion)
White Goods
XX
XX
XX
Brown Goods
Source: Goldstein Research
Water based adhesive segment holds the largest revenue share in the China Consumer Durables market as this segment constitutes which is impacted by the rising cognizance among the household users and thus it is likely to expand at XX% CAGR during the forecast period.
SAMPLE
Cloud Computing market is relying on the adoption of EHR (Electronic health record) software by various healthcare facility providers in order to stand ahead in future. Behavioral health EHR creates a world of difference to the staff and patients and goes the extra mile giving advanced capabilities such as it include support for documenting violence risk factors, suicide risk factors, or sadness scales.
China Consumer Durables Market BPS Analysis- By Product Type, 2017-2025 XX% XX% XX% XX%
55.00%
60.00%
XX% White Goods Brown Goods
XX% XX% XX% XX%
40.00%
45.00%
2017
2025
XX% XX%
Source: Goldstein Research
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China Consumer Durables Market Outlook Outlook : 2017-2025
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China Consumer Durables Market Outlook Koninklijke Philips N.V. (Company Overview & Business Strategy)
Founded 1891
Employees 114,731
Company Overview
Koninklijke Philips N.V. is a Dutch multinational electronics company headquartered in, Netherlands.
The Company operates through three geographic segments: Americas; China, the Middle East and Africa (EMEA), and Asia Pacific (APAC).
Koninklijke Philips N.V is traded on NYSE stock exchange, America.
The company also provides healthcare informatics, solutions& services to health care sector and it is one of the leading electronics company in healthcare sector across the globe
Website
Headquarters Netherlands
www.philips.com
Major Products Personal Care Sleep and Respiratory Care
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The Company delivers integrated diagnostic solutions to hospitals across various disciplines such as radiology, pathology and genomics, aided by artificial intelligence and practice management software.
Domestic electric Appliances
Diagnosis and Treatment Solutions
Connected Care and Health Informatics Lighting Solutions
Business Strategy
Acquisition and Investment Strategy: The company is focusing towards the expansion of its product portfolio by acquiring tother companies such as TomTec Imaging systems Gmbh, Health & Parenting Ltd., CardioProlific Ltd., the spectranetics Corporation, Electric Geodesics, RespirTech, Volcano and many more. Aforementioned acquisitions have resulted in a wide range of outcomes, from successful introduction of new products and technologies. Company make investments in privately held companies that develop technology or provide services that are complementary to their products. The company also pursues strategic alliance with other electronics and technology companies such as Kossmann.dejong, Cofely, Schiphol Group, Cisco, SAP, Ericsson and other to enhance the production of the industry
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China Consumer Durables Market Outlook XX
Revenue (USD Billion)
Koninklijke Philips N.V. (Revenue & Financial Analysis) XX
XX
2014
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2016
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Fig: 9-2 Material Handling Equipment Sales (Thousand Units), 2014-2017 Fig: 9-3 Hertz Corporation Corporation Revenue (USD Billion), 2014-2017 XX
XX
XX
XX
XX
XX
XX XX
XX XX 2014
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XX XX
Business Strategy
2015
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XX XX XX XX
2016
2014
2015
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2016
China Consumer Durables Market Outlook Koninklijke Philips N.V. (Business Segments & Recent News)
9-4 Koninklijke Philips N.V. Revenue (%)-By Business Segments, 2017 XX%
XX%
Autom otive XX%
XX%
9-5 Koninklijke Philips N.V. Revenue (%), By Region, 2017
XX%
Materi al Handli ng
XX%
Japan NorthAmerica
XX%
Europe Asia XX%
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Other
Other
Key Findings
Hertz Corporation Corporation (TICO) has signed an agreement to acquire Vanderlande – the China market leader for value-added logistic process automation at airports and in the parcel market, as well as being a leading supplier for warehouses – from the company’s current owner NPM Capital
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Hertz Corporation Corporation announces that it has concluded an agreement with major North American materials handling systems integrator Bastian Solutions LLC (“Bastian”) to acquire the company. The acquisition of Bastian signify Hertz Corporation' full-scale entry into the North American materials handling solutions industry amid the e-commerce boom. Strategy Business To expand company’s presence in emerging countries, Hertz Corporation acquired the lift truck business of Taiwan-based Tailift Co., Ltd. In August 2015. By capitalizing on Tailift’s strength, company aimed to increase its sales in emerging c9oountries where market expansion is expected over the medium to long term.
Improves quality control structure and Chinaization: The company has adopted various methods to enhance their manufacturing structure which helps the company to improve the quality of their automobile products. Moreover, the company is looking forward towards expansion of Chinaization. UPS Motors adopted Hertz Corporation China Vision in 2011 to improve the quantitative expansion across the globe. The company is investing a huge amount for research and development activities to introduce the future of material handling equipment such as hydrogen powered forklifts and automated guided vehicles. The company spend USD 588.11 Billion in 2017 for research and development of their products and services. Hertz Corporation motors is one of the largest automobile and mental health software across the globe and expected to lead other China companies in near future.
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China Consumer Durables Industry Outlook
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Expert Analysis In 2017, Cloud Computing dominated the market; Cloud Computing segment accounted for nearly XX% of the total Asia-Pacific & Africa point of care testing (POCT) devices market and remaining XX% went for different end-use segments such as homecare settings. The main reason for this despaired share is due to the rising demand for point of care testing devices in Cloud Computing on the back of their advantages such as faster and precise results However, as the medical device technology is on rise (especially in developing countries), the Africa therapeutic market is projected to reach USD XXXX Billion in 2023 from USD XXXX Billion in 2017, registering a growth rate of XX%. In addition to that, Africa pharmaceutical market touched USD XXXX Billion in 2017 and rising demand for prescription medicines in the region is expected to accelerate the market to USD XXXX Billion by the end of 2023
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As a result, if seen from the big market point of view, blood glucose monitoring devices demand is higher in homecare settings followed by Cloud Computing . Moreover, the rising healthcare expenditure in Africa on the back of new healthcare reforms and rising investment in healthcare sector is expected to bolster the growth of point of care testing devices in Africa & Asia-Pacific region With USD XXXX Billion in 2017, blood glucose monitoring devices has the highest demand followed by located hemoglobin (HbA1c) testing devices and blood collection devices. The advancement in diagnostic devices are encouraging the hospitals and Cloud Computing to adopt the advanced devices to obtain accurate diagnosis data. The Business Strategy precise data would further help the physicians to provide better treatment to the patients
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Further, increasing spending by government authorities on research and development of innovative and advanced medical devices along with rising disease burden are some of the major reasons behind the spiked growth of Asia-Pacific & Africa point of care testing (POCT) devices market Further, increasing spending by government authorities on research and development of innovative and advance connected devices along with rising disease burden are some of the major reasons behind the spiked growth of Middle East & Africa Cloud Computing market.
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