The idea that opportunities and challenges co-exist together in the ventilation market was a key message at the recent China Ventilation Industry Fortune Summit.
Co-hosted by Modern Household Appliance Magazine and Xdjd.cn, the event was staged in Beijing on May 25 2017, attracting more than 400 members from industry, research institutions, famous brands and domestic dealers and coinciding with the release of a new study.
More than 10 expert speakers interpreted the current situation and trends within the ventilation and purification market and predicted the business potentials of the market segmentation using the 'internet mindset' and encouraging innovation.
Fresh air and purification has become a big concern in China and boasts a promising market potential, but market concentration is not high and there are no emerging dominant brands as yet. For the household ventilation market, brands and channels are quite dispersed, with nobody knowing the magnitude of this industry or offering accurate statistics.
Angela Yu, general manager at BSRIA Asia commented: “The ventilation industry is a hot topic in China. Taking into account several elements, including market growth and penetration, customers’ recognition, price, profit, cost and risks and dealers’ confidence, the ventilation industry is in a phase of fast growth.
“BSRIA has published a major study on a wide range of ventilation products, including household and commercial fans as well as household and commercial ventilation appliances. ‘Ventilation appliance’ is a term unique to China and has no equivalent expression in other regions.
“Given that there are no clear definitions in the market place, BSRIA has created its own industry definitions to allow for full analysis and trends of the market to be identified.
'Clearly, the ventilation market has great potential and opportunities in China. But there are differing challenges for the different technologies to be faced to maximise full market potential.”