February** Dynamic Incentive Program
In 2023, affected by the downturn in the real estate market and the fading of the dividend of the "coal-to-gas" policy, the wall-hung boiler, as a product with strong installation attributes, will move forward under pressure in the industry, and the annual shipment volume will decline slightly, but from the perspective of subdivided channels, there are large differences between channels. According to the total data of Aowei Cloud Network (**c), China's omni-channel shipments of wall-hung boilers will be 1.96 million units in 2023, a year-on-year decrease of 92%。Among them, retail channel shipments were 1.18 million units, a year-on-year increase of 142%, a good recovery; The decline in engineering channels increased, with conventional project shipments of 580,000 units, down 28 percent year-on-year4%；The shipment of coal-to-gas projects was 190,000 units, a year-on-year decrease of 372%, the market bottomed.
The retail channel has rebounded significantly, and various brands have begun to deploy in the retail replacement market. At present, the retail channel has become one of the important driving forces of the wall-hung boiler industry, and the retail volume has grown by double digits year-on-year; Although there was a slight decline in the third quarter, we can still see the resilience of market demand. With the release of stock demand in various regions, various wall-hung boiler brands have carried out frequent first-class activities in various places to win good market feedback.
From the perspective of channel structure, brands pay more attention to e-commerce platforms, while the role of social e-commerce and new channels is prominent. According to the monitoring data of Aowei Cloud Network (**c), the online retail volume in 2023 will be 1360,000 units, an increase of 8% year-on-year; Sales 9500 million yuan, a year-on-year increase of 67%。
From the perspective of the first structure, the high-end market of the wall-hung boiler category has grown significantly, and the overall first-class structure has continued to rise, and the high-end market has become an important growth point and competition point of the industry. According to the monitoring data of Aowei Cloud Network (**c), the retail sales of 6000+ ** segments of China's wall-hung boiler online market will account for 21 in 20238%, a year-on-year increase of 19 percentage points; The proportion of retail sales in the offline 10,000+ ** segment is 334%, a year-on-year increase of 72 percentage points. The structure to the middle and high-end is still the main line of the industry.
In 2023, the condensing furnace will achieve growth against the trend. At this stage, with the continuous deepening and implementation of the national "dual carbon" policy, although the coal-to-gas market is tightening, it has also promoted the condensing furnace to become the main product of the "dual carbon" and post-"coal-to-gas" replacement market. In addition, in the context of consumption upgrading, the rise of consumer groups that pursue quality and energy-saving needs has played a role in promoting the scale growth of condensing furnaces.
Intelligence is still the trend, with the continuous development of the Internet of Things and artificial intelligence technology, the wall-hung boiler industry will become more and more intelligent. For example, through the intelligent control system, consumers can remotely control the switch and temperature adjustment of the wall-hung boiler, improving the convenience and comfort of use. In addition, the wall-hung boiler can also be connected to the smart home system to achieve interconnection with other smart devices and improve the intelligence level of the overall home.
Under the transformation of the industry, the concentration of brands has also increased significantly, especially in the online market, according to the monitoring data of Aowei Cloud Network (**C), the retail sales of the top 10 online brands will account for 89 in 20235%, an increase of 6 year-on-year2 percentage points. In 2023, the retail sales of the top 10 offline brands will account for 889%, an increase of 2 year-on-year1 percentage point.
In the form of changing industry competition pattern, the future of China's wall-hung boiler market will gradually develop to the pattern of "retail-oriented, engineering-supplemented", "expanding the incremental excavation of stock, and changing to replacement". The all-round competitiveness of product quality, channel construction, and after-sales service will determine the future market position of the enterprise.