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Analysis of the demand for customized home market

In the first half of 2018, the sales amount of CR10, CR50 and CR100 of real estate enterprises in China were 29.54%, 57.94% and 68.56% respectively, and the concentration of real estate sales area was 21.14%, 38.15% and 45.07%, respectively. The industry concentration was further enhanced. From the point of view of sales growth, the sales growth rates of TOP 10, TOP 50 and TOP 100 are 28.56%, 36.87% and 36.7% respectively, which greatly exceed the overall national sales growth rate of 13.2%. The growth gap of sales area is wider, and the growth rate of real estate sales area of TOP 50 is nearly 40 percentage points higher than the national average.

Market share of real estate sales in China

Data source: publicly available data collation

The National Real Estate Sales Amount

Market share of real estate sales area in China

National Real Estate Sales Area

2018H1, the matching rate of building materials such as cabinets, ceramic tiles, wooden floors, latex paint, indoor doors, switch sockets, etc. exceeds 95%, and the decoration of large-scale housing enterprises has already involved wardrobe components. In the first half of 2018, the penetration rate of fine decoration of domestic real estate was further improved. The number of newly opened projects in China was 804, a year-on-year increase of 31.2%; the scale of fine decoration market was 798,000, an increase of 49.7%. The real estate regulation and control policy has accelerated the proportion of real estate decoration market, and the scale of fine decoration market has grown rapidly. The custom-made home faucet with brand effect and the man-made panel leader with scale effect are expected to benefit.

Domestic fine decoration market share

Domestic fine decoration scale and year-on-year

In 2017, the domestic furniture industry market scale was 905.6 billion yuan, a year-on-year increase of 10%; the share of custom furniture in the furniture market is still small, and the proportion of customized furniture in the furniture market in China is less than 20%. In 2016, the national custom cabinet market scale was 112.5 billion yuan, up 12.5% year-on-year; the customized wardrobe market was 60.7 billion yuan, up 24.5% year-on-year; the total market size reached 173.2 billion yuan, superimposed custom wooden doors and other customized homes, the total scale of the industry It is estimated to reach 180 billion yuan.

Considering that the national furniture industry revenue in 2017 increased by only 10% year-on-year, the growth rate of customized homes greatly exceeded the overall market of furniture. In recent years, the market for custom cabinets and custom closets has risen rapidly, and the industry has entered a stage of rapid growth, which is constantly consuming the market share of the traditional finished furniture industry.

Domestic furniture industry main business income

 (100 million yuan)

Domestic custom home market scale (100 million yuan)

Customized furniture, as a dish adapted to consumers"new tastes, is grabbing the position of finished furniture in the menu of furniture industry, and its permeability is steadily increasing. Different types of subdivided furniture have different penetration with their development time and market acceptance: the penetration rate of the cabinet industry which started earlier is about 60%; the market acceptance of customized wardrobes has increased rapidly in recent years, and the penetration rate has soared to about 30%; while the penetration rate of other cabinets is less than 10%, which is still in the lead-in period.

However, at present, the permeability of customized furniture in the furniture industry in China is about 30%, compared with 60% to 70% in developed countries such as the United States and South Korea, there is still room for improvement.

China"s custom furniture penetration rate

China"s custom furniture penetration rate compared

with developed countries

The custom home penetration rate is low, the market concentration rate is low, and leading enterprises are expected to be strong and strong. At present, the penetration rate of domestic custom homes in the furniture industry is still low, the overall penetration rate is about 20%-30%; considering the different methods for estimating the market space of the industry, the penetration rate of the customized cabinet market is about 50%-60%, custom wardrobe The market penetration rate is about 20%-30%, and the potential of the customized home market is still large. From the perspective of industry concentration, the market share of custom cabinet CR3 is only 6.15%, and the market share of customized wardrobe CR3 is 14.04%. The customized home market is still scattered.

Customized home industry penetration rate

Customized home industry CR3 market share

China"s custom home market space forecast

At present, the market size of the customized furniture industry is about 70 billion yuan. According to the 1 markup rate, the scale of the ex-factory price of the industry is estimated to be about 35 billion yuan. It is expected that the growth rate of the custom furniture industry will maintain a growth rate of more than 20% in the next five years. In 2020, the industry scale will reach 166.6 billion yuan. Considering the demand of the rural market, the industry space is 200 billion yuan, and the ex-factory price is 100 billion.

Customized wardrobe industry market size measurement

 (terminal price caliber)

Article Source: China Industry Information Network