China: leading Chinese global home appliance brand builders 2024

Chinese home appliance producers Haier and Hisense continue to enhance their global presence. According to BrandZ's global brand builder evaluation in 2024, Haier received a brand power score of 649 points, just 18 points higher than the former Chinese industry champion Hisense.

The two exemplary Chinese brands

Both headquartered in Qingdao, Haier and Hisense share the same commitment to innovation, quality, and strategic expansion. The two place a significant emphasis on producing high-quality products with advanced technological features. Their robust research and development capabilities have allowed them to introduce cutting-edge products that meet the evolving demands of global consumers.

Different ladders to global prominence

The two appliance and electronic manufacturers differ in market focus, brand positioning, and acquisition strategy. While Haier has leveraged its broader product range and positioned itself as a premium brand, Hisense excels in the television market and offers strong value-for-money propositions. Furthermore, Haier's acquisition strategy has been more aggressive and high-profile, including the acquisition of GE Appliances in 2016. Hisense, while also active in acquisitions, has focused more on building its brand through organic growth and strategic partnerships.

Leading Chinese global home appliance product brand builders in 2024 (in BrandZ brand power scores)*

Characteristic	Brand power in BrandZ scores
Haier*	649
Hisense	631
TCL	490
Midea	226

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Release date

June 2024

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Region

China

Survey time period

2024

Supplementary notes

*Excluding the subsidiary brands of Haier Group.

To create the top Chinese global brand builders ranking list, 4-step methodology was created:
1. Eleven country markets with substantial future export potential were selected, and 15 product categories in which Chinese brands are active overseas were identified.
2. Initial 234 Chinese brands were selected and then filtered to include only those with relatively high awareness and consideration scores. This exercise yielded 150 Chinese brands. The Chinese brands met two eligibility criteria: each brand was originally created by a mainland China enterprise and each brand derives a portion of revenue from overseas business.
3. Three ingredients of Brand Power were calculated: Meaningful (meeting functional and emotional needs in relevant ways); Different (being distinctive or trend setting); and Salient (coming easily to mind in a buying situation). Brand Power is a BrandZ metric of brand equity, the predisposition of consumers to choose a particular brand.
4. The levels of awareness and consideration were leveraged to adjust for the impact that variations of category size and market competition have on the Brand Power scores of the Chinese brands.

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