Home / News / News / Under the new pattern of “double cycle”, China’s low-voltage electrical appliance industry will be promoted to green and intelligent transformation

Under the new pattern of “double cycle”, China’s low-voltage electrical appliance industry will be promoted to green and intelligent transformation

Author: Site Editor     Publish Time: 2019-06-03      Origin: Site

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Low-voltage electrical appliances are components or equipment that can manually or automatically switch on and off circuits according to external signals and requirements to realize the switching, control, protection, detection, transformation and adjustment of circuits or non-electric objects. In the near future, in order to promote the rapid development of all aspects of our country, a “new development pattern with domestic and international double cycles as the mainstay and mutual promotion of domestic and international double cycles” (double cycles) has been formed. It is mentioned in the 14th Five-Year Plan that the low-voltage electrical appliance industry will expand the scale of circulation, improve circulation efficiency, and reduce circulation costs through the establishment of modern high-quality production advantages. It is bound to benefit from the demand for low carbon emission reduction and cost reduction and efficiency enhancement. Will promote the green and intelligent transformation of the industry.

In order to promote the development of China’s low-voltage electrical appliance industry, relevant Chinese departments have formulated a series of laws, regulations and policies to support the development of the industry. In March 2021, the “Fourteenth Five-Year Plan and 2035 Vision Goals Outline” was released, which mentioned the need to cultivate and expand emerging digital industries such as artificial intelligence, big data, blockchain, cloud computing, and network security, and upgrade communication equipment and core The industrial level of electronic components and key software.

With the economic recovery after the epidemic, the beginning of the “14th Five-Year Plan”, “dual carbon”, digitalization and other major trends, China’s real estate, industry, power grid, and infrastructure have all shown a strong growth trend. According to data, China’s low-voltage electrical appliance market will reach 86.2 billion yuan in 2020, an increase of 6.42% year-on-year compared to 2019; it is expected that China’s low-voltage electrical appliance market will reach 92.1 billion yuan in 2021.

From the perspective of the market share distribution of China’s low-voltage electrical appliances segment, the market share of China’s construction industry in 2020 is 32.6 billion yuan, ranking first with 38%; the second is industrial projects, with a market share of 16.3 billion yuan, accounting for Up to 19%.

According to the “Analysis Report of China’s Low-Voltage Electrical Apparatus Industry in 2021-Industry Status Quo Survey and Future Trends Research” released by the Guanyan Report Network, low-voltage electrical appliances enterprises are divided into 5 echelons according to their size, with the first level being 10-15 billion enterprises , Mainly includes Schneider and Chint. Both companies occupy a large share in the construction industry. In other fields, Schneider’s advantageous industries are concentrated in infrastructure, industry and industrial OEM, while Chint is developing more industries in parallel. According to data, Schneider ranks first in market share, with a market share of 15%; Chint is the second with a market share of 14%.

In recent years, China’s low-voltage electrical products import and export trade has been relatively stable. According to data, China’s exports of low-voltage electrical appliances in 2020 reached US$17.38 billion, a year-on-year increase of 6.95% compared to 2019; imports reached US$14.95 billion, a year-on-year increase of 2.26% compared to 2019.

At present, Hong Kong, the United States, Vietnam, Japan and Germany are China’s top five export destinations for low-voltage electrical appliances. According to information released by the Guanyan Report Network, in 2020, China’s low-voltage electrical appliances will be mainly exported to Hong Kong, China, accounting for 23% of the total export value; followed by the United States, accounting for 14% of the total export value; Vietnam accounted for 8% of the total export value, ranking third.

Double carbon is already a national goal. Although specific policies have not yet been implemented, there is no doubt about the huge government impetus that will take place. In the future, China’s low-voltage electrical appliance industry will develop into domestically-made alternatives to provide new opportunities for local companies, upgrade and transform the power grid to drive market demand in the industry, and develop into green and intelligent transformation.

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