Electrical Equipment Industry: Analysis of Development Trends and Future Directions 2024. 1 article amazing makes it clear!

Electrical Equipment Industry: energy transformation and Technological innovation in the New Era

The electrical equipment industry is a huge industrial field, including many different types of equipment, such as power generation equipment, transformers, switchgear, controllers, wires and cables, etc. The industry’s main products and services play a role in all aspects of the power system, including power generation, transmission, distribution, and consumption.

The “dual carbon” development strategy is superimposed on the expectation of “stabilizing growth and expanding domestic demand”. The construction of a new power system has entered an important stage of comprehensive launch and acceleration. The total investment continues to grow, and the industrial chain has a significant effect. Power investment has become an important factor in stabilizing the economy and expanding domestic demand. One of the important means is the scale of power grid investment in 2024 is expected to be no less than 580 billion yuan.

At the same time, combined with the State Grid and China Southern Power Grid’s new power system action plans, from 2021 to 2030, the two networks will focus on clean power generation, smart transmission, smart distribution, improving the digital level of the power grid, and building a unified and coordinated control system. The development of the power and electrical equipment manufacturing industries downstream of the industrial chain has continued to drive the development, and market segments such as UHV power transmission and intelligent power transformation and distribution have entered a period of rapid development opportunities.

Electrical equipment refers to various devices that can convert, distribute, and control electrical energy. For example, the principle of a transformer is to use electromagnetic induction to increase and decrease voltage. The electrical equipment industry is an industry whose main content is the production and sales of various electrical equipment. These equipment include power generation equipment, transmission and distribution equipment, switchgear, transformers, motors, cables, etc.

The electrical equipment industry has a wide range of product types, mainly including the following categories:

  1. Power generation equipment: including gas turbines, steam turbines, hydraulic turbines, etc.
  2. Power transmission and distribution equipment: including transformers, circuit breakers, switches, isolating switches, etc.
  3. Control equipment: including motors, cables, electronic components, etc.
  4. Power supply equipment: including batteries, inverters, voltage regulators, etc.

The electrical equipment industry has a wide range of applications, including electric power, transportation, communications, medical care, industry, construction, and other fields. Among them, the electric power field is the main application field of electrical equipment, including power generation, power transmission and distribution, selection of transformer capacity, and construction of power lines. and maintenance, etc.

According to the analysis of the research report “China Electrical Equipment Industry Market In-depth Research and Investment Strategy Forecast Report 2024-2029” by China Yan Puhua Industrial Institute

The electrical equipment industry is huge and covers a wide range of fields. According to statistics, the total output value of the global electrical equipment industry has continued to grow in recent years and is expected to maintain a steady growth trend in the next few years. Especially in developing countries and emerging markets, due to the continuous growth of power demand, the demand for electrical equipment is also rising, providing huge opportunities for the development of the industry.

The Electrical Equipment Industry is experiencing rapid technological advancements
The Electrical Equipment Industry is experiencing rapid technological advancements

The electric power and electrical equipment manufacturing industry is one of the important equipment industries in the development of the national economy. The prosperity of the industry is closely related to the development of the electric power industry and is greatly affected by the national economy and electric power investment demand.

The power and electrical equipment manufacturing industry is located in the middle reaches of the industrial chain, with a large number of small and medium-sized enterprises and fierce competition. As the voltage level increases, the industry competition pattern is distributed in a pyramid shape, that is, the higher the voltage level, the stronger the technical barriers, and the more obvious the competitive advantages of leading companies. Enterprises in the industry have weak bargaining power with upstream and downstream companies, limited ability to pass on costs, and accounts receivable and inventory significantly occupy corporate funds; diversified products and services can help stabilize corporate earnings volatility.

future direction

In the future, the electrical equipment industry will continue to develop and market demand will continue to grow. With the development of science and technology, the degree of automation and intelligence of electrical equipment will continue to increase. At the same time, environmental protection, energy saving, and other issues will also become the main development direction of the electrical equipment industry in the future.

Intelligent development: With the rapid development of technologies such as the Internet of Things, cloud computing, and artificial intelligence, electrical equipment will have intelligent and automated functions, and can realize intelligent monitoring, remote operation, and data analysis. This will improve the operating efficiency and safety of electrical equipment, reduce operation and maintenance costs, and provide enterprises with more valuable data and information.

Sustainable development: Environmental protection and sustainable development have become important trends in the electrical equipment industry. In the future, electrical equipment will pay more attention to energy conservation, emission reduction, and resource recycling, and the momentum of the transition to clean energy will also be further strengthened. This will help promote the optimization of the global energy structure and the improvement of the ecological environment. It is worth noting that the optimization of the transformer maintenance cycle will also become key, which will not only improve the operating efficiency of the equipment but also Reduce energy waste and environmental impact during maintenance.

The rise of emerging markets: With the development of the global economy, the demand in some emerging markets is gradually rising. Especially in some developing countries, the electrical equipment industry has huge market potential. In the future, emerging markets will become an important driving force for industry development and provide more business opportunities for electrical equipment companies.

The electrical equipment industry research report aims to start from the national economic and industrial development strategy, analyze the future policy direction of electrical equipment and the development trend of the regulatory system, tap the market potential of the electrical equipment industry, and provide in-depth research based on key market segments. It vividly depicts market changes from multiple perspectives such as industrial scale, industrial structure, regional structure, market competition, and industrial profitability levels, and clarifies the direction of development.

Global demand for products from the Electrical Equipment Industry is steadily increasing
Global demand for products from the Electrical Equipment Industry is steadily increasing