From the industry application classification of low-voltage electrical appliances:

In the general market, the industry and power grid in infrastructure construction maintain medium-low speed growth, investment in the real estate industry has declined rapidly, the new construction area has declined sharply, and it is still in the downward channel in the short term.

The growth rate of the new infrastructure industry in the professional market is relatively stable, and the growth rate is maintained between 10% and 40%; The growth rate of the new energy industry continues to increase, reaching 50% to 210%, and the global share of domestic enterprises has also increased significantly.

DM-103VA From the overall application proportion, the professional market has basically approached 50%, and the balance time point is rapidly moving forward, and it will gradually transition to a market pattern dominated by special products. The demand for low-voltage appliances in the general market declined by about 6.4% in 2023, and the demand for low-voltage appliances in the professional market increased by 14.7% in 2023.

2Power grid market demand characteristics

In 2023, the new investment in power engineering (including power supply engineering and grid engineering) will reach 1.495 billion yuan, up 18.6% year on year.

From the power side, the overall investment has increased, new energy sustained rapid growth led by the obvious, power engineering as a whole increased by 30.1% year-on-year. From the perspective of power generation structure on the power side, thermal power is still the main contributor to power generation.

DM-103VA

From the power grid side, from 2018 to 2023, with the end of a round of UHV and rural grid transformation, the power grid investment has basically remained stable.

From the point of view of the matching of power supply and power grid, 90% of the power investment is non-fossil energy, the absorption pressure is increasing year by year, and the power grid, especially the power distribution side, has gradually become a short board. With the rapid advancement of the new power system, the new distribution power system is expected to usher in a new round of growth cycle, significantly driving the growth of intelligent low-voltage electrical products.

DM-103VA 3Photovoltaic market demand characteristics

2023-2024, China’s new PV market will continue to maintain a high platform of 200+GW. Among them, the growth momentum of large base power station projects is particularly strong, and the new installed capacity is super-distributed, accounting for 55.6%. With the further decline of the price of modules and systems in the photovoltaic overseas market, the phenomenon of “quantity increase and price decrease” has gradually appeared.