- Market Size: Globally, the overall market size of low-voltage electrical appliances is on a growing trend, which was 411.5 billion yuan in 2023 and is expected to reach 428.8 billion yuan in 2024. In China, the market size of low-voltage electrical appliances fluctuates within a certain range, and it is expected that the market size of low-voltage electrical appliances industry is expected to exceed 85.4 billion yuan in 2024, of which the market size of power distribution electrical appliances accounts for a large proportion of the market, accounting for about 48%.
- Policy environment: The National Energy Administration issued the Implementation Plan for the Action of High-Quality Development of Distribution Grid (2024-2027) to promote the high-quality development of distribution grid, including making up for the short board of power supply, improving the level of intelligence, perfecting the mechanism of coordinated development, improving the management system, and formulating and revising standards.
- Technology development: Intellectualization has become an important trend, realizing remote monitoring, fault diagnosis, automatic control and other functions of low-voltage electrical appliances by combining with artificial intelligence, big data, cloud computing and other technologies. Internet of Things technology connects low-voltage appliances with the Internet to realize remote control and data sharing. The development of new energy technology brings new opportunities for the application of low-voltage power distribution in the field of solar energy, wind energy and other new energy.
- Competitive landscape: Europe is the largest market in the global low-voltage power distribution system market, accounting for about 53%, and Asia-Pacific and North America account for about 43%. The top three vendors account for about 39% of the market share. In China's low-voltage electrical appliances market is highly competitive, and the head enterprises have strong competitiveness, such as the market size of the top-ranked enterprises in 2023 were 13.14 billion yuan (accounting for 15.5%), 12.80 billion yuan (accounting for 15.1%) and so on.
- Applications: Widely used in construction industry, industrial projects, power generation and grids, industrial OEMs, infrastructure, etc., of which the construction industry accounts for a relatively large share of the low-voltage electrical appliances market, accounting for 29% in 2023.
Post time: Jan-16-2025