Development Trends of China's Industrial Electrical Industry

Development Trends of China's Industrial Electrical Industry

Last time, we have share something about the development status of China's industrial electrical industry. And today, let’s continue this topic to talk about the trends in the future.

The analysis of the electrical industry indicated that electrical enterprises in China started late and the product scope of these enterprises is also narrow since the small-scale peasant economy dominated the market in China before the reform and opening up. Although the proportion of the tertiary industry in the national economy is more and more large since the reform and opening up and the service industry develops rapidly, the development of the electrical industry is relatively slow because of its regional limitation.

With the expansion of the market of the electrical industry in China, some leading international enterprises such as Rexel, Sonepar, and WESCO have entered China. Compared with these enterprises, China’s electrical enterprises have gaps in the business models, management systems, and market operation. However, with the continuous development of the industry, these gaps are slowly narrowing.

In China, the development of the electrical industry is related to the scale of industrial electrical products. The main market is still concentrated in developed regions such as East China, South China (where Yuelong is located), and North China. In recent years, the economic development of China has been rapid, and the investment in fixed assets has kept a high growth rate, which has led to the development of projects in transportation, metallurgy, energy, machinery, and so on. And industrial electrical products, as one of the supporting industries of such industries, have been growing rapidly in recent years.

With the development of the market, the competition in the field of electrical products becomes more and more fierce. In addition to the internal competition in the electrical industry, some manufacturers of system integration, complete equipment and machinery have also joined the ranks of competition, which has promoted the mode innovation of the electrical industry, and the mode of providing electrical solutions has come into being.

With the development of the global economy, the quality of life of residents is gradually improved, and the demand for electricity consumption is also increasing day by day. In 2013, China exported $1,264.7 billion of mechanical and electrical products, up 7.23% year on year. In addition, about 1.6 billion people around the world currently lack access to electricity, and as welfare improves, this population will gradually have access to electricity. Therefore, global electricity consumption will continue to grow. It is expected that global electricity consumption will double in 2030 compared with 2010, which will bring a large international market demand for low-voltage electrical products.

Being in the electrical industry for more than 15 years, Yuelong always keeps an eye on development trends of this industry in the future so that we can make adjustments and launch new products in time. Our waterproof connectors are widely used in different industrial environments, such as urban outdoor lighting, lighthouses, pleasure boats, aviation, industrial equipment, cables, sprinklers and so on currently and will also have more extensive applications in the future.

Feel free to visit https://ylelectronic.en.alibaba.com/ to check the whole lists of all our abundant products.