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Shangpu Consulting: Current Situation and Development Prospect of Relay Protection and Automation Equipment Industry in 2023

2024-08-02 10:10:53 Source: Champ Consulting Visits:0

1. market size

According to data from Shangpu Consulting Group, the market size of China's relay protection and automation equipment is expected to reach about 60 billion billion yuan in 2023, an increase of about 15% year-on-year. Among them, the market size of relay protection equipment is about 30 billion yuan, an increase of about 10% year-on-year; the market size of automation equipment is about 30 billion yuan, an increase of about 20% year-on-year.

The growth of the market size is mainly due to the following factors:

The country's continuous investment in the construction and transformation of power infrastructure, especially in the fields of new energy, smart grid, and UHV, has driven the growth of demand for relay protection and automation equipment.

The state attaches great importance to the safe and stable operation of the power system, strengthens the technical standards and quality supervision of relay protection and automation equipment, and promotes the upgrading and innovative development of industry products.

The country's positive response to energy conservation, emission reduction and carbon neutrality goals has promoted the transformation of the power system to a low-carbon, efficient and intelligent direction, and increased the functional requirements and technical difficulties of relay protection and automation equipment.

2. market structure

According to the data of Shangpu Consulting Group, China's relay protection and automation equipment market in 2023 is divided according to product types. Digital relay protection equipment accounts for about 70%, analog relay protection equipment accounts for about 20%, and hybrid relay protection equipment accounts for about 10%. According to the division of application fields, the proportion of power transmission and transformation fields is about 60%, the proportion of power generation fields is about 20%, and the proportion of industrial fields is about 10%, other areas account for about 10%.

The characteristics of the market structure are mainly reflected in the following aspects:

Digital relay protection equipment with its high speed, high precision, high reliability, high flexibility and other advantages, gradually replaced the traditional analog and hybrid relay protection equipment, become the mainstream products in the market. Digital relay protection equipment also has the ability to seamlessly interface with automation equipment, enabling information sharing and functional collaboration.

The field of power transmission and transformation is the main application field of relay protection and automation equipment, and its demand and technical level are high. With the development of new power transmission and transformation technologies such as UHV and UHV, the performance requirements and technical difficulties of relay protection and automation equipment in the field of power transmission and transformation have also been continuously improved, which has promoted the innovation and upgrading of industry products.

The power generation field is an important application field of relay protection and automation equipment, and its demand and technical level are also high. With the rapid development of new energy power generation, the functional requirements and technical difficulties of relay protection and automation equipment in the field of power generation are also increasing, which promotes the diversification and intelligence of industry products.

3. market competition

According to data from Shangpu Consulting Group, the competitive landscape of China's relay protection and automation equipment market in 2023 presents the following characteristics:

The market concentration is relatively high. The market share of the top five manufacturers is about 60%. Among them, Guodian Nanrui, Siemens, Sifang, Xu Ji Electric and Siyuan Electric account for 20%, 15%, 10%, 8% and 7% respectively. These manufacturers have strong technical strength, brand influence, channel advantages and customer resources, and occupy a dominant position in the market.

The market competition is fierce, and the total market share of small and medium-sized manufacturers is about 40%. Among them, some manufacturers focus on subdivision or regional market, such as Huali instrument, Huafeng measurement and control, Tianjin Taier, etc., have formed a certain competitive advantage and market space through product differentiation and service optimization.

There are various ways of market competition. In addition to price competition, manufacturers also improve their market competitiveness and customer satisfaction through technological innovation, product upgrading, service upgrading, cooperation and expansion. At the same time, manufacturers are also facing challenges from foreign brands, such as Schneider and ABB, which have strong influence and competitiveness in the high-end market.

4. market trends

According to the data and analysis of Shangpu Consulting Group, China's relay protection and automation equipment market in 2023 showed the following trends:

The market demand continues to grow. With the country's continuous investment in the construction and transformation of power infrastructure, as well as the active response to energy conservation, emission reduction and carbon neutrality goals, the demand for the transformation of the power system to a low-carbon, efficient, and intelligent direction will continue to increase. This will drive the growth of demand for relay protection and automation equipment.

With the optimization and adjustment of the market structure, with the technological maturity and application promotion of digital relay protection equipment, as well as the improvement of the function and intelligence level of automation equipment, the market will gradually phase out backward analog and hybrid relay protection equipment to achieve digital, intelligent and networked transformation and upgrading.

Market competition intensifies diversification. With the strengthening of industry technical standards and quality supervision, as well as the improvement of customer demand and expectations, the market will put forward higher requirements and challenges for manufacturers. Manufacturers will improve their core competitiveness through continuous technological innovation, product upgrades, and service upgrades. At the same time, manufacturers will also expand market space and increase market share through cross-border cooperation and industrial chain integration.

5. market prospects

According to the data and analysis of Shangpu Consulting Group, China's relay protection and automation equipment market has a broad prospect in 2023. It is expected that by 2025, the market size will reach about 90 billion yuan, with an average annual compound growth rate of about 15%. The main drivers of the market outlook are:

The country's long-term planning and continuous investment in the construction and transformation of power infrastructure, especially the key development in the fields of new energy, smart grid, and UHV, will provide a stable market demand for relay protection and automation equipment.

The state's strategic attention and policy support for the safe and stable operation of the power system will promote the technological progress and quality improvement of relay protection and automation equipment, and improve the market competitiveness and customer recognition of industry products.

The country's firm implementation and effective implementation of energy conservation, emission reduction and carbon neutrality targets will promote the transformation of the power system to a low-carbon, efficient and intelligent direction, increase the functional requirements and technical difficulties of relay protection and automation equipment, and stimulate the innovation vitality of industry products.

Shangpu Consulting Group believes that the relay protection and automation equipment industry is an industry with broad development space and huge development potential, and it is also an industry facing many challenges and opportunities. Manufacturers should continue to carry out technological innovation, product upgrades, and service upgrades based on market demand and competition to improve their core competitiveness and market position. At the same time, manufacturers should also actively seek cross-border cooperation, industrial chain integration and other ways to expand market space and increase market share. Shangpu Consulting Group will continue to pay attention to the development trends and trends of the relay protection and automation equipment industry, and provide professional consulting services for related companies and investors.

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