1. Power Industry Overview

The power supply industry refers to the industry that uses electricity as the driving force to convert electrical energy into different forms or parameters and provide it to various types of load equipment. According to the working principle and function, the power supply can be divided into transformers, rectifiers, inverters, voltage regulators, switching power supplies, uninterruptible power supplies (UPS) and other types. According to the application field, the power supply can be divided into communication power supply, industrial power supply, medical power supply, military power supply, automobile power supply and so on.

The power supply industry is an important part of the power system, providing stable, reliable and efficient power conversion and supply for various electronic devices. With the advancement of global economic development and energy transformation, the popularization and upgrading of electronic equipment, as well as the rapid growth of new energy vehicles, data centers, intelligent networking and other emerging fields, the demand and quality of power supply have put forward higher requirements, and promoted the sustainable development and innovation of the power supply industry.

2. Global and China Market Size

According to data from the Champ Consulting Group,2022The global power market size reached1397Billions of dollars, expected2028The year will reach1920Billion US dollars, compound annual growth rate (CAGR)5.4%（2023-2028). Among them, uninterruptible power supply (UPS) market size reached138Billions of dollars, expected2028The year will reach192Billions of dollars.

At a regional level, North America is the world's largest power market, accounting for approximately30%market share, mainly benefiting from demand in data centers, medical equipment and other areas. Europe is the second largest power market in the world, accounting for about25%market share, mainly benefiting from demand in areas such as new energy vehicles and industrial automation. Asia Pacific is the fastest growing power market in the world, accounting for about20%market share, mainly benefiting from demand in communications base stations, consumer electronics and other areas.

According to data from the Champ Consulting Group,2021Installed Power of Energy Storage Market in China43.44 GW, ranked first in the world (accounting21.2%). Among them, the installed power of pumped storage37.57 GW, percentage86.5%; Installed power of electrochemical energy storage5117.1 MW, percentage11.8%; Installed power of heat storage and cold storage561.7 MW, percentage1.3%; percentage of installed power of other energy storage technologies (here compressed air and flywheel energy storage)0.4%。2021In the Chinese electrochemical energy storage market, new energy+Energy storage, power-side auxiliary services, grid-side energy storage, distributed and micro-grid, user-side peak-cutting and valley-filling various scenarios power installation scale is respectively.837.5 MW(Proportion45.4%）、532.3 MW(Proportion28.9%） 、401.0 MW(Proportion21.7%） 、28.0 MW(Proportion1.5%） 、45.8 MW(Proportion2.5%), the number of various scene items is40、18、12、42、19。

3. technology development

The technological development of the power industry is mainly reflected in the following aspects:

（1) High efficiency and energy saving. With the global emphasis on energy conservation and emission reduction, the power supply industry is constantly improving the conversion efficiency of power supply and reducing the loss of power supply. For example, the efficiency of switching power supplies has reached90%Above, the efficiency of the uninterruptible power supply has also reached95%Above. At the same time, the power industry is also developing new topologies and control strategies to achieve higher power density and lower switching losses.

（2) Intelligent. With the application of Internet of things, cloud computing, big data and other technologies, the power industry is also using intelligent technology to improve the performance and reliability of power supply. For example, through the intelligent monitoring and management system, it can monitor and control the working status of the power supply in real time, predict and diagnose faults, optimize and adjust output parameters, and improve the stability and adaptability of the power supply. At the same time, through intelligent interconnection and remote control, multiple power supplies can work together to improve the flexibility and scalability of the power supply.

（3) Modular. With the increasing demand for personalization and customization of power supplies in the market, the power supply industry is also adopting modular design to meet the needs of different customers. For example, through the modular design, the power supply can be quickly installed and replaced, reducing maintenance costs and time. At the same time, through the modular design, the flexible configuration and expansion of the power supply can be realized, and the adaptability and compatibility of the power supply can be improved.

4. Application Areas

The application areas of the power industry mainly include the following aspects:

（1) Communication field. The communication field is one of the important application fields of the power industry, mainly including the power supply of communication base stations, data centers, optical fiber networks and other equipment. In the field of communication, the demand for power supply is large and stable, and the quality of power supply is high. In the field of communication, switching power supply and uninterruptible power supply are mainly used to ensure the normal operation of communication equipment.

（2) in the industrial sector. The industrial field is one of the important application fields of the power industry, mainly including industrial automation, robots, CNC machine tools and other equipment power supply. In the industrial field, the demand for power supply is large and diversified, and the performance requirements of power supply are high.

（3) medical field. The medical field is one of the important application fields of the power supply industry, mainly including the power supply of medical equipment, medical equipment, medical equipment and other equipment. The demand for power supplies in the medical field is large and growing, and the safety and reliability of power supplies are extremely high. The medical field mainly uses isolated switching power supply, medical uninterruptible power supply and other technologies to ensure the precise control and safe operation of medical equipment.

（4) military field. The military field is one of the important application fields of the power supply industry, mainly including the power supply of military equipment, weapon systems, radar systems and other equipment. The demand for power supply in the military field is large and complex, and the performance and reliability of the power supply are extremely high. The military field mainly uses military switching power supply, military uninterruptible power supply and other technologies to ensure the efficient operation of military equipment and anti-interference ability.

（5) Automotive sector. The automotive field is one of the important application fields of the power supply industry, mainly including the power supply of traditional vehicles, new energy vehicles, intelligent network vehicles and other equipment. The demand for power supplies in the automotive sector is large and growing rapidly, and requires high efficiency and compatibility of power supplies. The automotive field mainly uses technologies such as on-board switching power supplies, on-board inverters, and on-board chargers to ensure stable power supply and intelligent management of automotive equipment.

Major 5. Manufacturers

The top ten global power supply manufacturers in 2022 are:

Emerson (USA (Emerson Electric Co.）

Hitachi, Japan (Hitachi Ltd.）

Honeywell (USA (Honeywell International Inc.）

General Electric (General Electric Co.）

American Schneider (Schneider Electric SE）

SwitzerlandABB（ABB Ltd.）

German Siemens (Siemens AG）

Japan's Mitsubishi (Mitsubishi Electric Corp.）

American Delta (Delta Electronics Inc.）

China's Huawei (Huawei Technologies Co. Ltd.）

The top ten power supply manufacturers in China in 2022 are:

HUAWEI TECHNOLOGY CO., LTD

ZTE CORPORATION LIMITED

Dongfang Electric Group Co., Ltd.

Hanergy Holding Group Limited

Goldwind Technology Co., Ltd.

Great Wall Technology Co., Ltd.

Zhongda Electric Co., Ltd.

Bozhilin Technology Co., Ltd.

Xi'an Aerospace Power Co., Ltd.

Shenzhen Kelu Electronics Co., Ltd.

6.2023Annual Outlook and Recommendations

according to the champ consulting group,2023It is a year full of opportunities and challenges. For the power supply industry, it is necessary to strengthen international cooperation and global layout to improve the technical level, expand market space and enhance competitiveness. Specifically, we make the following recommendations:

（1) Strengthen technological innovation and standard-setting. The power supply industry needs to continuously promote technological innovation to improve the efficiency, performance, safety and intelligence of power supplies to meet the needs of different fields. At the same time, the power industry needs to participate in the formulation and promotion of international standards, promote the interoperability and compatibility of power supplies, and reduce technical barriers and market barriers.

（2) Strengthen market development and brand building. The power supply industry needs to actively explore the international market, especially the fast-growing regions such as Asia-Pacific and Europe, and use its own technical and cost advantages to provide high-quality and cost-effective products and services. At the same time, the power industry needs to strengthen brand building and promotion, enhance international reputation and reputation, and establish a good corporate image and social responsibility.

（3) Strengthen cooperation partners and industry chain integration. The power supply industry needs to establish close cooperative relations with upstream and downstream enterprises, research institutions, government departments, etc., to share resources, information, technology and markets to achieve mutual benefit and win-win results. At the same time, the power industry needs to optimize the layout and structure of the industrial chain, improve the synergy efficiency and value creation ability of the industrial chain, and form a competitive industrial cluster and ecosystem.

（4) Strengthen risk management and address challenges. The power supply industry needs to pay attention to the changes in the international situation, deal with the possible impact of trade frictions, exchange rate fluctuations, political conflicts, etc., and formulate emergency plans and countermeasures to ensure the stability of production and operation. At the same time, the power industry needs to pay attention to the requirements of environmental protection, social responsibility, and user satisfaction, continuously improve product quality and service levels, and enhance social recognition and trust.