In this issue, we will analyze Gewu Zhisheng's "2022 White Paper on China's Low-voltage Electrical Appliances Market", study the development of the low-voltage electrical appliances market from the perspective of regions and channels, and predict the future development trend.
Market scale of low-voltage electrical appliances in China
Regional subdivision
The northwest, southwest, and central China regions are limited by the size of the economy and regional industries, and the market scale is small; In the future, the low-voltage electrical appliance market will maintain rapid growth, with an expected growth rate of more than 4%, under the policy inclination and the promotion of regional urbanization and industrialization.
South China, North China and East China are the main regions with relatively large market volume; In the context of a good economy, the overall market growth rate is expected to be 3% - 3.5% in the future.
Northeast China is subject to the economic structure, the main industry depends on heavy industry, the economic structure is single, and the overall performance growth rate in the future is about 2.6%.
Market scale of low-voltage electrical appliances in China - subregion - 20112022026E
(100 million yuan)
Market scale of low-voltage electrical appliances in China
Channel segmentation
Channel performance
The circulation of low-voltage electrical products is mainly distributed through distribution channels, accounting for nearly 90% of the performance. Most agents are mainly responsible for logistics and financing, while a few agents have the ability to develop projects.
In order to cope with the intensified competition in the key customer market, some brands have gradually established and strengthened their industry teams to consolidate and enhance market share.
China's low-voltage electrical appliance market channel size - direct sales/distribution - 2021
(100 million yuan)
Data source: Siwu Zhisheng Sorting
Domestic panel factories are mainly provided by agents. With the intensification of competition, various mainstream manufacturers have set up service teams for panel factories, such as Delixi and Chint, which have successively set up panel factory teams after 2018 to expand relevant businesses.
Panel manufacturers are greatly affected by economic fluctuations and have weak profitability. In response to operational pressures, large panel manufacturers have undertaken business transformation, including vertical business extension and digital reform.
Channel scale of China's low-voltage electrical appliance market - panel factory/non-panel factory - 2021
(100 million yuan)
Data source: Siwu Zhisheng Sorting
The intelligent distribution market is still in its infancy and has a high technical threshold. It is mainly sold in the form of system solutions, in which EPC/SI plays an important role. With the rapid development of intelligent power distribution, EPC/SI will usher in a period of rapid development.
With the rapid development of the mobile internet industry, e-commerce, as a relatively advanced industry, has risen and developed rapidly in China. Some downstream enterprise users have also begun to purchase low-voltage electrical products online.
With the rapid introduction of B2B procurement model in e-commerce channels, e-commerce platforms have gradually increased their efforts to launch and promote low-voltage electrical products.
China's low-voltage electrical appliance market sub-channel scale - e-commerce/non-e-commerce - 2021
(100 million yuan)
Data source: Siwu Zhisheng Sorting
E-commerce channel
In 2021, the distribution channel performance of low-voltage electrical appliances e-commerce reached 6.91 billion yuan, up 27.5% year on year.
E-commerce channel scale of China's low-voltage electrical appliance market - 2021
(100 million yuan)
Note: Other platforms include Guoneng e-purchase, Huadian Mall, Xiyu, etc.
Data source: Siwu Zhisheng Sorting
In the procurement of target products, terminal products are easier to be purchased through online channels, while the complete set of products of the project is more difficult to achieve online procurement due to the limitation of non-standard demand.
In addition, some downstream users, such as State Grid, State Railway and Huadian, also began to build their own e-commerce trading platform to standardize the procurement process and improve the procurement efficiency.
The B2C e-commerce business platform end is mainly dominated by Tmall&Taobao and JD.com. These two platforms rely on a large number of end users and the platform brand effect accumulated over the years, and gather most of the C-end traffic for online procurement.
B2B power plant business platform mainly includes 1688 e-commerce platform, JD Industrial Products, Zhenkunxing, etc. Among them, 1688 e-commerce platform provides nearly the whole industrial chain supply services from raw material procurement, production processing, spot wholesale, etc. through professional operation. With the increasing penetration of online procurement in the B2B field, the e-commerce platform has ushered in new development dividends.
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