Major listed companies in the industry: China Xidian (601179), TBEA (600089), Baochang Electric (600550), Pinggao Electric (600312), Zhengtai Electric (601877), Guangdian Electric (601616) and so on
Core of this article Data: China power transmission and distribution equipment industry chain, China power transmission and distribution equipment demand, etc.
Industry Overview
Definition: power transmission and distribution equipment covers a wide range of
Power transmission and distribution equipment according to the role of the equipment can be divided into primary equipment and secondary equipment. The primary equipment is mainly used for power transmission, including transformers, switches, transformers, insulators, surge arresters, etc.; secondary equipment is mainly used for the protection of power equipment measurement and control, including relays, measuring instruments, signaling equipment.
Industry chain analysis: downstream is mainly in the field of electricity
Transmission and distribution equipment industry chain upstream mainly includes steel, copper, components and other raw materials required for the production of transmission and distribution equipment; transmission and distribution equipment manufacturers can be divided into primary and secondary equipment manufacturers; transmission and distribution equipment downstream is mainly in the field of electricity, including power production, Power supply, rail transportation and so on.
Transmission and distribution equipment upstream raw material manufacturers, including the rise of Hui technology, silver nonferrous metals, northern copper, Baosteel Group, Baosteel Group and other raw material manufacturers; transmission and distribution equipment purchasers are mainly for the State Grid and the Southern Power Grid.
Industry development history: the industry continues to develop, is in the golden period of development
China's power transmission, distribution and control equipment manufacturing industry along with the development of China's power industry, began in the 1950s. Experienced a budding period, precipitation period, industry forming period and the golden period of development. 21st century, with the development of China's urbanization and accelerated construction, transmission and distribution and control equipment production has ushered in the golden period of development, China's power transmission and distribution and control equipment manufacturing technology and capacity in some
Sub-fields to reach the international leading level, transformers, complete sets of electrical switchgear, etc. Transmission and distribution and control equipment production capacity, output, voltage level and capacity of each performance has achieved a substantial increase.
Upstream supply: a wide range of raw materials
Transmission and distribution equipment, the main raw material for the silicon steel, silicon steel because of its complex production process, the production of rigorous technology, known as the steel products in the "crafts". Due to the continuous progress of China's steelmaking technology, the number of silicon steel production lines continue to increase, China's silicon steel supply can basically meet the domestic demand. 2013-2021, China's silicon steel production fluctuations in the overall rise in 2021 China's silicon steel production of about 13.28 million tons, an increase of 17.9%, of which about 1.8 million tons of oriented electrical steel, an increase of 14.26%; non-orientation of the steel about 11.38 million tons, an increase of 18.5%. 11.38 million tons, an increase of 18.5%.
Copper in the electrical and electronic industry in the most widely used, the largest amount, accounting for more than half of the total consumption. Used in a variety of cables and wires, capacitors and transformers winding resistance, switches and printed circuit boards. As one of the important raw materials for power transmission and distribution equipment, the supply and price trend of copper electrolytic directly affect the manufacturing cost of power transmission and distribution equipment.
From the domestic copper electrolytic production, 2012-2021 China's copper electrolytic production has maintained a more stable growth, the growth rate has slowed down. 2021, China's copper electrolytic production is 10.487 million tons, an increase of 7.4% year-on-year, a comprehensive view of the production of China's copper electrolytic has been to maintain a relatively stable growth trend, the growth rate in recent years has slowed down.
Aluminum and aluminum alloy is currently very widely used, one of the most affordable materials. Aluminum's conductivity is second only to silver, copper and gold, although its conductivity is only 2/3 of the copper, but the density is only 1/3 of the copper, so conveying the same amount of electricity, the quality of aluminum wire is only half of the copper wire. The oxide film on the surface of aluminum not only has the ability to resist corrosion, but also has a certain degree of insulation, so aluminum has a wide range of uses in the electrical appliance manufacturing industry, wire and cable industry and radio industry. In terms of domestic aluminum production, China's aluminum production fluctuated greatly from 2015 to 2021.In 2021, China's aluminum production was 61.052 million tons, an increase of 5.6% year-on-year.
Downstream application: power system construction is the main application area
Transmission, distribution and control equipment is mainly used in the national grid and provincial and municipal power grid companies, power generation enterprises, automobile manufacturing, metallurgy and chemical industry, rail transportation and other fields, the development of downstream industry directly determines the development of the transmission, distribution and control equipment manufacturing industry. Downstream customers generally in the first quarter of each year to develop the year's investment plan, followed by the successive organization and implementation, the industry business operations exist seasonal characteristics.
In 2014-2021, China's investment in power engineering construction showed fluctuating growth, as evidenced by the fact that in the first two years of the five-year plan, the amount of investment in power engineering construction was relatively high, and the amount of investment in power engineering in the subsequent years was relatively low, reflecting a certain cyclical character.In 2021, China's investment in power engineering construction amounted to 1,048.1 billion yuan, a year-on-year increase of 2.9%.
2017-2021, China's power supply capital construction investment completion overall year by year. 2020 China's power supply capital construction investment completion amounted to 524.4 billion yuan, an increase of 67% year-on-year; 2021 China's power supply capital construction investment completion amount further improved to 553 billion yuan, an increase of 5% year-on-year.
2017-2021, China's power grid engineering and construction investment completion of the overall first decline and then increase. 2020 China's power grid engineering and construction investment completion of 489.6 billion yuan, an increase of 1% year-on-year; 2021 China's power grid engineering and construction investment completion of 495.1 billion yuan, an increase of 1% year-on-year. Overall in the past three years China's power grid construction project investment completion amount of growth is relatively slow.
"Southern Power Grid" 14th Five-Year "Grid Development Plan" puts forward, the Southern Power Grid will plan to invest about 670 billion yuan, in order to accelerate the digital grid and modernize the grid construction process, to promote new energy as the main body of the new power system construction. Meanwhile, the State Grid announced that it will plan to invest about 350 billion U.S. dollars (about 2.23 trillion yuan) during the 14th Five-Year Plan period to modernize its power grid.
2017-2021, China's solar generator installed capacity increased rapidly year by year. 2021 China's solar generator installed capacity of 306.56 million kilowatts, a year-on-year increase of 20.96%.
Industry Development Status
Supply: a large number of participating enterprises, product types
After many years of development, in most of the transmission and distribution application areas, China's power transmission and distribution equipment manufacturers have sufficient production capacity. At present, China's major transmission and distribution equipment manufacturers, including China Xidian, TBEA, Baochang Electric, Pinggao Electric, Chint Electric, GNET Yingda, Guangdian Electric, Xuji Electric, Guonan Dianrui, Sifang shares, Guodian Nanshi and so on. At present, China's power transmission and distribution manufacturers produce the main products include transformers, distribution switchgear, reactors, transformers, insulators, lightning arrester, and distribution protection monitoring and intelligent substation and so on.
Demand: more types of demand, bidding amount
2021 State Grid substation equipment unified bidding 20 types of materials 2798 packages, bidding amount *** counted 44.5 billion yuan. Among them *** there are 273 companies won the bid. 273 companies in the bidding, 146 over 50 million yuan, 97 over 100 million yuan, 46 over 300 million yuan, 29 over 500 million yuan, 6 over 1 billion yuan, the highest one over 1.5 billion yuan. The top 100 combined in 2007 package 38610.82 million yuan, accounting for 86.8% of the total amount, a high degree of concentration.
Note: Bidding data contains only the State Grid substation equipment unified bidding, does not include the number of single product bidding and the number of local companies bidding.
Price: price performance of different categories of products varies widely
Transmission and distribution equipment categories, product characteristics, functions, specifications and other aspects of the existence of large differences, so the different transmission and distribution equipment enterprises of different product prices have large differences. As China's power transmission and distribution equipment mainly through the State Grid and the Southern Power Grid bidding to obtain orders, the degree of marketization is high, so China's power transmission and distribution equipment, the head of the enterprise's product price has a strong representative.
2020-2021, China's power transmission and distribution equipment representative enterprise power transmission and distribution equipment product trends show that in 2020-2021, China's distribution transformers and distribution appliances product prices have risen; at the same time, the distribution network switchgear whether it is high-voltage switches or low-voltage switches, the product price has decreased to varying degrees.
Industrial Competition Pattern
Regional Competition: East China is the main region, Jiangsu, Zhejiang is the most concentrated
At present, the country has a larger number of production or sales of power transmission and distribution equipment, according to the enterprise cat data statistics, as of October 2022, the As of October 2022, there are more than 30,000 surviving/operating power transmission and distribution equipment manufacturers in the country. From the enterprise distribution point of view, the domestic power transmission and distribution equipment enterprises are mainly gathered in East China, of which Jiangsu, Zhejiang and other provinces and cities related power transmission and distribution equipment enterprises are most concentrated.
Enterprise competition: market segments are more concentrated
Because of the many categories of power transmission and distribution equipment industry, the market concentration of different categories of products has a large difference. Combined with the State Grid Corporation's e-commerce platform released data show that the 2022 power transmission and transformation project substation equipment twice the procurement data show that the distribution transformer, switchgear, mutual inductors and other products market concentration is relatively low; circuit breakers, reactors, insulators, relay protection and other products market concentration is higher.
Note: Statistics for the first half of 2022 State Grid e-commerce platform procurement results
Industry Development Prospects and Trends Forecast
Transmission and Distribution Equipment product development of the main trends include equipment miniaturization, compactness, high specifications, large-capacity products to become the mainstream, high durability, high reliability, etc.; product The trend of technological innovation is reflected in the integration of equipment, the application of unified technology platform to increase as well as equipment energy saving, green.
For more research and analysis of this industry, please refer to the China Power Transmission and Distribution Equipment Industry Production, Sales, Demand and Investment Forecast Analysis Report by Prospect Industry Research Institute.