On June 20th, the “2024 China Electrical Industry Series White Papers” (hereinafter referred to as the “White Papers”) were grandly launched in Shanghai. Over 200 representatives from the China Electrical Equipment Industrial Association, well-known domestic and international electrical enterprises, fund investors, and industry professionals attended the event. As a leading global smart energy system solutions provider, CHINT participated and delivered a keynote speech on “Integrated High, Medium, and Low Voltage Solutions Empowering CHINT Global’s Journey,” showcasing years of innovative development and global strategic layout.
The White Papers, directed by the China Electrical Equipment Industrial Association and led by the renowned industrial research and consulting firm Wintelligence, leverage years of market research experience in the electrical industry. This year’s White Papers comprehensively review the market scale, development trends, and competitive landscape of the low-voltage electrical market, medium and low-voltage electrical panel manufacturers, and the variable frequency drive market. The publications include six White Papers: “2024 China Low Voltage Electrical Market White Paper,” “2024 China Medium Voltage Electrical Market White Paper,” “2024 China Medium and Low Voltage Electrical Panel Manufacturers Market White Paper,” “2024 China Cable Market White Paper,” “2024 China Variable Frequency Drive Market White Paper,” and “2024 China Dry-Type Transformer Market White Paper.” They also provide professional analysis on the energy structure transition, new power systems, and international development under the “dual carbon” strategy.
At the beginning of the conference, Bai Wenbo, Secretary-General of the China Electrical Equipment Industrial Association, delivered a speech, offering in-depth insights into the development trends of the electrical industry. He emphasized that 2024 marks the 75th anniversary of the founding of the People’s Republic of China and is a crucial year for achieving the “14th Five-Year Plan” goals. The electrical industry is poised to seize new development opportunities amidst a new wave of energy revolution, technological innovation, and industrial transformation.
The sixth session of the fifth council of the China Electrical Equipment Industrial Association highlighted the need for strategic research around the digital transformation of the power equipment manufacturing industry, the renewal demand for large-scale power equipment manufacturing, and the new power system equipment standard system and standard upgrades. Against this backdrop, the “Electrical Industry Series White Papers” were born, becoming invaluable resources for understanding industry trends, empowering enterprise decision-making, and guiding industrial transformation. Under the blueprint of the new era, the electrical industry is ready to embark on a new future driven by innovation and limitless potential.
During the conference, Wintelligence delved into the scale and competitive landscape of the low-voltage electrical market, analyzed market development trends, and introduced the strategic plans and practices of industry leaders under the backdrop of the “dual carbon” goals and “new quality productivity.” They also discussed the booming development trends and vast market prospects of low-voltage DC products within the context of energy structure transformation and the construction of new power systems.
Notably, the White Papers’ analysis further highlighted CHINT’s leading position in the low-voltage electrical industry. Among the first-tier companies with a market share exceeding 1.38 billion USD in the medium and low-voltage electrical market, CHINT stands out as the only Chinese brand. Moreover, in the six-star market model evaluation, CHINT was rated as a six-star enterprise due to its outstanding performance in the industrial OEM, construction, and personal user segments, demonstrating significant achievements in the era of digitalization and green development.
In the special sharing session, Landy Hou, Executive Vice President of CHINT Global Overseas Marketing Department, shared the company’s development initiatives and achievements around “green and low-carbon” and “overseas markets.” Guided by the integrated high, medium, and low-voltage strategy and insights into domestic and international market demands, CHINT has deeply cultivated three major industry clusters: green energy, smart electrical, and intelligent low-carbon. With strong digital manufacturing capabilities and integrated high, medium, and low-voltage industry strength, CHINT achieved a sales revenue of 21 billion USD in 2023 and a 24% year-on-year increase in international revenue, covering over 140 countries and regions.
Rooted locally and serving globally, CHINT collaborates with countries along the “Belt and Road” initiative, establishing joint ventures in Saudi Arabia, Egypt, and Thailand through its green energy projects and global localization strategy. Leveraging its 24 research institutes, 26 manufacturing bases, and over 20 international logistics centers worldwide, CHINT has built an integrated international platform for production, research, and sales, showcasing excellent global delivery capabilities while expanding overseas markets.
The event also featured a special award ceremony. CHINT Electric received the “Sales Leadership Award,” and CHINT Electrical received the “Fast Growth Award.” Bai Wenbo, Secretary-General of the China Electrical Equipment Industrial Association, and Li Yufeng, General Manager of Wintelligence, presented the awards. This recognition not only acknowledges CHINT’s outstanding performance in market competition but also highlights its product quality, innovation capability, and service level. Moving forward, CHINT will continue to uphold its customer-centric and innovation-driven development philosophy, relentlessly pursuing excellence to provide customers with superior products and services, thereby continuously promoting the development and prosperity of the electrical industry.
Standing at the forefront of new industry developments, CHINT remains committed to its integrated high, medium, and low-voltage strategy, dedicated to technological innovation, and actively expanding international markets. As an industry leader, CHINT is committed to building a low-carbon, intelligent, and efficient global energy system, demonstrating its wisdom and solutions to contribute to the realization of a green community with a shared future, and opening a new chapter in industry development.
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