What opportunities and challenges does the United States, as the world's second-largest power transformer market, have for Chinese power companies?
Writer： Hengfeng you electric Time：2023-05-15 views：times
According to data from the General Administration of Customs of China, as of March 2022, the cumulative export quantity of power transformers in China reached 790 million units, a year-on-year increase of 2.5%, and the export amount reached 930 million US dollars, a year-on-year increase of 28.8%; Among them, the scale of power transformers exported to the United States accounts for approximately 10.2%. As a result, the United States has become the second largest export market for power transformers in China. This article is written by JACK, the Sales Director of Hengfengyou Electric, to discuss the overview of the existing transformer market in the United States and the future development of the power transformer market. The main power transformer enterprises and power transformer products are also discussed. We will share with you the business opportunities and opportunities of Chinese transformer enterprises exporting to the US market (some data comes from the internet):
1 Overview and Market Development of the Existing Transformer Market in the United States: The United States is one of the largest power transformer markets in the world. According to data from the US Energy Administration, in 2022, the scale of power generation facilities in the United States generated approximately 4.24 trillion kilowatt hours (kWh) of electricity, accounting for approximately 15.5% of the global total electricity generation, second only to China (with approximately 30% of electricity generation). The United States is also vigorously promoting renewable energy and striving to achieve carbon free power generation by 2035. The Biden government, which has always been focusing on the "Green New Deal", expressed key concerns in the field of electricity. Biden emphasized the construction of a new energy grid - he also plans to use $100 billion to build a more flexible grid, advocating for a 10-year extension of tax incentives for wind, solar, and other renewable energy projects, requiring more electricity to come from low-carbon energy, which really looks like a "new infrastructure for electricity". According to the data of the American Society of Civil Engineers, by the end of the next decade, the US power grid will face an investment gap of 338 billion US dollars (about 2200 billion yuan), which shows that the US market is full of opportunities and challenges.
2. Main Power Transformer Enterprises and Power Transformer Products: Basic Information of Existing Transformer Manufacturers in the United States
The United States is one of the largest power transformer markets in the world, with multiple well-known transformer manufacturers.
The main manufacturers include:
1 ABB Inc. 2. General Electric Company 3. Siemens AG 4. Eaton Corporation 5. Hammond Power Solutions Inc. 6. Triad Magnetics 7. WEG Electric Corp. 8. TEMCo Industrial Power 9. Delta Electronics 10. In addition, Acme Electric Corporation also has some smaller transformer manufacturers in the United States, such as BICRON Electronics, Dongan, WAUKESA, VIGINIA, In Stat, Transformer Power, etc. With the infrastructure investment announced by Biden Biden on March 31, 2021, involving power related investment of $600 billion, the growing demand for power construction in the United States has driven the development momentum of the domestic power transformer market in the United States to a large extent, resulting in insufficient capacity of domestic transformer factories in the United States in the past two years, which needs to be imported from China, Mexico, Türkiye, India and other countries to make up for the lack of capacity. So in the future, the US market will need the main transformer for the power grid, liquid filled pad mounted photovoltaic step-up transformer, pad mounted wind power step-up transformer, three-phase liquid filled pad mounted transformer, and single-phase column mounted transformer. Hengfengyou Electric has UL and CSA certifications and is familiar with North American electrical standards. Hengfengyou Electric produces liquid filled pad mounted photovoltaic step-up transformers, pad mounted wind power step-up transformers, ordinary three-phase liquid filled pad mounted transformers, and ordinary single-phase column mounted transformers, which have been sold in countries and regions such as the United States, Canada, Honduras, Chile, Philippines, Venezuela, etc.hfy@hengfengyou.com.
3. For the business opportunities and opportunities of Chinese transformer enterprises exporting to the US market:
With the growth of the US power transformer market and the rise of Chinese transformer companies, the business opportunities and opportunities for Chinese transformer companies to export to the US market are receiving increasing attention. In the export market, business opportunities can be explored by expanding the market and customer base. In addition, competitiveness can be enhanced by improving product quality and technological level. At the same time, we can also collaborate with local enterprises to jointly develop markets and projects, achieving mutual benefit and win-win results.
In short, the United States is one of the world's largest power transformer markets, and the market size of power transformers will maintain stable growth in the next five years. For Chinese transformer companies, exporting to the US market is an important business opportunity and opportunity. By expanding the market and customer base, improving product quality and technological level, and collaborating with local enterprises, we can better seize this opportunity and achieve better development.
