market situation

      1. Sales revenue

      Affected by the promotion of policies, China's industrial motor manufacturing industry has transformed into a high-efficiency and green industry, and the industry's replacement demand has grown. In 2019, sales revenue reached 349.65 billion yuan, a year-on-year increase of 7.37%. Affected by the epidemic in 2020, the overall market declined, with sales revenue of 329.14 billion yuan, a year-on-year decrease of 5.87%. It is expected to continue to grow in the future and will increase to 361.21 billion yuan in 2022.

      2. Output

      China's industrial motor output shows a fluctuating growth. In 2018, China's industrial motor output was 269.711 million kilowatts, the lowest value in recent years. In 2020, the output will recover rapidly, increasing to 323.341 million kilowatts. It is expected that the output will reach 384.61 million kilowatts in 2022.

      Prospects

      1. Policies are favorable for the development of the industry

      In recent years, as my country has actively promoted the transformation of its industrial structure, the manufacturing industry has shifted to a direction of green and sustainable development. More advanced industrial electrical equipment can generate more kinetic energy with the same energy consumption, which is more efficient and more environmentally friendly. In the future, the green development and transformation of the industry will be actively implemented, and the government will issue policies to promote the development of high-efficiency and energy-saving motors and product substitution.

      2. Large development space for downstream industries drives industry progress

      In recent years, in order to reduce pollution, improve energy security and revitalize the domestic automobile industry, the Chinese government has issued a number of policies to speed up the development of the new energy automobile industry, which has a large space for development. As an important component of new energy vehicles, industrial motors face significant development opportunities.