The global economy has been sluggish for the past decade, and the Chinese economy has also been impacted. As a result, competition in the low-voltage electrical appliance market has become increasingly fierce. It is in this environment that LS Electric has gradually established itself in the Chinese low-voltage electrical appliance market.
A transformation is underway, and those who can seize this opportunity will avoid being eliminated by the market. LS Power Generation has already taken the lead.
According to the China Electricity Council's forecast, total electricity consumption in China will reach 8.00-8.81 trillion kilowatt-hours in 2020, with an average annual growth rate of 4.6%-6.6% during the 13th Five-Year Plan period. By 2030, total electricity consumption is projected to reach 11.30-12.67 trillion kilowatt-hours. Although total electricity consumption will continue to rise, it will still lag behind that of developed countries. There is significant room for improvement in per capita electricity consumption in my country. This places higher demands on the capacity and quality of distribution networks and electrical equipment on the consumer side. The increasing demand for new installations and replacements of distribution and terminal electrical appliances will continue to benefit the low-voltage electrical appliance market, particularly the high growth of mid-to-high-end low-voltage electrical appliances.
Huang Xiangdao, General Manager of PJT Business Unit of LS Electric Power China, stated: "On the one hand, LS Electric Power has formulated a market strategy focusing on key industries, consolidating its existing market share in advantageous sectors while emphasizing the development of markets such as smart power transmission and distribution and new energy. On the other hand, adhering to the business philosophy of 'creating higher value hand in hand with customers,' we provide each specific customer or project with products and services that offer higher cost-effectiveness. To implement our market strategy and achieve the goal of providing better products and services to the market, LS Electric Power is building a competitive corporate brand through professional market research, strong product development, reliable automated production, stringent quality control, and comprehensive customer service."
The development trend and market capacity of the low-voltage electrical appliance industry provide LS Power Generation with a favorable opportunity. With the advancement of China's energy revolution, various distributed power sources, such as electric vehicles, will be connected to the grid in the future. New forms such as microgrids and multi-energy complementarity will also emerge, placing higher demands on the distribution network, requiring it to be more intelligent and secure. At the same time, the requirements for various distribution electrical appliances will also be higher. Huang Xiangdao stated, "Currently, distribution electrical appliance products are developing towards high performance, high reliability, miniaturization, intelligence, and modularization. The domestic distribution electrical appliance market needs companies with innovative capabilities and the ability to quickly respond to market demands; these companies will stand out in the new market landscape. LS Power Generation is continuously striving to provide system solutions including intelligent power transmission and distribution, wind power, photovoltaics, energy storage, and electric vehicles."
LS Electric has always been market-demand oriented, promoting the localization of product development and continuously investing in and optimizing its R&D layout.
Circuit breakers are arguably the most common and frequently used electrical appliances in power distribution systems. They are classified into two types based on their structure: frame circuit breakers and molded case circuit breakers. At the Shanghai EP Power Exhibition in November 2017, LS Electric showcased its main products, including the Susol series air circuit breakers, Susol series molded case circuit breakers, Metasol series contactors, and photovoltaic-specific DC molded case circuit breakers, among other low-voltage electrical products. Compared to similar products, LS Electric's new products represent breakthroughs in structure and the application of new technologies. They feature high performance parameters, high reliability, miniaturization, and intelligence, with high operating voltage and a wide operating current range, making them suitable for various market demands and assisting users in optimizing system design solutions.
Inaccurate market forecasting by enterprises can have varying degrees of impact. Mr. Huang Xiangdao stated, "LS Electric's well-established R&D process and stringent experimental standards constrain the development cycle of new products. LS Electric has long been committed to accurate market demand research and prediction, and to in-depth technical communication with users to develop market-leading products in advance."
With the continuous decline in the cost of photovoltaic power generation in China in recent years, coupled with ongoing technological innovation and significant improvements in conversion efficiency, many domestic companies have launched DC 1500V photovoltaic-specific DC molded case circuit breakers. LS Power has also actively expanded into the photovoltaic industry, achieving remarkable development within the Chinese photovoltaic sector.
Mr. Huang Xiangdao stated, "DC1500V is a crucial measure for reducing costs and increasing efficiency in photovoltaic systems, and its advantages have become a consensus within the industry. As an application component in photovoltaic systems, it is imperative to upgrade the operating voltage of DC circuit breakers to DC1500V. To this end, LS Electric has launched a series of DC1500V products, including cover frames, molded case circuit breakers, and load switches, to support the advancement and market adoption of DC1500V technology in the photovoltaic industry chain. " The emergence of the DC1500V photovoltaic-specific DC molded case circuit breaker is a significant boost to the development of the photovoltaic industry.
▶ LS Electric was founded in the 1970s and has consistently been a leader in the Korean electrical market. To gain greater competitiveness in the global market and to focus more on expanding into the industrial market, LS was separated from the LG Group as an independent industrial group in 2005, based on the different nature of its industries. Through relentless efforts, LS Electric has developed into Korea's leading integrated electromechanical manufacturer.
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