Current Situation and Future Development of Sultan's Power Transformer Market in 2023
Writer： Hengfeng you electric Time：2023-07-13 views：times
Sultan, as an important country on the African continent, is gradually attracting attention from all parties in its power transformer market. Although the development of the country's power system is constrained by many factors, such as insufficient capital investment and lagging infrastructure construction, coupled with the COVID-19 pandemic, which has had a significant negative impact on the Sultan power transformer market, Sultan's power supply shortage has reached 60%. Among the existing supply, residential electricity accounts for 80%, while the rest is in the industrial production sector. The severe shortage of hydroelectric and thermal power generation has forced power companies to provide limited daily supply. However, in recent years, the Sultan government has begun to attach importance to the reform and upgrading of the power system. Sultan State Power Corporation of China (NEC) has announced to build four nuclear power plants by 2030 to fill its energy gap; At the same time, the increasing investment in renewable energy to meet energy demand will also drive the continuous development of the Sudan power transformer market. It is expected that the Sultan power market will have a compound annual growth rate of over 2.7% in the forecast period from 2023 to 2027. The sales director of Hengfengyou Electric believes that although the Sultan power transformer market is full of opportunities, it is full of difficulties and challenges for Chinese power transformer enterprises.
1. Overview of Sultan Power Transformer Market
At present, Sultan's power transformer market is showing a situation of oversupply. Mainly due to the inability of domestically produced power transformers to meet the growing demand for electricity, they must rely on imports. However, due to high transportation costs, cumbersome import processes, and price fluctuations in the international market, this market appears complex and unique. In the Sultan power transformer market, China and India are the main suppliers. Power transformers produced in China, such as the 11kV three-phase oil-immersed power transformer produced by Hengfengyou Electric, are warmly welcomed by the market due to their high quality and reasonable price. At the same time, India, Türkiye and Egypt also have a certain share in the Sultan market, and their transformers have good performance and quality. However, it is worth noting that due to Sultan's growing electricity demand and limited production capacity in the country, there is still significant room for development in this market. Therefore, for Chinese power transformer companies willing to enter this market, this is a very attractive opportunity.
2. Future Market Development of Sultan Power Transformers
With the increasing global attention to renewable energy, the use of clean energy such as solar and wind energy in Sultan will gradually become popular. This will further drive the demand for power transformers. In addition, with the improvement of power grid infrastructure and the enhancement of remote transmission capacity, the demand for power transformers will also increase. In addition, with the progress of technology, such as the promotion of Amorphous metal transformer, it will help improve the efficiency and stability of power transmission, and will also bring new growth points to the power transformer market.
3. Opportunities and Challenges for Chinese Power Transformer Enterprises
For Chinese power transformer companies, the Sultan power transformer market not only provides broad development opportunities, but also faces some challenges.
A. In terms of opportunities, firstly, with the rapid growth of Sultan's electricity demand, the demand for various types of power equipment will increase significantly, providing a broad market space for China's power transformer enterprises. Secondly, as the Sultan government invests more in the power system, the demand for high-performance and high-efficiency power transformers will further increase, which will provide more opportunities for Chinese enterprises.
B. In terms of challenges, firstly, due to the high dependence of the Sultan market on imported equipment, price fluctuations in the international market may have an impact on the profits of enterprises. Secondly, the competition in the Sultan market is also quite fierce, and Chinese enterprises need to continuously improve the quality and performance of their products to maintain competitiveness. In addition, due to the relatively lagging infrastructure construction of Sultan, companies may need to invest more energy and resources in product installation and maintenance.
Overall, despite some challenges in the Sultan power transformer market, it remains an attractive market for Chinese companies. With the advancement of technology and changes in market demand, Chinese enterprises should adjust their strategies in a timely manner to adapt to and seize the opportunities in this market. At the same time, the Chinese government should also increase its support for enterprises to help them achieve greater success in expanding overseas markets.
