With the deepening advancement of the "dual carbon" goals, China's new energy industry has entered a period of rapid expansion. The extension of the industrial chains in fields such as photovoltaics, wind power, energy storage, and electric vehicle charging is continuously driving the prosperity of the high-voltage complete switchgear market. As the core equipment for distribution, control, and protection in power systems, high-voltage switchgear plays a key role throughout the entire chain of new energy power production, transmission, storage, and consumption. Its market demand has exploded alongside the development of the new energy industry.

1.Expansion of New Energy Power Generation: The Core Driving Force for Switchgear Demand

Photovoltaic and wind power are the two main pillars of new energy power generation, and their rapid growth in installed capacity directly drives demand for high-voltage switchgear.

- Large ground-mounted power stations: Whether photovoltaic power stations or wind farms, both require booster stations to raise the generation voltage to grid access standards. The distribution system inside the booster station relies on high-voltage switchgear to achieve power distribution, short-circuit protection, and fault isolation. For example, a 100MW ground-mounted photovoltaic power station typically requires 20-30 sets of 10kV or 35kV switchgear to connect inverters, step-up transformers, and grid-connected lines. In 2023, the national new photovoltaic installed capacity reached 87.41GW, and wind power increased by 33.66GW, with corresponding demand for high-voltage switchgear increasing by over 20% year-on-year.

- Distributed New Energy: The grid connection stage of distributed photovoltaics (such as rooftop PV) requires high-voltage switchgear to serve as the interface between the user side and the grid to ensure grid connection safety. With the widespread adoption of distributed photovoltaics in industrial plants and commercial buildings, the demand for miniaturized and intelligent high-voltage switchgear has risen significantly.

2.Explosion of Energy Storage Systems: Switchgear has become a key node in energy dispatching

Energy storage is the core link in addressing the volatility of new energy and achieving "source-grid-load-storage" coordination, and its large-scale development drives the upgrade of demand for high-voltage switchgear.

The charging and discharging process of large energy storage stations (such as electrochemical storage) requires high-voltage switchgear for energy conversion and distribution: on one hand, the energy storage system must connect to the grid via switchgear to enable peak shaving and frequency regulation on the grid side; On the other hand, the internal power distribution of energy storage units also relies on switchgear cabinets to ensure safety. In 2023, China's new energy storage installed capacity exceeded 30GW, a year-on-year increase of over 150%. Each GW energy storage power station requires about 50-80 sets of high-voltage switchgear, directly driving the expansion of related market scale. In addition, the rise of home and commercial and industrial energy storage has also fueled demand for small high-voltage switchgear.

3.Upgrading Charging Infrastructure: High-voltage switchgear supports high-power charging

The improvement of the electric vehicle charging network, especially the construction of ultra-fast charging stations and battery swapping stations, places higher demands on high-voltage distribution equipment.

The power of a single supercharger station can reach 350kW or even higher, requiring high-voltage switchgear to connect the grid to charging equipment to ensure the stability and safety of high-power power supply. By the end of 2023, the total number of charging infrastructure units nationwide exceeded 8 million units, with public supercharging stations up 40% year-on-year, and corresponding demand for high-voltage switchgear rising by more than 30% annually. Battery storage and charging systems at swap stations also rely on high-voltage switchgear for distribution management, further expanding market space.

4.Technological Iteration: New energy scenarios drive intelligent upgrades of switchgear

The special demands of the new energy industry (such as volatility and remote operation and maintenance) are driving high-voltage switchgear to develop towards intelligence.

- Condition monitoring function: New energy power stations are mostly located in remote areas, so switchgear must have real-time monitoring capabilities for temperature, humidity, current, etc., enabling fault early warning and remote diagnosis.

- Improved compatibility: To accommodate the intermittency of new energy generation, switchgear must support rapid grid connection and off-grid switching to meet the scheduling needs of integrated "source-grid-load-storage" projects.

- Environmental requirements: With the promotion of green electricity, demand for environmentally friendly switchgear without sulfur hexafluoride (SF6) is rising, driving technological innovation in the industry.

5.Market Size and Future Trends

According to industry statistics, in 2023, the market size of China's high-voltage complete switchgear was about 80 billion yuan, with the new energy sector accounting for over 35%, a year-on-year increase of 25%. It is estimated that by 2025, the demand for switchgear in the new energy sector will exceed 40 billion yuan, with a compound annual growth rate of over 18%.

In the future, as the penetration rate of new energy increases (non-fossil energy is expected to account for 25% by 2030), the high-voltage switchgear market will continue to benefit from the extension of the industrial chain: on one hand, the construction of new power systems requires more switchgear to support new energy grid integration; On the other hand, the scaling up of energy storage and charging facilities will further open up market space. At the same time, intelligence and environmental protection will become the core of industry competition, driving continuous upgrades in switchgear technology.

The extension of the new energy industry chain has injected strong momentum into the high-voltage complete switchgear market. The growth in demand not only reflects the prosperity of the new energy industry but also provides opportunities for the transformation of the power equipment sector. Guided by the dual carbon goals, the high-voltage switchgear market will continue to maintain rapid growth and become an important force supporting the construction of new power systems.