Handan Dongmao Fastener Manufacturing Co., Ltd. | Dongmao Electric Power Fittings

Market analysis of the electric power fittings industry: intelligence and internationalization

Time：2026-01-24 14:12:55　Hit：8

Electric power fittings, as an important component of the electric power system, are defined as metal accessories that connect and combine various devices in the electric power system, serving to transmit mechanical loads, electrical loads, and provide certain protective functions. They play the role of "joints" and "links" in the electric power system, serving as key components for connecting and supporting transmission lines, substations, and distribution equipment. The global market for electric power fittings continues to grow due to the rising demand for electricity and increased investment in infrastructure construction. Especially in China, as one of the largest electric power markets in the world, the demand for electric power fittings accounts for more than half of the global total demand.

In the future, the electric power fittings industry will embark on a new stage of high-quality development. As the electric power system places increasing emphasis on efficiency and safety, electric power fittings are required to meet higher standards in terms of materials, design, and manufacturing. High-performance electric power fittings can effectively reduce line losses, enhance the efficiency of power transmission, lower the failure rate, and ensure the stable operation of the electric power system. With the application of technologies such as the Internet of Things, big data, and cloud computing, the electric power fittings industry is gradually moving towards intelligence and automation. By utilizing intelligent technology to achieve remote monitoring, fault warning, and intelligent operation and maintenance of electric power fittings, the operational efficiency and safety of the power grid can be enhanced.

I. Industry Status and Market Size

1. Overall scale and growth

The market size of China's electric power fittings industry reached 48.2 billion yuan in 2024, representing a year-on-year growth of 11.4%, significantly higher than the global growth rate (7.1%). It is expected to exceed 50 billion yuan in 2025, with a compound annual growth rate (CAGR) of 11.4% from 2020 to 2025. The global market size in 2024 was 16.8 billion US dollars, with China accounting for over 30%, firmly ranking among the top in the world.

2. Pattern of subdivision fields

Voltage level: ultra-high voltage (750kV and above) accounts for 35%, high voltage (110kV-750kV) accounts for 42%, and medium and low voltage (≤110kV) accounts for 23%.
Application areas: power grid construction accounts for 58%, new energy power stations (wind power, photovoltaic) account for 27%, and industrial electricity consumption accounts for 15%.
New energy drive: In 2023, the newly installed capacity of wind power and photovoltaic power reached 180 million kilowatts, marking a year-on-year increase of 58%. This surge has driven a significant increase in demand for photovoltaic bracket connectors and offshore wind power anti-corrosion fittings.

II. Policy Support and Technology Drive

1. Policy dividends continue to be released
The "14th Five-Year Plan for Modern Energy System" issued by the National Energy Administration specifies that by 2025, the proportion of non-fossil energy consumption will increase to 20%, and the newly added mileage of ultra-high voltage transmission lines will exceed 30,000 kilometers.
In 2024, the central government's expenditure on science and technology reached 1.2 trillion yuan, supporting technological research and development in key areas such as ultra-high voltage and smart grid.

2. Technological innovation and industrial upgrading

Material breakthrough: The application of 3D printing and nano-coating technology in the manufacturing of metal fittings has extended the product lifespan by over 30%, and the proportion of industry R&D investment is expected to rise to 4.8% by 2024.
Intelligentization upgrade: The penetration rate of intelligent hardware fittings (such as insulators with built-in sensors) is increasing, with a bidding share of 12% in 2024, and a potential CAGR of 28% over the next five years.
Green transformation: The application proportion of environmentally friendly materials (such as lead-free plating and recyclable aluminum alloy) has increased, and some enterprises have reduced carbon emissions through circular economy models.

III. Market Competition Landscape and Investment Opportunities

According to the analysis in the "2025-2030 China Electric Power Fittings Industry Supply and Demand Analysis and Investment Risk Research Report" by the Zhongyan Puhua Industry Research Institute:
1. Analysis of core competitors
Leading enterprises: Dongfang Iron Tower, Jiangsu Tiannan, and Hebei Wufeng occupy a dominant position in the UHV and overseas markets, with the CR5 (market share of the top five enterprises) reaching 52% in 2024.
Regional enterprises: Over 30 enterprises focus on the medium and low voltage market, facing pressure from cost and transformation, some of which have shifted to emerging markets such as Southeast Asia and Africa.
2. High-growth sectors and targets
UHV supporting hardware: The market size is expected to exceed 30 billion yuan in 2025, with strong demand for composite insulators and large cross-section conductor hardware.
Offshore wind power anti-corrosion products: By 2024, the installed capacity of offshore wind power in China is expected to exceed 15GW, with the gross profit margin for anti-corrosion fittings reaching 40% to 45%.
Intelligent inspection device: intelligent hardware integrated with the Internet of Things, with its bidding share rising to 12% in 2024, and its CAGR potentially reaching 28% over the next five years.

IV. Challenges and Risk Warnings

1. Core challenges
Fluctuations in raw material prices: In 2024, aluminum prices rose by 18% year-on-year, putting pressure on the profits of small and medium-sized enterprises, and compressing the industry's profit margin to 8% to 10%.
Technical barriers: Products (such as ultra-high voltage DC fittings) still rely on imports, with a localization rate of less than 30%.
International trade risks: Anti-dumping investigations by European and American countries have increased export uncertainty, leading to a slowdown in the growth rate of overseas orders for some enterprises in 2024.
2. Risk hedging strategy
Give priority to head enterprises with long-term agreement orders to lock in costs (such as Dongfang Iron Tower and Jiangsu Tiannan).
Pay attention to enterprises with high technical barriers and R&D investment accounting for more than 5% of their total revenue (such as Power-One and Leiboteike).

V. Future Trends and Investment Suggestions

1. Development trend
Internationalization: China's exports of electrical power fittings increased by 31% year-on-year in 2024, with the contribution rate from Southeast Asian and Middle Eastern markets rising to 60%.

Digitalization: The construction of smart grids drives the integration of sensors and communication modules in hardware fittings, forming a new market worth billions of yuan.

In 2025, driven by policy support, technological innovation, and market demand, the electric power hardware industry will deepen its development towards intelligence and internationalization. Investors should pay attention to enterprises with high technological barriers and deep overseas layouts, while being vigilant about raw material price fluctuations and international trade risks. In the future, ultra-high voltage supporting hardware, offshore wind power anti-corrosion products, and intelligent inspection devices may become major growth points.

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