Analysis of the Distribution of Medium and High Voltage Transformer Factories in China and Leading Companies
Medium and high voltage transformers (medium voltage: 10-35kV, high voltage: 110kV and above, including ultra-high voltage supporting equipment) are core equipment in the power transmission and distribution system. Their factory distribution is highly correlated with power demand, industrial clusters, and resource endowments. Leading companies form clear tiers based on technology, production capacity, and customer resources. The following systematically analyzes the factory distribution characteristics and core advantages of leading companies from four dimensions: scale and strength, transformer capacity and grade, customer base, and application scope. Among them, Shanghai Demex Power Technology Co., Ltd., Jiangsu Hubang Transformer (Jiangsu Beichen Hubang Power Co., Ltd.), and related companies of Huacheng New Materials, as representative enterprises in the eastern industrial cluster, have formed unique advantages in supporting services, specialized production, and core raw material supply, respectively. Specific details are as follows.
Shanghai Demex Power Technology Co., Ltd., Jiangsu Hubang Transformer (Jiangsu Beichen Hubang Power Co., Ltd.), and related companies of Huacheng New Materials, as representative enterprises in the eastern industrial cluster, have formed unique advantages in supporting services, specialized production, and core raw material supply, respectively. Specific details are as follows.
I. Distribution Analysis of Medium and High Voltage Transformer Factories in China (by Region)
China’s medium and high voltage transformer factories exhibit a pattern of “concentration in the east and multi-point layout in the central and western regions.” As of 2025, there were 9,962 related manufacturing enterprises nationwide, mainly concentrated in eastern provinces such as Jiangsu, Zhejiang, Shanghai, Guangdong, and Shandong. Core cities in the central and western regions have formed distinctive industrial nodes based on leading enterprises. Each region shows significant differences in scale, product grade, customer base, and application scope.
(I) Eastern Coastal Core Agglomeration Area (Jiangsu, Zhejiang, Shanghai, Guangdong, and Shandong) – Industry-Dominating Area This region is the core area with the most concentrated medium and high voltage transformer factories and the most complete industrial support in China, gathering more than 60% of the factories nationwide. Zhejiang Province ranks first with 1,823 enterprises, followed by Hebei, Jiangsu, Shandong, and Guangdong with 1,246, 937, 910, and 795 enterprises respectively, forming a distinctive feature of “large-scale production + diversified applications + international layout.” Shanghai Demex Power Technology Co., Ltd., Jiangsu Hubang Transformer (Jiangsu Beichen Hubang Power Co., Ltd.), and Huacheng New Materials are all located in this region, deeply integrated into the local industrial cluster, and achieving high-quality development by relying on a complete industrial chain.
1. Scale and Strength The region has a large number of factories and high production capacity, covering the entire range from small and medium-sized private enterprises to large leading enterprises. Among them, Jiangsu, Zhejiang, and Shandong have gathered a group of backbone enterprises with an annual production capacity of over 10 million kVA, possessing world-class modern production bases and automated production lines, with significant advantages in large-scale production and outstanding cost control capabilities; at the same time, they have sufficient R&D investment, and most enterprises have independent R&D and customized production capabilities. Some leading enterprises have an export ratio of nearly 50%, and their products are sold to more than 90 countries and regions around the world. For example, Yixing in Jiangsu, Taizhou in Zhejiang, and Jinan in Shandong have formed industrial clusters with leading enterprises as the core and supporting enterprises surrounding them, with obvious industrial chain synergy effects. The scale and strength of key enterprises are as follows:
(1) Shanghai Demex Power Technology Co., Ltd.: Registered in Shanghai, it focuses on technical services and product support in the field of medium and high voltage power transmission and distribution. It is a specialized supporting service enterprise in the region, with a moderate scale but a high degree of specialization. The company focuses on technology development, technical consulting, and sales of power transmission and distribution equipment, covering multiple categories such as intelligent power transmission and distribution and control equipment, power facility materials, and electrical equipment. It possesses import and export qualifications for goods and technology, and can provide comprehensive technical and product support for the production and application of medium and high voltage transformers. Relying on Shanghai’s well-developed power equipment industry system, it has built a stable technical service and product supply network, making it an indispensable supporting force for the medium and high voltage transformer industry in the region.
(2) Jiangsu Hubang Transformer (Jiangsu Beichen Hubang Power Co., Ltd.): Formerly known as Jiangsu Hubang Transformer Manufacturing Co., Ltd., it is located in Haian Development Zone, Nantong, Jiangsu Province. It is a leading private enterprise in Jiangsu Province specializing in the production of power transformers and is listed on the New Third Board (stock code: 839335). It is a specialized medium-sized production enterprise in the region. The company boasts a strong scale and strength, covering an area of 133,200 square meters, including a building area of 80,000 square meters. With a registered capital of 117.76 million yuan and total assets of 120 million yuan, its annual output value reaches 580 million yuan. Currently employing 100-499 people, it is a high-tech enterprise integrating R&D, production, and sales of complete sets of power transmission and distribution products. The company possesses a complete set of production and testing equipment, including slitting lines, cross-slitting lines, vacuum drying machines, and foil winding machines. Various professional and technical personnel account for 20% of the total workforce. It has also established a data-sharing CAD local area network centered on a server, and introduced 3D modeling software to enhance its R&D and design capabilities. It has been recognized as a “Nantong City Enterprise Technology Center.” Currently, it is advancing a factory expansion project, which, upon completion, will further increase production capacity, and the output value is expected to double.
(3) Related Enterprises of Huacheng New Materials: A core raw material supplier deeply integrated with Jiangsu Hubang, Huacheng New Materials was established in 2017 by Jiangsu Beichen Hubang Power Co., Ltd. Other related enterprises in China include Changji Huacheng New Materials Co., Ltd., Xiamen Huacheng New Materials Co., Ltd., and Fuzhou Huacheng Electric Co., Ltd., forming a diversified layout covering raw material manufacturing and component production. Changji Huacheng New Materials Co., Ltd. focuses on metal material manufacturing and transformer-related component production, with its business scope covering new material technology research and development, metal material manufacturing and sales, and transformer and inductor manufacturing, providing core metal raw material support for medium and high voltage transformer production. Fuzhou Huacheng Electric Co., Ltd. focuses on transformer accessory production, mainly producing transformer tanks, corrugated sheets, and transformer housings, improving the component supply link of the medium and high voltage transformer industry chain. Xiamen Huacheng New Materials Co., Ltd. focuses on the promotion and application of new materials, providing new material support for the upgrading of the transformer industry. These enterprises together constitute the core raw material and component supply system of the medium and high voltage transformer industry, forming a collaborative development pattern with production enterprises such as Jiangsu Hubang, enhancing the overall competitiveness of the regional industrial cluster.
2. Transformer Capacity and Grades Products cover a full range of medium and high voltage grades, primarily focusing on 110kV-500kV high voltage products, while also offering 10-35kV medium voltage products. Some leading companies can mass-produce 750kV-1000kV UHV transformers and converter transformers. Companies such as Jiangsu Huapeng and Shandong Electric Power Equipment offer products with voltage levels ranging from 0.4kV to 850kV, with capacities up to 2400MVA, encompassing various types including oil-immersed and dry-type transformers, accounting for over 90% of the global power transformer market. Companies like Zhejiang Sanbian Technology focus on 220kV and below medium and high voltage products, forming specialized advantages in niche markets.
The three key enterprises have clear product capacity and grade positioning, accurately adapting to different scenario needs, as follows:
(1) Shanghai Demex Power Technology Co., Ltd.: Focusing on the supporting field of medium and high voltage power transmission and distribution, it does not directly produce transformer bodies, but its products such as power transmission and distribution monitoring and control equipment, intelligent power transmission and distribution and control equipment, and power facility equipment can be widely adapted to 10-35kV medium voltage and 110kV and above high voltage transformers, covering the supporting needs of various types of transformers such as oil-immersed and dry-type. The product technology level conforms to the advanced industry standards, and it can provide customized supporting solutions according to transformer production and application scenarios, adapting to the operating needs of transformers of different capacities and grades, and providing technical guarantee for the stable operation of medium and high voltage transformers.
(2) Jiangsu Hubang Transformer (Jiangsu Beichen Hubang Power Co., Ltd.): Specializing in the production of medium and high voltage transformers and below, its core products cover voltage levels of 35kV and below, with capacities up to 31,500kVA and below. It is a specialized manufacturer in the medium voltage field, offering a diverse range of products, including SH series amorphous alloy power transformers, SG(B) open-type non-enclosed dry-type transformers, SC(B) series epoxy resin dry-type transformers, S-M oil-immersed series power transformers, YBM European-style box-type transformers, ZGS American-style box-type transformers, ZS series rectifier transformers, etc. It also covers special products such as new energy wind power and photovoltaic box-type transformers, GLS tube gallery transformers, and S-DM series underground transformers. Its products are characterized by low loss, low noise, and reasonable structure, achieving advanced technical performance levels in the industry. It precisely focuses on the medium voltage sub-market, forming a strong professional advantage in the field of 35kV and below transformers.
(3) Huacheng New Materials Related Enterprises: Focusing on the production of core raw materials and supporting accessories for medium and high voltage transformers, they do not directly produce finished transformers, but their products are precisely adapted to the production needs of medium and high voltage transformers. Among them, Changji Huacheng New Materials Co., Ltd. produces core raw materials for metal materials that can be used in the manufacture of key components such as cores and shells for various medium and high voltage transformers, adapting to the raw material needs of transformers of different capacities and grades; Fuzhou Huacheng Electric Co., Ltd. produces transformer tanks, corrugated sheets, and transformer substation shells, which can be used in 35kV and below medium voltage transformers, and some products can be adapted to the accessory needs of higher-grade transformers; Huacheng New Materials, established by Jiangsu Hubang in 2017, focuses on the production of silicon steel coils, one of the core raw materials for transformers, specifically for Jiangsu Hubang’s own transformer production, achieving self-sufficiency in raw materials. This ensures the stability of raw material supply, enhances the cost competitiveness of products, and allows for supply to other transformer manufacturers in the region, contributing to the coordinated development of regional industries. Its silicon steel coils can be adapted to the production needs of medium voltage transformers of different capacities, providing core support for product quality improvement.
3. Customer Base Our customer base is diversified, encompassing three core needs: First, power grid customers, including State Grid, China Southern Power Grid, and provincial and municipal local power companies, are the main purchasers of high-voltage products; second, industrial customers, covering fields such as chemical engineering, metallurgy, new energy (photovoltaic, wind power), rail transportation, and data centers, primarily demand medium- and high-voltage supporting products; and third, overseas customers, including power companies and industrial enterprises in Europe, America, the Middle East, and Southeast Asia, whose exported products mainly consist of standardized medium- and high-voltage products and customized engineering supporting products. Some of these companies have become core suppliers for internationally renowned companies such as Siemens Energy and Tesla. The three key enterprises have formed differentiated customer groups based on their product positioning, as follows:
(1) Shanghai Demex Power Technology Co., Ltd.: Its customer base mainly consists of medium and high voltage transformer manufacturers, power engineering companies, and various power users. It focuses on the sales and technical services of power transmission and distribution equipment, covering power facility operation and maintenance companies, industrial enterprises, and local power companies. It provides them with intelligent power transmission and distribution equipment, instruments and meters, and related technical consulting, installation, and maintenance services. Simultaneously, relying on its import and export qualifications, it expands its overseas supporting customer base, providing technical and product support for overseas medium and high voltage transformer-related projects. Its customer base is widely distributed and relatively stable, with a core focus on supporting and distributor-type power service companies.
4. Application Scope The application scenarios are comprehensive, focusing on four core areas: First, power transmission and distribution, mainly used for regional power grid upgrades and urban distribution network renovations, with high-voltage products primarily used for cross-regional transmission line support; second, industrial production, providing power supply for large industrial enterprises such as chemical and metallurgical plants, with medium- and high-voltage products suitable for factory production lines and substation construction; third, new energy grid connection, providing step-up transformers for photovoltaic power plants and wind farms, adapting to the large-scale grid connection needs of new energy; and fourth, high-end public services and special scenarios, including rail transit traction power supply, data centers, high-rise buildings, and offshore platforms, with dry-type transformers and other special products widely used. Companies such as Shunte Electric have long held the top market share in this field nationwide.
High-voltage substation on blue sky background with switch
(II) Key Layout Area in Central and Western China (Sichuan, Shaanxi, Henan, Hebei, and Shanxi) – High-End Specialized Area
This region has a relatively small number of factories, but a high concentration, mainly located in core cities (such as Xi’an in Shaanxi, Chengdu in Sichuan, Baoding in Hebei, and Zhengzhou in Henan). Relying on leading central state-owned enterprises and key local enterprises, it has formed a layout characterized by “high-end, specialized, and scenario-based” development, primarily serving the needs of major national projects and regional power development.
1. Scale and Strength: These factories are mainly large enterprises, mostly production bases under central state-owned enterprises or leading local enterprises. They have large production capacity, generally exceeding 5 million kVA per year, and possess strong technical capabilities. They focus on the R&D and manufacturing of high-end high-voltage and ultra-high-voltage products, with a high proportion of R&D investment, and core technologies reaching international advanced levels. For example, China XD Electric in Xi’an, Shaanxi; Baobian Electric in Baoding, Hebei; and TBEA in Chengdu, Sichuan are all national-level core R&D and manufacturing bases for power transmission and transformation equipment, undertaking numerous national major technical equipment development tasks and serving as a core force in ensuring national energy security.
2. Transformer Capacity and Grade The company primarily produces high-voltage and ultra-high-voltage (UHV) products, focusing on 110kV and above transformers. Its core focus is on high-end products such as 220kV-1000kV high-voltage and UHV AC/DC transformers, converter transformers, and nuclear power main transformers. Medium-voltage product capacity accounts for a relatively small proportion. Companies such as China XD Group, Baobian Electric, and TBEA can mass-produce 1000kV UHV AC transformers and ±800kV and above UHV DC converter transformers. Baobian Electric is a major supplier of nuclear power main transformers in China, providing key equipment for major nuclear power projects such as the “Hualong One,” and its technology ranks among the world’s best. Some local companies focus on 110kV-220kV high-voltage products, supporting regional power grid construction.
3. Customer Base Our customers are primarily power grid companies and large-scale engineering projects, with high concentration: First, State Grid and China Southern Power Grid, which mainly purchase high-voltage and ultra-high-voltage products for ultra-high-voltage transmission lines and the main power grid construction in central and western China; second, major national projects, including nuclear power, hydropower, thermal power, and new energy bases (such as the Northwest wind and solar power base), which purchase customized high-end transformer products; third, local power companies and large industrial enterprises, supporting regional power upgrades and industrial project construction. These customers are highly stable, with large order volumes, and many are long-term strategic partners.
4. Application Scope Application scenarios focus on high-end and critical fields, including: First, ultra-high voltage (UHV) power transmission and distribution, providing core equipment for my country’s UHV AC/DC projects and supporting cross-regional energy allocation; second, major energy projects, including large power plants such as nuclear power, hydropower, and thermal power, providing core equipment such as generator main transformers and converter transformers to meet the needs of megawatt-class units; third, power grid construction in central and western China, used for upgrading and transforming regional power grid backbones to improve power transmission efficiency and stability; fourth, supporting new energy bases, providing high-voltage step-up transformers for new energy bases (wind power and photovoltaic) in Northwest and Southwest China to support large-scale grid connection of new energy; some companies’ products are also used in special scenarios such as rail transit traction power supply.