Export Market: Stable Demand in Europe and the U.S., Growth in Emerging Markets
According to data from China’s General Administration of Customs, China’s export value of power adapters reached approximately 28 billion yuan in the first half of 2023, representing a year-on-year increase of 8%. Europe and the U.S. remained the largest markets (accounting for 55% of total exports), though demand growth slowed to around 5% due to inflationary pressures.
Emerging markets such as Southeast Asia (Vietnam, Indonesia) and the Middle East (Saudi Arabia, UAE) have emerged as new growth drivers. Benefiting from the shift of local electronics manufacturing (e.g., Samsung and Foxconn setting up factories in Vietnam) and the popularization of consumer electronics, exports to these regions grew by over 15% year-on-year.
Domestic Market: Dual-Driven by Consumer Electronics and New Energy Vehicles
Consumer Electronics: The iPhone 15 series supports 30W fast charging, while mainstream Android flagship phones have upgraded to over 100W fast charging, driving demand for adapters to shift toward higher power. Demand for adapters for small devices such as TWS earbuds and smartwatches remains stable, with an annual growth rate of around 10%.
New Energy Vehicles (NEVs): Surging demand for power adapters matching on-board chargers (OBC) and portable charging guns has led to a 30% year-on-year growth in the market size of automotive adapters in the first half of 2023. Companies such as Derun Electronics and Inovance have reported full order books.
