With the development of local government work in 2023, policies to stabilize the economy, protect people’s livelihood, and promote consumption will also be intensively introduced. As an indispensable lighting industry in economic development, urban construction and residents’ life, it will also usher in new opportunities for development.

With the advancement of national favorable policies such as “Double Carbon Target”, “Digital Economy”, and “Healthy China”, new processes and technologies that meet the requirements of national development have been continuously proposed, giving the industry more added value and room for imagination. At present, there is a new wave of technological revolution and industrial transformation, and industrial digitization has become a trend. Promoting the green and low-carbon development of the lighting industry through digital transformation is a new task and urgent requirement for industrial transformation and upgrading under the “double carbon” goal.

LED drive power supply is an indispensable part of LED lighting products, and it is also one of the main factors affecting the stability of LED lighting products. The rapid growth of the global LED lighting market has promoted the continuous development of the LED power supply industry. At present, the LED drive power supply industry has a large room for development.

After more than ten years of development, enterprises in the LED drive power supply industry present a highly market-oriented competition. At present, the main enterprises of LED driving power include MEAN WELL, MOSO Power, Inventronics and Songsheng. According to a report by Micro Technology Consultant in March 2023, MEAN WELL ranked third among global power supply (DC output) manufacturers, and most of the top two power supply manufacturers use ODM/OEM as their main source of revenue, while Ming Well 99% of WELL’s revenue comes from standard power supplies. It is a power supply manufacturer with its own brand – MEAN WELL as its main business strategy.

Invisibility does not hide, step by step to build brand potential.

General Secretary Xi Jinping emphasized: “High-quality development is the theme of my country’s economic and social development in the ’14th Five-Year Plan’ and even longer.”

Faced with fierce competition in the global power supply market, many international manufacturers are constantly adjusting their market development strategies, and MEAN WELL is no exception. In the fierce power supply market, we will continue to intelligently manufacture and innovate to adapt to the changes and development of the market.

In the fierce market competition, only competitive enterprises can achieve long-term stability; in the long-distance running of sustainable development, only innovation-driven enterprises can gain long-term competitive advantages; in the overall pattern of economic and social development, only value-sharing enterprises In order to achieve the organic combination of economic and social benefits.

In order to achieve sustainable development of the enterprise, how to make good use of the integration power of the group and maximize the strength of each individual is the key point of the current enterprise operation and development. MEAN WELL continues to cultivate the five core values, including brand, channel, computerization, innovation and global certification, and takes cultivating the successor team for the future as its primary task.

As a new generation of invisible champions who are constantly creating growth engines, MEAN WELL has used the concept of Porter’s Five Forces to create a unique development competitiveness of the company as early as the beginning of the brand’s establishment. Competitors build a “trusted partner” relationship, give full play to their professional capabilities, and serve every end customer well. Relevant data shows that MEAN WELL has more than 200 distribution partners around the world, they can touch any corner of the market, and can play a very good role in opening up market awareness and establishing a strong sales network.

At the same time, in the layout of MEAN WELL, it is expected to use the two major brands of “Lianyuan Group” and “Xiewei Group” to lead the development of “ESG enterprises”, so that the upstream and downstream of the industry can be integrated more deeply. In addition to breaking the original competition and cooperation relationship, Also inspires more elasticity and creates more resilience.

Launch subdivided products and explore the road of diversified development.

As the most complete power supply brand on the market, the enclosure type power supply and LED drive power supply are the two mainstream products of MEAN WELL. In addition, MEAN WELL has launched six subdivided products for medical, green energy, security, transportation, information and communication industries, providing diversified power supply options. At the same time, KNX products were launched to enter the intelligent building automation market.

During the National Two Sessions in 2023, “digital economy” will be one of the hot topics. So how to multiply the “numbers” and embrace the “new blue ocean” of the digital economy is also a must-answer question for enterprises to achieve high-quality development. Under consumption upgrading and a new round of lighting industry transformation, MEAN WELL pays attention to intelligent development. Ren Xiang, Vice President of MEAN WELL’s business in China, told reporters, “In the future, MEAN WELL will develop a series of products in an all-round way, not only in lighting power supplies, but also in intelligent control and overall solutions.”

The innovation and development of enterprises must closely follow the pace of market demand, and accurately analyze and judge the future development direction of the market in order to maintain an invincible position and bring growth.

Zheng Zhide, Director of Overseas Region of MEAN WELL Group, also observed that if major key component manufacturers want to grow again, they must develop towards diversification, systematically build an ecological chain, and stimulate more synergistic effects. He said, “It may be feasible for MEAN WELL to reach an annual revenue of US$2 billion relying solely on power supply products, but if it wants to grow sustainably, it needs more kinetic energy to reach new heights.”

Aiming at the goal of sustainable development and building an SDG industry value network.

MEAN WELL has successfully transformed trust into the sustainable growth of the organization, creating a global leading brand of standard power supplies. Committed to promoting the concept of “SDG industry value network”, from focusing on the industry in the past to pursuing more synergistic expansion and deeply integrating upstream and downstream supply chains. In addition to breaking the original competition and cooperation relationship, it also stimulates more flexibility and creates More resilience.

SDG Group adheres to the concept of “trusting partners for sustainable development”, and cooperates with partners to create an SDG industrial value network.

Previously, the founder of MEAN WELL, Lin Guodong, publicly proposed to the industry the idea of ​​establishing an “SDG Group”, combining with the United Nations sustainable development guidelines SDGs, expecting to create 100 ESG companies by 2030. With the establishment of the “SDG Industry Value Network”, MEAN WELL has expanded from focusing on its own industry in the past to pursuing more synergistic effects, and MEAN WELL’s circle of trusted partners has expanded.

The era of great change has come. With the advent of the new industrial economy era, MEAN WELL, the leader in the power supply industry, has driven the industry to create more social value under the wind of the digital economy industry, and is moving towards a century-old sustainable enterprise.