Analysis of Current Situation of China's Wire & Cable Industry

editor:Zhong Hai wire & cable Co., Ltd. │ Release time:2019-05-31 

Wire and cable are indispensable basic equipment for transmitting electric energy, transmitting information, and manufacturing various motors, electric appliances, and meters, and are essential basic products in the future electrification and information society. The wire and cable industry is a supporting industry, and the products must meet the performance requirements of each major industry. Most industries in the national economy are related to wire and cable. Therefore, wires and cables have been hailed as the "blood vessels" and nerves of the national economy.

In the past ten years, China's wire and cable industry has made considerable progress, and the output value of the industry with 1.1 trillion exceeded the United States once to rank first in the world. At present, the global wire and cable market scale has exceeded 100 billion euros. In the global wire and cable industry, Asia's market size accounts for 37%, European market is close to 30%, the American market accounts for 24%, and other markets account for 9%. As China's power grid smart grid construction and the corresponding rural power grid renovation project continue to advance and enter the actual construction stage, the domestic wire and cable industry has ushered in the development opportunities, but behind the prosperity, the internal problems of the industry is still in a very bad status.

At present, the technical strength of the cable industry in China is still not very strong, and it lags behind similar foreign products in many aspects. When the smart grid construction is temporarily suspended for three years, the domestic cable industry may usher in a new round of industrial recession. Therefore, at the same time as the rapid development of the domestic cable industry, further increase the investment in technology research and development to create a large and strong industrial chain.