Your position: Home > News

Which cable products will have high market demand in 2024?(1)

February 26, 2024

The wire and cable market is a key infrastructure market. With economic development and technological advancement, the demand for wire and cable continues to increase. In the next few years, including 2024, some cable markets will develop significantly, and some cable products will usher in broad market demand. Some people believe that markets are currently relatively stable and will continue to improve in the future, such as the following markets:

Power grid construction
my country's power grid construction is still in the development stage. The higher the voltage level, the more conducive to long-distance power transmission. In the future, large-scale cross-regional power grid construction in China will require long-distance power transmission. Currently, judging from the construction planning of high-voltage and ultra-high-voltage lines, supporting cables The demand is on the rise. According to the State Grid's plan, investment will increase to 520 billion yuan in 2023, a year-on-year increase of 4%. Power grid investment and new infrastructure are the driving force for the development of the cable market.

Photovoltaic/energy storage/hydrogen energy market
The energy sector is an important area of the wire and cable market. With the continuous development of my country's photovoltaic industry, my country's photovoltaic cable industry will still be in a stage of rapid development. It is expected that the size of my country's photovoltaic cable market will reach 18.56 billion yuan in 2023. In recent years, in order to implement the country's strategic deployment of "dual carbon" goals and promote the green and low-carbon transformation of energy, the Chinese government has introduced a series of policies and measures. In the next few years, new energy industries such as photovoltaics, wind power, and energy storage will maintain rapid growth, and the rapid development of their industries will promote the development of photovoltaic cable companies.

Home Mail WhatsApp Inquiry