In order to find out about the main trends in the market of wire and cable we first need to have an overview on the vast industry underlying them.
they are mainly utilized in the transmission of electrical energy and information as well as the realization of electromagnetic energy conversion.
Wires (bare wires), power cables, wires and cables for electrical equipment, communication cables, and winding wires are the five primary categories that are used to classify the various types of wire and cable goods available on the market today.
From the perspective of the industrial chain, the upstream of the wire and cable industry is primarily the basic raw material industry that improves wire and cable raw materials, such as copper and aluminum, the rubber industry that manufactures cross-linked insulating sleeves and sheathing materials, polyethylene, polyvinyl chloride chemical industries, etc.; the midstream of the wire and cable industry primarily includes wire and cable manufacturers.
In recent years, the market size of the wire and cable industry in China has expanded rapidly.
This growth can be attributed to the rapid development and continuous expansion of various industries in China, including China's electric power, petroleum, chemical, urban rail transit, automobile, and shipbuilding industries.
According to the data, the total revenue from sales of wire and cable reached 1.4 trillion yuan between 2015 and 2019, representing a year-on-year increase of 21.7 percent.
According to the statistics, the cumulative number of wires and cables imported into my country from January to October 2020 was 170,000 tons, representing a year-on-year decrease of 4.1 percent, and the cumulative number of wires and cables exported from China represented 1.67 million tons, representing a year-on-year decrease of 5.6 percent.
These numbers are based on the volume of imports and exports.
north america wire and cable market
Global Market Insights, a Delaware-based consulting firm, predicts that the wire and cable market in North America will grow in 2021-2027 because to the extension and redesign of building foundations and the improvement of smart lattice organizations.
The annual growth rate will be 6%.
By 2027, the North American wire and link market will be $44 billion.
Growing interest in foundation development and smart frameworks to meet rising power needs will drive market growth.
As interest in consumer hardware grows, the web-based commercial industry will speed up product reception.
The widespread use of wire and link in environmentally friendly power and rigorous unofficial legislation to prevent ozone depleting chemical emissions would further boost industry.
Wire and connection are designed to transmit energy and information in numerous applications, which will promote their use in broadcasting.
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