By 2024, the global copper wire and cable market will reach a size of 1234 billion yuan, and China's leading enterprises will accelerate their overseas expansion
Source: YHResearch, Hengzhou
According to research and statistics from Hengzhou Chengsi, the global copper wire and cable market is expected to reach approximately RMB 1234 billion in 2024, and is projected to approach RMB 1731 billion by 2031, with a compound annual growth rate of 5.0% over the next six years. China, as the world's largest producer and consumer of copper wires and cables, holds an important position in the industry.
The leading companies in the global copper wire and cable market include Prysmian, Nexen, Sumitomo Electric, Koga Electric Southwire、 International giants such as Lenny and LS Cable. In terms of Chinese enterprises, Baosheng Corporation, Smart Energy, Jiangnan Group, China Super League Holdings, Hangdian Corporation, Oriental Cable, Shangshang Cable, Hanban Corporation, Hengtong Optoelectronics, Zhongtian Technology, etc. also occupy a place in the global market.
From the perspective of product types, copper cables and copper wires are the main categories; From the perspective of application fields, communication, power, and construction are the main downstream markets. It is worth noting that, driven by the global energy transition and digital wave, high value-added products such as high-voltage cables for new energy vehicles, submarine cables for offshore wind power, and high-speed data cables for data centers are becoming new growth points.
Related Posts
High Quality Insulated Copper Power Cable for Construction & Industrial Projects
Premium insulated copper power cable for industrial and building power distribution. Stable transmission, safe insulation, available for wholesale and customized specifications.
Harbin cross-linked power cable transformation breakthrough, robot cable becomes a new growth point
Source: Harbin Daily, Dragon TV News Network