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Which cable products will have high market demand in 2024?(2)

April 02, 2024

New energy vehicles

New energy vehicle cables can be divided into in-car cables, charging pile cables and on-board charging cables according to different application scenarios. The rapid development of new energy electric vehicles has provided good market opportunities for its supporting cable industry. As vehicle manufacturers increase their investment in the field of new energy vehicles, vehicle electrification has become a general trend, and new energy vehicle cables will also usher in new growth points. It is expected that the size of my country's automotive cable market will reach 18.06 billion yuan in 2025. Whether from the perspective of industrial transformation or energy strategy, the prospects of new energy automobile cables are very broad. In the next five years, the field of new energy automobile cables will usher in huge development space.

Marine construction

China's submarine cable industry has shown a fluctuating upward trend in recent years. In 2020, driven by the "rush to install" offshore wind power, the size of the submarine cable market increased significantly by 12.64% year-on-year, reaching approximately 13.4 billion yuan, reaching its peak in recent years. Based on the future demand for offshore wind power, international communication network upgrades, and offshore oil platform development in multiple application fields, China's submarine cable market is expected to reach 20 billion yuan in 2027, with a compound annual growth rate of approximately 6%.

Special equipment

At present, industries such as shipbuilding, rail transportation, clean energy, aerospace, petrochemicals, and new energy vehicles all require the use of a large number of special cables. With the advancement of science and technology, the transformation and upgrading of traditional industries, and the vigorous development of strategic emerging industries and high-end manufacturing, my country's economy and society are further developing towards safety, environmental protection, low-carbon energy conservation, informatization, and intelligence. The construction and modernization of national smart grids Urban construction, large-scale transformation of urban and rural power grids, and new energy power station construction have put forward higher requirements for the application of wires and cables, which also provide new development opportunities for the development of special wires and cables.

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