Cable is an umbrella term to refer to optical cables and electric cables. Cables are used to control and install, connect devices, and transmit power and electrical signals, supporting various industries and ensuring the operation of the economy.
China is world's largest cable manufacturing country. China's wire and cable industry has two characteristics. First, the overall industry is growing. Second, wires and cables are becoming increasingly important in the electrical and appliances industry. Future development of the wire and cable industry is quite promising.
China's wire and cable industry is highly competitive. By the end of 2015, there had been 3,836 wire and cable manufacturers, increasing by 122 from 3,714 at the end of 2012. In 2016, sales of the cable industry exceeded CNY 1 trillion. Products are concentrated in the mid to low-end markets. Meanwhile, industry concentration rate is low, with small and medium enterprises accounting for 95%. Despite the fragmentation caused by low concentration rate, the industry has been growing rapidly. The development is characterized by fast improvement in production efficiency, acceleration in production upgrading and better product structures.
In the next few years, China's new energy, automobile and VR industry will keep booming, facilitating the development of the cable industry.