China's cable consumption increased significantly

China's cable consumption increased significantly Wu Weihong, Director of the UL Wire and Cable Business Unit in Greater China, said at the “2013 China Wire & Cable International Market Development and Technology Symposium” held on April 9th: “Since 2006, cable consumption in Europe, North America and Northeast Asia is Gradually decreased, but China's cable consumption has increased significantly."

Wu Weihong introduced that since 2009, the global cable market has gradually recovered from the economic recession. At present, the annual output value of the global cable market has reached 161 billion US dollars. Among them, low-voltage cables (less than 1KV) accounted for 38%, power cables (greater than 1KV) accounted for 29%, winding wires accounted for 16%, photovoltaic cables accounted for 10%, data cables accounted for 4%, communication cables accounted for 3%.

Wu Weihong believes that at present, the growth rate of developing economies is higher than that of mature markets, accounting for nearly 58% of global demand. Since 2006, cable consumption in Europe, North America, and Northeast Asia has gradually decreased, while cable consumption in China has increased significantly. It is not that the demand for foreign cable market is reduced, but the global wire and cable manufacturing industry is changing. The rise in manufacturing costs has caused the global cable manufacturing industry to gradually shift to developing countries.

According to statistics, currently the US wire and cable market has an annual output value of US$20.1 billion, construction lines 29% (about US$5.9 billion), and power cables 17% (about US$3.3 billion). Wu Weihong predicts that in 2015, the US wire and cable market will grow by 27 billion U.S. dollars. Among them, construction cables will increase by 9.5% and power cables will increase by 4.7%.

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