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Global market trend 2023-2027 Analysis of the development trend of the global 50mm cable gland industry by Newskxcad

50mm cable gland industry background

industry background Wire and cable are widely used in all departments of the national economy, which is the fundamental guarantee for the regular operation of the modern economy and society. The development level of the wire and cable industry is also a symbol and epitome of a country's manufacturing level. Europe, America and Japan, such as developed countries, early industrialization at the end of the 20th century, have formed a mature cable industry chain . Contributed to most of the global 50mm cable gland capacity and demand at that time, still occupied an important position in the worldwide supply and marketing, leading the industry's development and monopolizing the global high-end market.

1. The slowing growth of global 50mm cable gland demand has accelerated under the epidemic situation

According to the use scenario, the commonly used international 50mm cable gland divide into two categories indoors and outdoor. Outdoor 50mm cable gland due to wind and snow and environmental climate, working conditions, so its structure is more complex. Indoor 50mm cable gland working conditions are better and do not need a waterproof device. The cable core can directly connect with equipment. At present, indoor and outdoor 50mm cable gland for 10KV and below and outdoor cables sometimes use metal 50mm cable gland . According to data released by CRU, in 2021, global demand for metal 50mm cable gland (conductor weight) slowed significantly due to weak demand in China, with 19 million tons in 2021, up nearly 1% year on year. CRU reported in December 2022 that the global market for 50mm cable gland except in China would shrink by almost double digits in 2021 due to the impact of the pandemic.While market demand is recovering, early weakness will drive double-digit declines in multiple regions in 2021. As a result, the global need for insulated metal 50mm cable gland will shrink by about 5% -6% yearly. According to preliminary estimates, the global demand for metal-insulated wires and cables will fall to 17.86 million tons in 2022.

2. The outbreak has led to lower demand for 50mm cable gland , and The size of the global market is gradually shrinking

The wire and cable market size are above 20 billion dollars as one of the most important manufacturing industries globally. From 2018 to 2021, the market size of the global wire and cable industry generally showed a trend of fluctuation. According to the data released by CRU, the market size of the international metal cable industry was $161 billion in 2019.Up slightly to $172 billion in 2020. The global market size fell slightly to $164 billion in 2021 due to falling demand in China. According to preliminary estimates, the global metal 50mm cable gland market in 2022 was affected by the epidemic, shrinking demand, with market size of $152 billion.

3. The market share of 50mm cable gland in the Asia-Pacific region gradually expanded, and the other areas began to shrink

In recent years, the economic growth of emerging countries and other Asian countries has been fast. The production focus of the world wire and cable production has shifted to Asia, which has driven the rapid development of the wire and cable industry in China, Vietnam, the Philippines and Egypt in the Middle East.According to the report released by the CRU, the outbreak in 2021 led to different effects on the world's other parts except for China. Combined with multiple market data, we summarize the overall development of the power cable industry in the global scope. Manifested by the rapid rise in Asia, the slight decline in America, and the unstable growth in Europe in recent years, which is greatly affected by economic and political factors. The Asia-Pacific region accounts for about 49% of global consumption, while Europe and the Americas account for 15% and 10%.

4. The 50mm cable gland market in Europe, America and Japan is relatively mature, with a high concentration degree

After years of developing the wire and cable industry in developed countries, especially in the face of fluctuations in raw material prices, small enterprises gradually withdrew from the market, and the industrial concentration increased significantly. The top 10 American cable manufacturers (GM, Best, Corning, South, etc.) occupy about 70% of the market share. Seven Japanese cable enterprises (such as Wuhe, Sumitomo, Tengcang, Hitachi, Showa, etc.) account for more than 65% of the market share. Five French cable enterprises (Nexan, etc.) occupy the French market turnover, occupying more than 90% of the French market share. And China's entire wire and cable industry concentration is deficient. CR10 is 17.7%.

5. Emerging markets in 50mm cable gland have increased significantly

In 2021, the global 50mm cable gland market was in turmoil due to the COVID-19 pandemic. As the global economy recovers, China invests in new energy and infrastructure construction, and the global 50mm cable gland market is expected to recover in 2021. The global metal 50mm cable gland market will rebound to $180 billion in 2022.However, in the medium term, the global wire and cable industry will return to healthy growth, driven by government and private investment, after the end of COVID-19 but slowing slightly from the previous five years. Among them, represented by Africa and Southeast Asia, the rapid development of emerging market economies will accelerate their construction, infrastructure, utilities, and industrial development activities. These activities will provide the substantial upward potential for emerging market wire and cable demand. Emerging market demand growth will continue to support the recovery and growth of global demand.

According to the CRU forecast, after 2023, the international wire and cable industry market demand will recover to the level of 2019. The international wire and cable market is expected to expand at an annual growth rate of 5% from 2022 to 2026. The global 50mm cable gland industry market will reach $230 billion in 2026.

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