1.Analysis of production and sales volume of galvanized steel wire industry
In recent years, with the continuous increase in the total electricity consumption of the whole society in China and the accelerated process of smart grid construction, the demand for power cables has been constantly rising. As one of the important framework materials for power cables, the market output and demand of galvanized steel wire have been continuously growing accordingly. According to the data, in 2022, the total electricity consumption of the whole society across the country was 8,637.2 billion kilowatt-hours, increasing by 3.6% year-on-year. From January to August 2023, the cumulative electricity consumption of the whole society was 6,082.6 billion kilowatt-hours, growing by 5.0% year-on-year. In 2022, the output of galvanized steel wire in China reached 559,000 tons, increasing by 15.98% year-on-year, and the demand reached 527,000 tons, growing by 17.37% year-on-year.
2. Market size of galvanized steel wire industry
The overall market size of galvanized steel wire in China is on the rise. According to the data, the market size of galvanized steel wire in China was approximately 2.76 billion yuan in 2022, representing a year-on-year growth of 21.1%. Meanwhile, in the field of construction, galvanized steel wire is applied to building steel structures and reinforced concrete structures. In the automotive field, galvanized steel wire is used in car parts such as the body, chassis, tires and engines. Therefore, in the long term, as downstream applications continue to expand, the market size of galvanized steel wire is expected to keep growing, and the industry has broad prospects for development.