Wire and cable are wire products used to transfer electrical (magnetic) energy, information, and electromagnetic energy conversion. Widely used in various sectors of the national economy, providing important support for various industries, national defense construction and major construction projects.

China's wire and cable industry has formed a huge production capacity based on a large number of technology introduction, digestion and absorption as well as independent research and development. The product variety satisfaction rate and domestic market share have exceeded 90%. Large wire and cable manufacturing companies have obvious advantages in terms of market competitiveness, and the market is developing rapidly.

At present, China's wire and cable industry has fierce market competition. Most domestic small and medium-sized enterprises use price competition. Wire and cable enterprises lack sufficient development stamina and their independent innovation capability is not strong. In the mid- and low-end wire and cable markets where technology added value is relatively low, price reduction and sales are quite common.

As the global wire and cable market matures, the wire and cable manufacturing industry slows down, the growth rate is small, demand is declining, the capacity of cable companies is relatively surplus, prices are lower, competition among enterprises is intensified, and copper, aluminum, and plastics are the main factors. Rising raw materials and other factors have caused many cable companies to struggle.

International cable companies use the methods of mergers and acquisitions, external expansion and transfer of production bases between companies to occupy the market, and have a large share in the international market.

According to relevant industry sources, the entry of foreign wire and cable companies in recent years has further aggravated the market competition in the domestic wire and cable industry.