Recently, the National Energy Administration held a national video conference on the development and construction scheduling of renewable energy. The conference summarized the development of renewable energy in the first quarter of 2024 and put forward the work requirements for fully promoting the construction of three batches of large-scale wind and photovoltaic bases. This policy has had a profound impact on wire and cable companies. The Pearl River Cable will analyze this impact from the aspects of demand surge, technological innovation, market competition and policy support.

The surge in demand presents a huge opportunity for the wire and cable market

As the National Energy Administration accelerates the construction of large-scale wind and photovoltaic bases, the demand for wires and cables will significantly increase. According to conference data, in the first quarter of 2024, the country/s newly installed renewable energy capacity was 63.76 million kilowatts, accounting for 91.8% of the country/s newly installed power generation capacity. Such a large-scale project construction inevitably requires a large number of wires and cables to meet the transmission needs of wind and photovoltaic power generation projects.

Especially for wind and photovoltaic power generation bases, which are usually located in remote areas, the distance between power generation facilities and the power grid is far, requiring high-quality wires and cables to ensure stable power transmission. For wire and cable companies, this is an unprecedented market opportunity. By actively participating in these projects, companies can expand their market share and achieve rapid growth in performance.

Technological innovation drives the transformation and upgrading of wire and cable enterprises

Wind and photovoltaic power generation projects have high technical requirements for wires and cables. In addition to conventional transmission performance, it is also necessary to consider various aspects such as weather resistance, UV resistance, and fire resistance. To meet this demand, wire and cable companies need to increase research and development investment, promote technological innovation, and improve product performance and quality.

Market competition, reshaping of industry landscape

The construction of three batches of large-scale wind and photovoltaic bases promoted by the National Energy Administration will attract a large number of wire and cable companies to participate, and market competition will become increasingly fierce. Wire and cable enterprises need to form comprehensive competitive advantages in quality, price, service, and other aspects in order to stand invincible in the fierce market competition.

In addition, policy support and market guidance from local governments and power grid enterprises will also have a significant impact on the competitive strategies of wire and cable enterprises. Enterprises need to closely monitor policy trends, flexibly adjust market strategies, actively participate in the construction of local new energy projects, and increase market share.

The National Energy Administration is fully promoting the construction of three batches of large-scale wind and photovoltaic bases, which presents both opportunities and challenges for wire and cable enterprises. Enterprises need to seize policy dividends, actively promote technological innovation, continuously improve product quality and market competitiveness, in order to cope with the surge in market demand and changes in the industry landscape. In this hopeful market environment, wire and cable enterprises will surely usher in even better development prospects.