In recent years, the development of power grids, new energy generation, and energy storage has provided new opportunities for the development of cable and cable accessories business.
Market development prospects are good
Under the favorable conditions of continuous increase in national investment and continuous development of the transmission and distribution industry, the development prospects of the cable accessories market are good.
Under the important strategic goal of "double carbon", the installed capacity of new energy represented by photovoltaic and wind power shows a steady growth trend, wind power and photovoltaic power generation need to use a large number of 1-35kV cable accessories, while photovoltaic and wind power station grid-connected voltage lifting process also need to use cable accessories corresponding voltage levels. In the offshore wind power generation link, the special power generation scenario provides a large market space for cable accessories with high voltage levels.
High voltage cable accessories have very high margins
The production process of high-voltage and ultra-high-voltage cable accessories is complicated and the technical barriers are high. In the cable transmission system, the cable accessories bear 95% of the safety responsibility of the cable system, so the customer of Party A has extremely strict requirements on the safety and stability of the cable accessories (the national grid requires that the failure rate should not be higher than 5 ‰).
From the market share can be seen, the accessories market CR5 is about 46%, CR10>90%, the overall competition pattern is acceptable, 500kV cable accessories currently only long cable technology, an intelligent electricity, Hancable shares, Woer nuclear materials and other very few companies have the ability to localization, unit value content is very high, gross profit margin of about 70%-90%. There are no more than 10 domestic enterprises with the production capacity of 220kV cable accessories, and the gross profit margin is about 60-70%.
