The development of China's wire harness and cable industry will continue to expand in scale

The development of China's wiring harness industry can be traced back to the 1940s, with early applications mainly in the military and aerospace sectors. The industry's growth was fueled by the relocation of global wiring harness manufacturing centers. Since the reform and opening up, China has rapidly emerged as a global hub for wiring harness production, thanks to its competitive labor costs and abundant resources. Manufacturers from Europe, the United States, Japan, and other countries have established plants in China, driving the rapid development of the domestic wiring harness industry.

SED will participate in the 2023 Consumer Electronics Show at AsiaWorld-Expo in Hong Kong.

In terms of overall market demand, China's market for wiring harnesses has been steadily increasing year by year. This growth is driven by the continuous expansion of downstream industries such as industrial automation, automotive manufacturing, and the increasing role of China as a global manufacturing base. Wiring harnesses are essential upstream components for many industries, including consumer electronics, automotive, rail transportation, and military machinery, thus fueling steady market growth. The demand for wiring harness products in China is also increasing in terms of scale and variety, driven by the constant upgrading of technologies in industries such as telecommunications equipment, consumer electronics, automotive, industrial automation, and healthcare.

According to statistics, China's wiring harness market reached 265.3 billion yuan in 2016, representing a 7.73% increase compared to 2015. The compound annual growth rate (CAGR) of the Chinese wiring harness market from 2012 to 2016 was 6.52%, surpassing the global market growth rate of 3.90%. It is projected that by 2021, the size of the Chinese wiring harness market will reach 387.8 billion yuan, accounting for 39.81% of the global market share, with a CAGR of 6.24% over five years.

Bishop & Associates, a leading market research firm specializing in global connectors, released a forecast for the global connector industry's sales in 2018. 2018 was expected to be a landmark year for the connector industry, with China maintaining its position as a major market for connectors, with sales expected to exceed $20 billion. 2019 was anticipated to be a pivotal year for the global commercialization of 5G communication, presenting a favorable opportunity for communication connectors.

As the global wiring harness cable market gradually shifts towards the domestic market, China has become one of the largest markets for wiring harness cables in the world. The increasing demand for products and advancements in science and technology have led to a continuous rise in the customization requirements for wiring harness cables. Facing this trend, SED continues to increase its investment in technological research and development, aiming to achieve new breakthroughs in core technology innovation for connector wiring harnesses.

Over the years, SED has expanded its product range to include Anderson plug connectors, Anderson connector accessories, Anderson connector OEM wiring harnesses, and power connectors. With extensive experience in research and development, design, production, processing, and sales of power connectors, battery connectors, and connector wiring harness production, SED has accumulated rich experience in the industry.