Market Snapshot:
Copper is highly used in electric wiring. Copper acts as a conductor in electric wiring. These wirings are extensively used in power transmission, power generation, power distribution, electronic circuitry, telecommunication, as well as in several other electrical equipment. Copper wires are extensively used for wiring due to many advantages like highest electrical conductivity among the commercial metals except silver, formability, strength, high thermal conductivity, ease of joining, and resistance to corrosion. The growing demand for the electricity coupled with the increasing investments in building construction are the factors that drive the growth of the global copper cable market over the coming years.
Segment Analysis
AMA Research have segmented the market of Global Copper Cable market by Type, Application and Region. On the basis of Type, Copper Wire are dominating the market in the year 2020
On the basis of geography, the market of Copper Cable has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020.
Market Trend
Strong investments in building construction
Market Drivers
Growing demand for electricity and Advancements in mining techniques
Opportunities
Growing demand for consumer electronics
Restraints
- Fluctuating copper prices
In addition to the aforementioned factor, Growing demand for electricity
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
Players in the global copper cable market have adopted strategies like collaborations, expansions, agreements, and joint ventures, as well as are engaging in the development of new products with high speed & better features to improve product portfolio so as to hold strong position in the market.
The key Vendors profiled in the study are Hitachi Cable (Japan), KGHM (Poland), Luvata Oy (Finland), Aberdare Cables (South Africa), Elektrokoppar (Sweden), Mitsubishi Materials Corporation (Japan), Aviva Metals (United States), Sandvik AB (Sweden), Tatung Company (Taiwan) and Ningbo Jintian Copper Group (China). A lot of United States players are profiled in the research study indicating a strong market dependence.