About Aluminum Wire
Aluminium wire, a wire that is used for electrical wiring in various applications such as houses, power grids, aeroplanes, among others. It is an alternative conducting material considering its electrical and mechanical properties and price compared to copper wire. Aluminium is a poorer electrical conductor compared to copper, so it is infrequently used in small applications includes home wiring. The growth in the demand towards diverse, innovative product grades for electrical and automotive applications may stimulate aluminium wire market size globally.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 4.1% |
Market players are focusing on providing aluminium wire with higher quality along with complying all regulatory standards to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive features to further offer qualified aluminium wire. The market is fragmented owing to the presence of several international and local providers. The high focus on the offering cost effective product offerings. Besides, the numerous industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Aluminum Wire market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Kaiser Aluminum (United States), Baotou Aluminium (China), Vimetco NV (The Netherlands), RUSAL (Russia), Southwire Company, LLC. (United States), Southern Cable Sdn. Bhd. (Malaysia), ACL Cables (Srilanka), LWW Group (Sweden), Norsk Hydro ASA (Norway), DUCAB (United Arab Emirates) and Alro Steel Corporation (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Aluminum Wire market by Type (Pure Aluminium Wire, Alloy Aluminium Wire and Others (Enameled, Paper Insulated, Nomex Insulated, Mica Insulated, and Other)), Application (Motor, Home Appliance, Transformer and Others (Reactor, watch coil, generator, Switches and Meters, Circuit Breakers, and Others)) and Region.
On the basis of geography, the market of Aluminum Wire 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). If we see Market by Shape Type, the sub-segment i.e. Round will boost the Aluminum Wire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Automotive will boost the Aluminum Wire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand from Automotive and Airspace Industry Globally and Huge Investment in Research and Development in the Metal Industry
Market Growth Drivers:
Increasing Demand of Aluminium Wire from Various Industries such as Automotive, Consumer Electronics, among Others and High Adoption Rate due to Light Weight of Aluminium Wire in Electrical Sector
Challenges:
Fluctuations of Aluminum Wire Price
Restraints:
Regulatory Policies Might Impact the Market
Opportunities:
Rapid Urbanization Translating to A Large Number of New Construction Projects Worldwide and Growth in Infrastructure Investment and Industrialization in Developing Nations
Market Leaders and their expansionary development strategies
In December 2021, Vedanta Aluminium Business has launched high-speed billets for the global extrusion industry. Company is one of the leading manufacturer and exporter of high-quality aluminium billets. Company's aluminium billets is utilized in , building & construction, solar/renewable energy, automotive, electrical and many other key industries through the extrusion process. With this new launch, company has expanded its portfolio for the wide range of end use industries.
In October 2021, Toyota Boshoku Corporation expanded its business capabilities with to adopting aluminium wire in Wire Harnesses for Automobile Seats. Aluminium wires are adopted in the wire harnesses (“WHs”) for first time. It is majorly consumed for in Toyota Boshoku seats installed in the new Toyota Land Cruiser 300. Company has adopted aluminium electrical wire in 115 out of 152 circuits, weight is reduced by 44%. Thus, it is known for contributing for improving environmental performance of automobiles.
"Canada's Department of Finance (Finance) is introducing additional changes to ensure that imports of aluminum and steel into Canada do not increase beyond historical levels. Beginning September 1, 2019, certain aluminum products face additional monitoring, as a result of being added to the Import Control List under the Export and Import Permits Act. Aluminum import shipments into Canada must cite a certain permit (i.e., a General Import Permit) on CBSA import declarations. This change is intended to alert Canada as to whether a global oversupply of aluminum is making its way into the country."
Key Target Audience
Aluminium Wire Manufacturers, Raw Material Distributors/Suppliers, Traders, Wholesalers, Government Regulatory Bodies, Automobile Manufacturing Companies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.