About Copper Magnet Wire
Magnet wire is copper wire with a coating of insulation and is used in transformers, electromagnets, tesla coils, speakers, guitar pickups, inductors, and motors, among others. It is available in numerous sizes, temperature ratings, and colors. Copper Magnet wire allows multiple layers of wire to be wound together without short-circuiting. The growing market of electric vehicles and consumer electronics fueling the growth of the market and is expected to open lucrative opportunities during the projected period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is highly competitive owing to the presence of leading players within the market. Some of the prominent vendors are adopting some organic and inorganic strategies such as a merger, acquisition, partnership, expansion, and new product launches in order to gain leading share within the market. Some of the companies are constantly focusing on the technological advancements in order to cater the products as per the market necessities. Analyst at AMA Research estimates that Chinese Manufacturers will contribute the maximum growth to Global Copper Magnet Wire market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Rea Magnet Wire Company (United States), Superior Essex (United States), Sumitomo Electric Industries, Ltd. (Japan), Liljedahl (Sweden), Fujikura (Japan), Hitachi (Japan), IRCE (United States), Magnekon (Mexico), Condumex (United States), Elektrisola, Inc. (United States), Von Roll Holding AG (Switzerland), Alconex (United States) and Jingda (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Citychamp Dartong (China), Shanghai Yuke (China), Roshow Technology (China), Shangfeng Industrial (China), Tongling Copper Crown Electrical (China), HONGYUAN (China), Ronsen Super Micro-Wire (China), Shenmao Magnet Wire (China), GOLD CUP ELECTRIC (China) and Tianjin Jing Wei Electric Wire (China).
Segmentation Overview
AMA Research has segmented the market of Global Copper Magnet Wire market by Type (Enameled wire, Covering Wire and Others), Application (Motors, Transformers, Home Appliance, Reactor and Others) and Region.
On the basis of geography, the market of Copper Magnet 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 Distribution Channel, the sub-segment i.e. Direct Sales will boost the Copper Magnet Wire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Wire Shape, the sub-segment i.e. Rectangular will boost the Copper Magnet Wire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Wire Size, the sub-segment i.e. <20 AWG will boost the Copper Magnet Wire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Growing Market of Electric Vehicles is Likely to Boost the Demand, High Demand from the Power Sector Fueling the Growth of the Market and The Rapidly Growing Consumer Electronics Industry
Challenges:
Cracking and Bulging of Insulation
Restraints:
Shift towards Compact Motors Act as a Restraints for the Market
Opportunities:
Growing Demand from the APAC Region
Market Leaders and their expansionary development strategies
In March 2023, Elektrisola and Rea Magnet Wire acquired Rea’s North American magnet wire assets. The acquisition will expand the growth of companies.
In May 2023,Solvay, a global market leader in specialty materials, launched of KetaSpire® KT-857, a new polyetheretherketone (PEEK) extrusion compound designed especially for copper magnet wire insulation in electric motors. The development of the custom-engineered insulation material was driven by the move of OEMs towards higher density batteries and electric powertrains operating at 800V or above to address the range anxiety of consumers.
Key Target Audience
Copper Magnet Wire Manufacturers, Copper Magnet Wire Traders/Distributors, Traders/Distributors, Importer/Exporter, Regulatory & Government Bodies, 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.