Magnet Wire - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Magnet Wire Market is accounted for $28.44 billion in 2018 and is expected to reach $47.25 billion by 2027 growing at a CAGR of 5.8% during the forecast period. Factors such as high demand from the power sector, and growing market of electric vehicles are driving the growth of the market. However, shift towards compact motors is restraining the market growth.
Magnet wire or enameled wire is a copper or aluminium wire coated with a very thin layer of insulation. It is used in the construction of transformers, inductors, motors, generators, speakers, hard disk head actuators, electromagnets, electric guitar pickups and other applications that require tight coils of insulated wire. The product is used for exchanging magnetic as well as electric energy and is available in rectangular, square, and round cross-section.
Based on application, motor segment is expected to have a huge demand in the forecast period due to the growth of the transportation industry. The consumption of magnet wires in motor application is witnessing high growth in the automotive sector. By geography, Asia pacific is going to have a lucrative growth during the forecast period owing to thriving transport and electronics & electrical sectors.
Some of the key players in Global Magnet Wire market include LS Cable & System, Elektrisola, REA Magnet Wire, Sumitomo Electric Industries, Ltd., Samdong Co., Ltd., LWW Group, IRCE S.p.A., Tongling Jingda Special Magnet Wire Co., Ltd., Furukawa Electric Co., Ltd., Fujikura Ltd., Hitachi Metals, Ltd, Condumex Inc., Von Roll Holding AG, Roshow Technology Co., Ltd., and Precision Wires India Limited.
• Rectangle Magnet Wire
• Square Magnet Wire
• Round Magnet Wire
• Round Bondable Magnet Wire
• 105 °C
• 130 °C
• 155 °C
• 180 °C
• 220 °C.
• Aluminum Magnet Wire
• Copper Magnet Wire
• Home Appliance
• Other Applications
End Users Covered:
• Electrical & Electronics
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
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- Supply chain trends mapping the latest technological advancements
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