19-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Copper Magnet Wire Market By Product (Enameled Wire Copper, Enameled Aluminum Wire, Covering Copper Wire, and Covering Aluminum Wire), By Industry (Motors, Transformers, Home Appliance, Reactor, and Others) and By Sales Channel (Direct Sales, and Retail): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global copper magnet wire market in 2019 was around USD 25,000 million. The market is expected to grow at a CAGR of 3% and is anticipated to reach around USD 31,000 million by 2026.
Copper Magnet wires, also known as enameled wires or winding wires coated with a very thin layer of insulation. It has multiple applications including windings, generators, transformer windings, electric motors, induction coils, transformers, relays, compressors, solenoid valves, inductors, etc. The insulation can be a thin film of varnish known enamel, a fiberglass yarn or fibrous polyester; or a mixture of both fibrous insulations and enamel. The wire themself is furthermost often completely annealed, electrolytic polished copper. Sometimes it used aluminum magnet wire for big motors and transformers.
The insulation is usually through hard polymer film slightly than a coating, equally the name might suggest. Electric motors transform to electrical energy into mechanical motion, typically the interface of current-carrying conductors and magnetic fields. The major electric motors through evaluations in the thousands of kilowatts are recycled in uses as the propulsion of large ships. The minimum motors transfer to hands in electric watches.
Browse the full “Copper Magnet Wire Market By Product (Enameled Wire Copper, Enameled Aluminum Wire, Covering Copper Wire, and Covering Aluminum Wire), By Industry (Motors, Transformers, Home Appliance, Reactor, and Others) and By Sales Channel (Direct Sales, and Retail): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/copper-magnet-wire-market-by-product-enameled-wire-836
Globally, the copper magnet wire market is mainly driven by increasing demand for transformers and motors which accounts for around 50% of total downstream consumption of copper magnet wire in 2018. Rising demand for white goods such as fridges, washing machines, refrigerators, air conditioners water well pumps, and other large electrical household equipment is also a driven copper magnet wire market.
Global copper magnet wire market divided into major regions like Europe, Asia Pacific, Latin America, North America, and Middle East & Africa. Amongst the above-mentioned regions, Asia Pacific is estimated to grow at a significant rate over the forecast period. The industrial advancement inbuilt-up to processing is projected as a key market driver in the region.
On the basis of product, the copper magnet wire market is segmented as enameled wire copper, enameled aluminum wire, covering copper wire, and covering the aluminum wire. Enameled wire copper wire using a tinny layer of insulation and it is used in a variety of applications with instruments, transformers, solenoids, wound coils, and motors.
On the basis of Industry, the copper magnet wire market is segmented as motors, transformers, home appliances, reactors, and others. The largest electric motors are mostly used for pipeline compression, ship propulsion, and pumped-storage applications. Electric motors are generally used in blowers and pumps, industrial fans, machine tools, power tools and disk drives, and household appliances. Small motors may be found in electric watches.
On the basis of the sales channel, the copper magnet wire market is segmented as direct sales and retail. The direct sales segment is anticipated to account for substantial revenue share in the global copper magnet wire market over the forecast period.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 25,000 Million |
Projected Market Size in 2026 |
USD 31,000 Million |
CAGR Growth Rate |
3% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Ronsen Super Micro-Wire, Superior Essex, Tongling Copper Crown Electrical, Rea, Sumitomo Electric, Shanghai Yuke, Hitachi, IRCE, CitychampDartong, Magnekon, Condumex, Jingda, Elektrisola, Von Roll, and Others |
Key Segment |
By Type, Industry, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the key players operating in the market include
Ronsen Super Micro-Wire, Superior Essex, Tongling Copper Crown Electrical, Rea, Sumitomo Electric, Shanghai Yuke, Hitachi, IRCE, CitychampDartong, Magnekon, Condumex, Jingda, Elektrisola, Von Roll, and Others.
This report segments the copper magnet wire market as follows:
By Type Segmentation Analysis
- Enameled Wire Copper
- Enameled Aluminum Wire
- Covering Copper Wire
- Covering Aluminum Wire
By Industry Segmentation Analysis
- Motors
- Transformers
- Home Appliance
- Reactor
- Others
By Sales channel Segmentation Analysis
By Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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