PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269763
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269763
Global Copper Magnetic Wire Market is valued at approximately 23.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.01% over the forecast period 2022-2029. The copper magnetic wire is an electrical conductor, coated with a thin insulation and made of rigid polymer material. This wire can be used in electric motors, transformers, and generators. The market for Copper Magnetic Wire is anticipated to develop due to the increased demand for copper Magnetic wire in the electronic and automotive industry are key factors accelerating the market growth.
According to Statista- 2019, the worldwide market for consumer electronics is USD 1,028 billion and is expected to grow annually by 2.32%. Thus, the growing demand for electronics will likely drive market growth. Furthermore, the rise in demand for electric vehicles is the primary factor inhibiting the expansion of this industry. For instance, according to the Edison Electric Institute (EEI), electric vehicle (EV) sales around the world were reported at around USD 2.4 Million in 2021 and are projected to reach 26.4 Million by 2030. Also, growing technological advancement is an important factor fueling market growth. Moreover, the rapid industrialization and the growth in Energy Sectors have expected growth of the Copper Magnetic Wire Market. However, the availability of alternate materials and high-cost stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Copper Magnetic Wire Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific dominated the market due to rapid industrialization and government initiatives to install alternative energy sources such as solar cells. The North American region is projected to grow with the highest CAGR during the forecast period due to a large number of manufacturing companies. The US is the largest market for copper magnet wires in the region..
In Sep 2019, superior Essex Inc. announced a collaboration with Furukawa Electric to expand its global footprint in the North American and Chinese markets.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable