Sumitomo Electric Industries, Ltd., Tongling Jingxun Special Enamelled Wire Co., Ltd. and Superior Essex Inc. are Dominating in the Global Automotive Magnet Wire Market in 2020

Global Automotive Magnet Wire Market is expected to grow with the CAGR of 4.3% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below:

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Global automotive magnet wire market is a highly consolidated market which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global automotive magnet wire market are introducing various wires with enamelled coating that enhances the resistivity and malleability of the wire is driving the growth. This has helped the companies to enhance its sale with enhanced product portfolio. For instance, in March 2021, LS Cable & System Ltd. supplied magnet wire for Hyundai IONIQ 5 and Kia EV6 producing 800V high-voltage magnet wire (enamel wire) in Korea. The company enhanced its business portfolio through the magnet wire supply to other automobile companies enhancing its global outreach in the market.

Sumitomo Electric Industries, Ltd. is the dominating player in global automotive magnet wire market. The other key players existing in the automotive magnet wire market includes MWS Wire Industries, Inc., Rea, Superior Essex Inc., Elektrisola Dr. Gerd Schildbach GmbH&Co. KG, Tongling Jingxun Special Enamelled Wire Co.,Ltd, Hitachi Metals, Ltd., Sam Dong, Fujikura Ltd., LWW Group, Ederfil Becker, LS Cable & System Ltd., Device Technologies, Inc., Synflex Elektro GmbH, ACEBSA, Cividale spa, Craig Wire Products LLC, Wenzhou JOGO Imp&Exp Co., Ltd., Infantron Singapore, TAYA GROUP among others.

 Automotive Magnet Wire Market Sumitomo Electric Industries, Ltd.:

Sumitomo Electric Industries, Ltd. is headquartered in Osaka, Japan and was established in 1897. The company provides technology and innovation in the wiring system for the automobile industry. The company offers multiple business segments such as automotive business, information & communications business, electronics business, environment & energy business and industrial materials business among which automotive business is the market focused segment. The company offers wide range of products under categories such as raw materials, components, modules, end products and systems among which components is the market focused category.

For instance,

  • In February 2021, Sumitomo Electric Industries, Ltd. launched CHAdeMO-compatible*1 DC Quick-Charger/Discharger Connector Cable Assembly for electric vehicles (EVs). The new charger is capable of delivering safe and reliable electric vehicles. The company enhanced its business portfolio delivering more profit to the company.

The company has presence in the U.S., China and Japan. In addition to it, the company also generates its revenue from the various subsidiary companies such as Sumitomo Wiring Systems, Ltd. (Japan), Sumitomo Riko (Japan), Sumitomo Densetsu (Japan), Sumitomo Electric Hardmetal Corp. (Japan), SUMITOMO ELECTRIC DEVICE INNOVATIONS, INC. (Japan) among others.

Tongling Jingxun Special Enamelled Wire Co.,Ltd.:

Tongling Jingxun Special Enamelled Wire Co.,Ltd. is headquartered in Hefei, China which was founded in 2003. The company manufactures aluminium enamelled wire with polyesterimide and polyurethane aluminium wire. The company has various products which are corona resistant enamelled round, self-adhesive line aluminum, 240 grade polyester imide composite, 220 grade polyester (imide), with enamelled round aluminium, 200 grade polyester (imide), 180 grade polyester enamelled round, 155 grade polyester enamelled round, 180 grade polyurethane enamelled, 155 grade polyurethane enamelled, aluminum wire rod and aluminum wire rod 1 in which corona resistant enamelled round, self-adhesive line aluminum, 240 grade polyester imide composite, 220 grade polyester (imide), with enamelled round aluminium, 200 grade polyester (imide), 180 grade polyester enamelled round, 155 grade polyester enamelled round, 180 grade polyurethane enamelled and 155 grade polyurethane enamelled are the market focused products.

For instance,

  • In February 2017, Tongling Jingxun Special Enamelled Wire Co.,Ltd. conducted a workshop in the fourth phase of the factory for Jingxun Company started construction. The company enhanced its business portfolio, delivering more profit to the company.

The company has presence cross China.

Superior Essex Inc.:

Superior Essex Inc. is headquartered in Tokyo, Japan and was founded in 1896. The company is focused on manufacturing of magnet/winding wire for automotive industry. The company offers various products under categories such as automotive, energy, industrial, commercial and residential among which automotive is the market focused category.

For instance,

  • In February 2021, Superior Essex Inc. selected Sight Machine Inc. as the manufacturing productivity platform for its plants in the United States, China and Germany for the electric vehicle. The agreement extends the digital transformation of the wire plants enhancing the business growth for the company.

The company has presence in North America, Europe and Asia-Pacific.