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Global Automotive Magnet Wire Market – Industry Trends and Forecast to 2030

  • Automotive
  • Upcoming Report
  • Dec 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Automotive Magnet Wire Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 4753.08 Million
Diagram Market Size (Forecast Year) USD 6730.88 Million
Diagram CAGR %

Global Automotive Magnet Wire Market, By Type (Copper Wire, Aluminium Wire), Product Type (Enamelled Wire, Covered Conductor Wire), Material (Polyamide-Imide (PAI), Polyimides (PI), Polyetherimide (PEI), Polyether Ether Ketone (PEEK), Others), Shape (Round Magnet Wire, Rectangle Magnet Wire, Square Magnet Wire), Application (Motor, Starter Motor, Braking, Alternators, Stability Control, Windows, Door Lock, Seating, Others), Distribution Channel (B2B, Speciality Stores, E-Commerce, Supermarkets/Hypermarkets, Others), End User (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle) – Industry Trends and Forecast to 2030.

 

Automotive Magnet Wire Market Analysis and Size

The greater performance offered for the vehicle due to coating of the enamelled wire makes an automobile performance high by enhancing the malleability, temperature and resistivity is boosting the growth of the automotive magnet wire market. Rising prices of copper magnet wire are acting as a restraint for the growth of the automotive magnet wire market. Development in providing low permittivity magnet wire is further creating opportunity for the automotive magnet wire market. The cases cracking and bulging is posing challenges for the automotive magnet wire market.

Data Bridge Market Research analyzes that the global automotive magnet wire market which was USD 4,753.08 million in 2022, is likely to reach USD 6,730.88 million by 2030, and is expected to undergo a CAGR of 4.3% during the forecast period of 2023 to 2030. “Copper wire” segment holds the largest market share due to the increase in the preference of copper magnet wire by the motor manufacturers as it provides excellent chemical and mechanical properties along with heat resistant, better conductivity, energy efficiency and others. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable Years 2015-2020)

Quantitative Units

Revenue in USD Million, Pricing in USD

Segments Covered

Type (Copper Wire, Aluminium Wire), Product Type (Enamelled Wire, Covered Conductor Wire), Material (Polyamide-Imide (PAI), Polyimides (PI), Polyetherimide (PEI), Polyether Ether Ketone (PEEK), Others), Shape (Round Magnet Wire, Rectangle Magnet Wire, Square Magnet Wire), Application (Motor, Starter Motor, Braking, Alternators, Stability Control, Windows, Door Lock, Seating, Others), Distribution Channel (B2B, Speciality Stores, E-Commerce, Supermarkets/Hypermarkets, Others), End User (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

MWS Wire Industries, Inc. (U.S.), Rea (U.S.), Superior Essex Inc. (U.S.), Elektrisola Dr. Gerd Schildbach GmbH&Co. KG (Germany), Tongling Jingxun Special Enamelled Wire Co.,Ltd (China), Hitachi Metals, Ltd. (Japan), Sam Dong (South Korea), Sumitomo Electric Industries, Ltd. (Japan), Fujikura Ltd. (Japan), LWW Group (Sweden), Ederfil Becker (Spain), LS Cable & System Ltd. (South Korea), Device Technologies, Inc. (U.S.), Synflex Elektro GmbH (Germany), ACEBSA (Spain), Cividale spa (Italy), Craig Wire Products LLC (U.S.), Wenzhou JOGO Imp&Exp Co., Ltd. (China), Infantron Singapore (Singapore), TAYA GROUP (Taiwan)

Market Opportunities

  • Development in providing low permittivity magnet wire
  • Technological advancements

Market Definition

Magnet wire in automotive is a fundamental component of transforming the electrical energy in the motors, starters, ignition coil, power control system and other vehicle parts. Magnet wire comprises the following features: insulation uniformity, good electric properties such as dielectric strength with insulation resistance, resistance to mechanical stress, resistance to chemicals, solvents, thermal resistance and long thermal life.  

Global Automotive Magnet Wire Market Dynamics

Driver

  • Rising adoption of electric vehicle (EV)

The global automotive magnet wire market is experiencing a positive growth trend, thanks to the increasing demand for electric vehicles (EVs). Magnet wires are essential components of electric motors, which power the EVs. As more consumers opt for eco-friendly and energy-efficient transportation options, the need for magnet wires also rises. This report provides an overview of the current market scenario and the future prospects of the automotive magnet wire industry.

Opportunity

  • Technological advancements in automotive magnet wire

One of the key factors that contribute to the growth of this market is the technological advancements in automotive magnet wire, which enhance the performance, efficiency and durability of electric motors. Technological advancements in automotive magnet wire include the development of new materials, coatings, designs and manufacturing processes that improve the electrical conductivity, thermal stability, mechanical strength and corrosion resistance of the wire. These advancements also help to reduce the weight, size and cost of the wire, making it more suitable for various applications in the automotive industry. Technological advancements in automotive magnet wire act as an opportunity for global automotive magnet wire market, as they enable the market players to offer innovative and competitive products that meet the changing customer needs and preferences.

Restraint/Challenge

  • Rising prices of copper magnet wire

One of the factors that is limiting the expansion of the automotive magnet wire industry is the increasing cost of copper magnet wire. Copper is a key material for producing magnet wire, which is used in various applications such as electric motors, transformers and generators. However, the rising demand and limited supply of copper have led to higher prices in the global market, which affects the profitability and competitiveness of the automotive magnet wire manufacturers.

This cloud applications market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cloud applications market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • 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

Global Automotive Magnet Wire Market Scope

The automotive magnet wire market is segmented on the basis of the type, product type, material, shape, application, distribution channel and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Type

  • Copper Wire
  • Aluminium Wire

Product Type

  • Enamelled Wire
  • Covered Conductor Wire

Material

  • Polyamide-Imide (PAI)
  • Polyimides (PI)
  • Polyetherimide (PEI)
  • Polyether Ether Ketone (PEEK)
  • Others

Shape

  • Round Magnet Wire
  • Rectangle Magnet Wire
  • Square Magnet Wire

Application

  • Motor
  • Starter Motor
  • Braking
  • Alternators
  • Stability Control
  • Windows
  • Door Lock and Seating
  • Others

Distribution Channel

  • B2B
  • Speciality Stores
  • E-Commerce
  • Supermarkets/Hypermarkets
  • Others

End User

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  • Electric Vehicle

Global Automotive Magnet Wire Market Regional Analysis/Insights

Global automotive magnet wire market is analyzed and market size information is provided by the country, type, product type, material, shape, application, distribution channel and end user as referenced above.

The countries covered in the market report are the U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Turkey, Switzerland, rest of Europe, China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Thailand, Malaysia, Singapore, Philippines, rest of Asia-Pacific, Saudi Arabia, South Africa, Israel, U.A.E., Egypt, rest of Middle East and Africa, Brazil, Argentina and rest of South America.

Asia-Pacific is expected to dominate the global automotive magnet wire market due to the large population along with rising number of electric vehicle and its development for the enamelled wire segment across the region. Asia-Pacific is expected to show significant growth with the highest CAGR due to heavy investment by manufacturers for the enamelled wire segment.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Automotive Magnet Wire Market Share Analysis

The automotive magnet wire market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to global automotive magnet wire market.

Some of the major players operating in the automotive magnet wire market are:

  • MWS Wire Industries, Inc. (U.S.)
  • Rea (U.S.)
  • Superior Essex Inc. (U.S.)
  • Elektrisola Dr. Gerd Schildbach GmbH&Co. KG (Germany)
  • Tongling Jingxun Special Enamelled Wire Co.,Ltd (China)
  • Hitachi Metals, Ltd. (Japan)
  • Sam Dong (South Korea)
  • Sumitomo Electric Industries, Ltd. (Japan)
  • Fujikura Ltd. (Japan)
  • LWW Group (Sweden)
  • Ederfil Becker (Spain)
  • LS Cable & System Ltd. (South Korea)
  • Device Technologies, Inc. (U.S.)
  • Synflex Elektro GmbH (Germany)
  • ACEBSA (Spain)
  • Cividale spa (Italy)
  • Craig Wire Products LLC (U.S.)
  • Wenzhou JOGO Imp&Exp Co., Ltd. (China)
  • Infantron Singapore (Singapore)
  • TAYA GROUP (Taiwan)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Automotive Magnet Wire Market will be worth USD 6,730.88 million during the forecast period by 2030.
The Automotive Magnet Wire Market growth rate is 4.3% during the forecast period.
The Rising adoption of electric vehicle (EV) is the growth driver of the Automotive Magnet Wire Market.
The type, product type, material, shape, application, distribution channel, and end-user are the factors on which the Automotive Magnet Wire Market research is based.
Major companies in the Automotive Magnet Wire Market are MWS Wire Industries, Inc. (U.S.), Rea (U.S.), Superior Essex Inc. (U.S.), Elektrisola Dr. Gerd Schildbach GmbH&Co. KG (Germany), Tongling Jingxun Special Enamelled Wire Co.,Ltd (China), Hitachi Metals, Ltd. (Japan), Sam Dong (South Korea), Sumitomo Electric Industries, Ltd. (Japan), Fujikura Ltd. (Japan), LWW Group (Sweden), Ederfil Becker (Spain), LS Cable & System Ltd. (South Korea), Device Technologies, Inc. (U.S.), Synflex Elektro GmbH (Germany), ACEBSA (Spain), Cividale spa (Italy), Craig Wire Products LLC (U.S.), Wenzhou JOGO Imp&Exp Co., Ltd. (China), Infantron Singapore (Singapore), TAYA GROUP (Taiwan).
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