Image

Global Magnet Wire Market – Industry Trends and Forecast to 2030

Chemical and Materials

Image

Global Magnet Wire Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jan 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global 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 34.49 USD Billion
Diagram Market Size (Forecast Year) USD 52.94 USD Billion
Diagram CAGR %

Major Markets Players

  • Dummy1
  • Dummy2
  • Dummy3
  • Dummy4
  • Dummy5

Global Magnet Wire Market, By  Type (Copper, Aluminum, Others), Product Type (Enamelled Wire and Covered Conductor Wire), Material (Polyamide-Imide (PAI), Polyimides (PI), Polyetherimide (PEI) And Polyether Ether Ketone (PEEK), Others), Shape (Round Magnet Wire, Round Bondable Magnet Wire, Rectangle Magnet Wire, Square Magnet Wire), Application (Motor, Home Appliance, Transformer, Others), Distribution Channel (E-Commerce, Supermarkets/Hypermarkets, Specialty Stores, B2b/Third Party Distributors, Others), End-User (Electrical and Electronics, Industrial, Transportation, Energy, Automotive, Residential, Infrastructure, Others) – Industry Trends and Forecast to 2030.

Magnet Wire Market

Magnet Wire Market Analysis and Size

Magnet wire is basically used in numerous end-use industries, which is a substantial factor in the growth for the market globally. The heat resistance, uniformity and degree of insulation,  good electrical characteristics such as resistance to chemicals, varnishes, insulation resistance and dielectric strength and solvents, hydrolytic degradation and resistance to moisture and water are just a few of the major advantages that magnet wires can provide. Moreover, the demand for magnet wire applications will be driven by the rapid expansion of consumer electronics industry's during the forecast period.

Data Bridge Market Research analyses that the magnet wire market is expected to reach USD 52.94 billion by 2030, which is USD 34.49 billion in 2022, registering a CAGR of 5.50% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Magnet Wire Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 - 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Type (Copper, Aluminum, Others), Product Type (Enamelled Wire and Covered Conductor Wire), Material (Polyamide-Imide (PAI), Polyimides (PI), Polyetherimide (PEI) And Polyether Ether Ketone (PEEK), Others), Shape (Round Magnet Wire, Round Bondable Magnet Wire, Rectangle Magnet Wire, Square Magnet Wire), Application (Motor, Home Appliance, Transformer, Others), Distribution Channel (E-Commerce, Supermarkets/Hypermarkets, Specialty Stores, B2b/Third Party Distributors, Others), End-User (Electrical and Electronics, Industrial, Transportation, Energy, Automotive, Residential, Infrastructure, Others)

Countries Covered

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

Market Players Covered

 

Hitachi Metals Ltd. (Japan), Sumitomo Electric Industries, Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), Fujikura Ltd. (Japan), Sam Dong (South Korea), LS Cable & System Ltd. (South Korea), Tongling Jingda Special Magnet Wire Co., Ltd. (China), Ningbo Jintian Copper (Group) Co., Ltd. (China), IRCE S.p.A (Italy), Von Roll (Switzerland), and Ewwa (Sweden)

Market Opportunities

  • Numerous benefits associated with magnet wire
  • Increasing penetration toward renewable energy

Market Definition

Magnet wire is an aluminium (Al) or copper (Cu) wire which is coated with a very thin layer of insulation. It is used in the construction of transformers, hard disk head actuators, electromagnets, electric guitar pickups, inductors, motors, generators, speakers and other applications that need tight coils of insulated wire.

Magnet Wire Market Dynamics

Drivers

  • Growth and expansion of electric vehicles

The electric vehicles (EV) are highly contribute to a cleaner, safer and more energy-efficient environment. It is projected that demand for the hybrid and electric vehicles would surge considerably. The need for improved technology, more electric chargers and increasing affordability are the major causes of this surge in demand of magnet wire. The increase in electric vehicle sales is boosting the demand for the magnet wire. Magnet wire is necessary in different quantities for all types of electric cars. In addition to numerous other usages, these wires are used in charging infrastructure, electric motors and bus bars. According to a study by Copper Development Association Inc., the stator windings of a pure electric car can use approx. more than a mile of copper wiring. As a result of this, the increasing production of hybrid and electric vehicles ultimately drives the growth of the magnet wires market.

  • Surging usage of magnet wire in motors

Motors are widely used in several industries such as transportation, manufacturing and electronics. The motors have ability to convert electrical current into mechanical power. Furthermore, magnet wires are utilized as winding coils in the motors due to their better dielectric strength, thermal resistance and insulation resistance. Furthermore, these characteristics make them suitable for manufacturing motors for automobile applications comprising sunroof motors, wiper motors, door motors, ventilation motors, seat adjustment motors, solenoids and other automotive parts.

Opportunities

  • Numerous benefits associated with magnet wire

Magnet wires' benefits include heat resistance, uniformity & degree of insulation, good electrical characteristics such as resistance to chemicals, varnishes & solvents, resistance to moisture & water, insulation resistance and dielectric strength and hydrolytic degradation. A notable demand for high-end electric and electronic products for residential and industrial purposes will favor industry growth. Moreover, swift development of the consumer electronics sector will create numerous opportunities for magnet wire market over the forecast period.

  • Increasing penetration toward renewable energy

Growing penetration toward renewable energy among consumers and market players is expected to deliver lucrative opportunities for market growth. As per the analysis of Global Wind Energy Council (GWEC), the global cumulative wind capacity is anticipated to reach 731.9 GW by 2020, a rise of 22.5% from 2018.

Restraints/ Challenge

  • Numerous drawbacks associated with magnet wire

In order to wind more winds into the armatures of generators and motors, the magnet wires used for winding purposes that are constructed in a very thin strand. As a result of this, the magnet wires experience extreme tensional stress and temperature, which changes their physical features in particular regions. The insulation of magnet wires begins to fracture as a result. This can also happen when the resin used to lacquer the wires. The insulations may come from the swell and wire strand due to poor application. Furthermore, owing to short circuiting of wires inside motors, this causes damage to magnet wires, which disturbs their performance. Thus, the drawback of magnet wire will further challenge the market growth.

 This magnet wire 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 magnet wire market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

  • In 2021, Essex Furukawa presented Sight Machine Inc. as the manufacturing productivity platform for its plants in the U.S, China and Germany. Sight Machine's manufacturing productivity platform provides real results in sustainability, efficiency and quality.
  • In 2021, LS Cable and System is presently targeting to strengthen its presence in the global market for electric vehicle parts and components, with major focus on high-voltage and lightweight and aluminium wires. The cable manufacturing plant of LS Group accounts that the company is now exclusively supply magnet wires for Hyundai Motor’s.

 Global Magnet Wire Market Scope

The magnet wire market is segmented on the basis of type, product type, material shape, application, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Copper
  • Aluminium
  • Others

 Product Type

  • Enamelled Wire
  • Covered Conductor Wire

 Material

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

 Shape

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

Application

  • Motor
  • Home Appliance
  • Transformer
  • Others

 Distribution Channel

  • E-Commerce
  • Supermarkets/Hypermarkets
  • Specialty Stores
  • B2b/Third Party Distributors
  • Others

End-User

  • Electrical and Electronics
  • Industrial
  • Transportation
  • Energy
  • Automotive
  • Residential
  • Infrastructure
  • Others

 Magnet Wire Market Regional Analysis/Insights

The magnet wire market is analyzed and market size insights and trends are provided by country, type, product type, material shape, application, distribution channel and end-user as referenced above.

The countries covered in the magnet wire market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to dominate the magnet wire market in terms of revenue growth and market share. The market growth is attributed to the high demand for power transformers and growing usage of magnet wire in the medical sector within the region.

Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030 owing to the development of the electrical and electronics and automotive industries in Japan, China, and India. China is driving the growth of the Asia-Pacific magnet wire market owing to its cutting-edge and efficient production of electronics products by using these materials at the highest calibre.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream 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 their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Magnet Wire Market Share Analysis

The 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, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to magnet wire market.

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

  • Hitachi Metals Ltd. (Japan)
  • Sumitomo Electric Industries, Ltd. (Japan)
  • Furukawa Electric Co., Ltd. (Japan)
  • Fujikura Ltd. (Japan)
  • Sam Dong (South Korea)
  • LS Cable & System Ltd. (South Korea)
  • Tongling Jingda Special Magnet Wire Co., Ltd. (China)
  • Ningbo Jintian Copper (Group) Co., Ltd. (China)
  • IRCE S.p.A (Italy)
  • Von Roll (Switzerland)
  • Ewwa (Sweden)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

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.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

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.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Get online access to the report on the World's First Market Intelligence Cloud

  • Interactive Data Analysis Dashboard
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
  • Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Request for Demo

FREQUENTLY ASK QUESTIONS

The Magnet Wire Market will be worth USD 52.94 billion in the forecast period by 2030.
The Magnet Wire Market growth rate is 5.50% during the forecast period.
Surging usage of magnet wire in motors & Growth and expansion of electric vehicles are the growth drivers of the Magnet Wire Market.
The type, product type, material shape, application, distribution channel and end-user are the factors on which the Magnet Wire Market research is based.
Major companies in the Magnet Wire Market are Hitachi Metals Ltd. (Japan), Sumitomo Electric Industries, Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), Fujikura Ltd. (Japan), Sam Dong (South Korea), LS Cable & System Ltd. (South Korea), Tongling Jingda Special Magnet Wire Co., Ltd. (China), Ningbo Jintian Copper (Group) Co., Ltd. (China), IRCE S.p.A (Italy), Von Roll (Switzerland), and Ewwa (Sweden).
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials