Product Code: MM 6971
"The magnet wire market is projected to register a CAGR of 4.1%, in terms of value, between 2019 and 2024"
The magnet wire market size is estimated at USD 30.1 billion in 2019 and is projected to reach USD 36.8 billion by 2024, at a CAGR of 4.1% between 2019 and 2024. Magnet wires are used in different industries such as electrical & electronics, industrial, transportation, infrastructure, and others. Continuous demand from the electrical & electronics and transportation industries plays a major role in the growing consumption of magnet wire.
"Copper magnet wire is estimated to dominate the overall market"
Copper magnet wire is more widely used in electrical motor, generator, reactor, and other applications. They have excellent heat shock resistance, excellent conductivity, high dielectric strength, and moisture resistance. Aluminum magnet wire is expected to grow at a higher rate during the forecasted period. Aluminum magnet wires are lightweight and inexpensive in nature. Hence, their demand is increasing in the transformer application.
"Magnet wire market is expected to witness the highest growth in electrical & electronics between 2019 and 2024"
The electrical & electronics industry is projected to be the fastest-growing end-use industry of magnet wire during the forecast period, in terms of both value and volume. Magnet wire is widely used in consumer electronics and electrical products. The increasing usage of electronic products in APAC, Europe, and North America is bolstering the usage of magnet wire in the electrical & electronics industry.
"The magnet market in APAC is projected to register the highest CAGR"
The magnet wire market in APAC is projected to register the highest CAGR during the forecast period. High demand from countries such as China, Japan, and India is driving the demand in the APAC region. There is increasing demand for magnet wire from transportation and electrical & electronics industries in the region. China is the largest consumer of magnet wires and is expected to maintain its position in the coming years.
Breakdown of profiles of primary interviews:
- By Company: Tier 1 - 37%, Tier 2 - 42%, and Tier 3 - 21%
- By Designation: C level - 30%, Director level - 25%, and Others - 45%
- By Region: APAC - 40%, Europe - 27%, North America - 20%, Middle East & Africa - 7%, and Latin America - 6%
The magnet wire market comprises major manufacturers such as LS Cable & System (South Korea), Elektrisola (Germany), REA Magnet Wire (US), Sumitomo Electric Industries, Ltd. (Japan), Samdong Co., Ltd. (South Korea), LWW Group (Sweden), IRCE S.p.A. (Italy), Tongling Jingda Special Magnet Wire Co., Ltd. (China), Furukawa Electric Co., Ltd. (Japan), and Fujikura Ltd. (Japan). The study includes an in-depth competitive analysis of these key players in the market, with their company profiles, recent developments, and key market strategies.
This study on the magnet wire market aims at estimating the market size and the growth potential of this market across different segments. Porter's Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities influencing the growth of the magnet wire market, have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Key Benefits of Buying the Report:
The report will help the market players with information on the closest approximations of the revenue numbers of the overall magnet wire market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
- 1.1. OBJECTIVES OF THE STUDY
- 1.2. MARKET DEFINITION
- 1.3. MARKET SCOPE
- 1.4. CURRENCY
- 1.5. UNIT CONSIDERED
- 1.6. LIMITATIONS
- 1.7. STAKEHOLDERS
2. RESEARCH METHODOLOGY
- 2.1. RESEARCH DATA
- 2.1.1. SECONDARY DATA
- 18.104.22.168. Key data from secondary sources
- 2.1.2. PRIMARY DATA
- 22.214.171.124. Key data from primary sources
- 126.96.36.199. Key industry insights
- 188.8.131.52. Breakdown of primary interviews
- 2.2. MARKET SIZE ESTIMATION
- 2.2.1. BOTTOM-UP APPROACH
- 2.2.2. TOP-DOWN APPROACH
- 2.3. DATA TRIANGULATION
- 2.4. RESEARCH ASSUMPTIONS
- 2.5. LIMITATIONS
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
- 4.1. ATTRACTIVE OPPORTUNITIES IN THE MAGNET WIRE MARKET
- 4.2. MAGNET WIRE MARKET, BY END-USE INDUSTRY
- 4.3. MAGNET WIRE MARKET, BY TYPE
- 4.4. MAGNET WIRE MARKET, BY COUNTRY
5. MARKET OVERVIEW
- 5.1. INTRODUCTION
- 5.1.1. DRIVERS
- 184.108.40.206. Growing market of electric vehicles
- 220.127.116.11. High demand from the power sector
- 5.1.2. RESTRAINTS
- 18.104.22.168. Shift towards compact motors
- 5.1.3. OPPORTUNITIES
- 22.214.171.124. Growing demand from the APAC region
- 5.1.4. CHALLENGES
- 126.96.36.199. Cracking and bulging of insulation
- 188.8.131.52. Non-uniformity in insulation
- 5.2. PORTER'S FIVE FORCES ANALYSIS
- 5.2.1. THREAT OF NEW ENTRANTS
- 5.2.2. THREAT OF SUBSTITUTES
- 5.2.3. BARGAINING POWER OF SUPPLIERS
- 5.2.4. BARGAINING POWER OF BUYERS
- 5.2.5. INTENSITY OF COMPETITIVE RIVALRY
6. MAGNET WIRE MARKET, BY TYPE
- 6.1. INTRODUCTION
- 6.2. COPPER
- 6.2.1. COPPER SEGMENT DOMINATES OVERALL MAGNET WIRE MARKET
- 6.3. ALUMINUM
- 6.3.1. THE MARKET FOR ALUMINUM MAGNET WIRE IS DRIVEN BY DEMAND IN TRANSFORMER APPLICATION
7. MAGNET WIRE MARKET, BY SHAPE
- 7.1. INTRODUCTION
- 7.2. ROUND MAGNET WIRE
- 7.2.1. ROUND MAGNET WIRE IS THE MOST-WIDELY USED MAGNET WIRE
- 7.3. RECTANGLE MAGNET WIRE
- 7.3.1. HIGH DEMAND IN TRANSFORMERS IS DRIVING THE MARKET FOR RECTANGULAR MAGNET WIRE
- 7.4. SQUARE MAGNET WIRE
- 7.4.1. DEMAND FOR COMPACT COILS IS RESPONSIBLE FOR THE GROWTH OF SQUARE MAGNET WIRE
8. MAGNET WIRE MARKET, BY APPLICATION
- 8.1. INTRODUCTION
- 8.2. MOTOR
- 8.2.1. AUTOMOTIVE INDUSTRY IS DRIVING THE DEMAND FOR MAGNET WIRE IN MOTOR APPLICATION
- 8.3. HOME APPLIANCE
- 8.3.1. APAC IS THE LARGEST MAGNET WIRE MARKET IN HOME APPLIANCE APPLICATION
- 8.4. TRANSFORMER
- 8.4.1. GROWTH OF POWER SECTOR IS DRIVING THE CONSUMPTION OF MAGNET WIRE IN TRANSFORMERS
- 8.5. OTHERS
9. MAGNET WIRE MARKET, BY END-USE INDUSTRY
- 9.1. INTRODUCTION
- 9.2. ELECTRICAL & ELECTRONICS
- 9.2.1. ELECTRICAL & ELECTRONICS IS THE MAJOR END-USE INDUSTRY OF MAGNET WIRE
- 9.3. INDUSTRIAL
- 9.3.1. INCREASING DEMAND FROM TRANSFORMERS WILL DRIVE THE MARKET IN THE INDUSTRIAL SECTOR
- 9.4. TRANSPORTATION
- 9.4.1. GROWING DEMAND FOR ELECTRIC VEHICLE IS DRIVING THE CONSUMPTION OF MAGNET WIRE IN TRANSPORTATION INDUSTRY
- 9.5. INFRASTRUCTURE
- 9.5.1. APAC IS THE BIGGEST CONSUMER OF MAGNET WIRE IN THE INFRASTRUCTURE INDUSTRY
- 9.6. OTHERS
10. MAGNET WIRE MARKET, BY REGION
- 10.1. INTRODUCTION
- 10.2. NORTH AMERICA
- 10.2.1. US
- 10.2.1.1. High demand from motor application is driving the market in the US
- 10.2.2. CANADA
- 10.2.2.1. Electrical & electronics industry is boosting the demand in Canada
- 10.3. EUROPE
- 10.3.1. GERMANY
- 10.3.1.1. Germany is the leading consumer of magnet wire in Europe
- 10.3.2. UK
- 10.3.2.1. Growing demand for magnet wire from electric vehicles
- 10.3.3. FRANCE
- 10.3.3.1. Transportation industry is driving the market in France
- 10.3.4. ITALY
- 10.3.4.1. Transportation is one of the major end-use industries of magnet wire in Italy
- 10.3.5. REST OF EUROPE
- 10.4. APAC
- 10.4.1. CHINA
- 10.4.1.1. China is the largest consumer of magnet wire
- 10.4.2. JAPAN
- 10.4.2.1. Presence of major magnet wire manufacturers in the country contributes to market growth
- 10.4.3. SOUTH KOREA
- 10.4.3.1. Consumption of magnet wire in electrical & electronics industry is increasing in the country
- 10.4.4. INDIA
- 10.4.4.1. Demand for copper magnet wire is growing from motor and transformer applications
- 10.4.5. REST OF APAC
- 10.5. LATIN AMERICA
- 10.5.1. MEXICO
- 10.5.1.1. Mexico is the largest market in Latin America
- 10.5.2. BRAZIL
- 10.5.2.1. Growing consumption from transportation industry is driving the demand for magnet wire in Brazil
- 10.5.3. ARGENTINA
- 10.5.3.1. High demand for magnet wire witnessed from the electrical & electronics industry
- 10.5.4. REST OF LATIN AMERICA
- 10.6. MEA
- 10.6.1. SAUDI ARABIA
- 10.6.1.1. Saudi Arabia is the largest market in the MEA
- 10.6.2. UAE
- 10.6.2.1. Increasing demand from industrial application is driving the market in the UAE
- 10.6.3. REST OF MEA
11. COMPETITIVE LANDSCAPE
- 11.1. INTRODUCTION
- 11.2. COMPETITIVE LEADERSHIP MAPPING
- 11.2.1. DYNAMIC DIFFERENTIATORS
- 11.2.2. INNOVATORS
- 11.2.3. VISIONARY LEADERS
- 11.2.4. EMERGING COMPANIES
- 11.3. COMPETITIVE BENCHMARKING
- 11.3.1. PRODUCT OFFERING
- 11.3.2. BUSINESS STRATEGY
- 11.4. MARKET RANKING
- 11.5. COMPETITIVE SCENARIO
- 11.5.1. NEW PRODUCT LAUNCHES
- 11.5.2. EXPANSIONS & INVESTMENTS
- 11.5.3. MERGERS & ACQUISITIONS
12. COMPANY PROFILES (Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
- 12.1. LS CABLE & SYSTEM LTD.
- 12.2. REA MAGNET WIRE
- 12.3. IRCE S.P.A.
- 12.4. ELEKTRISOLA
- 12.5. TONGLING JINGDA SPECIAL MAGNET WIRE CO., LTD.
- 12.6. FURUKAWA ELECTRIC CO., LTD.
- 12.7. SAMDONG CO., LTD.
- 12.8. SUMITOMO ELECTRIC INDUSTRIES, LTD.
- 12.9. FUJIKURA LTD.
- 12.10. LWW GROUP
- 12.11. OTHER KEY PLAYERS
- 12.11.1. HITACHI METALS, LTD.
- 12.11.2. MAGNEKON
- 12.11.3. VON ROLL HOLDING AG
- 12.11.4. CONDUMEX INC.
- 12.11.5. PRECISION WIRES INDIA LIMITED
- 12.11.6. ROSHOW TECHNOLOGY CO., LTD.
- 12.11.7. EDERFIL-BECKER
- 12.11.8. SCHWERING & HASSE ELEKTRODRAHT GMBH
- 12.11.9. AISLANTES, CONDUCTORES ESMALTADOS Y BARNICES S.A
- 12.11.10. ZML INDUSTRIES S.P.A.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
- 13.1. DISCUSSION GUIDE
- 13.2. KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 13.3. AVAILABLE CUSTOMIZATIONS
- 13.4. RELATED REPORTS
- 13.5. AUTHOR DETAILS