Magnet Wire Market worth $36.8 billion by 2024 - PowerPoint PPT Presentation

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Magnet Wire Market worth $36.8 billion by 2024


Magnet Wire Market by Type (Copper, Aluminum), Shape (Round, Rectangle, Square), Application (Motor, Home Appliance, Transformer), End-Use Industry (Electrical & Electronics, Industrial, Transportation, Infrastructure), Region - Global Forecast to 2024 – PowerPoint PPT presentation

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Date added: 30 September 2019
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Provided by: ChemicalResearch
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Title: Magnet Wire Market worth $36.8 billion by 2024

Magnet Wire Market worth 36.8 billion by 2024
Browse 72 market data Tables 46 Figures 119
Pages and in-depth TOC on " Magnet Wire Market "
The magnet wire market size is projected to grow
from USD 30.1 billion in 2019 to USD 36.8 billion
by 2024, at a CAGR of 4.1 between 2019 and 2024.
The market is growing owing to the high demand
from end-use industries, such as transportation,
industrial, electrical electronics, and
infrastructure. APAC is the largest market for
magnet wire and is expected to remain the dame
during the forecast year.
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Electrical electronics is the largest consumer
of magnet wire.
Electrical electronics is the biggest end-use
industry of the magnet wire market. These wires
are used in the form of coil in various products
in the electrical electronics industry. For
instance, products such as fans, toys, trimmers,
inverters, air conditioners, and other consumer
electronics use magnet wire as a coil. The
increasing usage of household appliances is
accountable for the increased market size of
magnet wire in the electrical electronics
Copper magnet wire accounted for the major share
in the magnet wire market.
Copper is the more widely used type of magnet
wire. Copper magnet wire offers better
conductivity and possesses excellent tensile
strength. Additionally, it also offers superior
heat shock resistance, moisture resistance,
chemical resistance, and have lesser
cross-section area. This makes it suitable for
applications in the transportation and electrical
electronics industries.
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APAC is expected to lead the magnet wire market
during the forecast period.
APAC is the largest consumer of magnet wire. The
booming transportation and electrical
electronics industries are responsible for the
growth of the magnet wire market in the region.
China is one of the prominent consumers of magnet
wire in the region. The country has become the
single-largest consumer of magnet wire in the
wind energy industry and is expected to
strengthen its position further. APAC has a
presence of major magnet wire manufacturers such
as LS Cable System, Sumitomo Electric
Industries, Ltd., and Samdong Co., Ltd.
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The major players in the magnet wire market are,
  • 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.
  • Furukawa Electric Co., Ltd. (Japan)
  • Fujikura Ltd. (Japan).

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