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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


Product Code : MNMMMM00106550
Survey : MarketsandMarkets
Publish On : 20, May, 2022
Category : Mining, Minerals and Metals
Study Area : Global
Report format : PDF
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[Report Description]

‘’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.

Research Coverage

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 INTRODUCTION 15
1.1 OBJECTIVES OF THE STUDY 15
1.2 MARKET DEFINITION 15
1.3 MARKET SCOPE 16
1.4 CURRENCY 17
1.5 UNIT CONSIDERED 17
1.6 LIMITATIONS 17
1.7 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key data from secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Key data from primary sources 20
2.1.2.2 Key industry insights 20
2.1.2.3 Breakdown of primary interviews 21
2.2 MARKET SIZE ESTIMATION 22
2.2.1 BOTTOM-UP APPROACH 22
2.2.2 TOP-DOWN APPROACH 23
2.3 DATA TRIANGULATION 24
2.4 RESEARCH ASSUMPTIONS 25
2.5 LIMITATIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHTS 30
4.1 ATTRACTIVE OPPORTUNITIES IN THE MAGNET WIRE MARKET 30
4.2 MAGNET WIRE MARKET, BY END-USE INDUSTRY 30
4.3 MAGNET WIRE MARKET, BY TYPE 31
4.4 MAGNET WIRE MARKET, BY COUNTRY 32
5 MARKET OVERVIEW 33
5.1 INTRODUCTION 33
5.1.1 DRIVERS 33
5.1.1.1 Growing market of electric vehicles 33
5.1.1.2 High demand from the power sector 34
5.1.2 RESTRAINTS 34
5.1.2.1 Shift towards compact motors 34
5.1.3 OPPORTUNITIES 34
5.1.3.1 Growing demand from the APAC region 34
5.1.4 CHALLENGES 35
5.1.4.1 Cracking and bulging of insulation 35
5.1.4.2 Non-uniformity in insulation 35
5.2 PORTER’S FIVE FORCES ANALYSIS 36
5.2.1 THREAT OF NEW ENTRANTS 37
5.2.2 THREAT OF SUBSTITUTES 37
5.2.3 BARGAINING POWER OF SUPPLIERS 37
5.2.4 BARGAINING POWER OF BUYERS 37
5.2.5 INTENSITY OF COMPETITIVE RIVALRY 37
6 MAGNET WIRE MARKET, BY TYPE 38
6.1 INTRODUCTION 39
6.2 COPPER 40
6.2.1 COPPER SEGMENT DOMINATES OVERALL MAGNET WIRE MARKET 40
6.3 ALUMINUM 41
6.3.1 THE MARKET FOR ALUMINUM MAGNET WIRE IS DRIVEN BY DEMAND IN TRANSFORMER APPLICATION 41
7 MAGNET WIRE MARKET, BY SHAPE 42
7.1 INTRODUCTION 43
7.2 ROUND MAGNET WIRE 44
7.2.1 ROUND MAGNET WIRE IS THE MOST-WIDELY USED MAGNET WIRE 44
7.3 RECTANGLE MAGNET WIRE 45
7.3.1 HIGH DEMAND IN TRANSFORMERS IS DRIVING THE MARKET FOR RECTANGULAR MAGNET WIRE 45
7.4 SQUARE MAGNET WIRE 46
7.4.1 DEMAND FOR COMPACT COILS IS RESPONSIBLE FOR THE GROWTH OF SQUARE MAGNET WIRE 46
8 MAGNET WIRE MARKET, BY APPLICATION 48
8.1 INTRODUCTION 49
8.2 MOTOR 50
8.2.1 AUTOMOTIVE INDUSTRY IS DRIVING THE DEMAND FOR MAGNET WIRE IN MOTOR APPLICATION 50
8.3 HOME APPLIANCE 51
8.3.1 APAC IS THE LARGEST MAGNET WIRE MARKET IN HOME APPLIANCE APPLICATION 51
8.4 TRANSFORMER 52
8.4.1 GROWTH OF POWER SECTOR IS DRIVING THE CONSUMPTION OF MAGNET WIRE IN TRANSFORMERS 52
8.5 OTHERS 53
9 MAGNET WIRE MARKET, BY END-USE INDUSTRY 55
9.1 INTRODUCTION 56
9.2 ELECTRICAL & ELECTRONICS 57
9.2.1 ELECTRICAL & ELECTRONICS IS THE MAJOR END-USE INDUSTRY OF MAGNET WIRE 57
9.3 INDUSTRIAL 59
9.3.1 INCREASING DEMAND FROM TRANSFORMERS WILL DRIVE THE MARKET IN THE INDUSTRIAL SECTOR 59
9.4 TRANSPORTATION 60
9.4.1 GROWING DEMAND FOR ELECTRIC VEHICLE IS DRIVING THE CONSUMPTION OF MAGNET WIRE IN TRANSPORTATION INDUSTRY 60
9.5 INFRASTRUCTURE 61
9.5.1 APAC IS THE BIGGEST CONSUMER OF MAGNET WIRE IN THE INFRASTRUCTURE INDUSTRY 61
9.6 OTHERS 62
10 MAGNET WIRE MARKET, BY REGION 63
10.1 INTRODUCTION 64
10.2 NORTH AMERICA 66
10.2.1 US 68
10.2.1.1 High demand from motor application is driving the market in the US 68
10.2.2 CANADA 68
10.2.2.1 Electrical & electronics industry is boosting the demand in Canada 68
10.3 EUROPE 69
10.3.1 GERMANY 72
10.3.1.1 Germany is the leading consumer of magnet wire in Europe 72
10.3.2 UK 72
10.3.2.1 Growing demand for magnet wire from electric vehicles 72
10.3.3 FRANCE 72
10.3.3.1 Transportation industry is driving the market in France 72
10.3.4 ITALY 72
10.3.4.1 Transportation is one of the major end-use industries of magnet wire in Italy 72
10.3.5 REST OF EUROPE 72
10.4 APAC 73
10.4.1 CHINA 76
10.4.1.1 China is the largest consumer of magnet wire 76
10.4.2 JAPAN 76
10.4.2.1 Presence of major magnet wire manufacturers in the country contributes to market growth 76
10.4.3 SOUTH KOREA 76
10.4.3.1 Consumption of magnet wire in electrical & electronics industry is increasing in the country 76
10.4.4 INDIA 76
10.4.4.1 Demand for copper magnet wire is growing from motor and transformer applications 76
10.4.5 REST OF APAC 76
10.5 LATIN AMERICA 77
10.5.1 MEXICO 79
10.5.1.1 Mexico is the largest market in Latin America 79
10.5.2 BRAZIL 79
10.5.2.1 Growing consumption from transportation industry is driving the demand for magnet wire in Brazil 79
10.5.3 ARGENTINA 79
10.5.3.1 High demand for magnet wire witnessed from the electrical & electronics industry 79
10.5.4 REST OF LATIN AMERICA 79
10.6 MEA 80
10.6.1 SAUDI ARABIA 82
10.6.1.1 Saudi Arabia is the largest market in the MEA 82
10.6.2 UAE 82
10.6.2.1 Increasing demand from industrial application is driving the market in the UAE 82
10.6.3 REST OF MEA 82
11 COMPETITIVE LANDSCAPE 83
11.1 INTRODUCTION 83
11.2 COMPETITIVE LEADERSHIP MAPPING 84
11.2.1 DYNAMIC DIFFERENTIATORS 84
11.2.2 INNOVATORS 84
11.2.3 VISIONARY LEADERS 84
11.2.4 EMERGING COMPANIES 85
11.3 COMPETITIVE BENCHMARKING 86
11.3.1 PRODUCT OFFERING 86
11.3.2 BUSINESS STRATEGY 87
11.4 MARKET RANKING 88
11.5 COMPETITIVE SCENARIO 89
11.5.1 NEW PRODUCT LAUNCHES 89
11.5.2 EXPANSIONS & INVESTMENTS 89
11.5.3 MERGERS & ACQUISITIONS 90

12 COMPANY PROFILES 91
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
12.1 LS CABLE & SYSTEM LTD. 91
12.2 REA MAGNET WIRE 94
12.3 IRCE S.P.A. 96
12.4 ELEKTRISOLA 98
12.5 TONGLING JINGDA SPECIAL MAGNET WIRE CO., LTD. 100
12.6 FURUKAWA ELECTRIC CO., LTD. 102
12.7 SAMDONG CO., LTD. 105
12.8 SUMITOMO ELECTRIC INDUSTRIES, LTD. 107
12.9 FUJIKURA LTD. 109
12.10 LWW GROUP 111
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
12.11 OTHER KEY PLAYERS 112
12.11.1 HITACHI METALS, LTD. 112
12.11.2 MAGNEKON 112
12.11.3 VON ROLL HOLDING AG 112
12.11.4 CONDUMEX INC. 112
12.11.5 PRECISION WIRES INDIA LIMITED 112
12.11.6 ROSHOW TECHNOLOGY CO., LTD. 112
12.11.7 EDERFIL-BECKER 113
12.11.8 SCHWERING & HASSE ELEKTRODRAHT GMBH 113
12.11.9 AISLANTES, CONDUCTORES ESMALTADOS Y BARNICES S.A 113
12.11.10 ZML INDUSTRIES S.P.A. 113
13 APPENDIX 114
13.1 DISCUSSION GUIDE 114
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 116
13.3 AVAILABLE CUSTOMIZATIONS 118
13.4 RELATED REPORTS 118
13.5 AUTHOR DETAILS 119

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