Global Magnet Wire Market Outlook, Opportunities And Strategies – Including Magnet Wire Global Network
Learn about the global magnet wire market through The Business Research Company, which provides information on magnet wire market size, magnet wire market drivers and restraints, magnet wire market players, the COVID-19 impact on the magnet wire market, and more.
The global magnet wire market is expected to grow from $27.32 billion in 2021 to $29.33 billion in 2022 at a compound annual growth rate (CAGR) of 7.4%. The global magnet wire market is expected to reach $35.42 billion in 2026 at a CAGR of 4.8%.
The increase in the demand for electric vehicles is expected to propel the growth of the magnet wire market going forward.
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The magnet wire market consists of sales of magnet wires by entities (organizations, sole traders, and partnerships) that refer to copper or aluminum wire coated with a very thin layer of insulation. These are basically used in the construction of transformers, inductors, motors, speakers, hard disk head actuators, potentiometers, electromagnets, and other applications which require tight coils of wire. Magnet wire has good electrical characteristics such as dielectric strength and insulation resistance, as well as resistance to heat, water, and moisture.
Global Magnet Wire Market Segments Include:
By Type: Copper, Aluminum
By Shape: Round, Rectangle, Square
By Application: Motor, Home Appliance, Transformer, Other Applications
By End-User: Electrical And Electronics, Industrial, Transportation, Other End Users
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the magnet wire market in 2021.
The number of firms adopting strategic agreements or acquiring other companies to expand the market or develop new products has increased in the magnet wire market.
TBRC’s Magnet Wire Market Report Covers:
Major Market Players: Elektrisola, Essex Furukawa Magnet Wire LLC, Fujikura Ltd, Furukawa Electric Co. Ltd., Gold Cup Electric Electromagnetic Wire Co. Ltd., Hitachi, Hongyuan Group Co. Ltd., Roshow Technology, Jingda, Condumex, Aislantes, Alconex, LS Cable & System Ltd, Magnekon, and REA Magnet Wire.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Magnet Wire Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides magnet wire market overviews, analyzes and forecasts market size, share, magnet wire market players, magnet wire market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s magnet wire market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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