Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- The "Magnet Wire Market by Type, Shape, Application, End-Use Industry, Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
It is projected to register a CAGR of 4.1%, in terms of value, between 2019 and 2024, to reach a market size of USD 36,817.8 million by 2024.
Some of the drivers identified for the magnet wire market are growing market for electric vehicles and increase in demand from the power sector. The shift towards compact motors is affecting the magnet wire market. The demand for compact-sized motors entails the use of a coil which consumes less space. This reduces the consumption of magnet wire in a motor, which restricts the growth of the magnet wires market. The high demand from the APAC region is one of the major opportunities for the players in the market.
The magnet wire market is highly competitive owing to the presence of a large number of local and established players in the market. The market is fragmented and there is low product differentiation, which further increases the competitiveness in the market.
The magnet wire market is witnessing significant growth because of growing demand from various end-use industries such as electronics & electrical, transportation, industrial, and infrastructure.
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.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Growing Market of Electric Vehicles
5.1.1.2 High Demand From the Power Sector
5.1.2 Restraints
5.1.2.1 Shift Towards Compact Motors
5.1.3 Opportunities
5.1.3.1 Growing Demand From the APAC Region
5.1.4 Challenges
5.1.4.1 Cracking and Bulging of Insulation
5.2 Porter's Five Forces Analysis
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 the 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
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
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.
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