High Demand From the Power Sector & Growing Market of Electric Vehicles Drives The Growth of Magnet Wire Market

High Demand From the Power Sector & Growing Market of Electric Vehicles Drives The Growth of Magnet Wire Market

“Browse 72 market data Tables and 46 Figures spread through 119 Pages and in-depth TOC on “Magnet Wire Market””
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

The magnet wire market size is expected to grow from USD 30.1 billion in 2019 to USD 36.8 billion by 2024, at a CAGR of 4.1%. 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.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=61725229

The electrical & electronics end-use segment accounted for the largest share of the magnet wire market in 2019.  

Electrical & electronics industry is the largest consumer of magnet wire. Magnet wires are used in the form of coil in products, such as fans, trimmers, toys, inverters, air conditioners, and other consumer electronics in the electrical & electronics industry. The increasing usage of household appliances across various regions is augmenting the demand for magnet wire in the electrical & electronics industry.

Motor is the biggest application of magnet wire.

Motor is the biggest application of magnet wire. The demand for magnet wire in motor application is driven by the growing consumption in the transportation industry. The consumption of magnet wire in motor application is witnessing high growth in the automotive sector. Growing penetration of electric vehicles across the globe is the key driver for the growing consumption of magnet wire in the automotive industry.

Browse and in-depth TOC on “Magnet Wire Market”

72 – Tables
46 – Figures
119 – Pages

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

APAC is the largest magnet wire market and is expected to remain the same during the forecast period. China, India, and Japan are the major economies that contribute to the growth of the market in the region. The growing transportation and electrical & electronics industries is bolstering the market for magnet wire in the region.

The major players in the magnet wire market include 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).

Get This Report: https://www.marketsandmarkets.com/Market-Reports/magnet-wire-market-61725229.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/magnet-wire-market-61725229.html