Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Copper Magnet Wire Market Outlook

The global copper magnet wire market is expected to grow at a CAGR of 5.3% in the forecast period of 2024-2032.

Global Copper Magnet Wire Market

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Thriving Electrical and Electronics Industry to Bolster the Market Growth of Copper Magnet Wire

The market growth of copper magnet wire is being driven by the growing use of copper magnet wire in the electrical and electronics industry, comprising motors, transformers, pump sets, switchgear, and domestic appliances, among others. In addition, the numerous advantages of copper magnet wire, such as dielectric strength, resistance to insulation, heat, moisture, stretching, bending, and hydrolytic degradation, is leading to its expanding utilisation in the electrical and electronics industry.

Moreover, the rising inclination towards electric vehicles is also resulting in the steady growth of the industry as copper magnet wires as these wires are used in the motors and charging units of the vehicle. Also, the rapid industrialisation and the expanding need for energy-efficient transformers are propelling the market expansion of copper magnet wire. Further, the increasing adoption of electronics such as cell phones and computers and the use of copper magnet wire in the coils of these electronics is augmenting the market.

The Asia Pacific to Account for a Substantial Share in the Market for Copper Magnet Wire

The rising demand for power in the Asia Pacific region owing to rapid industrialisation is leading to the expanding utilisation of copper magnet wire, thereby invigorating the market growth. In addition, the government initiatives in installing alternative energy sources such as solar cells to reduce the use of fossils and curb carbon emissions are propelling the market growth. Further, the increasing number of manufacturing units of copper magnet wire is contributing to the rapid growth of the market in the Asia Pacific region.

Copper Magnet Wire: Market Segmentation

The copper magnet wire refers to the magnet wire that is composed of fully annealed, electrolytically refined copper and is coated with thin insulation, usually made of rigid polymer film materials. The magnet wire is an electrical conductor because it creates an electrical field when wound into a coil and energised.

Global Copper Magnet Wire Market by Segments

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The copper magnet wire industry, by packaging type, is divided into:

  • Box Packaging
  • Spool Packaging
  • Large Pallet Packaging

Based on wire size, the market is segmented into:

  • Up to 20 AWG
  • 20 AWG to 30 AWG
  • 30 AWG to 50 AWG

On the basis of end use, the market is classified into:

  • Automotive and Transportation Industry
  • Electrical and Electronics Industry
  • Power and Energy Industry
  • Others

The regional markets for copper magnet wire can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Copper Magnet Wire Market by Region

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Growing Adoption of Renewable Energy Systems to Drive the Market Growth of the Copper Magnet Wire

The transition to renewable energy systems from the conventional power generation methods is significantly catalysing the market growth of copper magnet wire. In addition, the exceptional characteristics of copper as an excellent thermal and electrical conductor, and the emerging need to generate power with minimum environmental effects are playing a critical role in the market expansion of copper magnet wire. Also, the rising installation of solar photovoltaic cells and wind energy technologies by commercial, industrial, and utility sectors for clean, efficient power to meet the increasing energy demands is providing impetus to the market growth of copper magnet wire.

Moreover, the government initiatives in setting up alternative energy sources such as solar PV cells to facilitate national energy security and sustainability are resulting in the market development of copper magnet wire. Further, the development of non-destructive methods of testing defects of copper wires, such as high voltage DC testing, to ensure the quality of the product is expected to augment the market for copper magnet in the forecast period.

Key Industry Players in the Global Copper Magnet Wire Market

The report gives a detailed analysis of the following key players in the global copper magnet wire market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Remington Industries
  • Hitachi Metals, Ltd.
  • The S&W Wire Company
  • Brocott UK
  • Metrod Group
  • EIS Legacy, LLC
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Packaging Type
  • Wire Size
  • End Use
  • Region
Breakup by Packaging Type
  • Box Packaging
  • Spool Packaging
  • Large Pallet Packaging
Breakup by Wire Size
  • Up to 20 AWG
  • 20 AWG to 30 AWG
  • 30 AWG to 50 AWG
Breakup by End Use
  • Automotive and Transportation Industry
  • Electrical and Electronics Industry
  • Power and Energy Industry
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Remington Industries
  • Hitachi Metals, Ltd.
  • The S&W Wire Company
  • Brocott UK
  • Metrod Group
  • EIS Legacy, LLC
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The global copper magnet wire market is estimated to grow at a CAGR of 5.3% between 2024 and 2032.

The major industry drivers are growing use of copper magnet wire in the expanding electrical and electronics industry, exceptional characteristics of copper magnet wire, increasing number of copper wire manufacturing units, and the development of non-destructive methods of testing defects of copper wires.

The key industry trends guiding the growth of the market include the increasing demand for energy, rising inclination towards electric vehicles, and the government initiatives in installing alternative energy sources.

The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The different market divisions, based on packaging type, include box packaging, spool packaging, and large pallet packaging.

The significant market divisions, based on wire size, include up to 20 AWG, 20 AWG to 30 AWG, and 30 AWG to 50 AWG.

The major end uses of the market are automotive and transportation industry, electrical and electronics industry, and power and energy industry, among others.

The major players in the industry are Remington Industries, Hitachi Metals, Ltd., The S&W Wire Company, Brocott UK, Metrod Group, and EIS Legacy, LLC, among others.

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