The Asia Pacific Copper Magnetic Wire Market should witness market growth of 5.4% CAGR during the forecast period (2022-2028).
The coils of electronic equipment, including computers, phones, and televisions, use copper magneticwire. The electronic and telecommunications sector has expanded considerably in recent years. The growth in electronic equipment sales like cell phones and computers is mostly due to increased disposable income and rising internet usage. As a result, the copper magneticwire market is anticipated to expand significantly in the upcoming years.
Additionally,the electrical industry uses copper magnetic wire as conductors in transformers. In light of this, it is anticipated that sales of copper magnetic wire will increase due to the expansion of the power generation sector. Due to the expanding potential of electrical drives used in electric vehicle energy production and transmission, along with energy storage devices in off-grid and industrialpower distribution networks, the demand for copper magnetic wires is increasing in the energy andtransportation sectors.
In order to solve environmental issues, it has been required to cut back on environmental effects, including resource depletion and air pollution, as well as carbon dioxideemissions, to prevent global warming. The largest contributors to theseemissions are the energy conversion and industrial sectors, followed by the transportation and automotive sector. In order to address regulatory requirements, the number of electric vehicles (EVs), including hybrid EVs(HEVs), plug-in EVs(PHEVs), and battery EVs(BEVs), has been rapidly rising.
In the upcoming years, the demand for coppermagnet wires is anticipated to be significantly fueled by the end-use industries for magnetic wires, such as the infrastructure, transportation,and power sectors, which are expanding quickly in the region. Furthermore, in nations like India,China, andJapan, the automotive as well aselectrical & electronics industries have been expanding rapidly owing to the regional populations' increasing disposable incomes, bolstering their purchasing power. Additionally, the regional nations' government policies and regulations aimed at enhancing the nation's manufacturing sector are anticipated to positively influence themarket.
The China market dominated the Asia Pacific Copper Magnetic Wire Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,839.8 Million by 2028. The Japan market is estimated to grow a CAGR of 4.8% during (2022-2028). Additionally, The India market would experience a CAGR of 6.1% during (2022-2028).
Based on Industry, the market is segmented into Machinery, Automotive, Construction, Aerospace and Others. Based on Type, the market is segmented into Enameled and Covered. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., LS Cable & System Ltd., Schwering & Hass Elektrodraht GmbH (SYNFLeX Elektro GmbH), Proterial, Ltd (Hitachi, Ltd), SAM Dong Co., Ltd, Elektrisola Dr. Gerd Schildbach GmbH & Co. KG, Rea Magnet Wire Company Inc., IRCE S.p. A., Dahrén Group (Liljedahl Group AB) and Hpw Metallwerk GmbH.
The coils of electronic equipment, including computers, phones, and televisions, use copper magneticwire. The electronic and telecommunications sector has expanded considerably in recent years. The growth in electronic equipment sales like cell phones and computers is mostly due to increased disposable income and rising internet usage. As a result, the copper magneticwire market is anticipated to expand significantly in the upcoming years.
Additionally,the electrical industry uses copper magnetic wire as conductors in transformers. In light of this, it is anticipated that sales of copper magnetic wire will increase due to the expansion of the power generation sector. Due to the expanding potential of electrical drives used in electric vehicle energy production and transmission, along with energy storage devices in off-grid and industrialpower distribution networks, the demand for copper magnetic wires is increasing in the energy andtransportation sectors.
In order to solve environmental issues, it has been required to cut back on environmental effects, including resource depletion and air pollution, as well as carbon dioxideemissions, to prevent global warming. The largest contributors to theseemissions are the energy conversion and industrial sectors, followed by the transportation and automotive sector. In order to address regulatory requirements, the number of electric vehicles (EVs), including hybrid EVs(HEVs), plug-in EVs(PHEVs), and battery EVs(BEVs), has been rapidly rising.
In the upcoming years, the demand for coppermagnet wires is anticipated to be significantly fueled by the end-use industries for magnetic wires, such as the infrastructure, transportation,and power sectors, which are expanding quickly in the region. Furthermore, in nations like India,China, andJapan, the automotive as well aselectrical & electronics industries have been expanding rapidly owing to the regional populations' increasing disposable incomes, bolstering their purchasing power. Additionally, the regional nations' government policies and regulations aimed at enhancing the nation's manufacturing sector are anticipated to positively influence themarket.
The China market dominated the Asia Pacific Copper Magnetic Wire Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,839.8 Million by 2028. The Japan market is estimated to grow a CAGR of 4.8% during (2022-2028). Additionally, The India market would experience a CAGR of 6.1% during (2022-2028).
Based on Industry, the market is segmented into Machinery, Automotive, Construction, Aerospace and Others. Based on Type, the market is segmented into Enameled and Covered. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., LS Cable & System Ltd., Schwering & Hass Elektrodraht GmbH (SYNFLeX Elektro GmbH), Proterial, Ltd (Hitachi, Ltd), SAM Dong Co., Ltd, Elektrisola Dr. Gerd Schildbach GmbH & Co. KG, Rea Magnet Wire Company Inc., IRCE S.p. A., Dahrén Group (Liljedahl Group AB) and Hpw Metallwerk GmbH.
Scope of the Study
By Industry
- Machinery
- Automotive
- Construction
- Aerospace
- Others
By Type
- Enameled
- Covered
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Sumitomo Electric Industries, Ltd.
- LS Cable & System Ltd.
- Schwering & Hass Elektrodraht GmbH (SYNFLeX Elektro GmbH)
- Proterial, Ltd (Hitachi, Ltd)
- SAM Dong Co., Ltd
- Elektrisola Dr. Gerd Schildbach GmbH & Co. KG
- Rea Magnet Wire Company Inc.
- IRCE S.p. A.
- Dahrén Group (Liljedahl Group AB)
- Hpw Metallwerk GmbH
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Asia Pacific Copper Magnetic Wire Market by Industry
Chapter 4. Asia Pacific Copper Magnetic Wire Market by Type
Chapter 5. Asia Pacific Copper Magnetic Wire Market by Country
Chapter 6. Company Profiles
Companies Mentioned
- Sumitomo Electric Industries, Ltd.
- LS Cable & System Ltd.
- Schwering & Hass Elektrodraht GmbH (SYNFLeX Elektro GmbH)
- Proterial, Ltd (Hitachi, Ltd)
- SAM Dong Co., Ltd
- Elektrisola Dr. Gerd Schildbach GmbH & Co. KG
- Rea Magnet Wire Company Inc.
- IRCE S.p.A.
- Dahrén Group (Liljedahl Group AB)
- Hpw Metallwerk GmbH
Methodology
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