Global $36.8Bn Magnet Wire Market by Type, Shape, Application, End-Use Industry, and Region - Forecast to 2024 -

The "Magnet Wire Market by Type, Shape, Application, End-Use Industry, Region - Global Forecast to 2024" report has been added to's offering.

The magnet wire market size is estimated at USD 30.1 billion in 2019 and is projected to reach USD 36.8 billion by 2024, at a CAGR of 4.1% between 2019 and 2024.

Magnet wires are used in different industries such as electrical & electronics, industrial, transportation, infrastructure, and others. Continuous demand from the electrical & electronics and transportation industries plays a major role in the growing consumption of magnet wire.

The magnet wire market comprises major manufacturers such as 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).

The study includes an in-depth competitive analysis of these key players in the market, with their company profiles, recent developments, and key market strategies.

Copper magnet wire is estimated to dominate the overall market

Copper magnet wire is more widely used in electrical motors, generators, reactors, and other applications. They have excellent heat shock resistance, excellent conductivity, high dielectric strength, and moisture resistance.

Aluminum magnet wire is expected to grow at a higher rate during the forecasted period. Aluminum magnet wires are lightweight and inexpensive in nature. Hence, their demand is increasing in the transformer application.

Magnet wire market is expected to witness the highest growth in electrical & electronics between 2019 and 2024

The electrical & electronics industry is projected to be the fastest-growing end-use industry of magnet wire during the forecast period, in terms of both value and volume. Magnet wire is widely used in consumer electronics and electrical products.

The increasing usage of electronic products in APAC, Europe, and North America is bolstering the usage of magnet wire in the electrical & electronics industry.

The magnet market in APAC is projected to register the highest CAGR

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.

Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Market Scope

1.4 Currency

1.5 Unit Considered

1.6 Limitations

1.7 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Data Triangulation

2.4 Research Assumptions

2.5 Limitations

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Magnet Wire Market

4.2 Magnet Wire Market, By End-Use Industry

4.3 Magnet Wire Market, By Type

4.4 Magnet Wire Market, By Country

5 Market Overview

5.1 Introduction

5.1.1 Drivers Growing Market of Electric Vehicles High Demand From the Power Sector

5.1.2 Restraints Shift Towards Compact Motors

5.1.3 Opportunities Growing Demand From the APAC Region

5.1.4 Challenges 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

10.1 Introduction

10.2 North America

10.2.1 US High Demand From Motor Application is Driving the Market in the US

10.2.2 Canada Electrical & Electronics Industry is Boosting the Demand in Canada

10.3 Europe

10.3.1 Germany Germany is the Leading Consumer of Magnet Wire in Europe

10.3.2 UK Growing Demand for Magnet Wire From Electric Vehicles

10.3.3 France Transportation Industry is Driving the Market in France

10.3.4 Italy Transportation is One of the Major End-Use Industries of Magnet Wire in Italy

10.3.5 Rest of Europe

10.4 APAC

10.4.1 China China is the Largest Consumer of Magnet Wire

10.4.2 Japan Presence of Major Magnet Wire Manufacturers in the Country Contributes to Market Growth

10.4.3 South Korea Consumption of Magnet Wire in Electrical & Electronics Industry is Increasing in the Country

10.4.4 India Demand for Copper Magnet Wire is Growing From Motor and Transformer Applications

10.4.5 Rest of APAC

10.5 Latin America

10.5.1 Mexico Mexico is the Largest Market in Latin America

10.5.2 Brazil Growing Consumption From Transportation Industry is Driving the Demand for Magnet Wire in Brazil

10.5.3 Argentina High Demand for Magnet Wire Witnessed From the Electrical & Electronics Industry

10.5.4 Rest of Latin America

10.6 MEA

10.6.1 Saudi Arabia Saudi Arabia is the Largest Market in the MEA

10.6.2 UAE Increasing Demand From Industrial Application is Driving the Market in the UAE

10.6.3 Rest of MEA

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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