Magnet Wire Market Report 2022: Market Size, Trends, And Forecast To 2026

The Business Research Company’s Magnet Wire Global Market Report 2022: Market Size, Trends, And Forecast To 2026

LONDON, GREATER LONDON, UNITED KINGDOM, May 18, 2022 /EINPresswire.com/ -- According to ‘Magnet Wire Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the global magnet wire market share is expected to reach $35.42 billion in 2026 at a CAGR of 4.8%. TBRC’s magnet wire market research shows that the increase in the demand for electric vehicles is expected to propel the growth of the market going forward.

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The magnet wire market consists of sales of magnet wires by entities (organizations, sole traders, and partnerships) that refer to copper or aluminum wire coated with a very thin layer of insulation. These are basically used in the construction of transformers, inductors, motors, speakers, hard disk head actuators, potentiometers, electromagnets, and other applications which require tight coils of wire. Magnet wire has good electrical characteristics such as dielectric strength and insulation resistance, as well as resistance to heat, water, and moisture.

Global Magnet Wire Market Trends

The number of firms adopting strategic agreements or acquiring other companies to expand the market or develop new products has increased, shaping the magnet wire market outlook. For instance, in November 2021, Elcowire, a Sweden-based magnet wires manufacturer, acquired the wire and rod business from KME Group, a Germany-based company that manufactures aluminum conductors, rectangular wires, and profiles for electrical purposes, for $670 million. Elcowire's acquisition of KME's Rod and Wire business will enhance the company by giving it access to a broader customer base and product portfolio, as well as expanding its geographic reach. Also, in February 2019, Rea Magnet Wire Company, a US-based magnet wire, and nonferrous metals manufacturer, collaborated with Xignux, a Mexican company that manufactures copper and aluminum cable through its subsidiary Magnekom. Following the merger, both companies' assets, as well as operational and supply chain synergies, including an enamel manufacturing factory, will be combined.

Global Magnet Wire Market Segments

The global magnet wire market is segmented:
By Type: Copper, Aluminum
By Shape: Round, Rectangle, Square
By Application: Motor, Home Appliance, Transformer, Other Applications
By End-User: Electrical And Electronics, Industrial, Transportation, Other End Users
By Geography: The global magnet wire market research report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific accounts for the largest share.

Read more on the global magnet wire market report here

Magnet Wire Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides global magnet wire market overviews, analyzes and forecasts market size and growth for the global magnet wire market, global magnet wire market share, global magnet wire market segments and geographies, global magnet wire market players, global magnet wire market leading competitor revenues, profiles and market shares. The global magnet wire market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.

TBRC’s Magnet Wire Global Market Report 2022 includes information on the following:

Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies

Key Market Players: Elektrisola, Essex Furukawa Magnet Wire LLC, Fujikura Ltd, Furukawa Electric Co. Ltd., Gold Cup Electric Electromagnetic Wire Co. Ltd., Hitachi, Hongyuan Group Co. Ltd., Roshow Technology, Jingda, Condumex, Aislantes, Alconex, LS Cable & System Ltd, Magnekon, and REA Magnet Wire.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.

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