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The growth of the transport sector, the demand for copper stranded wire is also acceleratin which is driving the Copper Stranded Wire Market

HYDERABAD, TELANGANA, INDIA, December 28, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Copper Stranded Wire Market size is forecasted to grow at a CAGR of 1.2% during 2022-2027. Copper stranded wire is widely employed in end-use industries such as electronics and telecommunication, construction and building, transportation, and more. It is used as a flexible joining in electronic devices, electric transmission, distribution appliances, thyristor, electrical wiring, and signal cables, as these wires are easy to bend and twist, which makes them ideal for restricted locations. The copper stranded market is primarily driven by an increase in construction activities. The growing electronics and telecommunication industry is also propelling the copper stranded wire industry growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Copper-Stranded-Wire-Market-Research-503285

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Key takeaways:

This IndustryARC report on the Copper Stranded Wire Market highlights the following areas -

1. Asia-Pacific region dominates the copper stranded wire market. Under the "Housing For All by 2022" scheme by the government of India about 20 million homes will be constructed by 2022 for an estimated US$31 billion in India. The market is growing faster as a result of such government- upported construction activities in the region.

2. Copper stranded wire demand is increasing in electronic devices such as electric stoves and thyristors because these wires are flexible and easy to bend.

3. The growing need for energy and the creation of products with more versatile and functional applications is fueling the copper stranded market growth.

4. Furthermore, the increasing use of copper stranded wires in signal cables is further accelerating the copper stranded wire market growth.

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Segmental Analysis:

1. The Bunchedsegment held the largest share in the copper stranded wire market in 2021 and is growing at a CAGR of 1.1% during 2022-2027. There are no specific geometry arrangements in bunched-stranded wire setups. The strands are bunched together in the same direction, and the wires are tightly twisted together to ensure that they are evenly packed.

2. Asia-Pacific region held the largest share in the Copper Stranded Wire Market in 2021 up to36%, owing to the increase of the construction activities in the region. In comparison with other types of wires copper stranded wires are easier to route the electrical wiring which makes its application in construction activities more beneficial.

3. The building and construction segment held the largest share in the copper stranded wire market in 2021 and is growing at a CAGR of 2.3% during 2022-2027. The copper stranded wires are employed in the construction activities for electric supply through ground electrical wiring.

4. Copper stranded wires are ideal for applications requiring a lot of bending, snaking, movement, and reshaping, this is the reason it is widely employed in vehicles. In aircraft, copper stranded wires are widely employed to minimize the fatigue breakdown. The growing demand for battery-powered electronic vehicles is accelerating the copper stranded market growth.

Competitive Landscape:

The top 5 players in the Copper Stranded Wire Industry are -

1. General Cables

2. Nexans

3. Alan Wire Company

4. Prysmian Group

5. Sumitomo Electric Industries, Ltd.

Click on the following link to buy the Copper Stranded Wire Market Report:
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Related Reports:

A. Automotive Cable Market
https://www.industryarc.com/Research/Automotive-Cable-Market-Research-507602

B. Copper Wire Bonding ICs Market
https://www.industryarc.com/Report/15681/copper-wire-bonding-ics-market.html

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