Wire Extrusion Machine Market Size, Share, Trends, Growth and Forecast 2032

Wire Extrusion Machine Market Insights

According to the report published by Zion Market Research, the global Wire Extrusion Machine Market size was valued at USD 5.49 Billion in 2023 and is predicted to reach USD 8.90 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.52% during the forecast period. The report analyzes the global Wire Extrusion Machine Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Wire Extrusion Machine industry.

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Global Wire Extrusion Machine Market: Overview

Wire extrusion is a process commonly used in manufacturing units to shape molten plastic. Wire and cable factories use wire extruders to heat extrude PVC, polyethylene, etc. to protect the cable or to insulate the wire core. The wire extrusion machine is composed of the main extruding machine, temperature control electrical operation cabinet, take-up & arrangement machine, capstan, printer, blow dry, cooling water tank, pay off frame, etc.

Global Wire Extrusion Machine Market: Growth Factors

The global wire extrusion machine market is growing at a substantial rate. The rise in adoption of industrial 4.0, increase in automation in the industrial sector, and availability of a wide range of wire extrusion machines are some of the prime factors that are driving the growth of the global wire extrusion machine market. The manufacturers are majorly looking into the development of effective and efficient wire extrusion machines to meet the demand of the user for precise extrusion requirements is expected to propel the market growth. Currently, the best types of wire extrusion machines are available in the market which offers excellent applications. This includes the manufacturing of communication and electrical wire which plays a vital role in most of the industrial sectors.

Further, these machines also help to minimize the labor cost & overall time and also offer an excellent surface finish. All such factors are boosting the growth of the global market. In addition to this, there is rapid execution of the processes of electrification in developing countries undertaken by the government which is also contributing to the growth of the market. Moreover, the growing demand for environmentally friendly equipment, high performance, and cost-efficient products as well as the presence of strong distributing networks are also the key aspects that are spurring the growth of the market. Furthermore, integration of the internet of things with the wire extrusion machines may offer tremendous opportunities for the growth of the global wire extrusion machine market during the forecast period. However, the high initial setup cost required for the wire extrusion machines may restrain the growth of the global wire extrusion machine market.

COVID-19 pandemic situation has severely affected most of the businesses around the world, and the wire extrusion machine market is also not an exception. To curb the spread of the infection several governments around the world have imposed strict lockdowns, which has resulted in disruption of the supply chain and shortage of raw materials. Many wire extrusion machine manufacturers had to stop their manufacturing processes during this pandemic period due to strict lockdowns and restrictions on transportation. The overall revenue generated in the year 2020 for the market is comparatively less to the previous years. However, the market is expected to bounce back and register healthy growth over the forecast period.

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Global Wire Extrusion Machine Market: Segmentation

The global wire extrusion machine market is bifurcated based on material type, product type, mode of operation, and region.

Based on material type, the global wire extrusion machine market is categorized into plastic and metal.

The product type segment is split by single screw extrusion and twin-screw extrusion.

Wire extrusion machines are available in a different mode of operations that includes semi-automatic and fully automatic.

Wire Extrusion Machine Market: Report Scope

Global Wire Extrusion Machine Market: Regional Analysis

The global wire extrusion machine market is anticipated to register significant growth in the Asia Pacific region over the forecast period. The region is expected to grow with the highest CAGR owing to the developing infrastructure and manufacturing sector. Also, the rapidly growing automobile and the electric sector are projected to largely contribute to the Asia Pacific wire extrusion machine market. North America is forecasted to hold a significant share of the market in terms of revenue. The wire extrusion machine market in North America is experiencing healthy growth owing to the continuously developing infrastructure sector. Europe is also expected to contribute significant revenue in the wire extrusion machine market over the forecast period.

Global Wire Extrusion Machine Market: Competitive Players

The global wire extrusion machine market is highly fragmented and the major players in the market are expanding their market reach with organic strategies such as mergers and acquisitions. Key players operating in the market include:

• Sant Engineering Industries
• Assomac Machines Limited
• TOMER ENGINEERING WORKS
• D C Engineering Works
• Sampsistemi
• MORGAN KOCH
• Pioneer Machinery
• American Kuhne Solutions
• MFL Group
• MAGUIRE PRODUCTS INC., among others.

The Global Wire Extrusion Machine Market is segmented as follows:
    
By material type 

• plastic
• metal 

By product type 

• split by single screw extrusion
• twin-screw extrusion 

By mode of operation 

• semi-automatic
• fully automatic

Global Wire Extrusion Machine Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.