Magnet Wire Market Size, Share, Trends, Growth 2032
Magnet Wire Market By Type (Copper, Aluminum), By Shape (Round, Square, Rectangle), By Application (Motor, Transformer, Home appliance), by End use (Electrical & Electronics, Infrastructure, Transport, Industrial sectors, Consumer goods, Industrial goods)- Global Industry Perspective Comprehensive Analysis and Forecast, 2024 - 2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 34.87 Billion | USD 53.64 Billion | 4.9% | 2023 |
Table Of Content
- Chapter 1. Preface
- 1.1. Report Description and Scope
- 1.2. Research Scope
- 1.3. Research Methodology
- 1.3.1. Market Research Process
- 1.3.2. Market Research Methodology
- Chapter 2. Executive Summary
- 2.1. Magnet Wire Market, 2016 - 2026, (USD Billion)
- 2.2. Magnet Wire Market: Snapshot
- Chapter 3. Global Magnet Wire Market – Industry Analysis
- 3.1. Magnet Wire Market: Market Dynamics
- 3.2. Market Drivers
- 3.2.1. Growing Market of Electric Vehicles
- 3.2.2. High Demand from the Power Sector
- 3.3. Restraints
- 3.3.1. Shift Towards Compact Motors
- 3.4. Opportunity
- 3.4.1. Growing Demand from the APAC Region
- 3.5. Porter’s Five Forces Analysis
- 3.6. Market Attractiveness Analysis
- 3.6.1. Market attractiveness analysis by Type segment
- 3.6.2. Market attractiveness analysis by Shape segment
- 3.6.3. Market attractiveness analysis by Application segment
- 3.6.4. Market attractiveness analysis by End use segment
- 3.6.5. Market attractiveness analysis by regional segment
- Chapter 4. Global Magnet Wire Market - Competitive Landscape
- 4.1. Company market share analysis
- 4.1.1. Global Magnet Wire market: company market share analysis, 2018
- 4.2. Strategic development
- 4.2.1. Acquisitions & mergers
- 4.2.2. New Shape launches
- 4.2.3. Agreements, partnerships, cullaborations and joint ventures
- 4.2.4. Research and development and regional expansion
- 4.1. Company market share analysis
- Chapter 5. Global Magnet Wire Market – Type Segment Analysis
- 5.1. Global Magnet Wire market overview: by Type
- 5.1.1. Global Magnet Wire market revenue share, by Type, 2019 and 2026
- 5.2. Copper
- 5.2.1. Global Magnet Wire market by Copper, 2016-2026 (USD Billion)
- 5.3. Aluminum
- 5.3.1. Global Magnet Wire market by Aluminum, 2016-2026 (USD Billion)
- 5.1. Global Magnet Wire market overview: by Type
- Chapter 6. Global Magnet Wire Market – Shape Segment Analysis
- 6.1. Global Magnet Wire market overview: by Shape
- 6.1.1. Global Magnet Wire market revenue share, by Shape, 2019 and 2026
- 6.2. Round
- 6.2.1. Global Magnet Wire market by Round, 2016-2026 (USD Billion)
- 6.3. Square
- 6.3.1. Global Magnet Wire market by Square, 2016-2026 (USD Billion)
- 6.4. Rectangle
- 6.4.1. Global Magnet Wire market by Rectangle, 2016-2026 (USD Billion)
- 6.1. Global Magnet Wire market overview: by Shape
- Chapter 7. Global Magnet Wire Market – Application Segment Analysis
- 7.1. Global Magnet Wire market overview: by Application
- 7.1.1. Global Magnet Wire market revenue share, by Application, 2019 and 2026
- 7.2. Motor
- 7.2.1. Global Magnet Wire market by Motor, 2016-2026 (USD Billion)
- 7.3. Transformer
- 7.3.1. Global Magnet Wire market by Transformer, 2016-2026 (USD Billion)
- 7.4. Home appliance
- 7.4.1. Global Magnet Wire market by Home appliance, 2016-2026 (USD Billion)
- 7.1. Global Magnet Wire market overview: by Application
- Chapter 8. Global Magnet Wire Market – End use Segment Analysis
- 8.1. Global Magnet Wire market overview: by End use
- 8.1.1. Global Magnet Wire market revenue share, by End use, 2019 and 2026
- 8.2. Electrical & Electronics
- 8.2.1. Global Magnet Wire market by Electrical & Electronics, 2016-2026 (USD Billion)
- 8.3. Infrastructure
- 8.3.1. Global Magnet Wire market by Infrastructure, 2016-2026 (USD Billion)
- 8.4. Transport
- 8.4.1. Global Magnet Wire market by Transport, 2016-2026 (USD Billion)
- 8.5. Industrial sectors
- 8.5.1. Global Magnet Wire market by Industrial sectors, 2016-2026 (USD Billion)
- 8.1. Global Magnet Wire market overview: by End use
- Chapter 9. Global Magnet Wire Market - Regional Analysis
- 9.1. Global Magnet Wire market overview: by region
- 9.1.1. Global Magnet Wire market revenue share, by region, 2019 and 2026
- 9.2. North America
- 9.2.1. North America Magnet Wire market, by country, 2016-2026 (USD Billion)
- 9.2.2. North America Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.2.3. North America Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.2.4. North America Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.2.5. North America Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.2.6. The U.S.
- 9.2.6.1. The U.S. Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.2.6.2. The U.S. Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.2.6.3. The U.S. Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.2.6.4. The U.S. Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.2.7. Rest of North America
- 9.2.7.1. Rest of North America Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.2.7.2. Rest of North America Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.2.7.3. Rest of North America Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.2.7.4. Rest of North America Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.3. Europe
- 9.3.1. Europe Magnet Wire market, by country, 2016-2026 (USD Billion)
- 9.3.2. Europe Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.3.3. Europe Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.3.4. Europe Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.3.5. Europe Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.3.6. U.K.
- 9.3.6.1. U.K. Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.3.6.2. U.K. Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.3.6.3. U.K. Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.3.6.4. U.K. Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.3.7. France
- 9.3.7.1. France Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.3.7.2. France Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.3.7.3. France Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.3.7.4. France Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.3.8. Germany
- 9.3.8.1. Germany Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.3.8.2. Germany Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.3.8.3. Germany Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.3.8.4. Germany Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.3.9. Rest of Europe
- 9.3.9.1. Rest of Europe Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.3.9.2. Rest of Europe Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.3.9.3. Rest of Europe Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.3.9.4. Rest of Europe Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.4. Asia Pacific
- 9.4.1. Asia Pacific Magnet Wire market, by country, 2016-2026 (USD Billion)
- 9.4.2. Asia Pacific Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.4.3. Asia Pacific Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.4.4. Asia Pacific Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.4.5. Asia Pacific Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.4.6. China
- 9.4.6.1. China Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.4.6.2. China Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.4.6.3. China Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.4.6.4. China Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.4.7. Japan
- 9.4.7.1. Japan Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.4.7.2. Japan Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.4.7.3. Japan Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.4.7.4. Japan Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.4.8. India
- 9.4.8.1. India Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.4.8.2. India Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.4.8.3. India Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.4.8.4. India Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.4.9. Rest of Asia Pacific
- 9.4.9.1. Rest of Asia Pacific Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.4.9.2. Rest of Asia Pacific Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.4.9.3. Rest of Asia Pacific Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.4.9.4. Rest of Asia Pacific Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.5. Latin America
- 9.5.1. Latin America Magnet Wire market, by country, 2016-2026 (USD Billion)
- 9.5.2. Latin America Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.5.3. Latin America Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.5.4. Latin America Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.5.5. Latin America Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.5.6. Brazil
- 9.5.6.1. Brazil Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.5.6.2. Brazil Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.5.6.3. Brazil Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.5.6.4. Brazil Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.5.7. Rest of Latin America
- 9.5.7.1. Rest of Latin America Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.5.7.2. Rest of Latin America Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.5.7.3. Rest of Latin America Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.5.7.4. Rest of Latin America Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.6. Middle East & Africa
- 9.6.1. Middle East & Africa Magnet Wire market, 2016-2026 (USD Billion)
- 9.6.2. Middle East & Africa Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
- 9.6.3. Middle East & Africa Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
- 9.6.4. Middle East & Africa Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
- 9.6.5. Middle East & Africa Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
- 9.1. Global Magnet Wire market overview: by region
- Chapter 10. Company Profiles
- 10.1. IRCE S.p.A..
- 10.1.1. Overview
- 10.1.2. Financials
- 10.1.3. Shape Portfolio
- 10.1.4. Business Strategy
- 10.1.5. Recent Developments
- 10.2. LS Cable & System
- 10.2.1. Overview
- 10.2.2. Financials
- 10.2.3. Shape Portfolio
- 10.2.4. Business Strategy
- 10.2.5. Recent Developments
- 10.3. Furukawa Electric Company Limited
- 10.3.1. Overview
- 10.3.2. Financials
- 10.3.3. Shape Portfolio
- 10.3.4. Business Strategy
- 10.3.5. Recent Developments
- 10.4. Samdong Company Limited.
- 10.4.1. Overview
- 10.4.2. Financials
- 10.4.3. Shape Portfolio
- 10.4.4. Business Strategy
- 10.4.5. Recent Developments
- 10.5. Sumitomo Electric Industries, Ltd
- 10.5.1. Overview
- 10.5.2. Financials
- 10.5.3. Shape Portfolio
- 10.5.4. Business Strategy
- 10.5.5. Recent Developments
- 10.6. LWW Group
- 10.6.1. Overview
- 10.6.2. Financials
- 10.6.3. Shape Portfolio
- 10.6.4. Business Strategy
- 10.6.5. Recent Developments
- 10.7. Elektrisula
- 10.7.1. Overview
- 10.7.2. Financials
- 10.7.3. Shape Portfolio
- 10.7.4. Business Strategy
- 10.7.5. Recent Developments
- 10.8. REA Magnet Wire
- 10.8.1. Overview
- 10.8.2. Financials
- 10.8.3. Shape Portfolio
- 10.8.4. Business Strategy
- 10.8.5. Recent Developments
- 10.9. Tongling Jingda Special Magnet Wire Company Limited
- 10.9.1. Overview
- 10.9.2. Financials
- 10.9.3. Shape Portfolio
- 10.9.4. Business Strategy
- 10.9.5. Recent Developments
- 10.1. IRCE S.p.A..
Table Of Figures
List of Figures
1. Market research process
2. Market research methodology
3. Global Magnet Wire market, 2016-2026 (USD Billion)
4. Porter’s five forces analysis: Magnet Wire market
5. Global Magnet Wire market attractiveness, by Type
6. Global Magnet Wire market attractiveness, by Shape
7. Global Magnet Wire market attractiveness, by Application
8. Global Magnet Wire market attractiveness, by End use
9. Global Magnet Wire market revenue share, by Type, 2019 and 2026
10. Global Magnet Wire market by Copper, 2016-2026 (USD Billion)
11. Global Magnet Wire market by Aluminum, 2016-2026 (USD Billion)
12. Global Magnet Wire market revenue share, by Shape, 2019 and 2026
13. Global Magnet Wire market by Round, 2016-2026 (USD Billion)
14. Global Magnet Wire market by Square, 2016-2026 (USD Billion)
15. Global Magnet Wire market by Rectangle, 2016-2026 (USD Billion)
16. Global Magnet Wire market revenue share, by Application, 2019 and 2026
17. Global Magnet Wire market by Motor, 2016-2026 (USD Billion)
18. Global Magnet Wire market by Transformer, 2016-2026 (USD Billion)
19. Global Magnet Wire market by Home appliance, 2016-2026 (USD Billion)
20. Global Magnet Wire market revenue share, by End use, 2019 and 2026
21. Global Magnet Wire market by Electrical & Electronics, 2016-2026 (USD Billion)
22. Global Magnet Wire market by Infrastructure, 2016-2026 (USD Billion)
23. Global Magnet Wire market by Transport, 2016-2026 (USD Billion)
24. Global Magnet Wire market by Industrial sectors, 2016-2026 (USD Billion)
25. Global Magnet Wire market revenue share, by region, 2018 & 2025
26. North America Magnet Wire market, 2016-2026 (USD Billion)
27. Europe Magnet Wire market, 2016-2026 (USD Billion)
28. Asia Pacific Magnet Wire market, 2016-2026 (USD Billion)
29. Latin America Magnet Wire market, 2016-2026 (USD Billion)
30. Middle East & Africa Magnet Wire market, 2016-2026 (USD Billion)
Table Of Tables
List of Tables
1. Global Magnet Wire market: snapshot
2. Drivers for Magnet Wire market: impact analysis
3. Restraints for Magnet Wire market: impact analysis
4. North America Magnet Wire market revenue, by country, 2016-2026 (USD Billion)
5. North America Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
6. North America Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
7. North America Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
8. North America Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
9. The U.S. Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
10. The U.S. Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
11. The U.S. Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
12. The U.S. Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
13. Rest of North America Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
14. Rest of North America Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
15. Rest of North America Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
16. Rest of North America Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
17. Europe Magnet Wire market revenue, by country, 2016-2026 (USD Billion)
18. Europe Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
19. Europe Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
20. Europe Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
21. Europe Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
22. U.K. Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
23. U.K. Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
24. U.K. Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
25. U.K. Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
26. France Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
27. France Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
28. France Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
29. France Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
30. Germany Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
31. Germany Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
32. Germany Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
33. Germany Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
34. Rest of Europe Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
35. Rest of Europe Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
36. Rest of Europe Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
37. Rest of Europe Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
38. Asia Pacific Magnet Wire market revenue, by country, 2016-2026 (USD Billion)
39. Asia Pacific Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
40. Asia Pacific Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
41. Asia Pacific Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
42. Asia Pacific Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
43. China Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
44. China Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
45. China Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
46. China Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
47. Japan Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
48. Japan Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
49. Japan Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
50. Japan Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
51. India Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
52. India Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
53. India Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
54. India Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
55. Rest of Asia Pacific Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
56. Rest of Asia Pacific Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
57. Rest of Asia Pacific Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
58. Rest of Asia Pacific Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
59. Latin America Magnet Wire market revenue, by country, 2016-2026 (USD Billion)
60. Latin America Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
61. Latin America Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
62. Latin America Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
63. Latin America Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
64. Brazil Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
65. Brazil Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
66. Brazil Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
67. Brazil Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
68. Rest of Latin America Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
69. Rest of Latin America Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
70. Rest of Latin America Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
71. Rest of Latin America Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
72. Middle East & Africa Magnet Wire market revenue, by Type, 2016-2026 (USD Billion)
73. Middle East & Africa Magnet Wire market revenue, by Shape, 2016-2026 (USD Billion)
74. Middle East & Africa Magnet Wire market revenue, by Application, 2016-2026 (USD Billion)
75. Middle East & Africa Magnet Wire market revenue, by End use, 2016-2026 (USD Billion)
Methodology
FrequentlyAsked Questions
Magnet wire, sometimes referred to as enameled wire, is an insulated copper or aluminum wire type that is used in electrical equipment such as electromagnets, transformers, motors, inductors, and other devices that need tight coils of wire. Magnet wire usually has a thin covering of enamel or polymer acting as insulation. This layer keeps the wire from becoming bulky and allows it to be coiled into small coils.
EVs' electric motors consume a lot of magnet wire. Magnet wire demand is predicted to rise as EV usage rises as a result of government incentives, environmental concerns, and battery technology developments.
Zion Market Research has published a report on the global Magnet Wire Market, estimating its value at USD 34.87 Billion in 2023, with projections indicating that it will reach USD 53.64 Billion by 2032.
Zion Market Research has published a report on the global Magnet Wire Market is expected to expand at a compound annual growth rate (CAGR) of 4.9% over the forecast period 2024-2032.
North America, Europe, and Latin American markets have huge untapped growth potential and are likely to be the key business destinations for the manufacturers over the years to come.
Few of the main participants in magnet wire market are IRCE S.p.A. (Italy), LS Cable & System (South Korea), Furukawa Electric Company Limited (Japan), Samdong Company Limited (South Korea), Sumitomo Electric Industries, Ltd. (Japan), LWW Group (Sweden), Elektrisola (Germany), REA Magnet Wire (U.S.), Tongling Jingda Special Magnet Wire Company Limited. (China), and Fujikura Limited (Japan).
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