Magnet Wire Market worth USD 36.8 Billion by 2024 | Global Major Manufacturers, Production and Sales Market Comparison

Press Release

A fresh report titled on “Magnet Wire Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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Top Companies profiled in the Magnet Wire Market:

  • 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)
  • Fujikura Ltd. (Japan)

The Magnet Wire Market size is estimated at US$ 30.1 Billion in 2019 and is projected to reach US$ 36.8 Billion by 2024, at a CAGR of 4.1% between 2019 and 2024. This report spread across 119 pages, profiling 10 companies and supported with 72 tables and 46 figures is now available in this research.

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Copper magnet wire is more widely used in electrical motor, generator, reactor, 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.

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.

Breakdown of primary participants’ profile:

  • By Company: Tier 1- 37%, Tier 2- 42%, and Tier 3-21%
  • By Designation: C level – 30%, Director level – 25%, and Others- 45%
  • By Region: APAC – 40%, Europe – 27%, North America – 20%, Middle East & Africa – 7%, and Latin America – 6%

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Competitive Landscape of Magnet Wire Market:

1 Introduction

2 Competitive Leadership Mapping

2.1 Dynamic Differentiators

2.2 Innovators

2.3 Visionary Leaders

2.4 Emerging Companies

3 Competitive Benchmarking

3.1 Product Offering

3.2 Business Strategy

4 Market Ranking

5 Competitive Scenario

5.1 New Product Launches

5.2 Expansions & Investments

5.3 Mergers & Acquisitions

Reason to access this report:

The report will help the market players with information on the closest approximations of the revenue numbers of the overall magnet wire market and its sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

This post was originally published on Analytics News