Magnet Wire Market by Type (Copper, Aluminum), Shape (Round, Rectangle, Square), Application (Motor, Home Appliance, Transformer), End-Use Industry (Electrical & Electronics, Industrial, Transportation, Infrastructure), Region - Global Forecast to 2024
[119 Pages Report] The magnet wire market size is projected to grow from USD 30.1 billion in 2019 to USD 36.8 billion by 2024, at a CAGR of 4.1% between 2019 and 2024. The market is growing owing to the high demand from end-use industries, such as transportation, industrial, electrical & electronics, and infrastructure. APAC is the largest market for magnet wire and is expected to remain the dame during the forecast year.
Electrical & electronics is the largest consumer of magnet wire.
Electrical & electronics is the biggest end-use industry of the magnet wire market. These wires are used in the form of coil in various products in the electrical & electronics industry. For instance, products such as fans, toys, trimmers, inverters, air conditioners, and other consumer electronics use magnet wire as a coil. The increasing usage of household appliances is accountable for the increased market size of magnet wire in the electrical & electronics industry.
Copper magnet wire accounted for the major share in the magnet wire market.
Copper is the more widely used type of magnet wire. Copper magnet wire offers better conductivity and possesses excellent tensile strength. Additionally, it also offers superior heat shock resistance, moisture resistance, chemical resistance, and have lesser cross-section area. This makes it suitable for applications in the transportation and electrical & electronics industries.
Motor is the major application of magnet wire.
Motor is the biggest application of magnet wire. The large market size for magnet wire in motor application is driven by the growth of the transportation industry. The consumption of magnet wires in motor application is witnessing high growth in the automotive sector.
APAC is expected to lead the magnet wire market during the forecast period.
APAC is the largest consumer of magnet wire. The booming transportation and electrical & electronics industries are responsible for the growth of the magnet wire market in the region. China is one of the prominent consumers of magnet wire in the region. The country has become the single-largest consumer of magnet wire in the wind energy industry and is expected to strengthen its position further. APAC has a presence of major magnet wire manufacturers such as LS Cable & System, Sumitomo Electric Industries, Ltd., and Samdong Co., Ltd.
Key Market Players
The magnet wire market comprises major manufacturers such as 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), and Fujikura Ltd. (Japan). The study includes an in-depth competitive analysis of these key players in the magnet wire market, with their company profiles, recent developments, and key market strategies.
Samdong Co., Ltd. is one of the major manufacturers of magnet wires in the APAC region. The company possesses a broad range of products pertaining to the magnet wire market. It gives strong emphasis on the development of high-grade magnet wire for usage in various end-use industries. As a part of its growth strategy, the company is highly focused on expansions. For instance, in June 2018, the company expanded its presence in the European market by opening a facility in Poland to meet the growing demand from Europe.
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Report Metric |
Details |
|
Years considered for the study |
2017-2024 |
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Base year considered |
2018 |
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Forecast period |
20192024 |
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Units considered |
Value (USD Million), Volume (Kiloton) |
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Segment covered |
Type, Shape, Application, End-use Industry, and Region |
|
Geographies covered |
North America, Europe, APAC, the Middle East & Africa (MEA), and Latin America |
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Companies covered |
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), and Fujikura Ltd. (Japan) |
This research report categorizes the magnet wire market based on type, shape, application, end-use industry, and region.
On the basis of type, the magnet wire market has been segmented as follows:
- Copper
- Aluminum
On the basis of shape, the magnet wire market has been segmented as follows:
- Round
- Rectangle
- Square
On the basis of application, the magnet wire market has been segmented as follows:
- Motor
- Home Appliance
- Transformer
- Others (Reactor, watch coil, generator, and others)
On the basis of end-use industry, the magnet wire market has been segmented as follows:
- Electrical & Electronics
- Industrial
- Transportation
- Infrastructure
- Others (Marine, wind energy, aviation, and others)
On the basis of region, the magnet wire market has been segmented as follows:
- North America
- Europe
- APAC
- Middle East & Africa (MEA)
- Latin America
Recent Developments
- In June 2018, Samdong Co., Ltd. expanded its business in Europe by establishing a new production facility at Kosin, Poland.
- In June 2018, REA Magnet Wire launched a high-grade magnet wire under the brand name NanoMax. This newly developed magnet wire offers excellent corona resistant property and is used in motors, generators, and other applications.
- In December 2017, LS Cable & System Ltd. established a manufacturing facility at Zrenjanin, Serbia. The production facility has strong focus on development and manufacturing of magnet wires.
Key Questions addressed by the report
- Which are the major end-use industries of magnet wire?
- Which industry is the major consumer of magnet wire?
- Which region is the largest and fastest-growing market for magnet wire?
- What are the major types of materials used in manufacturing magnet wire?
- What are the major strategies adopted by the leading market players?
Frequently Asked Questions (FAQ):
What are the factors Influencing the growth of magnet wire market?
Increasing demand from power sector is influencing the demand for magnet wire. Magnet wires are widely used in transformers, generators, and electric motors. The growing demand for electricity is responsible for the increasing demand for transformers and generators., which in turn affecting magnet wire market positively.
What are the different applications of magnet wire?
Motor, home appliance, and transformer are the major applications of magnet wire, where motor is largest application in the magnet wire market.
Which are the major types of magnet wire?
Copper and aluminum are two types of magnet wire. Copper magnet wire holds the largest market, while aluminum is the fastest-growing segment.
What are the opportunities for magnet wire in recent future?
The demand for magnet wire is augmenting in the APAC region. The end-use industries of magnet wires, such as transportation, infrastructure, and power sector, is growing at a high pace in the region and is expected to play a major role in driving the demand for magnet wires in the coming years.
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Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Limitations
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 30)
4.1 Attractive Opportunities in the Magnet Wire Market
4.2 Magnet Wire Market, By End-Use Industry
4.3 Magnet Wire Market, By Type
4.4 Magnet Wire Market, By Country
5 Market Overview (Page No. - 33)
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Growing Market of Electric Vehicles
5.1.1.2 High Demand From the Power Sector
5.1.2 Restraints
5.1.2.1 Shift Towards Compact Motors
5.1.3 Opportunities
5.1.3.1 Growing Demand From the APAC Region
5.1.4 Challenges
5.1.4.1 Cracking and Bulging of Insulation
5.2 Porters Five Forces Analysis
5.2.1 Threat of New Entrants
5.2.2 Threat of Substitutes
5.2.3 Bargaining Power of Suppliers
5.2.4 Bargaining Power of Buyers
5.2.5 Intensity of Competitive Rivalry
6 Magnet Wire Market, By Type (Page No. - 38)
6.1 Introduction
6.2 Copper
6.2.1 Copper Segment Dominates Overall Magnet Wire Market
6.3 Aluminum
6.3.1 the Market for Aluminum Magnet Wire is Driven By Demand in Transformer Application
7 Magnet Wire Market, By Shape (Page No. - 42)
7.1 Introduction
7.2 Round Magnet Wire
7.2.1 Round Magnet Wire is the Most-Widely Used Magnet Wire
7.3 Rectangle Magnet Wire
7.3.1 High Demand in Transformers is Driving the Market for Rectangular Magnet Wire
7.4 Square Magnet Wire
7.4.1 Demand for Compact Coils is Responsible for the Growth of Square Magnet Wire
8 Magnet Wire Market, By Application (Page No. - 48)
8.1 Introduction
8.2 Motor
8.2.1 Automotive Industry is Driving the Demand for Magnet Wire in Motor Application
8.3 Home Appliance
8.3.1 APAC is the Largest Magnet Wire Market in Home Appliance Application
8.4 Transformer
8.4.1 Growth of Power Sector is Driving the Consumption of Magnet Wire in Transformers
8.5 Others
9 Magnet Wire Market, By End-Use Industry (Page No. - 55)
9.1 Introduction
9.2 Electrical & Electronics
9.2.1 Electrical & Electronics is the Major End-Use Industry of Magnet Wire
9.3 Industrial
9.3.1 Increasing Demand From Transformers Will Drive the Market in the Industrial Sector
9.4 Transportation
9.4.1 Growing Demand for Electric Vehicle is Driving the Consumption of Magnet Wire in Transportation Industry
9.5 Infrastructure
9.5.1 APAC is the Biggest Consumer of Magnet Wire in the Infrastructure Industry
9.6 Others
10 Magnet Wire Market, By Region (Page No. - 63)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 High Demand From Motor Application is Driving the Market in the US
10.2.2 Canada
10.2.2.1 Electrical & Electronics Industry is Boosting the Demand in Canada
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany is the Leading Consumer of Magnet Wire in Europe
10.3.2 UK
10.3.2.1 Growing Demand for Magnet Wire From Electric Vehicles
10.3.3 France
10.3.3.1 Transportation Industry is Driving the Market in France
10.3.4 Italy
10.3.4.1 Transportation is One of the Major End-Use Industries of Magnet Wire in Italy
10.3.5 Rest of Europe
10.4 APAC
10.4.1 China
10.4.1.1 China is the Largest Consumer of Magnet Wire
10.4.2 Japan
10.4.2.1 Presence of Major Magnet Wire Manufacturers in the Country Contributes to Market Growth
10.4.3 South Korea
10.4.3.1 Consumption of Magnet Wire in Electrical & Electronics Industry is Increasing in the Country
10.4.4 India
10.4.4.1 Demand for Copper Magnet Wire is Growing From Motor and Transformer Applications
10.4.5 Rest of APAC
10.5 Latin America
10.5.1 Mexico
10.5.1.1 Mexico is the Largest Market in Latin America
10.5.2 Brazil
10.5.2.1 Growing Consumption From Transportation Industry is Driving the Demand for Magnet Wire in Brazil
10.5.3 Argentina
10.5.3.1 High Demand for Magnet Wire Witnessed From the Electrical & Electronics Industry
10.5.4 Rest of Latin America
10.6 MEA
10.6.1 Saudi Arabia
10.6.1.1 Saudi Arabia is the Largest Market in the MEA
10.6.2 UAE
10.6.2.1 Increasing Demand From Industrial Application is Driving the Market in the UAE
10.6.3 Rest of MEA
11 Competitive Landscape (Page No. - 83)
11.1 Introduction
11.2 Competitive Leadership Mapping
11.2.1 Dynamic Differentiators
11.2.2 Innovators
11.2.3 Visionary Leaders
11.2.4 Emerging Companies
11.3 Competitive Benchmarking
11.3.1 Product Offering
11.3.2 Business Strategy
11.4 Market Ranking
11.5 Competitive Scenario
11.5.1 New Product Launches
11.5.2 Expansions & Investments
11.5.3 Mergers & Acquisitions
12 Company Profiles (Page No. - 91)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
12.1 LS Cable & System Ltd.
12.2 REA Magnet Wire
12.3 Irce S.P.A.
12.4 Elektrisola
12.5 Tongling Jingda Special Magnet Wire Co., Ltd.
12.6 FurUKawa Electric Co., Ltd.
12.7 Samdong Co., Ltd.
12.8 Sumitomo Electric Industries, Ltd.
12.9 Fujikura Ltd.
12.10 LWW Group
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
12.11 Other Key Players
12.11.1 Hitachi Metals, Ltd.
12.11.2 Magnekon
12.11.3 Von Roll Holding AG
12.11.4 Condumex Inc.
12.11.5 Precision Wires India Limited
12.11.6 Roshow Technology Co., Ltd.
12.11.7 Ederfil-Becker
12.11.8 Schwering & Hasse Elektrodraht Gmbh
12.11.9 Aislantes, Conductores Esmaltados Y Barnices S.A
12.11.10 Zml Industries S.P.A.
13 Appendix (Page No. - 114)
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details
List of Tables (72 Tables)
Table 1 Magnet Wire Market Size, 20172024
Table 2 Magnet Wire Market Size, By Type, 20172024 (Kiloton)
Table 3 Magnet Wire Market Size, By Type, 20172024 (USD Million)
Table 4 Copper Magnet Wire Market Size, By Regin, 20172024 (Kiloton)
Table 5 Copper Magnet Wire Market Size, By Region, 20172024, (USD Million)
Table 6 Aluminum Magnet Wire Market Size, By Region, 20172024 (Kiloton)
Table 7 Aluminum Magnet Wire Market Size, By Region, 20172024, (USD Million)
Table 8 Magnet Wire Market Size, By Shape, 20172024 (Kiloton)
Table 9 Magnet Wire Market Size, By Shape, 20172024 (USD Million)
Table 10 Round Magnet Wire Market Size, By Region, 20172024 (Kiloton)
Table 11 Round Magnet Wire Market Size, By Region, 20172024, (USD Million)
Table 12 Rectangle Magnet Wire Market Size, By Region, 20172024 (Kiloton)
Table 13 Rectangle Magnet Wire Market Size, By Region, 20172024, (USD Million)
Table 14 Square Magnet Wire Market Size, By Region, 20172024 (Kiloton)
Table 15 Square Magnet Wire Market Size, By Region, 20172024, (USD Million)
Table 16 Magnet Wire Market Size, By Application, 20172024 (Kiloton)
Table 17 Magnet Wire Market Size, By Application, 20172024 (USD Million)
Table 18 Magnet Wire Market Size in Motor, By Region, 20172024 (Kiloton)
Table 19 Magnet Wire Market Size in Motor, By Region, 20172024, (USD Million)
Table 20 Magnet Wire Market Size in Home Appliance, By Region, 20172024 (Kiloton)
Table 21 Magnet Wire Market Size in Home Appliance, By Region, 20172024, (USD Million)
Table 22 Magnet Wire Market Size in Transformer, By Region, 20172024 (Kiloton)
Table 23 Magnet Wire Market Size in Transformer, By Region, 20172024, (USD Million)
Table 24 Magnet Wire Market Size in Other Applications, By Region, 20172024 (Kiloton)
Table 25 Magnet Wire Market Size in Other Applications, By Region, 20172024, (USD Million)
Table 26 Magnet Wire Market Size, By End-Use Industry, 20172024 (Kiloton)
Table 27 Magnet Wire Market Size, By End-Use Industry, 20172024 (USD Million)
Table 28 Magnet Wire Market Size in Electrical & Electronics, By Region, 20172024 (Kiloton)
Table 29 Magnet Wire Market Size in Electrical & Electronics, By Region, 20172024, (USD Million)
Table 30 Magnet Wire Market Size in Industrial, By Region, 20172024 (Kiloton)
Table 31 Magnet Wire Market Size in Industrial, By Region, 20172024, (USD Million)
Table 32 Magnet Wire Market Size in Transportation, By Region, 20172024 (Kiloton)
Table 33 Magnet Wire Market Size in Transportation, By Region, 20172024, (USD Million)
Table 34 Magnet Wire Market Size in Infrastructure, By Region, 20172024 (Kiloton)
Table 35 Magnet Wire Market Size in Infrastructure, By Region, 20172024, (USD Million)
Table 36 Magnet Wire Market Size in Other Industries, By Region, 20172024 (Kiloton)
Table 37 Magnet Wire Market Size in Other Industries, By Region, 20172024, (USD Million)
Table 38 Magnet Wire Market Size, By Region, 20172024 (Kiloton)
Table 39 Magnet Wire Market Size, By Region, 20172024 (USD Million)
Table 40 North America: Magnet Wire Market Size, By Country, 20172024 (Kiloton)
Table 41 North America: Magnet Wire Market Size, By Country, 20172024 (USD Million)
Table 42 North America: Magnet Wire Market Size, By End-Use Industry, 20172024 (Kiloton)
Table 43 North America: Magnet Wire Market Size, By End-Use Industry, 20172024 (USD Million)
Table 44 North America: Magnet Wire Market Size, By Type, 20172024 (Kiloton)
Table 45 North America: Magnet Wire Market Size, By Type, 20172024 (USD Million)
Table 46 Europe: Magnet Wire Market Size, By Country, 20172024 (Kiloton)
Table 47 Europe: Magnet Wire Market Size, By Country, 20172024 (USD Million)
Table 48 Europe: Magnet Wire Market Size, By End-Use Industry, 20172024 (Kiloton)
Table 49 Europe: Magnet Wire Market Size, By End-Use Industry, 20172024 (USD Million)
Table 50 Europe: Magnet Wire Market Size, By Type, 20172024 (Kiloton)
Table 51 Europe: Magnet Wire Market Size, By Type, 20172024 (USD Million)
Table 52 APAC: Magnet Wire Market Size, By Country, 20172024 (Kiloton)
Table 53 APAC: Magnet Wire Market Size, By Country, 20172024 (USD Million)
Table 54 APAC: Magnet Wire Market Size, By End-Use Industry, 20172024 (Kiloton)
Table 55 APAC: Magnet Wire Market Size, By End-Use Industry, 20172024 (USD Million)
Table 56 APAC: Magnet Wire Market Size, By Type, 20172024 (Kiloton)
Table 57 APAC: Magnet Wire Market Size, By Type, 20172024 (USD Million)
Table 58 Latin America: Magnet Wire Market Size, By Country, 20172024 (Kiloton)
Table 59 Latin America: Magnet Wire Market Size, By Country, 20172024 (USD Million)
Table 60 Latin America: Magnet Wire Market Size, By End-Use Industry, 20172024 (Kiloton)
Table 61 Latin America: Magnet Wire Market Size, By End-Use Industry, 20172024 (USD Million)
Table 62 Latin America: Magnet Wire Market Size, By Type, 20172024 (Kiloton)
Table 63 Latin America: Magnet Wire Market Size, By Type, 20172024 (USD Million)
Table 64 MEA: Magnet Wire Market Size, By Country, 20172024 (Kiloton)
Table 65 MEA: Magnet Wire Market Size, By Country, 20172024 (USD Million)
Table 66 MEA: Magnet Wire Market Size, By End-Use Industry, 20172024 (Kiloton)
Table 67 MEA: Magnet Wire Market Size, By End-Use Industry, 20172024 (USD Million)
Table 68 MEA: Magnet Wire Market Size, By Type, 20172024 (Kiloton)
Table 69 MEA: Magnet Wire Market Size, By Type, 20172024 (USD Million)
Table 70 New Product Launches, 20142018
Table 71 Expansions & Investments, 20142018
Table 72 Mergers & Acquisitions, 20142018
List of Figures (46) Figures
Figure 1 Magnet Wire Market Segmentation
Figure 2 Years Considered for the Study
Figure 3 Magnet Wire Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation: Top-Down Approach
Figure 6 Magnet Wire Market: Data Triangulation
Figure 7 Copper Magnet Wire to Drive the Overall Market Between 2017 and 2024
Figure 8 Round Magnet Wire Accounted for Maximum Share in Overall Magnet Wire Market, By Value (2018)
Figure 9 Electrical & Electronics to Be the Leading End-Use Industry of Magnet Wire Between 2017 and 2024
Figure 10 Motor Application Accounted for Largest Share of the Magnet Wire Market in 2018
Figure 11 China Projected to Be Fastest-Growing Market for Magnet Wire
Figure 12 APAC Magnet Wire Market to Witness Highest Growth Between 2019 and 2024
Figure 13 Demand for Magnet Wire Expected to Grow Significantly in Motor Application Between 2019 and 2024
Figure 14 Electronics to Lead Overall Magnet Wire Market
Figure 15 Copper Segment to Dominate Overall Magnet Wire Market
Figure 16 Round Magnet Wire to Grow at the Fastest Cagr
Figure 17 Motor Application to Dominate Overall Magnet Wire Market
Figure 18 China to Register Highest Cagr in Magnet Wire Market
Figure 19 Overview of Factors Governing the Magnet Wire Market
Figure 20 Magnet Wire Market: Porters Five Forces Analysis
Figure 21 Copper Dominates Overall Magnet Wire Market
Figure 22 APAC to Be the Leading Market for Copper Magnet Wire
Figure 23 Round Magnet Wire Holds the Major Share in Overall Magnet Wire Market
Figure 24 APAC to Be the Leading Market for Round Magnet Wires
Figure 25 Motor to Be the Leading Application of Magnet Wire
Figure 26 APAC is the Biggest Market for Magnet Wire in Motor Application
Figure 27 Electrical & Electronics to Be the Leading End-UsIndustry of Magnet Wire
Figure 28 APAC is the Biggest Market for Magnet Wire in Electrical & Electronics
Figure 29 APAC Dominates the Global Magnet Wire Market (20192024)
Figure 30 Magnet Wire Market Snapshot: Us is the Most Lucrative Market in North America
Figure 31 Magnet Wire Market Snapshot: Germany is the Fastest-Growing Market in Europe
Figure 32 China is the Key Magnet Wire Market in APAC (20192024)
Figure 33 Mexico is the Key Magnet Wire Market in Latin America (20192024)
Figure 34 Saudi Arabia is the Key Magnet Wire Market in MEA, 20192024
Figure 35 Companies Adopted Expansion and New Product Development as Key Growth Strategies Between 2014 and 2018
Figure 36 Magnet Wire Market: Competitive Leadership Mapping, 2018
Figure 37 LS Cable & System Ltd.: Company Snapshot
Figure 38 LS Cable & System Ltd.: SWOT Analysis
Figure 39 REA Magnet Wire: SWOT Analysis
Figure 40 Irce S.P. A.: Company Snapshot
Figure 41 Irce S.P.A.: SWOT Analysis
Figure 42 Elektrisola: SWOT Analysis
Figure 43 Tongling Jingda Special Magnet Wire Co., Ltd.: SWOT Analysis
Figure 44 Furukawa Electric Co., Ltd.: Company Snapshot
Figure 45 Sumitomo Electric Industries, Ltd: Company Snapshot
Figure 46 Fujikura Ltd.: Company Snapshot
The study involved four major activities to estimate the current market size for magnet wire. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of the market segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The magnet wire market comprises several stakeholders such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of various industries such as electrical & electronics, industrial, transportation, infrastructure, and other industries. The supply side is characterized by advancements in technology and diverse applications. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total magnet wire market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size included the following:
- n The key players in the industry and markets were identified through extensive secondary research.
- The industrys supply chain and market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the marine, transportation, wind energy, construction, and other industries.
Report Objectives
- To analyze and forecast the market size of magnet wire market, in terms of value and volume
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To define, describe, and forecast the market on the basis of type, shape, application, and end-use industry
- To define, describe, and forecast the market on the basis of five regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To strategically profile the key players and comprehensively analyze their market share and core competencies
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- Further breakdown of Rest of Europe magnet wire market
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- Further breakdown of Rest of MEA magnet wire market
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