According to a new report, published by KBV research, The Global Copper Magnetic Wire Market size is expected to reach $31.6 billion by 2028, rising at a market growth of 5.1% CAGR during the forecast period.
The Construction segment is showcasing a CAGR of 5.6% during (2022 - 2028). The segment's growth is owed to the high usage of equipment and tools that use copper winding in the industry. Most construction tools, including drills, saws, bar benders, jackhammers, and others, utilize parts with a copper magnetic wire wound core, including transformers, solenoids, actuators, and motors. In addition, the increase in industrialization and urbanization is further increasing the utilization of heavy equipment in the construction industry.
The Enameled segment acquired maximum revenue share in the Global Copper Magnetic Wire Market by Type in 2021 thereby, achieving a market value of $22.1 billion by 2028. All copper wires, whether small or large in diameter, coated with polymers like polyamidimide, polyimide, polyesterimide, and other polymers are included in the enameled segment. On the tiny copper magnetic wires, enamel can be placed. Aromatic polyimide wire satisfies class-H standards of heat resistance completely and has a comparatively large space factor.
The Asia Pacific market dominated the Global Copper Magnetic Wire Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13.6 billion by 2028. The Europe market is exhibiting a CAGR of 4.9% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 4.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/copper-magnetic-wire-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Sumitomo Electric Industries, Ltd., LS Cable & System Ltd., Schwering & Hass Elektrodraht GmbH (SYNFLeX Elektro GmbH), Proterial, Ltd (Hitachi, Ltd), SAM Dong Co., Ltd, Elektrisola Dr. Gerd Schildbach GmbH & Co. KG, Rea Magnet Wire Company Inc., IRCE S.p.A., Dahrén Group (Liljedahl Group AB) and Hpw Metallwerk GmbH.
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