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Wire used for winding in electrical equipment is referred to as magnet wire (also sometimes as motor wire or winding wire). In simplest terms, magnet wire is used for interchanging electrical energy with magnetic energy. The most common magnet wire is copper insulated wire used in electric motors, one of the greatest inventions of all time, right up there with the wheel and light bulb. Magnet wires can be divided into broad categories that include enameled wire, covered (or served) wire, or combinations of the two. Furthermore, magnet wires are used in variety of devices such as electrical, communications and electronic devices. They are used in making coils for a very wide range of applications, from extra fine wire coils in electronic devices and moving coils in microminiaturized instruments to coils in large-capacity transformers in electric power supply grids and field coils in large-scale A.C. turbine generators.
Growing market of electric vehicles, advancement in technology and increasing demand from automotive industry, Infrastructure industries are some of the factors driving the magnet wire market. However, shift towards compact motors are the factors hampering the magnet wire market.
The magnet wire is segmented by type, shape, application, end user and geography.
Major types of magnet wire are copper and aluminium. Among these, the copper magnet wire accounted for the largest market share, owing to the better conductivity and possesses excellent tensile strength. Additionally, it also offers superior heat shock resistance, moisture resistance.
Magnet wires are commercialized in various shapes such as, round magnet wire, rectangle magnet wire and square magnet wire. The most common and widely used magnet magnet wire is the round wire. It can come in various sizes, and as it can be coated with varnish, an insulating material, it can maintain more stable insulation properties and thus has a wide range of applications.
The magnet wire find its applications in motor, home appliance, transformer and others. Due to the growth in transportation industry, the motor application segment witnessed the largest market size in 2018.
Magnet wires are majorly used in end user such as, electrical & electronics, industrial, transportation, infrastructure and others. The electrical & electronics segment dominated the market in 2018, due to the growing usage of household appliances is accountable for the augmented market size of magnet wire in the electrical & electronics industry.
Based on geography, the market is segmented into Asia-Pacific, North America, Western Europe, Central & Eastern Europe, Middle East & Africa and South America. Asia Pacific emerged as the largest consumer and dominated the magnet wire market in 2018, owing to huge demand for magnet wire from countries such as Japan, China, India and increasing consumption for magnet wire in various end use industries is benefitting the overall regional market.
The global magnet wire market is led by key companies such as LS Cable & System Ltd., REA Magnet Wire, Irce S.P.A., Elektrisola, Tongling Jingda Special Magnet Wire Co., Ltd., FurUKawa Electric Co., Ltd., Samdong Co., Ltd., Sumitomo Electric Industries, Ltd., Fujikura Ltd., LWW Group, Hitachi Metals, Ltd., Magnekon, Von Roll Holding AG, Condumex Inc., Roshow Technology Co., Ltd., Ederfil-Becker, Schwering & Hasse Elektrodraht Gmbh, Aislantes, Conductores Esmaltados Y Barnices S.A, Zml Industries S.P.A.. Foremost companies have invested huge capital in mergers & acquisitions and research & development activities to develop advanced products in the market.
The magnet wire is segmented by type, shape, application, end user and geography. Major types of magnet wire are copper and aluminium. Among these, the copper magnet wire accounted for the largest market share, owing to the better conductivity and possesses excellent tensile strength. Additionally, it also offers superior heat shock resistance, moisture resistance. Magnet wires are commercialized in various shapes such as, round magnet wire, rectangle magnet wire and square magnet wire. The most common and widely used magnet magnet wire is the round wire. It can come in various sizes, and as it can be coated with varnish, an insulating material, it can maintain more stable insulation properties and thus has a wide range of applications. The magnet wire find its applications in motor, home appliance, transformer and others. Due to the growth in transportation industry, the motor application segment witnessed the largest market size in 2018. Magnet wires are majorly used in end user such as, electrical & electronics, industrial, transportation, infrastructure and others. The electrical & electronics segment dominated the market in 2018, due to the growing usage of household appliances is accountable for the augmented market size of magnet wire in the electrical & electronics industry. Based on geography, the market is segmented into Asia-Pacific, North America, Western Europe, Central & Eastern Europe, Middle East & Africa and South America. Asia Pacific emerged as the largest consumer and dominated the magnet wire market in 2018, owing to huge demand for magnet wire from countries such as Japan, China, India and increasing consumption for magnet wire in various end use industries is benefitting the overall regional market.
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