The automotive magnet wire market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.3% in the forecast period of 2021 to 2028 and is expected to reach USD 6,187.33 million by 2028. Rising adoption of electric vehicle (EV) further enhances the requirement of magnet wires which is driving the overall growth of the global automotive magnet wire market.
Magnet wire in automotive is a fundamental component of transforming the electrical energy in the motors, starters, ignition coil, power control system and other vehicle parts. Magnet wire comprises the following features: insulation uniformity, good electric properties such as dielectric strength with insulation resistance, resistance to mechanical stress, resistance to chemicals, solvents, thermal resistance and long thermal life.
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Automotive Magnet Wire Market Scope and Market Size
· The automotive magnet wire market is segmented on the basis of the type, product type, material, shape, application, distribution channel and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
· On the basis of type, the automotive magnet wire market is segmented into copper wire and aluminium wire. In 2021, copper wire segment holds the largest market share due to the increase in the preference of copper magnet wire by the motor manufacturers as it provides excellent chemical and mechanical properties along with heat resistant, better conductivity, energy efficiency and others.
· On the basis of product type, the automotive magnet wire market is segmented into enamelled wire and covered conductor wire. In 2021, the enamelled wire segment dominates the overall market with maximum market share due to several factors including excellent insulation material, stable quality, high electrical resistance, light in weight resistance to corrosion among others.
· On the basis of material, the automotive magnet wire market is segmented into polyamide-imide (PAI), polyimides (PI), polyetherimide (PEI), polyether ether ketone (PEEK) and others. In 2021, the polyamide-imide (PAI) segment augments the market share due to better performance in each aspect including thermal resistance, better insulation quality, ultimate elongation of coating and high abrasion resistance and temperature endurance.
· On the basis of shape, the automotive magnet wire market is segmented into round magnet wire, rectangle magnet wire and square magnet wire. In 2021, round magnet wire segment holds the highest market share due to the maximum utilization of round wires by the motor manufacturers due to its low cost.
· On the basis of application, the automotive magnet wire market is segmented into motor, starter motor, braking, alternators, stability control, windows, door lock and seating and others. In 2021, motor segment dominates the application segment with the largest market share due to the growth in the transportation industry which overall enhances the usage of magnet wires.
· On the basis of distribution channel, the automotive magnet wire market is segmented into B2B, speciality stores, e-commerce, supermarkets/hypermarkets and others. In 2021, B2B segment accounts for the highest market share due to several factors such as on-time delivery performance, better quality assurance, a wide variety of technical and engineering support, better warranty and brand value.
· On the basis of end user, the automotive magnet wire market is segmented into passenger car, light commercial vehicle, heavy commercial vehicle and electric vehicle. In 2021, passenger car segment augments the market with the largest market share due to the increase in the number of passenger vehicles globally as compared to other vehicle types.
Global Automotive Magnet Wire Market Country Level Analysis
· The countries covered in the global automotive magnet wire market report are the U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Turkey, Switzerland, rest of Europe, China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Thailand, Malaysia, Singapore, Philippines, rest of Asia-Pacific, Saudi Arabia, South Africa, Israel, UAE, Egypt, rest of Middle East and Africa, Brazil, Argentina and rest of South America.
Competitive Landscape and Automotive Magnet Wire Market Share Analysis
· The automotive magnet wire market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to global automotive magnet wire market.
The major players covered in the global automotive magnet wire market report are
· MWS Wire Industries, Inc.,
· Rea, Superior Essex Inc.,
· Elektrisola Dr. Gerd Schildbach GmbH&Co.
· KG, Tongling Jingxun Special Enamelled Wire Co.,Ltd,
· Hitachi Metals, Ltd.,
· Sam Dong,
· Sumitomo Electric Industries, Ltd.,
· Fujikura Ltd.,
· LWW Group,
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MAJOR TOC OF THE REPORT
· INTRODUCTION
· MARKET SEGMENTATION
· EXECUTIVE SUMMARY
· PREMIUM INSIGHTS
· MARKET OVERVIEW
· QUESTIONNAIRE
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