Global Coil Wound Devices Market Outlook and Growth Stance Forecasted Through 2025

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Global Market Study on Coil Wound Devices: Industrial Machinery & Equipment End Use Sector to Hold over 40% Value Share in the Global Market by 2025” offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Coil Wound Devices market have been elaborated upon in the research report.

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Urbanization and increasing consumption key factors driving the global coil wound devices market

Increasing per capita consumption in emerging countries has led to an increasing demand for efficient coil wound devices for various industries such as automotive, food and beverages, pharmaceuticals, and agriculture, among others. This, in turn, has increased the shipment of electronic devices, and appliances which in turn has been a driving factor for the global coil wound devices market. As of 2014, the urban population accounted for 54% of the total population globally and is expected to further increase at a healthy pace. Substantial growth in the service and manufacturing sectors has led to a healthy growth in GDP worldwide. This, in turn, has had a positive impact on the global spending on smartphones, thereby eventually impacting the demand for coil wound devices. Global GDP is projected to register a steady growth during the forecast period owing to higher rate of industrialization in emerging economies such as Asia Pacific. Moreover, increasing adoption of coil wound devices in the automotive sector is anticipated to fuel the demand in near future.

Aging power infrastructure in United States is driving the market for coil wound devices

Advancement and replacement of aging power infrastructure in the U.S. is one of the key factors driving the coil wound devices demand in North America. The aging electricity infrastructure will require new technologies to enable better failure detection. Traditional systems do not meet many emerging trends, such as growing penetration of distributed generation resources and need for greater resilience. The new transmission technologies combine power electronic devices with capacitors and inductors to provide a range of controlling capabilities for transmission and distribution systems. The demand for coil wound devices, especially transformers, is anticipated to witness a notable growth as they are important components that are used for carrying out electric grid transition from traditional designs to the designs of future in the coming years.

Negative impact on alternative energy sources due to U.S. government policies

In 2017, the U.S. government decided to withdraw from the 2015 Paris Climate Agreement. This step is likely to cause solar and wind deployment rate to move slowly, ultimately slowing down the ongoing transition to renewable energy. The pace of renewables growth will also be affected by numerous separate policy decisions, including the Clean Power Plan, Investment Tax Credit and Production Tax Credit for renewables and by the addition or reduction of restrictions on fossil fuel production and consumption. It is anticipated that these steps will negatively impact passive components demand, devoted to developing environment-friendly technologies for alternative energy. However, the impact is expected to remain minimal, largely offset by other driving forces.

As per the data provided by Persistence Market Research, the transportation segment in the end-use sector was estimated to be valued at nearly US$ 18,200 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 27,900 Mn in 2025, exhibiting a CAGR of 5.5% during the period of assessment 2017-2025. The medical devices segment in the end-use sector was estimated to be valued at nearly US$ 9,000 Mn in 2017 and is forecasted to reach a valuation of nearly US$ 14,200 Mn in 2025, displaying a CAGR of 5.8% during the period of forecast.

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A detailed and up-to-date research methodology results in accuracy

Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies in the global coil wound devices market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the global coil wound devices market. 

Market Taxonomy

By Application

Electrical Motors
DC motors
AC motors
Transformers
Low Voltage
Medium Voltage
High Voltage
Valves & Actuators
Switches, Contactors & Relays
Other Electrical Devices
By Device Type

Sensors
Bobbins
Electromagnetic Coils
Solenoids
Lightning Coil
By End Use Sector

Transportation
Automotive
Railways
Marine
Aerospace
Industrial Machinery & Equipment
Medical Devices
Mining

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This release was published on openPR.