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Coil Wound Devices Market Slated to Bring in US$ 119,050 Mn by End of 2025
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Increasing Demand for Custom Coil Devices in North America Expected to Boost Market Revenue Growth
The North America region is expected to witness a demand for custom coils with nonstandard shapes, close tolerances and other unique characteristics, as demanded by end users. In terms of design, the manufacturers will have to experiment with a variety of various magnetic and nonmagnetic materials to gain competitive advantage in the market. As a result, manufacturers will have to create coils that perfectly match with the specified designs and meet the highest standards of quality. Adding to this, the demand for custom electromagnetic coils that deliver optimum performance in transformers, electric motors, semiconductors, medical devices, as air coil inductors, etc. is also anticipated grow in the coming years.
Global Coil Wound Devices Market: Segmentation and Forecast
The global coil wound devices market is segmented on the basis of application, device type, end-use sector and region.
By application, the electrical motor segment is forecasted to reach a valuation of nearly US$ 78,700 Mn in 2025, displaying a CAGR of 5.5% during 2017-2025.
By device type, the sensors segment was estimated to be valued at nearly US$ 14,200 Mn in 2017 and is anticipated to register a CAGR of 6.2% during the period of assessment.
By end-use sector, the industrial machinery and equipment segment was valued at about US$ 32,300 Mn in 2017 and is expected to reach a valuation of nearly US$ 51,520 Mn in 2025.
By region, the Asia Pacific coil wound devices market is likely to reach a valuation of nearly US$ 57,500 Mn by 2025, exhibiting a CAGR of 6.9% during the period of forecast.
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Global Coil Wound Devices Market: Competitive Landscape
The report profiles some of the top companies operating in the global coil wound devices market such as ABB, Honeywell International Inc., Parker Hannifin Corporation, Danaher Corporation, SIEMENS AG, Magnet-Schultz of America Inc., Murata Manufacturing Co. Ltd., Emerson, Schneider Electric, TDK Corporation, Asco Valve, Hubbell Industrial Controls, Standex Electronics, Amtek Switch, Baldor Electric, TE Connectivity, Regal Beloit and Taiwan Shulin Enterprise Co., Ltd.
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