How Copper Magnet Wire Market Will Dominate In Coming Years? Key Players: Altana AG, Superior Essex Inc., TE Connectivity, Salzer Electronics Limited, Schwering & Hasse Elektrodraht GmbH, Strunk Connect GmbH & Co. KG, Tongling Jingda Special Electromagnet

Constantly rising energy demand will be the key factor driving the global copper magnet wire market size during the forecast period. According to the International Energy Agency (IEA), worldwide energy demand grew by 2.3% in 2018 as a result of the heightened pace of global economic development. Furthermore, the demand for electricity rose by 4% in 2018, as per IEA estimates. The IEA states that this is the fastest growth in demand for power since 2010. As a result, there has been an exponential rise in the number of installations of power generation and distribution facilities, especially in developing economies. Copper magnet wires, being good conductors of electricity, play a vital role in maintaining the health and smooth functioning of power generation systems such as transformers and as economies expand, power infrastructure will get more advanced, thereby fueling the demand for these wires. The copper magnet wire market trends also indicate a spike in copper magnet wires uptake as number of solar and wind energy installations increase worldwide.

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Fortune Business Insights, in its report, titled "Copper Magnet Wire Market Size, Share and Global Trend By Type (Round, Rectangular), By Application (Motors, Transformers, HVAC Systems, Electronic Appliances, Others), By End-User (Residential, Commercial, Industrial) and Geography Forecast till 2026", provides a macroscopic overview of the general industry trends and outlook that will impact the market. Additionally, the report contains a microscopic analysis of the different factors, drivers, and other dynamics that will influence the development of the market during the forecast period.

Some of the prominent participants in this market include:
o Schwering & Hasse Elektrodraht GmbH
o Ormiston Wire Limited
o Superior Essex Inc.
o Wuxi Xizhou Magnet Wires Co., Ltd
o Salzer Electronics Limited
o Hi-Wire Limited
o Hitachi Metals Ltd
o Altana AG
o Tongling Jingda Special Electromagnetic Wire Co., Ltd
o Shibata Co.

Key Market Driver - Growth of the electronics and telecommunication industry

Key Market Restraint - Non economic cost of the copper magnet wire

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Proven Benefits of Copper Magnet Wires to Spur Adoption

Magnet wires are essentially wires used to wind electrical equipment to interchange electric energy with magnetic energy. Those made from copper possess a wide basket of benefits that are enhancing their saleability quotient. For example, these wires have excellent conduction properties such as insulation resistance and dielectric strength that make them the ideal candidate for transmission of electricity. They are highly resistant to solvents and chemicals, mechanical stresses, water and moisture, and heat. Lastly, copper magnet wires are able to remain stable when they come in contact with insulating material. These inherent features are even more pronounced in round copper magnet wires, widening their areas of applicability and aiding the growth of the magnet wire market in the process.

Rapid Evolution of Power Generation Technology to Propel the Market in North America

North America is projected to lead the copper magnet wire market share owing to escalating rate of solar PV and wind energy installations in the region. In Europe, growth is expected to be steady resulting from high demand for semiconductors and an evolving electronics industry in the region. Rising power demand from developing economies of Brazil, Argentina, and Mexico will bode well for the market in Latin America. Asia-Pacific will also go through an exciting phase of high growth as disposable incomes rise in China and India along with fast-growing renewable energy industry in the region. Increasing focus on clean energy-based power generation in the Middle East and Africa will enable the regions to exhibit healthy growth rate in the magnet wire market during the forecast period.

Innovative Fervour Among Players to Foster Intense Competition

The competitive landscape of this market is expected to be dotted by companies striving to develop novel products, the copper magnet wire market forecast by Fortune Business Insights shows. This will be done by competitors to tighten their hold on the market through product diversification.

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Key industry developments:
o March 2018: Furukawa Electric led the Powertrain Category of the 2017 Magna Innovation Award for its high-voltage rectangular magnet wire. The product was a result of the joint venture company, Essex Furukawa Magnet Wire Europe GmbH, started by Japan-based Furukawa Electric and US-based Superior Essex.

o May 2019: Essex Magnet Wire launched its high-temperature rated insulation system called EnduroTemp 260+ for winding needs of traction motors used in hybrid electric as well as fully electric vehicles.

Key Segmental Overview:
1. By Type
o Round
o Rectangular
2. By Application
o Motors
o Transformers
o HVAC Systems
o Electronic Appliances
o Others
3. By End-User
o Residential
o Commercial
o Industrial
o Power Generation
o Electronic Equipment
o Automobile
o Others
4. By Geography
o North America (the USA and Canada)
o Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
o Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
o Latin America (Brazil, Mexico, and Rest of Latin America)
o Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

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Major Table of Content For Copper Magnet Wire Market:
1. Introduction
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Copper Magnet Wire Market Analysis, Insights and Forecast, 2026
6. North America Copper Magnet Wire Market Analysis, Insights and Forecast, 2026
7. Europe Copper Magnet Wire Market Analysis, Insights and Forecast, 2026
8. Asia Pacific Copper Magnet Wire Market Analysis, Insights and Forecast, 2026
9. Middle East and Africa Copper Magnet Wire Market Analysis, Insights and Forecast, 2026
10. Latin America Copper Magnet Wire Market Analysis, Insights and Forecast, 2026
11. Competitive Landscape
12. Company Profile
13. Conclusion

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