Press release
U.S. Copper Clad Steel Wire Market Future Trends Top Key Players, Segments and Forecast to 2024 - 2031 | Copperhead Industries, LLC, American Wire Group
U.S. Copper Clad Steel Wire Market
The U.S. copper clad steel wire market is estimated to be valued at USD 2,704.2 Mn in 2024 and is expected to reach USD 3,348.4 Mn by 2031, growing at a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031.
Market Dynamics:
Growing construction activities in the U.S. is a major factor driving demand for copper clad steel wire in the country. Copper clad steel wire is widely used as grounding and bonding conductor in construction of residential and commercial buildings. Moreover, ongoing infrastructure development projects especially in telecommunication and power sectors will further augment the market growth during the forecast period. The market is also expected to gain from rising investments in 5G network infrastructure roll out. Copper clad steel wire is preferred over bare copper conductor for grounding systems owing to its lower material cost and equal conductivity.
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Driver: Increased Infrastructure Development Projects in the United States is Driving Demand for Copper Clad Steel Wire
One of the key drivers boosting the growth of the U.S. copper clad steel wire market is the rising infrastructure development activities across various sectors such as transportation, energy, and construction. The U.S. government has been making significant investments towards upgrading the country's aging infrastructure. For example, in 2021, the Biden administration approved a $1 trillion bipartisan infrastructure bill to rebuild roads, bridges and transit lines. This is expected to drive the demand for copper clad steel wire which is used for making conductors in power transmission and distribution systems. Moreover, increasing investments in renewable energy projects including solar and wind farms will also contribute towards the growing consumption of copper clad steel wire in the country.
Opportunity: Emergence of High-Efficiency HTS Conductors Presents Lucrative Growth Prospects
One of the major opportunities for manufacturers in the U.S. copper clad steel wire market is the emergence and commercialization of high-temperature superconducting (HTS) conductors. HTS conductors have several advantages over conventional conductors such as lower resistive losses, greater power transmission capacity and ability to reduce line congestion. This makes them attractive for upgrading aging transmission grids. Many power utilities in the U.S. have started pilot projects and feasibility studies involving HTS conductors and wider commercial adoption is expected in the coming years. The development of HTS technology will open up new growth avenues for market participants as production of HTS wires also requires cladding of a superconducting material over a steel core. This can boost the consumption of copper clad steel wires and associated manufacturing processes.
Trend: Manufacturers are Developing Advanced Coating Technologies to Enhance Conductor Performance
A key trend being witnessed in the U.S. copper clad steel wire market is manufacturers focusing on developing advanced coating technologies. Traditional methods involve direct copper coating over steel wires. However, research is ongoing to apply barrier layers between copper and steel using novel materials. For instance, gold or silver based barrier layers are being developed to prevent diffusion between copper and steel even at high operating temperatures. This improves longevity and corrosion resistance. Some manufacturers are also working on composite coatings that can maintain electrical conductivity while offering superior adhesion and protection characteristics. Continuous innovations in coating formulations and processes will allow production of more durable and efficient copper clad steel conductors. This in turn will strengthen the competitive positions of market players.
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Top Companies Featured in This Report:
β Copperhead Industries LLC
β American Wire Group Inc.
β Nehring Electrical Works Company
β Kris-Tech Wire
β MWS Wire Industries Inc.
β AFL
β LEONI Wire Inc.
β Fisk Alloy Inc.
β Elecref Industries Inc.
Market Segmentation:
By Product Type:
β By Product Type: Copperclad Dead Soft Annealed (DSA) Steel Wire , Copperclad Jacketed Steel Wire , Copperclad Composite Conductors (CCC) , Copperclad Wire-High Strength (HS) , and Others
β By End-Use Industry: Telecommunication , Power Generation , Electrical and Electronics , Building and Construction , Automotive , and Others (Aerospace, etc.)
Key Regions/Countries Classified as Follows:
Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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Report Highlights:
π Examination of navigation keyword market share at both country and regional levels
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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