Press release
Wire Rod Market could be worth US$ 1,965.21 million by 2028, Says Premium Market Insights
The wire rod market is expected to grow from US$ 1,621.27 million in 2022 to US$ 1,965.21 million by 2028; it is estimated to register a CAGR of 3.3% from 2023 to 2028.Wire Rod Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Copper and Aluminum) and Industry (Telecommunication, Power, Aviation, Automotive, and Others)Get PDF Sample Report + All Related Table and Graphs @: https://www.premiummarketinsights.com/sample/TIP00073775?utm_source=OpenPR&utm_medium=10823
Competitive Landscape: Wire Rod Market:
Strong economic conditions in North America, Asia Pacific, and the Middle East & Africa witness a rise in construction buildings. Europe witnessed a slightly subdued growth in the construction activity, supported by a developed construction sector in various countries that allowed better residential and infrastructural spending. According to the Oxford Economics/Haver Analytics data of contribution to global construction growth 2020-2030, China, India, and the US are among the major contributors to residential construction activities. According to Marsh LLC data, residential construction activity grew rapidly in 2021, with a growth rate of 7.1%. Also, the residential sector accounted for 44% of total global construction in 2020, making it the largest subsector. In construction activities, wire rods are needed for various purposes such as conducting electricity, data, voice communication, and security. Thus, the growing construction activities are increasing the demand for wire rods, thereby driving the wire rod market growth.Wire rods are used for high-voltage overhead transmission lines. They also help to connect power grids with various end users, including industrial, residential, and commercial buildings. Forinsatnce, in APAC region, investment in the power & energy sector is increasing due to the rising demand for electricity. For instance, in February 2023, the Government of India approved the investment of US$ 3.9 billion (Rs. 319 billion) for the 2,880-megawatt Dibang project, a hydropower project in Arunachal Pradesh, India. Similarly, in September 2022, the New South Wales government approved EnergyConnect, the country's biggest transmission project. This project is expected to provide cheaper renewable energy to the power grid. Hence, the growing investment in the power sector is likely to boost the growth of the wire rod market in APAC during the forecast period.
Mitsubishi Materials Trading Corp
APAR Industries Ltd
Hindalco Industries Ltd
Norsk Hydro ASA
Leebo Metals Pvt Ltd
Sumitomo Electric Industries Ltd
Vedanta Aluminium and Power Ltd
United Co RUSAL Plc
Vimetco NV
Cunext Copper Industries SL
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Chapter Details of Wire Rod Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Wire Rod Market Landscape
Part 04: Wire Rod Market Sizing
Part 05: Wire Rod Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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