Global Winding Wire Market 2017-2021
About Winding Wire
Winding wire or magnetic wire is a solid wire, which is insulated with varnish to enable closer winding while manufacturing electromagnetic coils. These wires are used instead of the conventional thick plastic or other insulation commonly used in electrical wires. Magnetic wires or winding wires are used for interchanging electrical energy with magnetic energy. The quality of wire being manufactured depends on its ductility along with the strong tension of the metal. Most metals used in the manufacturing of conventional wires include silver, platinum, copper, iron, gold, and aluminum.
Technavio’s analysts forecast the global winding wire market to grow at a CAGR of 4.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global winding wire market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Winding Wire Market 2017-2021
Technavio recognizes the following companies as the key players in the global winding wire market: ELSEWEDY ELECTRIC, General Cable Technologies, Sumitomo Electric Industries, and Superior Essex.
Other Prominent Vendors in the market are: FE Magnet Wire (Malaysia), G.K. Winding Wires, LWW Group, Polycab, Rea, SYNFLEX, and Vimlesh Industries.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rise in smart grid infrastructure. The economy, health and safety, and national security of any nation depend on the reliable delivery of electricity. The electricity grid is not just about power generation and transmission. It also includes an ecosystem of service providers, manufacturers, asset owners, and government officials at the local, state, and federal levels working together to run a reliable electrical grid. The development of smart grids across the globe is leading to the adoption of new metering technologies, better power protection measures, and use of efficient appliances.”
According to the report, one of the major drivers for this market is Growth in use of alternative energy sources. Growing environmental awareness is leading to the increase in investments in renewables. In 2015, despite the fluctuating exchange rates and fall in oil and gas prices, these investments witnessed growth. According to the Eurostat the production from renewables in the EU in 2015 was around 205 million toe (tonnes of oil equivalent), which was over 26% of the region's total primary energy production.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in raw material prices. The primary raw materials used in winding wires are copper and aluminum. All winding wire vendors incur a major part of their manufacturing cost on the acquisition of these raw materials. The cost of copper and aluminum metals account for roughly 50% of the total production cost. Volatility in the prices of aluminum and copper along with other necessary raw materials, including energy and fuel, lead to significant volatility in the cost of production for winding wire manufacturers.
ELSEWEDY ELECTRIC, General Cable Technologies, Sumitomo Electric Industries, Superior Essex, FE Magnet Wire (Malaysia), G.K. Winding Wires, LWW Group, Polycab, Rea, SYNFLEX, and Vimlesh Industries.
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