Global Wire Processing Machines Market 2017-2021
About Wire Processing Machines
The global market for wires and cables has witnessed a significant growth rate over the past few years, which in turn has influenced the wire processing machines market globally. The demand for these wires and cables is majorly driven by automotive and aerospace industries. These industries use an assembly of wires that transmits electrical signals; in addition, these wires are safeguarded from vehicle vibrations. Wire processing machines are mainly used to get the wire cut, stripped, crimped, marked, and welded for further manufacturing process.
Technavio’s analysts forecast the global wire processing machines market to grow at a CAGR of 9.10% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global wire processing machines market for 2017-2021. To calculate the market size, 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 Wire Processing Machines Market 2017-2021
Technavio recognizes the following companies as the key players in the global wire processing machines market: Schleuniger, Komax, Eraser, and Artos Engineering.
Other Prominent Vendors in the market are: Arno Fuchs, Carpenter Manufacturing Company, Cheers Electronic Technical, Dongguan City Code Zhen Machinery, Exmore, GLW, Iwiss Electric, KINGSING MACHINERY, KODERA, MAPLELEGEND, Metzner Maschinenbau, MK Electronics, ramatech systems, FRIEDHELM LOH GROUP (Rittal), Schäfer Group, Spectrum Technologies, TE Connectivity, WEZAG, Xiamen Hiprecise Technology, and Zhongshan Jinsheng Automation Machinery.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is use of automated processing machines in small RF and coax cables. Cell phones, tablets, global positioning system (GPS) devices, and other mobile electronic devices are smaller and powerful than ever and require high complex transmission mechanisms. To meet these requirements, ultra-miniature radio frequency (RF) cables have now become essential in mobile devices.”
According to the report, one driver in market is expansion and revamping of the T&D infrastructure in India. Power cables, a critical segment of the power sector, are witnessing an escalating demand owing to the growth in power generation infrastructure. India is one of the biggest consumers of electric energy after the US and China. With rapid industrialization and urbanization of the country, it is believed that there will be an enormous demand for electricity within the country. However, the overall generation capacity is unable to cater to the existing demand. Moreover, the transmission and distribution (T&D) infrastructure is quite old and needs extensive renovation. The exhibit below shows India’s power supply position for the year 2015-2016.
Further, the report states that one challenges in market is decline in oil rig count. Ethylene tetrafluoroethylene (ETFE) wires and cables are used in the oil and gas industry for down-hole applications; ETFE cables are used because they are highly conductive, strong, and can help in enhancing the tolerance of down-hole cables at high temperatures, pressures, and harsh chemical environments. However, at present, the plunge in the global oil and gas prices has caused the prices to fall by almost 40%-50% between 2014 and 2016. This limits the confidence for new investments in the industry, posing a serious challenge to the wire processing machines market. The rig count acts as a barometer for the oil and gas drilling industry and its suppliers worldwide. There has been an almost double-digit drop in the rig count between 2014 and 2015. This is an indicator of the weak demand for the equipment used in the oil and gas industry. Therefore, lower oil prices and reduced activities are challenges for the growth of the industry.
Schleuniger, Komax, Eraser, Artos Engineering, Arno Fuchs, Carpenter Manufacturing Company, Cheers Electronic Technical, Dongguan City Code Zhen Machinery, Exmore, GLW, Iwiss Electric, KINGSING MACHINERY, KODERA, MAPLELEGEND, Metzner Maschinenbau, MK Electronics, ramatech systems, FRIEDHELM LOH GROUP (Rittal), Schäfer Group, Spectrum Technologies, TE Connectivity, WEZAG, Xiamen Hiprecise Technology, and Zhongshan Jinsheng Automation Machinery.