We are a professional supplier and manufacturer of enameled wire solutions, of which copper magnet wire is our main product. According to recent news, you can see some information about the magnet wire market trends.
The global magnet wire market accounted for US$28.44 billion in 2018 and is expected to reach US$47.25 billion by 2027, with a compound annual growth rate of 5.8% during the forecast period. Factors such as high demand in the power sector and the growth of the electric vehicle market are driving market growth. However, the shift to compact motors has limited market growth.
Magnet wire or enameled wire is copper or aluminum wire coated with a very thin insulating layer. It is used to build transformers, inductors, motors, generators, speakers, hard drive head actuators, electromagnets, electric guitar pickups, and other applications that require tightly insulated coils. The product is used to exchange magnetic energy and electrical energy, and has rectangular, square and circular cross-sections.
According to the application, due to the growth of the transportation industry, it is expected that there will be huge demand in the motor field during the forecast period. The consumption of magnet wires in motor applications is increasing rapidly in the automotive field. From the perspective of geographic distribution, due to the vigorous development of the transportation and electrical and electronic industries, the Asia-Pacific region will achieve considerable growth during the forecast period.
For more information about our magnet wire products and services, please contact us immediately.