Winding Wire Market size to grow by USD 12.08 billion from 2021 to 2026, Driven by the expansion of power generation and T&D network - Technavio

NEW YORK, March 28, 2023 /PRNewswire/ -- The global winding wire market size is estimated to grow by USD 12.08 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 5.04% during the forecast period. One of the primary factors driving the global winding wire industry growth is the expansion of power generation and the T&D network. The generation of electricity is growing at a rapid pace in developing countries such as India and China. According to the NEA, in 2021, the total power use in China reached 8.31 trillion kilowatt-hours (kWh). The electric generators used in hydroelectric, thermal, and wind power plants usually require large quantities of winding wires. They are used in inverters that are placed in solar power plants to convert DC into AC and transform it into the correct primary voltage. UK Power Networks and National Grid Plc try to develop a smart grid with inbuilt flexibility to accept additional capacity from energy companies for local distribution. The US and Germany are estimated to invest approximately USD 135 billion in the development of the smart grid by 2026. For more insights on the forecast market size (2021 to 2026) - Request a sample report

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Winding Wire Market - Segmentation Assessment Segment Overview
Technavio has segmented the market based on the product (copper and aluminum) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

• The market share growth in the copper segment will be significant for the market growth during the forecast period. Copper is used extensively to produce winding wire, as it exhibits much better mechanical and electrical properties than aluminum. Copper winding also exhibits higher corrosion resistance than aluminum winding and requires less frequent inspection and maintenance. The high current carrying capacity of copper wires of a given diameter than that of equivalent aluminum wire will fuel the segment growth. 

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global winding wire market.

• APAC is estimated to account for 78% of the market growth during the forecast period. China and Japan are the key markets for winding wire in the region. Market growth in this region is estimated to be faster than the growth of the market in other regions. APAC is the biggest producer of products such as motors, transformers, and others used in power generation and T&D networks, process and discrete industries, residential and commercial equipment like air conditioners, speakers, and headphones, and automotive motors for subsystems and traction. This will facilitate the winding wire market growth in APAC during the forecast period. 

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Winding Wire Market – Market Dynamics

Leading trends influencing the market 

The rising focus on energy-efficient winding wires is one of the key winding wire market trends that is expected to impact the market positively in the forecast period. Winding wires are used in transformers, generators, and inductors for transformation from electrical energy to electrical energy, electrical energy to mechanical energy, and mechanical energy to electrical energy and a considerable amount of the energy is lost as heat energy in this transformation. Hence, vendors focus on increasing the efficiency of electrical equipment, such as motors and transformers, which is driving the demand for highly efficient winding wire, as it has the potential to reduce electrical energy consumption in a motor or transformer.  Hence, the growing focus on energy efficiency is expected to increase the demand for winding wires with high efficiency during the forecast period.

Major challenges hindering the market growth

A major challenge impeding the global winding wire market's growth is the high fragmentation of the market limits consistent increases in ASP.  A small-scale winding wire manufacturing facility can be set up at an investment of less than USD 1 million and thus numerous small vendors cater to the market in developing countries such as China and India. Small vendors operate in small workshops and do not use sophisticated manufacturing equipment and advanced testing systems. Therefore, the cost of manufacturing winding wire for such vendors is much lower than for key vendors. Moreover, the unrecognized vendors are not able to sell directly to OEMs, whereas workshops that repair motors and transformers usually purchase from unrecognized vendors to keep their service costs as low as possible or maximize profit. Therefore, high fragmentation of the market limits may limit the market growth during the forecast period.

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What are the key data covered in this Winding Wire Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the winding wire market between 2022 and 2026
• Precise estimation of the size of the winding wire market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the winding wire market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the winding wire market vendors

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Table of Contents     

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021 

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 24: Chart on Product - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product - Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Copper - Market size and forecast 2021-2026
• Exhibit 28: Chart on Copper - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Copper - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Copper - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Copper - Year-over-year growth 2021-2026 (%)

• 5.4 Aluminium - Market size and forecast 2021-2026
• Exhibit 32: Chart on Aluminium - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Aluminium - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Aluminium - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Aluminium - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Product 
• Exhibit 36: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 North America - Market size and forecast 2021-2026
• Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 Japan - Market size and forecast 2021-2026
• Exhibit 66: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.10 US - Market size and forecast 2021-2026
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.11 Germany - Market size and forecast 2021-2026
• Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.12 France - Market size and forecast 2021-2026
• Exhibit 78: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers 

• 8.2 Market challenges 

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends 

9 Vendor Landscape

• 9.1 Overview 

• 9.2 Vendor landscape 
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 EL Sewedy Electric Co. 
• Exhibit 89: EL Sewedy Electric Co. - Overview
• Exhibit 90: EL Sewedy Electric Co. - Product / Service
• Exhibit 91: EL Sewedy Electric Co. - Key offerings

• 10.4 Elcowire Group AB 
• Exhibit 92: Elcowire Group AB - Overview
• Exhibit 93: Elcowire Group AB - Product / Service
• Exhibit 94: Elcowire Group AB - Key offerings

• 10.5 Fujikura Co. Ltd. 
• Exhibit 95: Fujikura Co. Ltd. - Overview
• Exhibit 96: Fujikura Co. Ltd. - Business segments
• Exhibit 97: Fujikura Co. Ltd. - Key news
• Exhibit 98: Fujikura Co. Ltd. - Key offerings
• Exhibit 99: Fujikura Co. Ltd. - Segment focus

• 10.6 Furukawa Electric Co. Ltd. 
• Exhibit 100: Furukawa Electric Co. Ltd. - Overview
• Exhibit 101: Furukawa Electric Co. Ltd. - Business segments
• Exhibit 102: Furukawa Electric Co. Ltd. - Key offerings
• Exhibit 103: Furukawa Electric Co. Ltd. - Segment focus

• 10.7 Hitachi Ltd. 
• Exhibit 104: Hitachi Ltd. - Overview
• Exhibit 105: Hitachi Ltd. - Business segments
• Exhibit 106: Hitachi Ltd. - Key news
• Exhibit 107: Hitachi Ltd. - Key offerings
• Exhibit 108: Hitachi Ltd. - Segment focus

• 10.8 LS Cable and System Ltd. 
• Exhibit 109: LS Cable and System Ltd. - Overview
• Exhibit 110: LS Cable and System Ltd. - Product / Service
• Exhibit 111: LS Cable and System Ltd. - Key offerings

• 10.9 Prysmian Spa 
• Exhibit 112: Prysmian Spa - Overview
• Exhibit 113: Prysmian Spa - Business segments
• Exhibit 114: Prysmian Spa - Key offerings
• Exhibit 115: Prysmian Spa - Segment focus

• 10.10 REA MAGNET WIRE Co. 
• Exhibit 116: REA MAGNET WIRE Co. - Overview
• Exhibit 117: REA MAGNET WIRE Co. - Product / Service
• Exhibit 118: REA MAGNET WIRE Co. - Key offerings

• 10.11 Sam Dong America 
• Exhibit 119: Sam Dong America - Overview
• Exhibit 120: Sam Dong America - Product / Service
• Exhibit 121: Sam Dong America - Key offerings

• 10.12 Sumitomo Electric Industries Ltd.
• Exhibit 122: Sumitomo Electric Industries Ltd. - Overview
• Exhibit 123: Sumitomo Electric Industries Ltd. - Business segments
• Exhibit 124: Sumitomo Electric Industries Ltd. - Key news
• Exhibit 125: Sumitomo Electric Industries Ltd. - Key offerings
• Exhibit 126: Sumitomo Electric Industries Ltd. - Segment focus

11 Appendix

• 11.1 Scope of the report 

• 11.2 Inclusions and exclusions checklist
• Exhibit 127: Inclusions checklist
• Exhibit 128: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 129: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 130: Research methodology
• Exhibit 131: Validation techniques employed for market sizing
• Exhibit 132: Information sources

• 11.5 List of abbreviations 
• Exhibit 133: List of abbreviations 

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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