Magnet Wire Market

1. Magnet Wire Market to See Massive Growth by 2029 The global magnet wire market is anticipated to grow at a CAGR of around 4.9% during the forecast period (2022-2028). The automotive industry is expected to emerge as the fastest growing with huge application of magnet wire owing to its features possess by it such as insulation uniformity, good electric properties, resistance to mechanical stress, and resistance to chemicals. The greater performance offered for the automotive vehicle owing to the coating of the enamelled wire makes an automobile performance high by enhancing the malleability, temperature, and resistivity boosting the growth of the market. With significant automotive vehicle production especially in the Asia-Pacific region, the demand for magnet wire is increasing rapidly, thereby driving the market growth. As per India Brand Equity Foundation (IBEF), in January 2022, the total production of passenger vehicles, three-wheelers, two- wheelers, and quadricycles reached 1,860,809 units. Moreover, the automotive industry in India is expected to reach $300 billion by 2026, thereby expected to create huge demand for magnet wire To Request a Sample of our Report on Magnet Wire Market https://www.omrglobal.com/request-sample/magnet-wire-market Moreover, the market growth is also driven by the presence of prominent players that are contributing significantly to the growth. For instance, in August 2021, Essex Furukawa won a major EV project under which the company supplied 33,000 tons of high voltage winding wire (HVWW), specifically designed for 800V–applications. Moreover, in November 2019, Sumitomo Electric expanded its business by establishing a new company in China for the development & manufacturing of its rectangular magnet wire for electric vehicles. A full Report of Magnet Wire Market https://www.omrglobal.com/industry-reports/magnet-wire-market Market Coverage    The market number available for – 2021-2028 Base year- 2021 Forecast period- 2023-2029 Segment Covered-     By Type By Shape By End-User Industry By Application Regions Covered-      North America Europe Asia-Pacific Rest of the World Competitive Landscape- LS Cable & System Ltd., Tongling Jingda Special Magnet Wire Co., Ltd., Sumitomo Electric CO., Ltd., Hitachi Metals Ltd., and Samdong Co., Ltd. Key questions addressed by the report          What is the market growth rate? Which segment and region dominate the market in the base year? Which segment and region will project the fastest growth in the market? How COVID-19 impacted the market? Deviation from the pre-COVID-19 forecast Most affected region and segment Who is the leader in the market? How players are addressing challenges to sustain growth? Where is the investment opportunity? Global Magnet Wire Market Report by Segment    Global Magnet Wire Market by Type Copper magnet wire Aluminum magnet wire Global Magnet Wire Market by Shape    Round Rectangle Square Global Magnet Wire Market by End-use Industries       Electrical & Electronics Industrial Transportation Infrastructure Others

2. Global Magnet Wire Market by Application     Motor Home Appliances Transformer Others For More Customized Data, Request for Report Customization https://www.omrglobal.com/report-customization/magnet-wire-market About Orion Market Research Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. Media Contact Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +91 780-304-0404