USD 52.37 billion
Global Aluminum Wire Market Size, Share, Growth Analysis, By Application(Building & Construction, Automotive & Transportation), By Grade(Electrical, Mechanical), By End-user(Land-based casinos, and online casinos) - Industry Forecast 2024-2031
Report ID:
SQMIG15I2008 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
92 |
Figures:
76
Global Aluminum Wire Market Insights
Global Aluminum Wire Market size was valued at USD 52.37 billion in 2022 and is poised to grow from USD 54.10 billion in 2023 to USD 70.14 billion by 2031, growing at a CAGR of 3.3% in the forecast period (2024-2031).
The global aluminum wire market has exhibited consistent growth and plays a pivotal role in the electrical wire and cable sector. Aluminum wire demand is being driven by causes such as rising electricity demand, energy saving programs, building and infrastructure development, and the automotive and aerospace industries. Rising population across the world, urbanization, and industrialization have resulted in increased demand for electricity, making aluminum wire a favoured choice for power transmission and distribution systems because of its lightweight nature, superior conductivity, and low cost. Furthermore, aluminum wire improves energy efficiency by lowering energy losses during transmission. Aluminum wire is widely used in the construction industry for electrical wiring because of its excellent electrical conductivity and lightweight qualities. Furthermore, the automotive and aerospace sectors use aluminum wire in applications such as wiring harnesses, electrical components, and lightweight structural parts due to its lightweight qualities and better conductivity.
The aluminum wire market is also facing some issues. With its higher electrical performance, copper wire remains a daunting competitor to aluminum wire. The decreased mechanical strength of aluminum wire compared to copper wire creates difficulties during installation and handling. Compliance with high quality and safety standards, market fragmentation, and aluminum price volatility are all challenges for manufacturers. Despite these obstacles, the global aluminum wire market is likely to maintain its current development rate over the forecast period. Industry participants can overcome these obstacles by focusing on innovation, quality standards, and efficient supply chain management.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Electrical
Fastest Growth
Electrical
Growth Rate
3.3% CAGR
Global Aluminum Wire Market ($ Bn)
Country Share for Asia-Pacific Region (%)
Global Aluminum Wire Market By Grade ($ Bn)
Global Aluminum Wire Market By Grade (%)
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Global Aluminum Wire Market Segmental Analysis
The global aluminum wire market is segmented on the basis of application, grade, and region. By application, the market is segmented into Building & Construction, Automotive & Transportation, Electrical & Electronics, Telecommunication, Power & Energy, and others. In terms of segmentation by grade, the market is segmented into Electrical, Mechanical, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Application
- In 2022, power and energy had the significant and largest revenue share of the global market. Electrical distribution firms, which are in charge of power grid systems, make substantial use of these goods to carry electric current. Their lightweight nature helps to reduce grid load and enabling current to be sent over great distances, resulting in cost savings and quicker construction timeframes. This substance is essential in the automotive sectors and transportation industries for the production of vehicle batteries. It's also used in power distribution systems and harnesses. Manufacturers have increased their manufacturing capacity in response to rising demand from the automotive industry.
- Throughout the forecast period, the electrical and electronics segment is expected to expand in sales. This growth is mostly due to increased demand for electronic goods and infrastructure enhancements in power grids. Electronic appliances such as air conditioners, refrigerators, and heaters use coils composed of copper and aluminum wires, which drives the need for these materials.
Analysis By Grade
- The electrical segment dominated in terms of revenue and is predicted to maintain its position during the forecasting period. Aluminum alloys are available in a variety of grades, with the choice based on considerations such as specific qualities, end-use requirements, and conformity to standards and laws. The US National Electrical Code, for example, suggests using AA-8000 series electrical-grade aluminum alloy conductor material for building wire applications. Aluminum has been used in electrical applications since the early 1900s, and its popularity as a substitute for copper in electrical applications has developed as a result of its low cost, high electrical conductivity, and lightweight nature.
- Mechanical-grade aluminum is also an important market grade. Its flexibility and light weight make it an excellent choice for mechanical applications. It is most commonly utilized in the fabrication of wire mesh, which is widely employed in residential, commercial, and industrial contexts. Wire mesh is used in residential applications such as facades, ceilings, walls, and balustrades. Storage containers, safety barriers, security fences, animal-loading cages, pavement, precast panels, warehouse and industrial shed slabs, and floor gratings are all examples of their uses.
Global Aluminum Wire Market By Grade, 2023 (%)
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Global Aluminum Wire Market Regional Insights
Asia Pacific held the dominant position in the market, accounting for a share of over 75.0% of the global revenue. This can be attributed to several prominent factors, including increased investments in power grid infrastructure, the rise of renewable energy generation, growing electricity consumption, and substantial investments in the telecom and electric vehicle (EV) industries. These factors collectively contribute to the demand for aluminum wires in the Asia Pacific region.
The market in North America is projected to experience steady growth throughout the forecast period. This growth can be primarily attributed to the increasing requirements for electric power transmission, the production of electric vehicles, and the development of distribution infrastructures. Additionally, the region's growing construction spending is expected to further drive the demand for the industry in the coming years.
Global Aluminum Wire Market By Region, 2024-2031
- Largest
- Fastest
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Global Aluminum Wire Market Dynamics
Drivers
Industrial Ethernet is in Greater Demand
- The market is being driven by the increasing penetration of the Internet, and it is evident that the popularity of Internet connectivity across various industries will significantly contribute to the growing consumption of aluminum wires. The rising demand for Internet connectivity in nations worldwide will create numerous opportunities within the market, providing favorable conditions for its growth and development.
Restraints
Availability of Other Substitutes
- Copper wires, being a more cost-effective alternative to aluminum wires, are expected to hinder the market growth of aluminum wires in the future. Copper wires offer advantages such as excellent strength and ductility. They find extensive applications across various industries, and their affordability makes them the preferred choice in many sectors.
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Global Aluminum Wire Market Competitive Landscape
The global aluminum wire market features a competitive landscape characterized by various players vying for market share. These companies operate in the production, distribution, and supply of aluminum wires for diverse applications. The competition is driven by factors such as product quality, pricing strategies, technological advancements, and customer service. Market players focus on product innovation and development to gain a competitive edge. Additionally, strategic partnerships, collaborations, and mergers and acquisitions are common strategies employed by companies to expand their market presence and strengthen their position in the global aluminum wire market.
Top Player’s Company Profile
- Norsk Hydro ASA - Norway
- Rio Tinto Alcan Inc. - Canada
- Southwire Company, LLC - US
- General Cable Corporation - US
- Nexans - France
- Braidy Industries - US
- Vedanta Limited - India
- Aluminum Corporation of China Limited (Chalco) - China
- Kaiser Aluminum Corporation - US
- Furukawa Electric Co., Ltd. - Japan
- Vimetco N.V. - Netherlands
- MWS Wire Industries - US
- Minda Wire - India
- Apar Industries Ltd. - India
- Ducab - United Arab Emirates
- Hindalco Industries Limited - India
- Triveni Conductors Limited - India
- Hailiang Group - China
- Huta Group - Saudi Arabia
- Liljedahl Group - Sweden
Recent Developments
-
In March 2024, Ari, Fezzari’s shortened name, announced the launch of aluminum wire peak E-MTB, the Wire Peak. This aluminum full-power all-mountain/trail eBike is designed for a range of riders, from those getting into e-mountain bikes to those who are experienced riders looking to get the most out of their ride experience.
-
In August 2023, Godha Cabcon & Insulation Ltd announced that it has bagged a deal from Overseas Metal & Alloys Pvt. Ltd., worth approximately Rs. 566 million. This order comprises of vast quantities of materials including 4 core HT power cables and Aluminum ACSR Weasel Conductor of length 120 km each.
- In July 2023, Japan-based GBP Co., Ltd. launched new aluminum cables for PV systems. The company claims that the new product offers the advantage of being an antitheft solution, as aluminum costs significantly less than copper, and aluminum cables are less targeted by thieves than their copper counterparts.
Global Aluminum Wire Key Market Trends
- Lightweight and Cost-Effective Solution: Aluminum wire offers a lightweight alternative to copper wire, making it desirable for applications where weight reduction is important. Additionally, aluminum wire is often more cost-effective compared to copper wire, making it an attractive choice for budget-conscious consumers and industries.
- Growing Demand for Renewable Energy: The global shift towards renewable energy sources has resulted in an increased demand for aluminum wire. Aluminum is widely used in the manufacturing of wind turbines and solar panels due to its lightweight properties and corrosion resistance, making it a preferred material for transmitting electrical currents in renewable energy systems.
Global Aluminum Wire Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global aluminum wire market analysis, Asia Pacific has emerged as the dominant region, driven by investments in power grid infrastructure, renewable energy generation, increasing electricity consumption, and investments in the telecom and electric vehicle industries. The region's demand for aluminum wires is on the rise. Meanwhile, North America is the fastest-growing region in the global market. Besides this, factors such as the need for electric power transmission, growing electric vehicle production, and infrastructure development are contributing to the market's expansion. Additionally, the region's construction spending is expected to further drive the demand for aluminum wires. Overall, the global aluminum wire market is characterized by lightweight and cost-effective solutions, increasing adoption in various industries, advancements in manufacturing processes, and environmental considerations.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 52.37 billion |
| Market size value in 2031 | USD 70.14 billion |
| Growth Rate | 3.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aluminum Wire Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aluminum Wire Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aluminum Wire Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aluminum Wire Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aluminum Wire Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aluminum Wire Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aluminum Wire Market Report Snapshots
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