USD 165.48 Billion
Report ID: SQSG15K2001 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 102 | Figures: 71
Copper Wire Market was valued at USD 165.48 Billion in 2021, and it is expected to reach a value of USD 263.74 Billion by 2028, at a CAGR of 6.0% over the forecast period (2022-2028).
The best electrical conductor is copper wire, which is superior to all other materials. Connections are made quickly and safely with copper wire. They have a high melting point and are easy to bend. A copper wire can withstand significant overloads or current surges without suffering harm. Different varieties of copper wire all have the ability to conduct electricity with nominal resistance and low voltage. Being bendable is one of copper's most significant qualities. Copper can be fabricated into thin sheets thanks to its property. Without being stressed or broken, it might become distorted.
Excellent thermal and electrical conductivity define copper. Rusting and corrosion are caused by environmental changes, which copper can tolerate. Copper is more ductile and has a better tensile resistance than aluminium, and it has good corrosion resistance, heat transfer strength, and conductivity. The copper wire market is driven by these factors. Copper is more durable and needs less upkeep. Copper is able to endure fluid pressures found in sizable air conditioning systems. Due to these benefits over other metals, copper has experienced substantial growth, which has increased its use in electrical productivity.
Copper is more ductile and has a better tensile resistance than aluminium, and it has good corrosion resistance, heat transfer strength, and conductivity. The copper wire market is driven by these factors. Copper is more durable and needs less upkeep. Copper is able to endure fluid pressures found in sizable air conditioning systems. Due to these benefits over other metals, copper has experienced substantial growth, which has increased its use in electrical productivity.
US Copper Wire Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 165.48 Billion
To get more reports on the above market click here to Buy The Report
Global copper wire market is segmented based on the voltage, end-user and region. Based on the voltage, the market is segmented as low voltage, medium voltage, high voltage, extra-high voltage. Based on application, the market is segmented as aerospace & defense, construction, IT & telecommunication, power transmission and distribution, oil & gas, consumer electronics, manufacturing, automotive. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Copper Wire Market Analysis by Voltage
Based on voltage, the market is divided into low, medium, high, and extra-high voltage segments. Due to the widespread use of low voltage wires in infrastructures, automation, lighting, sound and security, and video surveillance, among other applications, the low voltage segment commands the majority of the wires market share. Due to its growing use in commercial buildings, hospitals, colleges & institutions, mobile substation equipment, and other locations, the medium voltage segment is anticipated to have the second-largest share.
In order to connect residential and industrial complexes, renewable energy sources like wind and solar farms, or high voltage mains power supplies to low voltage applications and utility companies, medium voltage wires are frequently utilised. Due to increased government measures to expand the grid, the high voltage segment also sees a rise in market share. It is preferred for utility and commercial applications that need the transmission and distribution of power. Extra-high voltage is primarily utilised in power transmission utilities, as well as a wide range of other industries, including water, airports, railroads, steel, renewable energy, nuclear and thermal power plants, and other manufacturing sectors.
Copper Wire Market Analysis by End-User
The market is divided into categories for aerospace and defence, building and construction, IT and telecommunication, power transmission and distribution, oil and gas, consumer electronics, manufacturing, automobiles, and others based on the end-user. Different market segments are then further divided into different divisions. Due to an increase in electrical applications in residential and commercial buildings, demand from the construction sector is rising. Due to rising investment in grid expansion projects during the projected period, the power transmission and distribution industry is anticipated to account for a sizable share.
The industry of IT and telecommunications is anticipated to expand significantly as a result of the rising need for data centres and construction cables for information transmission. The use of high voltage electricity, automation, VFD, control, instrumentation, and fibre optic cables in oil and gas operations is supporting this sector. Due to a variety of military ground vehicles, shielding and protective covering, airframe point-to-point wiring, and other high-current applications, the aerospace and defence sector is driving the demand for wires and cables.
To get detailed analysis on other segments, Request For Sample Report
The market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa based on geography. Due to its rapid development and growing use in electronics products, Asia Pacific now holds the largest share of the global copper wire market. Strong growth is predicted for North America. The substantial demand for copper wire in the construction sector for the distribution and transmission of power might be linked to this rise. Due to its use in the car sector, Europe holds a significant portion of this market. Copper wire is used in automobiles to lighten the vehicle and increase fuel efficiency. Copper is essential to the comfort, safety, efficiency, and design of automobiles. Due to its many uses, copper has become an essential part of automobiles. The markets in Latin America and the Middle East are smaller than others and have had slow growth.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Copper Wire Market Driver
Copper Wire Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The global market has been boosted by an increase in agreements and contracts among key players. With several competitors offering a wide range of products at both local and global levels along the whole value chain, the market is currently highly fragmented. The global, regional, and national levels all see active participation from cable manufacturing enterprises. The major participants in the market at the moment are Prysmian Group, Southwire Company, KEI Industries, Sumitomo Corporation, and Nexans, who are reshaping the competitive landscape with a variety of product offerings.
Copper Wire Market Top Player's Company Profiles
Copper Wire Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the need for copper wires is further fueled by an increase in the use of copper wires in smart homes' heating, ventilation, and air conditioning (HVAC) systems, electronic entertainment gadgets, lighting solutions, etc. Additionally, as environmental worries about excessive carbon emissions grow, older electricity transmission and distribution systems are being upgraded, which increases the need for copper wires. Additionally, the increasing requirement for grid interconnections and the growing number of power producing units are fueling demand for overhead, underground, and submarine installations.
|Market size value in 2021||USD 165.48 Billion|
|Market size value in 2028||USD 263.74 Billion|
|Forecast Unit (Value)||USD Billion|
|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)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Copper 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 Copper 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Copper Wire Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Copper 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.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQSG15K2001