The Automotive Magnet Wire Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Automotive Magnet Wire Market:
https://www.thebusinessresearchcompany.com/report/automotive-magnet-wire-global-market-report
According to The Business Research Company’s Automotive Magnet Wire Global
Market Report 2024, The automotive magnet wire market size is expected to see
strong growth in the next few years. It will grow to $6.25 billion in 2028 at a
compound annual growth rate (CAGR) of 5.8%.
The growth in the forecast period can be attributed to increasing
penetration toward renewable energy, growing utilization of magnet wires in
home appliances, increasing use of electrical and electronic items, numerous
benefits associated with magnet wire, and increasing higher temperature
resistance. Major trends in the forecast period include trend towards smaller
and more efficient electronic devices, technological advancements, thin
insulation technologies, advancements in automotive electronics, and
innovations in magnet wire materials.
The expansion of electric vehicles is expected to propel the growth of the
automotive magnet wire market going forward. An electric vehicle (EV) is a car
that runs on electricity from rechargeable batteries instead of gasoline or
diesel, producing no emissions from the exhaust, and can be charged with
renewable energy such as solar or wind power, making them more eco-friendly as
more people seek sustainable transportation. The rising sales of electric
vehicles can be attributed to several factors, such as low maintenance costs,
zero tailpipe emissions, attractive incentives, and the convenience of home
charging. Automotive magnet wire is essential for the efficient, reliable, and
durable operation of electric vehicle motors, contributing significantly to
EVs' overall performance and appeal. For instance, in October 2023, according
to a report published by the International Energy Agency, a France-based
autonomous intergovernmental organization, nearly 66,000 electric buses, and
60,000 medium- and heavy-duty trucks were sold globally in 2022, accounting for
approximately 4.5% of total bus sales and 1.2% of truck sales worldwide. Also,
the market share of electric trucks in China rose from 1.5% in 2021 to 3.9% in
2022, indicating a substantial increase within one year. Therefore, the growth
and expansion of electric vehicles drive the automotive magnet wire.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=17083&type=smp
The automotive magnet wire market covered in this report is segmented –
1) By Type: Copper Wire, Aluminium Wire
2) By Material: Polyamide-Imide (PAI), Polyimides (PI), Polyetherimide (PEI),
Polyether Ether Ketone (PEEK)
3) By Application: Motor, Starter Motor, Braking, Alternators, Stability
Control, Windows, Door Lock, Seating, Other Applications
4) By End User: Passenger Car, Light Commercial Vehicle, Heavy Commercial
Vehicle, Electric Vehicle
Major companies operating in the automotive magnet wire market are developing
innovative products such as polyetheretherketone (PEEK) extrusion compounds
designed especially for copper magnet wire insulation in electric motors to
improve thermal performance, enhance electrical insulation properties, and
increase durability under high-stress conditions. Polyetheretherketone (PEEK)
extrusion compound is a high-performance thermoplastic material known for its
excellent mechanical properties, chemical resistance, and thermal stability.
For instance, in May 2023, Solvay, a Belgium-based company that manufactures
polymers, launched KetaSpire KT-857, a new polyetheretherketone (PEEK)
extrusion compound explicitly designed for copper magnet wire insulation in
electric motors. The new magnet wire PEEK insulation material provides better
adhesion to the copper magnet wire, surpassing the challenges faced by standard
PEEK extrusion methods.
The automotive magnet wire market report table of contents includes:
1. Executive Summary
2.
Automotive Magnet Wire Market Characteristics
3.
Automotive Magnet Wire Market Trends And Strategies
4.
Automotive Magnet Wire Market - Macro Economic Scenario
5. Global
Automotive Magnet Wire Market Size and Growth
.
32. Global
Automotive Magnet Wire Market Competitive Benchmarking
33. Global
Automotive Magnet Wire Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Automotive Magnet Wire Market
35.
Automotive Magnet Wire Market Future Outlook and Potential Analysis
36.
Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model:
https://www.thebusinessresearchcompany.com/global-market-model
No comments:
Post a Comment