The global flat enameled wires market size is expected to gain momentum backed by the growing demand for transformers and the increasing adoption of lightweight materials that is propelling the demand for advanced flat enameled wires globally. This information is published by Fortune Business Insights, in its upcoming report, titled, “Flat Enameled Wires Market Size, Share & Industry Analysis, By Type (Copper, Copper Alloy, Copper Cad Aluminum), By Application (Transformer, Motor, Filters, Others) and Regional Forecast, 2021-2028.”
The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in resumption of industrial activities.
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Fortune Business Insights™ lists out a few of the renowned companies present in the flat enameled wires market. They are as follows:
- Mitsubishi Electric Wire Co., Ltd
- Jiateng Electric (Zhangzhou) Co., Ltd.
- Shanghai Yayang Electric Co., Ltd.
- Furukawa Electric
- Dazhan Wire & Cable Co., Ltd
- Guangdong Rongsheng Super Micro Wire Co., Ltd.
- Jiangmen Jianghai Xianghui Electrical Material Co., Ltd.
Flat enameled wires are generally rectangular-shaped wires that have been produced by either electric aluminum strip or oxygen-free copper strip. These wires have unique beneficial properties such as efficient working in high temperatures, resistance to abrasion, superior chemical resistance, and high flexibility of the enamel, among others. Owing to such excellent properties, they are extensively adopted for military, aviation, and marine application across the globe.
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The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing Demand for Transformers to Augment Growth
The rapidly growing population rate and the surging industrialization activities has led to the high demand for electricity globally. Several machines and electrical appliances are manufactured to utilize specific frequency and voltage. A slight increase in voltage can lead to power outage that can further cause significant economic loss. Therefore, to prevent this, transformers are installed across several power grids and the growing demand for transformers boosts the adoption for advanced flat enameled wires. Moreover, the flat enameled wires are lightweight and offer better chemical and electrical resistance compared to copper wires that is expected to contribute to the global flat enameled wires market growth in the forthcoming years.
- Copper Alloy
- Copper Cad Aluminum
- North America (U.S., and Canada)
- Europe (UK, Germany, France, Italy, and Rest of Europe)
- Asia Pacific (Japan, China, India, South Korea, Taiwan, and Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, and Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)
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Presence of Major Manufacturers in Asia-Pacific to Promote Growth
Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global flat enameled wires market in the forthcoming years. This dominance is attributable to the presence of established manufacturers that are actively focusing on introducing advanced flat enameled wires in the region.
The market in Europe is expected to showcase substantial growth backed by the growing adoption of heavy machines such as motors, and generators, among others by the automotive sector in the region between 2020 and 2027.
Key Players Focus on Facility Expansion to Strengthen Their Market Positions
The global flat enameled wires market is consolidated by major companies that are focusing on expanding their facilities to cater to the growing demand for advanced flat enameled wires across several industrial applications. Moreover, other key players are adopting strategies such as partnership, merger and acquisition, and collaboration that will contribute to the market growth.
- December 2017 – Essex Furukawa Magnet Wire unveiled its new manufacturing facility located in Arolsen, Germany. The company aims to develop innovative flat enameled wires that are coated with resin to cater to the high demand form the automotive industry.
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