USD 165.48 billion
Copper Wire Market Size, Share, Growth Analysis, By Type (Beryllium Copper wire, Copper Alloy wire), By End-User (Aerospace & Defense, Construction) By Region - Industry Forecast 2024-2031
Report ID:
SQSG15K2001 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
102
|Figures:
71
Copper Wire Market Insights
Copper Wire Market was valued at USD 165.48 billion in 2022 and is poised to grow from USD 175.41 billion in 2023 to USD 279.57 billion by 2031, growing at a CAGR of 6% during the forecast period (2024-2031).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Medium Voltage
Fastest Growth
Medium Voltage
Growth Rate
6% CAGR
Global Copper Wire Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Copper Wire Market Segmental Analysis
Global Copper Wire Market is segmented by Type, by End Use and by Region. Based on Type, the market is segmented into Beryllium Copper wire, Copper Alloy wire, Copper Clad Aluminium wire, Copper Clad Steel wire, Copper Nickel & Nickel Plated Copper wire, Oxygen-Free Highly Conductive Copper (OFHC) wire, Titanium Clad Copper wire. Based on End User, the market is segmented into Construction, Motors, Transformers & power generation, Aerospace & defence, Petrochemical and nuclear, medical industries. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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.
Global Copper Wire Market By Voltage type, 2021 (%)
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Copper Wire Market Regional Insights
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.
Global Copper Wire Market By Geography, 2021-2028
- Largest
- Fastest
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Copper Wire Market Dynamics
Copper Wire Market Driver
- An important aspect contributing to the market's expansion is the increase in expenditures made in the Transmission & Distribution (T&D) sector, which is responsible for efficiently delivering electricity to various electrical equipment at various stages of the network. When compared to the revised estimate of USD 6.59 billion (50,311.03 crores), the Indian government increased total investments by eight state-owned power companies, including REC Ltd, by more than 19 percent to USD 7.86 billion (59,990.52 crores) for 2021–22. This increase was primarily driven by the transmission and distribution sector.
Copper Wire Market Restraint
- Raw material price volatility will limit market expansion. Rubber and plastic-based substances like PVC grains are the main basic materials needed to make wires. Fluorine plastic and silicone rubber make up the majority of organic polymer materials, but copper is necessary for wires. The profit margin of the manufacturers of wires and cables is directly impacted by an increase in the price of raw materials, particularly copper, which limits market expansion.
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Copper Wire Market Competitive Landscape
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
- Prysmian Group
- Southwire Company
- Nexans
- Furukawa Electric Co., Ltd.
- Fujikura Ltd.
- Sumitomo Corporation
- Belden Inc
- LS Cable & System
- KEI Industries Ltd
- Cords Cable Industries Ltd.
- NKT A/S
- Amphenol
- Finolex Cables Ltd
- Polycab
Copper Wire Market Recent Developments
- In May 2021, The ECO CABLE label has officially launched, according to Prysmian Group. It is the first exclusive green product label in this sector and is anticipated to assist utilities and distributors in enhancing their value proposition and green supply chain.
- In April 2021, With Siemens Energy's assistance, Nexans completed the electrical Type Test for a 525 kV DC gas-insulated switchgear (GIS) sealing end in accordance with CIGRE TB 496. For a 525 kV DC XLPE cable system, Nexans created a specifically designed GIS cable sealing end.
Copper Wire Key Market Trends
- Data center and IT facility demand is growing, favoring market growth networking, communications, and IT services depend on data centres. The storing of data at data centres and the routing of traffic via them are essential functions. Data centres are currently in high demand as a result of the development of Big Data, and this need is being fueled in part by the Big Data phenomenon. In order to save money and avoid the trouble of operating data centres, which would cost billions of dollars, businesses have started favouring cloud storage. The necessity for wires would expand as the number of data centres increased in order to boost the availability, security, and reasonably priced connection of IT infrastructure.
Copper Wire Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 165.48 billion |
| Market size value in 2031 | USD 279.57 billion |
| Growth Rate | 6% |
| Base year | 2023 |
| 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 Copper 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 Copper 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 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 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.
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 Copper Wire Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
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