Copper Wire Market
NEW YORK, July 27, 2023 /PRNewswire/ -- The copper wire market size is set to grow by USD 44.9 billion from 2022 to 2027. However, the growth momentum will progress at a CAGR of 5.8% during the forecast period, according to Technavio. The copper wire market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Alan Wire Co., Aviva Metals Inc., Belden Inc., CommScope Holding Co. Inc., Elcowire Group AB, Finolex Cables Ltd., Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Hindalco Industries Ltd., Hitachi Ltd., International Wire Group Inc., Mitsubishi Materials Corp., Nexans SA, Ningbo Jintian Copper Group Co. Ltd., Proterial Cable America Inc., Prysmian Spa, Schneider Electric SE, Southwire Co. LLC, Sumitomo Electric Industries Ltd., and Tongling Jingda Special Magnet Wire Co. Ltd. are some of the major market participants -. To know about the vendor offerings - Request a sample report
Copper Wire Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The copper wire market report covers the following areas:
Copper Wire Market Size
Copper Wire Market Trends
Copper Wire Market Industry Analysis
Porter's Five Forces Analysis
The copper wire market is fragmented, and the degree of fragmentation will accelerate. The growing communication and electrical and electronics industries will offer immense growth opportunities. However, the strict air quality standards for copper smelters will hamper the market growth.
Copper Wire Market 2023-2027: Drivers & Challenges
The growing communication and electrical and electronics industries are major factors notably driving the market growth. Copper wires find diverse applications in communication, electrical, and electronics industries, including domestic subscriber lines, local area networks, mobile phones, transformers, connectors, and various electronic gadgets. Their heat-sink properties and high efficiency make them a preferred choice for circuits in microprocessors. Additionally, they are widely utilized in power cables for medium- and low-voltage applications due to their excellent electrical conductivity. The surge in demand for electronic products in developing economies has further fueled the need for copper wires. As a result, the increasing demand for consumer and industrial electronic products is expected to drive significant growth in the global copper wire market during the forecast period.
The increasing number of renewable energy installations is an emerging trend shaping market growth. The widespread use of copper wires in the renewable energy industry, making electrical components and in solar panels, hydroelectric motors, geothermal heat pumps, transformers, and electric cables, contributes to the growth of the global copper wire market. Copper wires are preferred for high-energy efficiency applications due to their superior conductivity compared to aluminum. Moreover, their cost-effectiveness makes them a popular choice for manufacturing components, thereby reducing the overall cost of installations in solar and wind power systems. With increasing applications in the renewable energy sector, the global copper wire market is expected to witness significant growth during the forecast period.
Growing fluctuations in copper prices are a major challenge hindering market growth. Various factors, including supply and demand dynamics, global economic conditions, geopolitical events, and investor sentiment, exert a significant influence on copper prices, leading to price fluctuations and impacting the cost and demand for copper wire in various industries. As copper prices rise, the cost of copper wire also increases, potentially affecting construction projects with higher expenses and potential delays or modifications. Since copper wire plays a crucial role in electrical and electronic equipment production, builders and contractors may explore alternatives or cost-saving measures, like substituting copper wire with other materials or revising project plans, which can further impact the demand for copper wire. Consequently, these factors are anticipated to significantly hinder the global copper wire market during the forecast period.
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Copper Wire Market 2023-2027: Segment Analysis
Copper Wire Market 2023-2027: Segmentation Highlights
This report extensively covers market segmentation by application (electrical and electronics, building and construction, telecommunication, transportation, and others), type (low voltage, medium voltage, and high voltage), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
The electrical and electronics segment will account for a major share of the market's growth during the forecast period. Copper wires are widely favored in electrical and electronic applications due to their essential properties, including thermal and electrical conductivity, ductility, abrasion resistance, high mechanical strength, and biofouling resistance. These attributes make copper wires a preferred choice for various applications in the electrical and electronic industries. The use of high copper alloys and copper beryllium is prevalent in manufacturing wires for such applications. The growth of the electrical and electronics industry is propelled by factors like increasing disposable income, the availability of affordable electronic gadgets, and government initiatives aimed at developing energy conservation technologies. Additionally, the expansion of the Internet and broadband services, along with the rising demand for high-performance electrical components from sectors like defense, aerospace, and homeland security, are further driving the growth of the electrical and electronics segment. Consequently, these factors are expected to have a significant impact on the global copper wire market during the forecast period.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report
Copper Wire Market 2023-2027: Key Highlights
CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist copper wire market growth during the next five years
Estimation of the copper wire market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the copper wire market across APAC, North America, Europe, Middle East and Africa, and South America
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of copper wire market vendors
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The copper products market size is estimated to grow at a CAGR of 5.36% between 2022 and 2027. The market size is forecast to increase by USD 59.34 billion. This report extensively covers market segmentation by application (building and construction, electrical and electronic products, industrial machinery, transportation, and others), product (copper wire, copper pipes and tubes, copper foil, copper sheet, and others), and (APAC, North America, Europe, South America, and Middle East and Africa). The growing communication and electrical and electronics industries are driving growth in the copper products market.
The copper alloy wire market share is expected to increase by USD 18.16 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.21%. This report extensively covers market segmentation by application (electrical and electronics, construction, automotive, and others) and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The growing communication and electrical and electronics industries are one of the major drivers impacting the market growth.
Copper Wire Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.8%
Market growth 2023-2027
USD 44.9 billion
YoY growth 2022-2023 (%)
APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution
APAC at 71%
US, China, Japan, Germany, and France
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Alan Wire Co., Aviva Metals Inc., Belden Inc., CommScope Holding Co. Inc., Elcowire Group AB, Finolex Cables Ltd., Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Hindalco Industries Ltd., Hitachi Ltd., International Wire Group Inc., Mitsubishi Materials Corp., Nexans SA, Ningbo Jintian Copper Group Co. Ltd., Proterial Cable America Inc., Prysmian Spa, Schneider Electric SE, Southwire Co. LLC, Sumitomo Electric Industries Ltd., and Tongling Jingda Special Magnet Wire Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global copper wire market 2017 - 2021
4.2 Application Segment Analysis 2017 - 2021
4.3 Type Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Application
6.1 Market segments
6.2 Comparison by Application
6.3 Electrical and electronics - Market size and forecast 2022-2027
6.4 Building and construction - Market size and forecast 2022-2027
6.5 Telecommunication - Market size and forecast 2022-2027
6.6 Transportation - Market size and forecast 2022-2027
6.7 Others - Market size and forecast 2022-2027
6.8 Market opportunity by Application
7 Market Segmentation by Type
7.1 Market segments
7.2 Comparison by Type
7.3 Low voltage - Market size and forecast 2022-2027
7.4 Medium voltage - Market size and forecast 2022-2027
7.5 High voltage - Market size and forecast 2022-2027
7.6 Market opportunity by Type
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
9.4 North America - Market size and forecast 2022-2027
9.5 Europe - Market size and forecast 2022-2027
9.6 Middle East and Africa - Market size and forecast 2022-2027
9.7 South America - Market size and forecast 2022-2027
9.8 China - Market size and forecast 2022-2027
9.9 Japan - Market size and forecast 2022-2027
9.10 US - Market size and forecast 2022-2027
9.11 Germany - Market size and forecast 2022-2027
9.12 France - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Alan Wire Co.
12.4 Aviva Metals Inc.
12.5 Belden Inc.
12.6 CommScope Holding Co. Inc.
12.7 Furukawa Electric Co. Ltd.
12.8 Hindalco Industries Ltd.
12.9 Hitachi Ltd.
12.10 International Wire Group Inc.
12.11 Mitsubishi Materials Corp.
12.12 Nexans SA
12.13 Ningbo Jintian Copper Group Co. Ltd.
12.14 Proterial Cable America Inc.
12.15 Prysmian Spa
12.16 Southwire Co. LLC
12.17 Sumitomo Electric Industries Ltd.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com
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