Enameled Wire
- Enameled Aluminum Wire
- Enameled Copper Wire
- Copper Strips
- Aluminum Foils
- Paper Covered Wire
- Other Special Enameled Wire
Services
- Corona-resistant enameled wire
- Film Enameled Wire
- Kapton Magnet wire
- Continuously Transposed Conductor
- Fiberglass covered wire
- Paper Wrapped Insulated Winding Wire
- Aluminum Foils
- Transformer Copper Foils
- AWG SWG Enameled Aluminum Wire
- AWG SWG Enameled Copper Wire
Contact
- Zhengzhou LP Industry CO.LTD
- E-mail: office@cnlpzz.com
- Mobile: +86-18103865695
- whatsapp:+86-19337889070
- Tel: +86-371-65861282
- Fax: +86-371-65861123
- Address: No. 86, Jingsan Road, Jinshui Zone, Zhengzhou , Henan Pro. China.
Magnet Wire Market Trends
This section covers the major market trends shaping the Magnet Wire Market :
Rising Demand for Magnet Wire in the Transportation Sector
Today’s hybrid and electric vehicles are significantly dependent on magnet wire for functioning as a magnet wire is an important component of motors used in these vehicles. Magnet wire is also employed in busbars and charging stations. Lately, the demand for electric vehicles has gained an astonishingly steep rise with dawning awareness among consumers and the inclination of governments of several economies under environmental concerns.
The associated energy efficiency, expediting construction of charging infrastructure, and increasing consumer purchasing power in many regions of the world have contributed to the widening of the market size of electric vehicles, in turn strengthening the demand fundamentals of magnet wire.
Augmenting electric vehicle market, and the rising adoption of magnet wire in respective applications, are among the key factors driving the growth of the target industry. For instance, According to the stats generated by The Electric Vehicle World Sales Database, the sale of electric vehicles registered a remarkable hike of 109% in 2021 from the year 2020 with Tesla, a renowned electric vehicle manufacturer, accounting for the highest share of 14%.
In December 2021, Toyota revealed that the company will be launching as many as 30 electric vehicles by 2025. The lineup will include SUVs, sports cars, crossovers, and concepts.
In September 2021, Ford announced its commitment to spending USD 11.4 billion on electrifying its vehicle line-up of trucks and cars on the new manufacturing sites of Tennessee and Kentucky.
In July 2021, Mercedes Benz laid out its intentions to go completely electric towards the end of the decade. The company will be launching three electric-only architectures in 2025.
Electric vehicles predominantly use copper-based magnet wire. According to Copper Development Association Inc., the demand for copper in electric vehicles is expected to see a rise of 1,700 kilotons by 2027.
Thus, with the growing electric vehicle launch and sales, the demand for magnet wire will also significantly increase.
Therefore, considering the aforementioned factors, the demand for magnet wire is expected to rise in the transportation industry significantly in near future.
Rising Demand for Magnet Wire in the Transportation Sector
Today’s hybrid and electric vehicles are significantly dependent on magnet wire for functioning as a magnet wire is an important component of motors used in these vehicles. Magnet wire is also employed in busbars and charging stations. Lately, the demand for electric vehicles has gained an astonishingly steep rise with dawning awareness among consumers and the inclination of governments of several economies under environmental concerns.
The associated energy efficiency, expediting construction of charging infrastructure, and increasing consumer purchasing power in many regions of the world have contributed to the widening of the market size of electric vehicles, in turn strengthening the demand fundamentals of magnet wire.
Augmenting electric vehicle market, and the rising adoption of magnet wire in respective applications, are among the key factors driving the growth of the target industry. For instance, According to the stats generated by The Electric Vehicle World Sales Database, the sale of electric vehicles registered a remarkable hike of 109% in 2021 from the year 2020 with Tesla, a renowned electric vehicle manufacturer, accounting for the highest share of 14%.
In December 2021, Toyota revealed that the company will be launching as many as 30 electric vehicles by 2025. The lineup will include SUVs, sports cars, crossovers, and concepts.
In September 2021, Ford announced its commitment to spending USD 11.4 billion on electrifying its vehicle line-up of trucks and cars on the new manufacturing sites of Tennessee and Kentucky.
In July 2021, Mercedes Benz laid out its intentions to go completely electric towards the end of the decade. The company will be launching three electric-only architectures in 2025.
Electric vehicles predominantly use copper-based magnet wire. According to Copper Development Association Inc., the demand for copper in electric vehicles is expected to see a rise of 1,700 kilotons by 2027.
Thus, with the growing electric vehicle launch and sales, the demand for magnet wire will also significantly increase.
Therefore, considering the aforementioned factors, the demand for magnet wire is expected to rise in the transportation industry significantly in near future.
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