Aluminum wires are used in electrical wiring of houses, cars, electronics, and airplanes and among others. According to research study, Aluminum Wire Market size was valued at USD 55.9 billion in 2020 and is anticipated to reach USD 81.2 billion by 2030 with the CAGR of 3.80% over the forecast period. Some of the benefit offered by the aluminum wires are light weight, anti-oxidation, anti-corrosion, and among others are responsible for the increase the growth of the market. The increasing aluminum wire trend is due to fibre glass, enamelled, nomex and paper insulated in varies segment of industry are also responsible for the aluminum wire market growth.
Market Segmentation:
The global aluminum wire market is segmented as follows: On the basis of product the market is classified into fiber glass insulated, enameled, paper insulated, nomex insulated, mica insulated, and cotton insulated. Furthermore, based on applications the market is categorized into home electrical appliances, automobile, circuit breakers, switches & meters, motors, and transformers. Moreover, by geography it is divided into North America, Asia Pacific, Europe, and RoW.
Market Dynamics and Factors:
Rising demand of aluminum in multiple types of industries is the major factor for the aluminum wire market growth. Some of the industries that contribute to the growth of the market are construction, electrical distribution, communication, broadcast network, and among others. Having higher risk of house fire as compared to other types of wire copper is one of the restraining factor for the aluminum wire market growth. Furthermore, the increase growth of automotive industries will generate large requirement of aluminum wire requirements which will act as an immense opportunity for the growth of the aluminum wire market. The increasing growth of copper wire industry can act as a challenge for the growth of the aluminum wire market.
Geographic Analysis:
North America is the global revenue generator and is expected to continue in the coming future. According to research study, the North America market is anticipated to grow with a CAGR of 5.1% during the forecast period. Some of the factors contributing to the growth of the market are having large number of manufacturing industries like automotive, communication, aerospace, electronics, electrical and among others. The second dominating region is Europe and according to research study, the market is expected to grow by a CAGR of 4.3% during the forecast timeline. Some of the factors resulting to the growth of the aluminum wire market are uses in construction of building roofing systems, facades, curtain walling, and window frames, and others.
Competitive Scenario:
The key players operating in aluminum wire industry are:
Kaiser Aluminium, Baotou Aluminium, Southwire Company LLC, Southern Cable, Ducab, NSSMC Group, NSSMC Group, POSCO, Shagang Group, Shagang Group, JFE Holdings, Shougang Group, Tata Steel, and others.
Aluminum Wire Market Report Scope
| Report Attribute | Details |
| Analysis Period | 2020–2030 |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Market Size Estimation | Billion (USD) |
| Growth Rate (CAGR%) | 3.8 % |
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| by Product (Fiber Glass Insulated, Nomex Insulated, Enameled, Paper Insulated, Mica Insulated, and Cotton Insulated), by Applications (Home Electrical Appliances, Automobile, Circuit Breakers, Switches & Meters, Motors, and Transformers) |
| Geographical Segmentation | North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), South America (Brazil, Argentina, Rest of SA), MEA (UAE, Saudi Arabia, South Africa) |
| Key Companies Profiled | Kaiser Aluminium, Baotou Aluminium, Southwire Company LLC, Southern Cable, Ducab, NSSMC Group, NSSMC Group, POSCO, Shagang Group, Shagang Group, JFE Holdings, Shougang Group, Tata Steel, and others. |
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