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After reaching a value of USD 50.9 bn in 2022, the global market for aluminum wire is expected to expand at a CAGR of 4.3% from USD 52.39 bn in 2023 to USD 67.97 bn by 2030.
The global market for aluminum wire is a growing sector of the electrical wire and cable business. The rising need for electricity, energy efficiency measures, construction and infrastructure development, and the automobile and aerospace industries all contribute to the high demand for aluminum wire. Aluminum wire is widely used in power transmission and distribution because to its light weight, high conductivity, and low cost in response to the increasing demand for energy caused by the growing world population, urbanization, and industrialisation. Aluminum wire also helps with energy efficiency since it decreases transmission losses. Aluminum wire's strong electrical conductivity and lightweight qualities have made it widely used in the construction sector for electrical wiring. Wiring harnesses, electrical components, and lightweight structural pieces are just some of the many uses for aluminum wire in the automotive and aerospace sectors due to its small weight and high conductivity.
There are problems in the aluminum wire industry as well. Even if aluminum wire has improved in recent years, copper wire is still a formidable rival due to its higher electrical performance. The installation and handling of aluminum wire are complicated by the wire's weaker mechanical strength compared to copper wire. Manufacturers also face challenges related to adhering to demanding quality and safety regulations, a fragmented market, and the high price volatility of aluminum. The global market for aluminum wire is predicted to keep expanding, despite these obstacles, over the forecast period. Focusing on innovation, quality assurance, and supply chain efficiency can help industry participants meet these difficulties.
Evaluation Through Use
In 2022, the worldwide market was led by the power and energy sector. Companies who are responsible for distributing electricity over a wide area use these devices widely. Because of their low weight, they help lighten the burden on the grid and make long-distance electricity transmission possible, both of which cut down on expenses and construction time. This substance is critical in the production of car batteries, which is an important part of the automotive and transportation industries. It is also used in electrical harnesses and distribution networks. Manufacturers have increased output in response to rising demand from the automobile sector.
Revenue from the electrical and electronics sector is expected to rise at a steady clip during the predicted horizon. The rising need for electronic products and improvements to power networks are the primary drivers of this expansion. The demand for copper and aluminum wires is fueled by their use in the coils of electronic equipment including air conditioners, refrigerators, and heaters.
Grading Analysis
The electrical sector took a disproportionately large part of total income in 2015, and this trend is anticipated to continue into the projected period. Grades of aluminum alloys are chosen based on criteria such as desired qualities, application, and compliance with standards and regulations. The AA-8000 family of electrical-grade aluminum alloy conductor material is recommended for use in building wire applications, for instance, by the U.S. National Electrical Code. Aluminum has been used in electrical applications since the early 1900s, and it has since replaced more expensive metals like copper due to its low weight, high conductivity, and low cost.
Mechanical-grade aluminum is another popular option. Because of its malleability and moderate weight, it finds widespread use in mechanical design. Wire mesh, in particular, has many applications in different types of buildings, including homes, businesses, and factories. Wire meshes are commonly used in the construction of residential roofs, walls, and balustrades. Storage containers, safety barriers, security fences, animal-loading cages, asphalt, precast panels, slabs for warehouses and industrial sheds, and floor gratings are just some of the many uses for these versatile structures.
Drivers
The need for Industrial Ethernet is growing.
The proliferation of Internet connections in businesses is a key factor propelling the industry, and it stands to reason that this trend will also boost the demand for aluminum wires. The market is expected to expand and flourish as a result of the increasing need for Internet access in countries around the world.
Restraints
Alternatives That Can Be Used
As a more affordable option, copper wires are likely to slow the expansion of the aluminum wires industry in the future. Copper wires have many benefits, including high strength and malleability. They have many uses in several fields, and their low cost makes them the go-to option in many markets.
Report Coverage
Global Aluminum Wire research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Aluminum Wire report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Aluminum Wire competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Aluminum Wire market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Aluminum Wire market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Aluminum Wire market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Norsk Hydro ASA - Norway, Rio Tinto Alcan Inc. - Canada, Southwire Company, LLC - US, General Cable Corporation - US, Nexans - France, Braidy Industries - US, Vedanta Limited - India, Aluminum Corporation of China Limited (Chalco) - China, Kaiser Aluminum Corporation - US, Furukawa Electric Co., Ltd. - Japan, Vimetco N.V. - Netherlands, MWS Wire Industries - US, Minda Wire - India, Apar Industries Ltd. - India, Ducab - United Arab Emirates, Hindalco Industries Limited - India, Triveni Conductors Limited - India, Hailiang Group - China, Huta Group - Saudi Arabia, Liljedahl Group - Sweden
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Aluminum Wire market based on the below-mentioned segments:
Global Aluminum Wire Market, By Grade
Electrical
Mechanical
Others
Global Aluminum Wire market, By Application
Building & Construction
Automotive & Transportation
Electrical & Electronics
Telecommunication
Power & Energy
Others
Global Aluminum Wire Market, By End User
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Global Aluminum Wire market, Regional Analysis
The global market for aluminum wire is a growing sector of the electrical wire and cable business. The rising need for electricity, energy efficiency measures, construction and infrastructure development, and the automobile and aerospace industries all contribute to the high demand for aluminum wire. Aluminum wire is widely used in power transmission and distribution because to its light weight, high conductivity, and low cost in response to the increasing demand for energy caused by the growing world population, urbanization, and industrialisation. Aluminum wire also helps with energy efficiency since it decreases transmission losses. Aluminum wire's strong electrical conductivity and lightweight qualities have made it widely used in the construction sector for electrical wiring. Wiring harnesses, electrical components, and lightweight structural pieces are just some of the many uses for aluminum wire in the automotive and aerospace sectors due to its small weight and high conductivity.
There are problems in the aluminum wire industry as well. Even if aluminum wire has improved in recent years, copper wire is still a formidable rival due to its higher electrical performance. The installation and handling of aluminum wire are complicated by the wire's weaker mechanical strength compared to copper wire. Manufacturers also face challenges related to adhering to demanding quality and safety regulations, a fragmented market, and the high price volatility of aluminum. The global market for aluminum wire is predicted to keep expanding, despite these obstacles, over the forecast period. Focusing on innovation, quality assurance, and supply chain efficiency can help industry participants meet these difficulties.
Evaluation Through Use
In 2022, the worldwide market was led by the power and energy sector. Companies who are responsible for distributing electricity over a wide area use these devices widely. Because of their low weight, they help lighten the burden on the grid and make long-distance electricity transmission possible, both of which cut down on expenses and construction time. This substance is critical in the production of car batteries, which is an important part of the automotive and transportation industries. It is also used in electrical harnesses and distribution networks. Manufacturers have increased output in response to rising demand from the automobile sector.
Revenue from the electrical and electronics sector is expected to rise at a steady clip during the predicted horizon. The rising need for electronic products and improvements to power networks are the primary drivers of this expansion. The demand for copper and aluminum wires is fueled by their use in the coils of electronic equipment including air conditioners, refrigerators, and heaters.
Grading Analysis
The electrical sector took a disproportionately large part of total income in 2015, and this trend is anticipated to continue into the projected period. Grades of aluminum alloys are chosen based on criteria such as desired qualities, application, and compliance with standards and regulations. The AA-8000 family of electrical-grade aluminum alloy conductor material is recommended for use in building wire applications, for instance, by the U.S. National Electrical Code. Aluminum has been used in electrical applications since the early 1900s, and it has since replaced more expensive metals like copper due to its low weight, high conductivity, and low cost.
Mechanical-grade aluminum is another popular option. Because of its malleability and moderate weight, it finds widespread use in mechanical design. Wire mesh, in particular, has many applications in different types of buildings, including homes, businesses, and factories. Wire meshes are commonly used in the construction of residential roofs, walls, and balustrades. Storage containers, safety barriers, security fences, animal-loading cages, asphalt, precast panels, slabs for warehouses and industrial sheds, and floor gratings are just some of the many uses for these versatile structures.
Drivers
The need for Industrial Ethernet is growing.
The proliferation of Internet connections in businesses is a key factor propelling the industry, and it stands to reason that this trend will also boost the demand for aluminum wires. The market is expected to expand and flourish as a result of the increasing need for Internet access in countries around the world.
Restraints
Alternatives That Can Be Used
As a more affordable option, copper wires are likely to slow the expansion of the aluminum wires industry in the future. Copper wires have many benefits, including high strength and malleability. They have many uses in several fields, and their low cost makes them the go-to option in many markets.
Report Coverage
Global Aluminum Wire research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Aluminum Wire report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Aluminum Wire competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Aluminum Wire market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Norsk Hydro ASA - Norway, Rio Tinto Alcan Inc. - Canada, Southwire Company, LLC - US, General Cable Corporation - US, Nexans - France, Braidy Industries - US, Vedanta Limited - India, Aluminum Corporation of China Limited (Chalco) - China, Kaiser Aluminum Corporation - US, Furukawa Electric Co., Ltd. - Japan, Vimetco N.V. - Netherlands, MWS Wire Industries - US, Minda Wire - India, Apar Industries Ltd. - India, Ducab - United Arab Emirates, Hindalco Industries Limited - India, Triveni Conductors Limited - India, Hailiang Group - China, Huta Group - Saudi Arabia, Liljedahl Group - Sweden |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Aluminum Wire Market from 2021 to 2030.
- Market Forecast for Aluminum Wire Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Aluminum Wire competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Aluminum Wire
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Aluminum Wire market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Aluminum Wire market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Norsk Hydro ASA - Norway, Rio Tinto Alcan Inc. - Canada, Southwire Company, LLC - US, General Cable Corporation - US, Nexans - France, Braidy Industries - US, Vedanta Limited - India, Aluminum Corporation of China Limited (Chalco) - China, Kaiser Aluminum Corporation - US, Furukawa Electric Co., Ltd. - Japan, Vimetco N.V. - Netherlands, MWS Wire Industries - US, Minda Wire - India, Apar Industries Ltd. - India, Ducab - United Arab Emirates, Hindalco Industries Limited - India, Triveni Conductors Limited - India, Hailiang Group - China, Huta Group - Saudi Arabia, Liljedahl Group - Sweden
Primary Target Market
- Market Players of Aluminum Wire
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Aluminum Wire market based on the below-mentioned segments:
Global Aluminum Wire Market, By Grade
Electrical
Mechanical
Others
Global Aluminum Wire market, By Application
Building & Construction
Automotive & Transportation
Electrical & Electronics
Telecommunication
Power & Energy
Others
Global Aluminum Wire Market, By End User
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Global Aluminum Wire market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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