Aluminum Wire Market Analysis

Aluminum Wire Market Analysis

Enamelled round & rectangular aluminium wire market demand was valued at USD 25 billion in 2017. The product is majorly used in transformers owing to their light weight and heat resistance properties towards transformer oil. These products are mainly used as electrical conductor wherever coils are in motion which includes industrial equipment like refrigerating systems and generators is likely to foster product demand.
 

Paper insulated round & rectangular aluminum wire market size may register gains close to 3% over the forecast period. The products are oxygen free electrical wires which are drawn by certain size of mold in which every layer of paper twine conductor continually without getting any wrinkles. Superior properties of the products including resistance to abrasion and solvent, electricity performance, heat shock and rise the filling coefficient of the transformer will foster the product demand.
 

Fiber glass insulated round & rectangular aluminum wire market size may surpass USD 3 billion by 2024. The product provides efficient insulation in coil winders with higher thermal stability, electrical properties and resistance to abrasion. These are suitable for windings in electric motor stators, generators and in special transformers owing to their high degree of insulation.
 

Aluminum wire market size from automotive applications may be valued at over USD 2 billion at the end of 2024. These products are utilized in automotive wiring harness application as it reduces the vehicle weight by around 48%. It also improves flexibility and improves metal-to-metal contact between the terminal and the conductor which averts galvanic corrosion, which will propel product growth.
 

Aluminum wire market demand from circuit breakers, switches & meters application was witness growth at over 3% by 2024. These are used in many light bulbs and other connectors to improve quality of electrical applications and provide high voltage. Proper installation and choice of wire aid to prevent corrosion at connections.
 

Aluminium wire market demand from motors, rotating machine application may surpass USD 15 billion by 2024. These products are generally used in motors where the ratio of wire to iron is relatively low and are found in application where the motor runs irregularly, and efficiency is a major factor, which in turn stimulates the product demand.
 

North America, driven by Canada and the U.S. aluminum wire market size may register significant growth at over 3.5% by 2024. The products in construction industry are utilized for electricity transmission and distribution which is considered safe for building and home wiring with a shelf life of 40 years. These wiring exhibits high tensile strength and oxide film properties which act as a source for electrical connections, thereby driving the regional growth.
 

Europe aluminium wire market demand driven by Germany, UK, France, Italy and Netherlands was valued at over USD 10.5 billion in 2017. They are utilized in green building concept as the products are applied in on building facades, roofing systems, curtain walling and in window frames as it provides insulation and allows daylight & fresh air into buildings, thereby stimulating the product demand.
 

Asia Pacific driven by India, Japan, China aluminium wire market size may register significant gains at 3.5% by the end of foreseeable timeframe. These are used in various construction application which includes wiring systems owing to its high strength, durability and less risk of breakage coupled with cost cutting and weight saving properties, which in turn stimulate regional demand.