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Global Aluminum Wire Market to reach USD 73.41 billion by the end of 2029

Global Aluminum Wire Market Size study & Forecast, by Type (Enameled Paper, Insulated, Fiber Glass Insulated, Nomex Insulated, Mica Insulated, Cotton Insulated) By Application Automobile, Circuit Breakers, Switches and Meters, Home Electrical Appliances, Motors, Transformers) and Regional Analysis, 2022-2029

Product Code: CMAM-45266252
Publish Date: 10-04-2023
Page: 200

Global Aluminum Wire Market is valued at approximately USD 56.62 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.3 % over the forecast period 2022-2029. Aluminum Wire is a common material used in the construction of electrical wires. It is cheaper and lighter than copper wiring, almost half the price. The Aluminum Wire market is expanding because of factors such as rising demand for aluminum wires in automotive industries and increasing consumption of electricity.

According to the Statista, by 2030, some 570 pounds of aluminum are expected to be used per light vehicle in North America. The content of aluminum per vehicle in North America is anticipated to grow at a compound annual growth rate of around 3.5 percent between 1975 and 2030. Furthermore, the global automotive manufacturing market was worth about 2.86 trillion U.S. dollars in 2021. The market is projected to grow to some 2.95 trillion U.S. dollars in 2022. Another important component driving space is increasing consumption of electricity Iceland is by far the largest per capita consumer of electricity worldwide, averaging 52.98 megawatt-hours per person in 2021. In addition, China consumes by the most amount of electricity in the world, with more than 7.8 terawatt-hours consumed in 2021. The United States ranked as the second-leading electricity consumer, with nearly 4,000 terawatt hours followed by India with 1.4 terawatt hours in consumption. However, usage of copper as a substitute stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Aluminum Wire Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the space in terms of revenue, owing to the increase in construction spending and infrastructure development projects. According to Statista, the value of real estate investments in the Asia-Pacific region was estimated at approximately 140.5 billion U.S. dollars in 2021 a significant increase from 2020, when it amounted to 108 billion U.S. dollars. North America is expected to grow significantly during the forecast period, owing to factors such as Increasing demand for advanced home solutions and electrical fittings in the market space.

Major market player included in this report are:

General Cable Technologies Corporation
Southwire Company, LLC
Nexans S.A
REA Group Ltd
Sam Dong America
HongFan Holdings
Norsk Hydro ASA
Vedanta Resources Limited
Vimetco NV
LWW Group

Recent Developments in the Market:
 In January 2020, Southwire announced Closure of Hayesville Plant, and the manufacturing of the wire and cable products currently made in Hayesville would be moved to other Southwire plants in order to ensure the proper alignment for making the best use of facilities and best meet the needs of our customers.

 In Dec 2022, Hydro investing in the green transition and Norwegian aluminum plants. Hydro is investing in new technology to produce low-carbon aluminium and initiated projects worth NOK 3 billion at the Karmøy, Husnes, Høyanger, Årdal and Sunndal aluminium plants. This investment at plant will help Hydro take a leading role in climate efficient aluminium solutions through continued industrial development and initiatives driving the green transition.

Global Aluminium Wire Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Enameled Paper Insulated
Fiber Glass Insulated
Nomex Insulated
Mica Insulated
Cotton Insulated

By Application:
Circuit Breakers
Switches and Meters
Home Electrical Appliances

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Aluminum Wire Market, by Region, 2019-2029 (USD Billion)
1.2.2. Aluminum Wire Market, by Type, 2019-2029 (USD Billion)
1.2.3. Aluminum Wire Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Aluminum Wire Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Aluminum Wire Market Dynamics
3.1. Aluminum Wire Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising demand for aluminium wires in automotive industries Increasing consumption of electricity
3.1.2. Market Challenges Copper can act as a substitute in place of Aluminium.
3.1.3. Market Opportunities Increasing demand for advanced home solutions

Chapter 4. Global Aluminum Wire Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Aluminum Wire Market, by Type
6.1. Market Snapshot
6.2. Global Aluminum Wire Market by Type, Performance – Potential Analysis
6.3. Global Aluminum Wire Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Aluminum Wire Market, Sub Segment Analysis
6.4.1. Enameled Paper Insulated
6.4.2. Fiber Glass Insulated
6.4.3. Nomex Insulated
6.4.4. Mica Insulated
6.4.5. Cotton Insulated
Chapter 7. Global Aluminum Wire Market, by Application
7.1. Market Snapshot
7.2. Global Aluminum Wire Market by Application, Performance – Potential Analysis
7.3. Global Aluminum Wire Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Aluminum Wire Market, Sub Segment Analysis
7.4.1. Automobile
7.4.2. Circuit Breakers
7.4.3. Switches and Meters
7.4.4. Home Electrical Appliances
7.4.5. Motors
7.4.6. Transformers
Chapter 8. Global Aluminum Wire Market, Regional Analysis
8.1. Aluminum Wire Market, Regional Market Snapshot
8.2. North America Aluminum Wire Market
8.2.1. U.S. Aluminum Wire Market Type breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Aluminum Wire Market
8.3. Europe Aluminum Wire Market Snapshot
8.3.1. U.K. Aluminum Wire Market
8.3.2. Germany Aluminum Wire Market
8.3.3. France Aluminum Wire Market
8.3.4. Spain Aluminum Wire Market
8.3.5. Italy Aluminum Wire Market
8.3.6. Rest of Europe Aluminum Wire Market
8.4. Asia-Pacific Aluminum Wire Market Snapshot
8.4.1. China Aluminum Wire Market
8.4.2. India Aluminum Wire Market
8.4.3. Japan Aluminum Wire Market
8.4.4. Australia Aluminum Wire Market
8.4.5. South Korea Aluminum Wire Market
8.4.6. Rest of Asia Pacific Aluminum Wire Market
8.5. Latin America Aluminum Wire Market Snapshot
8.5.1. Brazil Aluminum Wire Market
8.5.2. Mexico Aluminum Wire Market
8.6. Rest of The World Aluminum Wire Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. General Cable Technologies Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Southwire Company, LLC
9.2.3. Nexans S.A
9.2.4. REA Group Ltd
9.2.5. Sam Dong America
9.2.6. HongFan Holdings
9.2.7. Norsk Hydro ASA
9.2.8. Vedanta Resources Limited
9.2.9. Vimetco NV
9.2.10. LWW Group

Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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