The copper enameled and bare wire market in EMEA was estimated at 784 thousand metric tons in 2016 and is expected to surpass 1,019 thousand metric tons by 2021, says Technavio.
Technavio has announced its latest market research report on the copper enameled and bare wire market in EMEA, under its metals and minerals portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Aurubis, BEMKA, HALCOR, MKM Mansfelder Kupfer und Messing, and Wieland-Werke.
According to Ajay Adikari, a lead analyst for metals and minerals research at Technavio, “The growth in power and electrical equipment sector will drive the copper enameled and bare wire market in EMEA. The electrical and power equipment sector requires enameled and bare copper wire in power generation, transmission, and distribution equipment in the overhead transmission wires and earthing wires.”
The increase in demand for electricity and their subsequent expansions of electricity T&D networks will bring more power generator plants online. Rising power generation and distribution infrastructure will upsurge the number of substations, which, in turn, will fuel the demand for transformers, generators, and motors. Such surge in demand for transformers and motors will fuel the demand for enameled copper wire in EMEA during the forecast period.
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Growing solar power industry
The use of solar panels to generate electricity is a well-established technology. Enameled copper wires play an important role in conducting electricity between the cells of a solar panel. The size or the width of the copper wire determines the maximum current that can be safely conducted. Thus, a growing market for solar energy will expand the market demand for copper enameled wire. The annual increase in installed photovoltaic capacity offers significant opportunities to the vendors to meet the rising demand for copper wires designed for solar panels.
Adoption of energy-efficient motors
Strict electricity consumption standards and the increasing price of electricity is boosting the demand for energy-efficient electric motors in EMEA. Vendors across EMEA are also following the implementation of various design and manufacturing standards and regulations to manufacture energy-efficient electric motors. With technological advancements and effective promotions done by the vendors, the electric motors market is expected to grow during the forecast period in EMEA.
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This market research report includes an in-depth analysis and market shares and sizes of the sub-segments and geographical segmentations. A competitive analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Copper Enameled And Bare Wire Market in EMEA 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
