What is Industrial Wire?
A wire is single electrical conductor while bunch of wires are known as cables which are used for transmission of electricity and communication signals. Number of industries require flexible wires with good conducting capacity of electricity. This industrial wires basically differentiated on the basis of their installation. They are includes live wire, the neutral wire and the earth wire. Colour coded is given to them so that they can be easily differentiated. Red colour is known as live wire, black is neutral and green plastic wire is earth wire. Industrial wires are used in many applications such as power generation, industrial robotics, petrochemical and natural gas production. Introduction of new types of wire has been impacted on the demand for industrial wiring which ensure safety and efficacy on power transmition. The technically advanced insulation material are able to provide electrical supply in safer manner hence it is widely used in number of industries and also for household purpose. Rising demand for high-quality telecommunication infrastructure, increasing number of market players and their global presence impacting on the demand for industrial wires. Geographically, Asia-Pacific is expected to grow with high growth rate over forecast period followed by North America and Europe region. According to Energy Information Administration (EIA) 2020, the total electricity demand in 2020 is increased by 2% and largest demand for electricity was noticed from China.
The market study is broken down by Type (Triplex Wires, Main Feeder Wires, Panel Feed Wires, Non-Metallic Sheathed Wires and Single Strand Wires) and major geographies with country level break-up.
There are various companies are operating in the market to provides excellent wiring solutions to end use industries. Industrial wire has huge potential for growth as the demand for multiple types and multiple coded wiring is continue to rise. There are various market players are entering in this industry to capture market growth opportunities. The market leaders are investing on organic and non-organic strategic growth initiatives to become dominant in this industry.
Belden Inc. (United States), BASF SE (Germany), Hitachi (Japan), Sumitomo Electric (Japan), Leoni (Germany), Prysmian Group (Italy), General Cable (United States), Nexans (France), Hengtong (China), Southwire (United States) and L S Cable & System(South Korea) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Philatron Wire & Cable (United States), EIS Wire and Cable (United States) and Alpha Wire Co. (United States).
AdvanceMarketAnalytics has segmented the market of Global Industrial Wire market by Type, Application and Region.
On the basis of geography, the market of Industrial Wire has been segmented into . If we see Market by Insulation Material, the sub-segment i.e. PVC (Polyvinyl Chloride) will boost the Industrial Wire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage, the sub-segment i.e. Low will boost the Industrial Wire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Energy & Power Generation will boost the Industrial Wire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In December 2020, TM Robotics an Industrial robot supplier has established partnership with Magnetic Technologies. This partnership is mainly to distribute the company’s high quality magnetic Brecks and wires in the European market. TM Robotics is distributor for Mobac which is a German manufacturer of drive technology and apparatus for wire and cable applications. As part of its partnership with TM Robotics, Magnetic Technologies is able to provides Teflon coated industrial wirings to customers in the UK and Ireland.
- Use Of Smart Electric Grid For Automation, Computers, And Innovative Equipment And Technologies Which Provides Efficient Electricity Transmission
- The Building And Construction Industry Is Growing Due To Rapidly Increasing Population & Growth In Urbanization.
- Augmented Investments in Upgrading Of The Power Transmission And Distribution Systems
- Increasing Population Leads To Growing Demand for Power Generation
- Suring Urbanization and Industrialization
- 3D Printing Has Leads The Production Of Wires Without Any Major Hurdles. 3D Printers Are Able To Provide Manufacturing Efficiency Hence, There Demand Is Continue To Rise Which Is Well Known Opportunity To The Market
- Market Players BASF SE, 3M Are Focusing On Expanding Their Global Presence Through Strategic Initiatives To Increase Their Industrial Wiring Production Capacity
- Fluctuation In Insulation Material Pricing. The Prices Of Copper Is Continue To Rise Which May Impact On The Demand Of Industrial Wires
- Extensive Dependability Of Raw Material Of Insulation On Petrochemical Derivatives May Hamper The Market Growth.
- Raw Material Like PVC Are Made Up Of Petrochemicals Hence Reducing Dependencies On The Petrochemical Derivatives Is A Key Challenge To The Market
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Industrial Wire Manufacturers, Suppliers and Distributors, Government Regulatory and Research Organizations and End-Use Industries
About ApproachDuring this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
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