Copper Stranded Wire: Introduction
- Copper stranded wire is a collection of smaller copper wires wrapped in one set, or copper stranded wire comprises a number of small wires bundled or wrapped together to form a large conductor. Copper stranded wire is more flexible than solid wire of the same total cross-sectional area. Copper stranded wire tends to be a better conductor than solid wire, as the individual wires collectively comprise a greater surface area. It is utilized when higher resistance to metal fatigue is required. Copper stranded wire being flexible has greater functionality; for moving the cables between knobs, switches and circuit boards, or wherever physical flexing is needed.
- Copper stranded wire is extensively employed for electrical wiring in homes, commercial areas, buildings, and industries. The uses of copper reflect its diverse material properties. Excellent electrical and thermal conductivity of copper make it is ideally suited for usage in electrical engineering, electronics and telecommunications applications. Electrical conductivity of copper is 1.5 times higher than that of aluminum, which makes copper the preferred input material for electrical mains. Copper possesses good formability; however, it is extremely strong with high corrosion resistance.
- Copper stranded wires are better suited for indoor use on circuit boards, speaker wires, electronic devices, etc., where bending and twisting are necessary to connect electronic components. For instance, an ideal application of stranded wire is in a car door where frequent bending will occur. The bundled braids of copper stranded wires offer a few acute benefits over solid wire such as better flexibility, malleability, and it does not split or sever on application. Copper stranded wires are advantageous for applications that require a great deal of intricate snaking, bending, reshaping, and movement such as in vehicles/robotics or electronic circuit boards.
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Key Drivers and Restraints of Global Copper Stranded Wire Market
- Copper stranded wires are employed for electric supply and can be installed in both the residential and industrial applications. A major end-user for the copper stranded market is the construction industry. According to a study by Institution of Civil Engineers (ICE), the global construction industry is expected to reach a value of US$ 8 trillion by 2030, primarily driven by China, India, and the U.S. Thus the rise in construction industry is anticipated to drive the global copper stranded wire market during the forecast period..
- The increasing inter-connections of electronics & electrical equipment in the gigantic offices and households, growing demands on information and communication technology has surge the demand for copper stranded wire that is utilized for the smooth connections, this factor is expected to propel the demand for copper stranded wire in the near future.
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Copper Stranded Wire Market: Application Segment
- Based on application, the global copper stranded wire market can be segmented into transportation, infrastructure, electronics & telecommunication, energy, industrial, and others
- The electronics & telecommunication segment, followed by the infrastructure segment, is expected to hold a significant share of the global copper stranded wire market, as the electronics sector across the globe is witnessing significant technological changes and building & construction and infrastructure activities are increasing around the globe.
Covid-19 Impact on Copper Stranded Wire Market
- Several governments and private sector businesses are operating on a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic. Manufacturing of goods across the globe came to a halt due to the unavailability of raw materials, shortage of labor, and other reasons. This is expected to hamper the copper stranded wire market to some extent.
Asia Pacific to be Key Market for Copper Stranded Wire
- In terms of region, the global copper stranded wire market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a prominent construction market, led by India, China, and several countries in Southeast Asia. In India, the government has initiated projects such as 100 smart cities and ‘Housing for All by 2022’, which are expected to significantly drive the residential construction market in India during the forecast period. The infrastructure sector in the country has witnessed significant interest from foreign investors. Furthermore, the automotive industry in China is also witnessing considerable expansion, which is expected to drive the demand for copper stranded wire.
- The construction industry in GCC is expanding at a rapid pace, with the United Arab Emirates and Qatar are expected to be bright spots, as they are focusing on future mega projects such as Expo 2020 and FIFA World Cup 2022. This is likely to drive the copper stranded wire market in the region.
Key Manufacturers Operating in Global Copper Stranded Wire Market
The global copper stranded wire market was highly fragmented in 2019. Major players have prominent presence in developing countries. Key manufacturers operating in the global copper stranded wire market include:
- Prysmian Group
- General Cable
- Sumitomo Electric Industries Ltd
- SKB Group
- Superior Essex
- Poly Cab
- Owl Wire & Cable
- Alan Wire
Global Copper Stranded Wire Market: Research Scope
Global Copper Stranded Wire Market, by Type
- Solid copper stranded wire
- Soft copper stranded wire
Global Copper Stranded Wire Market, by Application
- Electronics & Telecommunication
- Industrial Application
Global Copper Stranded Wire Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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