logo

Copper Stranded Wire Market Size (2024 - 2029)

The copper-stranded wire market is projected to experience modest growth over the forecast period, influenced by factors such as rising energy demands and the development of more versatile products. The market's expansion was initially hindered by the COVID-19 pandemic, which disrupted construction and economic activities globally. However, recovery was observed as demand rebounded. Opportunities for market growth are anticipated in infrastructure, telecommunications, and energy sectors, particularly in emerging economies, with the Asia-Pacific region expected to lead the market.

Home Market Analysis Chemicals & Materials Research Metals and Minerals Research Metals Research Base Metals Research Copper Research Copper Stranded Wire Research Copper Stranded Wire Market Market Size

Market Size of Copper Stranded Wire Industry

Copper Stranded Wire Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 1.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Copper Stranded Wire Market Major Players

*Disclaimer: Major Players sorted in no particular order

Copper Stranded Wire Market Analysis

The copper-stranded wire market is estimated to register a CAGR of 1% over the forecast period.

  • The COVID-19 pandemic significantly impacted the copper-stranded wire market's growth in 2020 and 2021 due to several factors, such as nationwide lockdowns and a decline in investments. The pandemic severely affected the economies of many countries around the globe, which adversely affected the construction of housing units.
  • Unemployment, the shutting down of businesses, and the decreasing purchasing power of countries negatively impacted the housing unit sector during the pandemic. Additionally, delaying projects due to a shortage of labor, disruption in the supply chain of materials, and an upward surge in material prices, among others, significantly impacted the construction of housing units globally. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
  • Over the medium term, the major factors driving the market include increasing energy requirements and developing products with more flexible and functional applications. On the flip side, loss of energy due to the proximity effect is expected to hinder the market's growth significantly.
  • Increasing usage in infrastructure, telecommunications, energy, etc., and activities in emerging economies are likely to act as opportunities in the future. Asia-Pacific is expected to dominate the global market during the forecast period.

Copper Stranded Wire Industry Segmentation

Copper-stranded wires are more flexible than solid copper wires of the same cross-sectional area and have higher fatigue resistance. The copper-stranded wire consists of multiple small copper wires wrapped together to form a larger conductor. 

The copper-stranded wire market is segmented by geometry, end-user industry, and geography. By geometry, the market is segmented into bunched, concentric, and other geometries. By end-user industry, the market is segmented into construction, energy, transportation, electronics and telecommunications, and other end-user industries. The report offers market sizes and forecasts for 15 countries across major regions. 

For each segment, market sizing and forecasts have been done on the basis of value (USD million).

Geometry
Bunched
Concentric
End-user Industry
Construction
Energy
Transportation
Electronics and Telecommunication
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Copper Stranded Wire Market Size Summary

The copper-stranded wire market is poised for modest growth over the forecast period, driven by increasing energy demands and the development of more flexible and functional applications. The market experienced significant disruptions during the COVID-19 pandemic, with factors such as lockdowns, reduced investments, and supply chain disruptions adversely affecting the construction sector, a major end-user of copper-stranded wires. However, the industry began to recover in 2021, with a rebound in demand. The market's growth is expected to be hindered by energy loss due to the proximity effect, but opportunities are emerging from the expanding infrastructure, telecommunications, and energy sectors, particularly in emerging economies. The Asia-Pacific region, led by China and India, is anticipated to dominate the global market, supported by substantial government investments and initiatives in infrastructure development.

The construction industry remains a significant contributor to the demand for copper-stranded wires, with infrastructure projects in Asia-Pacific, especially in China and India, driving growth. The region's rapid infrastructure expansion, supported by government initiatives, is expected to bolster the market. Additionally, increasing investments in infrastructure construction in the Middle East and Africa, such as Saudi Arabia's Vision 2030, are likely to further stimulate demand. The market is characterized by partial fragmentation, with key players including Prysmian Group, Alan Wire Company, Nexans, Alfanar Group, and Sumitomo Electric Industries, Ltd. The growing global demand from the construction and electronics sectors, along with the recovery of the automotive industry in China, is anticipated to support the market's expansion during the forecast period.

Explore More

Copper Stranded Wire Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Energy Requirement

      2. 1.1.2 Developments of Products with More Flexible and Functional Application

    2. 1.2 Restraints

      1. 1.2.1 Loss of Energy Due to Proximity Effect

      2. 1.2.2 Expensive to Manufacture

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Geometry

      1. 2.1.1 Bunched

      2. 2.1.2 Concentric

    2. 2.2 End-user Industry

      1. 2.2.1 Construction

      2. 2.2.2 Energy

      3. 2.2.3 Transportation

      4. 2.2.4 Electronics and Telecommunication

      5. 2.2.5 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Copper Stranded Wire Market Size FAQs

The Copper Stranded Wire Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)

Alan Wire Company, Sumitomo Electric Industries, Ltd., alfanar Group, NEXANS and Prysmian S.p.A are the major companies operating in the Copper Stranded Wire Market.

Copper Stranded Wire Market Report Snapshots

Copper Stranded Wire Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)