Copper Stranded Wire Market Sales Volumes, Competition Analysis and SWOT Analysis

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opper 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 market 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.

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.

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.

• 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.

• 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.