Electrical coil windings are one of the most important components of most major electrical devices, such as transformers, motors, and generators. They are used either to generate the required magnetic field for the functioning of a device, or to produce voltage using the application of an external magnetic flux.
Given the fact that electrical coil windings are critical for the functioning and operation of numerous such devices, growth in demand for these electrical devices is positively impacting the global electrical coil windings market.
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- Stonite Coil Corporation
- Classic Coil Company Inc.
- APW Company
- Miles Platts Limited
- R Baker (Electrical) Ltd.
- National Electric Coil Inc.
- Selco Co. Ltd.
- Quartzelec Ltd.
- Sag Harbor Industries Inc.
- IK Electric Co., Ltd.
- North Devon Electronics
- Everson Tesla Inc.
- AGW Electronics Ltd.
- Stimple & Ward Co.
Application in Power Transmission & Distribution to Drive Incremental Growth
Electrical coil windings are used in a large number of electrical devices, which, in turn, find application across a variety of end-use industries such as power transmission & distribution, industrial facilities, electronics & communication, medical equipment, etc. Application in power transmission & distribution accounts for a dominant share of the electrical coil windings market.
With the growing need for reliable power supply and last mile connectivity, utilities are expanding their T&D networks by building new infrastructure. At the same time, utilities in regions with legacy infrastructure are spending on upgrading their equipment to maintain the reliability of power systems.
Thus, the growth of new power transmission & distribution infrastructure, especially in region such as India, China, and Southeast Asia, and infrastructure upgrades in Europe and North America, will contribute to the continuing growth of the electrical coil windings market over the forecast period.
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Copper Clad Aluminum Windings Fast Emerging as Material of Choice
Copper and aluminum were the two materials traditionally used in the electrical coil windings market. While copper provides superior conductivity and reliability, aluminum is used for its lightweight and better flexibility. The emergence of copper clad aluminum-based electrical coil windings has broadened the horizon, wherein, the core of the winding wire is made of aluminum with a coating of copper on the surface.
This material provides the reliability and efficiency of copperm with the lower weight and space properties of aluminum. By material type, the copper clad aluminum segment is projected to grow at the fastest pace during the forecast period, in the global electrical coil windings market.
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Increased R&D Spending to Enhance Product Offerings
Over the past few years, key players in the electrical coil windings market have been focusing on the development of innovative products, with increased R&D spending and focus on new technology breakthroughs.
The development of copper clad aluminum windings was the fruit of such efforts on part of companies to solve pressing customer problems. This will further open up the market for new and innovative products, and cater to the growing demand from end-use customers.
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Asia Pacific Dominates Global Electrical Coil Windings Market
On a regional basis, the global electrical coil windings market is segmented into North America, Europe, Latin America, South Asia, East Asia, Middle East & Africa, and Oceania.
Asia Pacific, as a whole, accounted for nearly 45% share of the global electrical coil windings market in 2018, and is projected to retain its top position as the leading demand destination in the global electrical coil windings market throughout the forecast period.
India and Southeast Asian countries are projected to be the new growth engines in this region, while China will continue to act as the backbone of demand in the foreseeable future.
A significant growth in investments by governments to develop and improve power transmission and distribution networks has been witnessed, with a number of projects planned for expanding these networks. Expansion of the electronics & telecommunication sectors has resulted in increased demand for electrical coil windings for various electronic equipment such as sensors, smartphones, etc. All of these factors present a market that has ample demand and areas that are ripe for disruption with unique products, such as the communication technology sector. The highly fragmented market scenario translates into increased scope for new entrants, which is an opportunity many companies can leverage.
Key Segments of Electrical Coil Windings Market
PMR’s study on the electrical coil windings market is divided into five significant segments - winding material, winding technology, winding type, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Electrical Coil Windings Market Report
- Which region is anticipated to hold a prominent market share over the forecast period?
- What will be the key driving factors propelling the demand for electrical coil windings during the forecast period?
- How will current trends impact the electrical coil windings market?
- Who are the significant market participants in the electrical coil windings market?
- What are the crucial strategies of prominent players in the electrical coil windings market to upscale their positions in this landscape?