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Copper Alloy Wire Market to Grow by USD 19 Billion from 2024-2028, Driven by Growth in Communication and Electronics Industries, Powered by AI- Technavio Report

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NEW YORK, Aug. 26, 2024 /PRNewswire/ — The global copper alloy wire market size is estimated to grow by USD 19 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.35% during the forecast period. Growing communication and electrical and electronics industries is driving market growth, with a trend towards increasing number of renewable energy installations. However, growing constraints on copper supply poses a challenge. Key market players include Alloy Wire International Ltd., Aviva Metals Inc., Chaplin Bros Birmingham Ltd., CK SAN ETSU Co. Ltd., Deutsche Nickel GmbH, Diehl Stiftung and Co. KG, Furukawa Electric Co. Ltd., International Bron Metal SA, Jelliff, JLC Electromet Pvt. Ltd., Kamman Group, Knight Strip Metals Ltd, Little Falls Alloys Inc., Metals United Alloys And Fusion Products Ltd., Mitsubishi Materials Corp., RCI Industries and Technologies Ltd., Saru Precision Wires Pvt. Ltd., Ulbrich Stainless Steels and Special Metals Inc., Wieland Werke AG, and YAMAKIN Co. Ltd..

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Copper Alloy Wire Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3.35%

Market growth 2024-2028

USD 19 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.2

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 52%

Key countries

China, US, Japan, Germany, and France

Key companies profiled

Alloy Wire International Ltd., Aviva Metals Inc., Chaplin Bros Birmingham Ltd., CK SAN ETSU Co. Ltd., Deutsche Nickel GmbH, Diehl Stiftung and Co. KG, Furukawa Electric Co. Ltd., International Bron Metal SA, Jelliff, JLC Electromet Pvt. Ltd., Kamman Group, Knight Strip Metals Ltd, Little Falls Alloys Inc., Metals United Alloys And Fusion Products Ltd., Mitsubishi Materials Corp., RCI Industries and Technologies Ltd., Saru Precision Wires Pvt. Ltd., Ulbrich Stainless Steels and Special Metals Inc., Wieland Werke AG, and YAMAKIN Co. Ltd.

 

Market Driver

Copper alloy wires hold significant importance in the renewable energy sector due to their superior conductivity and cost-effectiveness. These wires are extensively used in making electrical components for solar panels, hydroelectric motors, geothermal heat pumps, transformers, and electric cables. The International Energy Agency (IEA) reported a 7% rise in renewable electricity generation in 2020, with wind and solar PV technologies contributing nearly 60% to this increase. Renewables accounted for almost 29% of global electricity generation in 2020, with solar PV growth at 23%, representing the second-largest absolute generation expansion among renewable technologies. The number of solar PV installations is projected to rise by 16% between 2018 and 2030, leading to increased demand for copper alloy wires. Furthermore, offshore wind capacity is anticipated to reach 52 GW by 2023, necessitating the production of long-length power cables for wind energy systems, thereby driving the demand for copper alloy wires. 

The Copper Alloy Wire Market is witnessing significant growth in various industries such as precision manufacturing, renewable energy, and infrastructure. Sustainable production is a key trend, with manufacturers focusing on reducing waste and improving efficiency. Copper alloy wires are widely used in electrical and electronics, automotive, aerospace, defense, biomedical engineering, and smart materials. Nickel, zinc, aluminum, bronze, and brass are common alloys used. Key applications include actuators, wind turbines, solar panels, and wiring. The Brass wire segment dominates due to its flexibility and strength. In 2021, the market is expected to reach new heights, with demand coming from sectors like construction (Concrete), transportation, and infrastructure. Metric tons of copper alloy wire are produced annually from mines, with diameters ranging from thin to heavy-gauge. Copper alloy wires offer superior strength and finishes, making them ideal for various applications. 

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Market Challenges

The copper alloy wire market is facing challenges due to the widening supply-demand gap in the copper industry. The increasing demand from power and construction sectors, as well as the development of electric vehicles, is putting pressure on the industry’s ability to meet supply. The COVID-19 pandemic disrupted the copper supply chain in 2020, and the trend towards electrification is expected to further increase demand. However, the production of copper is being limited by several factors. Declining ore grades, water scarcity, and environmental issues are restricting the supply of copper from mines. These operational and financial constraints are expected to negatively impact the growth of the copper alloy wire market during the forecast period.The Copper Alloy Wire Market faces several challenges in various sectors. In Construction, the use of concrete in infrastructure projects increases the demand for copper alloy wires due to their flexibility and strength. In Renewable Energy, the growth of Wind and Solar Power requires large quantities of copper alloy wires for transmission lines, with metric tons of Brass wire segment being in high demand. Mines and Metals industries require copper alloy wires for electrical wiring and mining equipment. Alloying elements like Tin, Iron, Silver, and Phosphorus impact the physical properties, such as conductivity and corrosion resistance. The Automotive Application segment relies on copper alloy wires for sensors in cars, engines, and emissions control systems. Recycling efforts and the use of Zinc alloy in place of copper for some applications pose challenges to the market’s growth. Copper alloy wires find applications in Roofing, Cladding, Rainwater systems, Heating systems, Electrical wiring, Oil and Gas industries, Electronic products, Vehicle manufacturing, Precision mold manufacturing, and Hardware accessories.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This copper alloy wire market report extensively covers market segmentation by

Application 1.1 Electrical and electronics1.2 Construction1.3 Automotive1.4 OthersEnd-user 2.1 Low voltage2.2 Medium voltage2.3 High voltageGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Electrical and electronics- The Copper Alloy Wire Market is experiencing steady growth due to its extensive usage in various industries such as telecommunications, power, and construction. Copper alloy wires offer excellent conductivity, durability, and resistance to corrosion. Key players in this market include Prysmian Group, Nexans, and Sumitomo Electric Industries. They focus on innovation, quality, and customer satisfaction to maintain their market position. The market is expected to continue growing due to increasing demand for reliable and efficient power transmission and telecommunication networks.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Copper Alloy Wire Market is witnessing significant growth due to its extensive applications in various industries. In the construction sector, copper alloy wires are used as electrical conductors for wiring in buildings and infrastructure projects. The renewable energy sector, particularly wind and solar power, is a major consumer of copper alloy wires due to their high conductivity and durability. The market includes brass wire segment, which finds applications in electrical and electronic appliances, hardware accessories, and precision manufacturing. Sustainable production and use of high-quality materials are key trends in the market. Copper alloy wires are also used in transportation, automotive, aerospace, defense, biomedical engineering, smart materials, actuators, microelectronic packaging, and nickel industries. Mines are the primary sources of raw materials for copper alloy wire production.

Market Research Overview

The Copper Alloy Wire Market encompasses a wide range of applications, primarily in the construction, renewable energy, and metals industries. In construction, copper alloy wires are used extensively in wiring for concrete structures, offering flexibility and strength. In the renewable energy sector, copper alloy wires are essential components of wind power and solar power systems due to their high electrical conductivity and resistance to corrosion. Mines and mining operations also utilize copper alloy wires for various applications, including roofing, cladding, rainwater systems, and heating systems. The diameters and finishes of these wires can vary, depending on the specific application. Alloying elements such as tin, iron, silver, and phosphorus are added to enhance the physical properties of copper alloy wires, including conductivity, corrosion resistance, and strength. Copper alloy wires are also used in the oil and gas industry, automotive applications, electronic products, and precision mold manufacturing. Zinc alloy wires, such as brass and bronze wires, are often used for their resistance to corrosion and electrical conductivity. Copper-nickel wire, nickel silver wire, and other alloys are also used in various applications, including actuators, sensors in automobiles, and aerospace and defense components. Recycling efforts have played a significant role in the Copper Alloy Wire Market, making it a sustainable production choice for various industries. The market includes a diverse range of applications, from electrical and electronics to transportation, infrastructure, automotive, and biomedical engineering. Sustainable production and manufacturing capabilities are increasingly important considerations for companies in this market. Some of the key physical properties of copper alloy wires include their high electrical conductivity, resistance to corrosion, and precision manufacturing capabilities. Alloys such as nickel, zinc, aluminum, and various other metals are used to enhance the properties of copper alloy wires for specific applications. Copper alloy wires are used extensively in wind turbines and solar panels, making them essential components of the renewable energy sector. Electrical and electronics, automotive, aerospace, defense, and biomedical engineering are other significant markets for copper alloy wires. Copper alloy wires are also used in actuators, sensors, and various other applications, making them a versatile and essential choice for various industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationElectrical And ElectronicsConstructionAutomotiveOthersEnd-userLow VoltageMedium VoltageHigh VoltageGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Doo Group Strengthens Global Reach with CySEC License for Doo Financial

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LIMASSOL, Cyprus , Nov. 15, 2024 /PRNewswire/ — Doo Group is proud to announce that Doo Financial, one of its brands, has been awarded a new license by the Cyprus Securities and Exchange Commission (CySEC). This achievement strengthens Doo Group’s commitment to providing a secure and regulated trading environment for its clients globally.

Expanding Regulatory Reach

The addition of the CySEC license highlights Doo Group’s extensive regulatory framework, which already spans across multiple financial jurisdictions, including the United Kingdom, Australia, Hong Kong and Malaysia. This strategic milestone reflects Doo Group’s dedication to ensuring compliance with international regulatory standards and prioritizing client security. As a European Supervisory Authority, CySEC offers a robust regulatory environment and is expected to enhance client confidence. For Doo Group, this new regulatory milestone reinforces its reputation as a trusted, reliable financial services provider.

“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion. This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe. By aligning with CySEC’s rigorous requirements, we are better positioned to offer enhanced services to our clients, foster greater transparency, and ensure long-term stability in an increasingly complex and dynamic financial landscape.” Costas Kappai, Doo Financial EU

Strengthening Client Confidence

Doo Financial EU, the European branch of Doo Financial, is now positioned to serve clients across Europe under the guidelines of a European Supervisory Authority. European clients will benefit from CySEC’s regulatory protections, including client fund safety and transparent business practices, ensuring a secure and trustworthy trading experience. This development allows Doo Financial EU to offer its suite of financial services and trading products to a wider audience, backed by the credibility and oversight of CySEC.

By expanding its regulatory reach, Doo Group continues to strengthen its position in the global financial market, enabling clients to trade with confidence. The CySEC license is another step toward achieving Doo Group’s vision of becoming a leader in financial services.

About Doo Group

Founded in 2014 and headquartered in Singapore, Doo Group is an international financial services provider with a focus on FinTech. With operations across 10 major business lines—including Brokerage, Wealth Management, Payments, and Digital Marketing—we are dedicated to delivering comprehensive financial solutions that empower our clients to explore a better future.

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Liberty General Insurance Continues to Drive Insurance Awareness and Inclusion with ‘Suraksha ka Vaada Bima ke Saath’ Initiative Across Delhi and Punjab

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NEW DELHI, Nov. 15, 2024 /PRNewswire/ — Liberty General Insurance, one of the leading non-life insurance companies in India and the lead insurer for Delhi under the Insurance Regulatory and Development Authority of India’s (IRDAI) State Insurance Plan, is spearheading an insurance awareness initiative in Delhi. While there are no gram panchayats in Delhi, Liberty continues to drive insurance awareness through grassroots and digital outreach.

In parallel, Liberty is fulfilling its rural and social obligations by focusing on underserved areas in Punjab. This effort includes a recently initiated awareness campaign across 400 gram panchayats in Punjab to expand insurance penetration and increase accessibility in these regions.

In Delhi, Liberty continues to create awareness under ‘Suraksha ka Vaada Bima ke Saath’ initiative launched in 2023. This October Liberty began with a Door-to-Door Campaign across North-West and North East Delhi, reaching over 1600 households in Karala Village, Budh Vihar, Kanjawala Village and Begumpur, Burari, Kanhiya Nagar, Rampura, and Jahangirpuri, achieving over 25000 impressions. Over nearly a month, Liberty’s teams engaged with residents, distributing leaflets and explaining the benefits of motor and health insurance. This campaign was followed by the ‘Nukkad Natak’ (Street Play) initiative in South Delhi, targeting key neighborhoods of Sarojini Nagar, Lajpat Nagar, Nirman Vihar, Lakshmi Nagar, and Begumpur chowk market. The street plays used interactive performances to educate communities on the importance of insurance and dispel common myths. To reinforce the message, Liberty’s team also disseminated copies of the ‘Wise Ways of Insurance’ booklet—a unique resource developed to demystify insurance products and promote informed decision-making. The booklet, which is being translated into vernacular languages, is also being distributed in other states as part of Liberty’s commitment to financial literacy across India.

Complementing its on-ground efforts, Liberty General Insurance continues to leverage social media to drive targeted insurance awareness campaigns. Recognizing that widespread mobile access allows more people to connect online, Liberty reaches both rural and urban audiences, empowering individuals everywhere with the knowledge needed to make informed financial decisions.

Commenting on this awareness drive, Mr. Parag Ved, CEO & Whole-Time Director, Liberty General Insurance said, “Our ‘Suraksha ka Vaada Bima ke Saath’ campaign is an effort in line with IRDAI’s ‘Insurance for All by 2047’ vision, towards empowering communities across Delhi, Punjab, and beyond with the financial security that insurance provides. With general insurance penetration in India still at less than 1% of its GDP, there is a pressing need to educate communities and break down the barriers to understanding the importance of insurance. Liberty will ensure that its wide distribution network makes policies accessible to all, so that every citizen—no matter where they are—can access the financial safety net that insurance offers.”

“Liberty is committed to fostering a culture of financial resilience where every Indian can feel secure about their future. Together, we are building a future where insurance isn’t just a product but a promise of protection and peace of mind,Mr. Ved added.

Looking ahead, Liberty will be rolling out a transit media campaign across South Delhi in December, utilizing branded auto rickshaws to increase visibility and connect with residents in this vibrant area of the capital. By leveraging transit media, Liberty aims to bring insurance awareness into people’s daily routines, making information accessible in familiar, everyday settings. This campaign builds on the success of previous awareness initiatives and reinforces Liberty’s commitment to educating and empowering individuals about insurance.

About Liberty General Insurance

Liberty General Insurance Ltd. (LGI) is a joint venture between Summit Asia Investment Holdings PTE Ltd.— a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S., Enam Securities, and Diamond Dealtrade. LGI commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of 1100+ with presence across 100+ locations in 28 states and UTs. Its partner network consists of about 6000+ hospitals and more than 5000 auto service centres. The company offers health and personal accident insurance, car and two-wheeler insurance, employee compensation insurance, commercial insurance, engineering insurance, marine insurance, liability insurance and property insurance among other products in India.

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Hikvision unveils WonderHub and elevates smart collaboration across industries

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HANGZHOU, China, Nov. 15, 2024 /CNW/ — Hikvision unveiled its fully upgraded smart collaboration business. The event showcased a range of innovative products designed to transform collaboration in education, meetings, retail, and more. Among the highlights were cutting-edge solutions like WonderHub interactive displays, digital signage, and video conference devices. These products underscore Hikvision’s commitment to driving digital transformation and enhancing user experiences in an increasingly connected world.

At the heart of this ecosystem is WonderHub, which features WonderOS, an AI-powered platform that seamlessly connects devices and enhances collaboration. With tools like WonderSpark for interactive whiteboards and WonderCast for wireless content sharing, WonderHub enables users to communicate, create, and collaborate more effectively than ever.

Boosting Classroom Engagement with Innovative Solutions

In education, WonderHub is designed to elevate classroom experiences. The interactive displays enable students to share and express ideas effortlessly, creating a more engaging and dynamic learning environment. The built-in WonderSpark smart whiteboard software uses AI to recognize equations, provide solutions, and generate interactive 3D teaching materials across subjects like mathematics, chemistry, and natural sciences. Teachers can also access licensed images and videos through Creative Commons integration, enriching lesson content and boosting student engagement.

Classrooms equipped with WonderHub also benefit from multi-window modes and a suite of 19 educational tools. These include subject-specific templates and interactive applications. For remote learning, WonderHub integrates seamlessly with third-party conferencing platforms, allowing students to collaborate in real-time, no matter their location.

Empowering Business Meetings with Intelligent Features

Hikvision’s smart collaboration solutions transform business meetings into more efficient and immersive experiences. The WonderHub Ultra Series allows users to easily connect personal devices and leverage the interactive display’s camera, speakers, and microphone for high-quality remote conferencing. The HiSpire meeting management system streamlines meeting logistics, including room scheduling, attendee notifications, post-meeting summaries, and distribution of materials.

Advanced AI features, such as auto-framing and speaker tracking, ensure optimal video quality. Meanwhile, app-free screen casting allows for easy sharing of presentation materials. The X12 and X28 audio-video cameras offer enterprises tailored setups to suit meeting rooms of any size, ensuring seamless communication with high-definition video and precise audio capture.

Transforming Retail Spaces with Dynamic Digital Signage

Hikvision has also advanced its digital signage solutions to enhance customer engagement in retail scenarios. The vibrant displays and centralized content management allow retailers to effectively capture attention. High-brightness window displays attract passersby with promotions and new product highlights. Meanwhile, floor-standing signage supports interactive features, such as self-service ordering. The HikCentral FocSign platform enables retailers to remotely manage and distribute content across multiple locations, improving operational efficiency and ensuring consistent branding.

These digital signage solutions, including the DP and DL series, boast superior brightness and clarity, ensuring visibility even in strong lighting conditions. The displays run on Hikvision’s self-developed platform and support WonderCast wireless casting, enabling quick and easy content sharing from various devices.

Since entering the smart collaboration market in 2017, Hikvision has rapidly become a leading global player. With over 300,000 units sold across more than 140 countries and regions, Hikvision’s smart collaboration business exemplifies the company’s commitment to innovation, quality, and user-centric design. As a key highlight of this evolution, the fully upgraded WonderHub represents the next leap forward in smart collaboration technology.

By bridging advanced technology with practical applications, WonderHub, along with Hikvision’s broader range of smart collaboration solutions, is leading the way in providing more efficient and intelligent solutions for users worldwide.

For more information about Hikvision’s smart collaboration products and solutions, please visit Hikvision’s official website.

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