Connect with us

Technology

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

Published

on

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..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

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. 

Explore a 360° Analysis of the Market: Unveil the Impact of AI. For complete insights- Request Sample!

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/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-302230546.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

3 Easy Ways to Save on Payroll Software in 2025

Published

on

By

New survey results from Halfpricesoft reveals key tricks businesses across America have been using to maximize efficiency.

REDMOND, Wash. , Jan. 7, 2025 /PRNewswire/ — With inflation, “shrinkflation,” and corporate price hikes since the pandemic, small businesses are being squeezed by big tech companies into ever-smaller margins. Large coastal tech providers continue raising prices on even the most basic payroll software features, leaving small businesses and bookkeepers to foot the bill.

 

Business experts at Halfpricesoft have spent thousands of hours talking with small businesses from Iowa to Idaho to learn how they are surviving these unprecedented times. From cutting overhead costs to running more effective acquisition campaigns, they found that one of the biggest unnecessary expenses is overpaying for tech products—particularly payroll software. Business owners and accountants shared stories of per-employee fees exceeding $10 and steep charges for adding new companies.

Fixed Price for Employees

The fastest way to save money on payroll is to pick software with a fixed price rather than per-employee charges. Many major providers charge double digits per additional employee, which quickly drives up costs. Instead, choose solutions that offer a fixed rate, regardless of the number of employees.

ezPaycheck, an unlimited-employee payroll solution from Halfpricesoft, does exactly that. With unlimited employees and unlimited checks, bookkeepers, CPAs, and business owners have saved as much as 90% by switching from larger competitors. By focusing on fewer (but essential) features and streamlining development, ezPaycheck has been sold and supported continuously since 2005.

https://www.halfpricesoft.com/index.asp

Accurate, Updated Tax Withholding

One of the most common (and costly) mistakes businesses make is using payroll software that overestimates withholding. When employers send excess funds to the IRS and state governments on behalf of employees, it ties up capital that could otherwise be reinvested into the business.

The key to scaling a  small business or CPA firm is efficient capital allocation, making any significant overpayment of taxes a major liability. Some payroll software, to avoid underpayment, will drastically overcalculate withholdings or fail to handle state tax rates correctly.

Halfpricesoft takes pride in ezPaycheck’s accuracy and rapid updates. Whenever new tax laws or rate changes are announced, ezPaycheck and ezAccounting are updated promptly—often faster than many other solutions on the market. This commitment to accuracy and ease of use explains why ezPaycheck boasts one of the highest customer retention rates in the industry.

Quick Technical Support

Small businesses are often overlooked by larger companies, even when paying thousands of dollars in annual fees. When payroll errors or calculation issues arise, major providers tend to prioritize their biggest clients, leaving smaller businesses with delayed or inadequate support. This oversight can lead to tax penalties and costly mistakes.

ezPaycheck stands out in the payroll market for its fast, attentive support—especially when W-2 and 1099-MISC forms are due at the end of January. During these peak periods, support hours extend to over 12 hours a day, ensuring quick response times. From remote desktop troubleshooting to detailed phone consultations, Halfpricesoft focuses on customer success as one of its guiding principles. Only when small-business partners succeed can a payroll company truly grow.

Conclusion

With a 30 day free trial  and only $169 for an annual license, businesses owners and CPAs are encouraged to try ezPaycheck. With after the fact checks, 941 e-filing, check printing, and misc checks, ezPaycheck is the best payroll software for small businesses who want to scale affordably.

https://www.halfpricesoft.com/index.asp

Halfpricesoft.com is a leading provider of small to mid-size business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software,1095 form software and ezACH direct deposit software. Software from halfpricesoft.com is trusted by customers for over 20 years and will allow US business owners to simplify payroll processing and streamline business management.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/3-easy-ways-to-save-on-payroll-software-in-2025-302344122.html

SOURCE Halfpricesoft.com

Continue Reading

Technology

Siemens launches new program to empower startups with cutting-edge technology

Published

on

By

Siemens for Startups program to streamline the collaboration process and facilitate partnerships with new innovative companiesSiemens to collaborate with Amazon Web Services (AWS) to deliver access to Siemens Xcelerator ecosystem and accelerate innovation at startups

MUNICH, Jan. 7, 2025 /PRNewswire/ — Siemens today launched Siemens for Startups, a new program to empower early-stage engineering and manufacturing startups. Announced at CES 2025 in Las Vegas, the program will enable new innovative companies to accelerate innovation, streamline development processes and scale faster by providing venture-related services, while reducing the cost of access to Siemens software and hardware.

“Startups are essential to making our customers more competitive, sustainable and resilient. By collaborating with startups, Siemens helps bring breakthrough ideas to industries faster, empowering customers to address global challenges more effectively with cutting-edge technologies, tools and solutions,” said Peter Koerte, Member of the Managing Board of Siemens AG, Chief Technology Officer and Chief Strategy Officer. 

The Siemens for Startups program has three pillars:

Connect 
The new program will help onboard startup companies to the Siemens Xcelerator marketplace, thus providing access to a global go-to-market channel and the Siemens Xcelerator ecosystem.Collaborate 
As an early customer and co-developer, Siemens will collaborate with leading startups through venture clienting. This approach will give Siemens access to cutting-edge capabilities and services and provide startups with the early revenue needed for growth.Empower
Solutions from the “Siemens for Startups” program will provide startups – whether focused on product development or on software development – with packaged access to essential software tools from Siemens Xcelerator.

Partnership with AWS

As part of its ongoing strategic collaboration with AWS, Siemens will link the “Siemens for Startups” program with AWS’s Startup program to accelerate innovation, streamline development processes and enable startups to scale faster. The collaboration underscores both companies’ commitment to fostering entrepreneurship and driving digital transformation in the industrial sector.

“Collaborating with Siemens allows us to extend the capabilities of our AWS Startup program to a new generation of innovators in the engineering and manufacturing space,” said Jon Jones, Vice President and Global Head Startups at AWS. “By providing startups with advanced software, generative AI and cloud services, AWS and Siemens are enabling them to bring their ideas to life more quickly and boost entire industries with cutting-edge solutions.”

Integrating Siemens’ comprehensive suite of industrial software – including design, simulation and manufacturing solutions from the Siemens Xcelerator portfolio – into AWS’s scalable cloud infrastructure and startup program will enable startups to access the tools and resources they need to seize market opportunities. For technical and go-to-market support, qualifying startups will receive AWS credits, business development resources and access to the AWS Activate program.

Showcasing startups

At CES 2025, Siemens highlighted the following startup companies that are collaborating with Siemens’ teams and technology to scale operations.

Arkisys is building one of the first business platforms in space for new technology hosting, satellite integration, assembly and resupply. The Arkisys Port supports scalable rapid prototyping, new payload and technology testing, the assembly and integration of new free-flying space platforms and destinations for orbital transfer vehicles, and on-orbit assembly and manufacturing.Dirac, a Siemens Technology Partner, is a leader in automated manufacturing workflow software, revolutionizing American manufacturing with innovative solutions that bridge the gap between design and production. Its flagship product, BuildOS, is the first automated work instruction platform, using physics-based simulations and manufacturing best practices to automatically generate animated, interactive, 3D assembly-ready work instructions directly from CAD models. BuildOS enables companies to seamlessly transition from design to production while retaining critical tacit knowledge, aggregating and contextualizing it within the design process. As a Technology Partner working alongside Siemens, Dirac has been able to drive enormous value across the Automotive and Aerospace & Defense industries.EthonAI is developing the EthonAI Manufacturing Analytics System (MAS), a powerful software suite designed to achieve operational excellence at scale. The MAS creates a common context across disparate factory data sources, analyzes data using the latest AI techniques, and makes the results accessible through a suite of interoperating applications. The applications within the MAS are specifically tailored to improve operational KPIs such as quality, throughput, uptime, costs and sustainability. Customers using EthonAI have achieved waste reductions of over 50 percent.Haddy is revolutionizing furniture manufacturing with advanced 3D printing and robotics, producing high-quality, sustainable products at a low cost and on a commercial scale. Haddy is building a global network of local micro-factories equipped with hybrid Flexbot systems from CEAD and recycling units that shorten the supply chain and help the environment by reducing waste.Instrumental technology automates failure discovery and root cause analysis in electronics manufacturing — accelerating new product development and improving yield in production. Easy-to-use workflows enable engineers to do failure analysis 100x faster.Tended uses geospatial data and wearable technology to transform the safety of high-risk work environments. The solution provides organizations with enhanced visibility over onsite operations to quickly identify and correct unsafe actions. A high degree of accuracy helps to ensure people, plant and equipment are in the right place at the right time, helping to prevent near misses and accidents.

More information about Siemens for Startups is available at www.siemens.com/startups

This press release is available at:
https://sie.ag/2vXqqh

Follow us at www.x.com/siemens_press

Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably. 

In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/siemens-launches-new-program-to-empower-startups-with-cutting-edge-technology-302344167.html

SOURCE Siemens

Continue Reading

Technology

Tech Mahindra Tops India and Achieves Second Place Globally in the S&P Dow Jones Sustainability Indices 2024 for TSV IT Services Segment

Published

on

By

PUNE, India and NEW YORK, Jan. 7, 2025 /PRNewswire/ — Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, has announced its recognition as a global sustainability leader by S&P Dow Jones Sustainability Indices (DJSI) 2024, one of the world’s most renowned indices for ESG (Environmental, Social & Governance). DJSI has ranked Tech Mahindra as 1st in India and 2nd globally, with an impressive score of 88 and 100 percentile in the ‘TSV IT services’ segment, highlighting the organization’s unwavering commitment to advancing sustainability across its businesses globally.

The TSV IT services segment comprises three divisions: data processing and outsourced services, internet services and infrastructure, and IT consulting & other services. The announcement follows the recent results of the annual Dow Jones Sustainability Indices rebalancing and reconstitution, marking Tech Mahindra’s inclusion in the DJSI World Index and DJSI Emerging Markets for the tenth consecutive year. The DJSI World Index represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index (BMI) based on long-term economic, environmental, and social criteria.

Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “In a rapidly changing world, organizations must commit to sustainability and resilience, ensuring our actions today pave the way for a better tomorrow. Tech Mahindra is proud to celebrate its inclusion in the prestigious Dow Jones Sustainability Indices for the 10th consecutive year. This sustainability milestone is a testament to our commitment to a greener future and reflects our unwavering commitment to environmental responsibility, social impact, and ethical practices.”

Tech Mahindra’s sustainability initiatives are committed to creating a positive environmental impact and achieving ambitious targets, including Net Zero by 2035, Carbon Neutrality by 2030, and attaining 90% renewable energy sourcing by 2030. The organization also aims to become water-positive by 2030 and ensure 100% Zero Waste to Landfill certification across all owned facilities.

Through the implementation of an internal carbon pricing mechanism, Tech Mahindra drives strategic investments in renewable energy, green buildings, and energy-efficient technologies. This reinforces Tech Mahindra’s position as a global leader in sustainability, committed to creating lasting value for its stakeholders and the planet.

For more information on the Dow Jones Sustainability World Indices components, click here.

For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit https://www.techmahindra.com/

Tech Mahindra’s Social Media Channels: Facebook, X, LinkedIn and YouTube

Logo: https://mma.prnewswire.com/media/2539364/Tech_Mahindra_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/tech-mahindra-tops-india-and-achieves-second-place-globally-in-the-sp-dow-jones-sustainability-indices-2024-for-tsv-it-services-segment-302344182.html

SOURCE Tech Mahindra

Continue Reading

Trending