Top 3 Trends Impacting the Global Winding Wire Market Through 2021 | Technavio

October 12, 2017

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest market research report on the global
winding wire market provides an analysis of the most
important trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.


The global winding wire market is growing at a steady rate. In 2016, the
market experienced high demand from APAC, followed by EMEA. In recent
times, the rise in urbanization along with an increase in
industrialization in the developing nations is likely to fuel the demand
for winding wires as these wires are used in a variety of industries.

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The top three emerging market trends driving the global winding wire market
according to Technavio research analysts are:

  • Rise in smart grid infrastructure
  • Increasing use of submersible winding wires
  • Growth of T&D infrastructure

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Rise in smart grid infrastructure

The economy, health and safety, and national security of any nation
depend on the reliable delivery of electricity. The electricity grid is
not just about power generation and transmission. It also includes an
ecosystem of service providers, manufacturers, asset owners, and
government officials at the local, state, and federal levels working
together to run a reliable electrical grid.

The development of smart grids across the globe is leading to the
adoption of new metering technologies, better power protection measures,
and use of efficient appliances. Smart electric grids involve the use of
technology that allows two-way communication between the customers and
the utility along with sensing along the power transmission lines.

“With an increasing focus on renewable energy, especially in
developing nations such as India, several governmental initiatives are
being undertaken which includes Green Energy Corridors, Smart Grid
Vision, UDAY reform, ISA, strengthening of national grids, and
hybrid/electric vehicles. Thus, the rate of installation of smart grids
is likely to rise during the forecast period, which will have a positive
impact on the global winding wire market,” says Anju Ajaykumar, a
lead analyst at Technavio for engineering
tools research.

Increasing use of submersible winding wires

With the increase in the demand for power, it becomes crucial that the
overall efficiency of heavy industries, as well as the electronic
devices used by them, also increases. One such advancement is
submersible winding wire, which has improved the performance of the
conducting agents. Winding wire is one of the critical components of any
electronic device and is responsible for the transference of the charge
to and from the device to ensure its continuous operation.

Heavy industries face many adverse working conditions. In such
conditions, machines are prone to mechanical abrasion and corrosion.
Apart from high-temperature and pressure conditions, some situations
require the underwater operation of these electronic devices. In
conditions where normal insulated wires are prone to breaking down, thus
posing threats to safety, submersible stainless-steel wires have proven
to be beneficial.

Growth of T&D infrastructure

T&D infrastructure is the backbone of the power system as it facilitates
the delivery of electricity from the power stations to end consumers.
The power generation plant produces energy at a relatively low voltage.
Transformers raise the voltage level to enable the transportation of the
energy and to minimize energy losses. Owing to their importance, T&D
networks are expanding in both the developing and developed economies.
This is driving the global winding
wire market.

“In North America, utilities are investing substantially in
upgrading, replacing, and expanding the existing T&D infrastructure and
establishing new infrastructure to improve the capacity and reliability
of the T&D networks and to comply with the long-term regulatory
requirements and incentives. Developing countries such as China, are
emerging as a huge potential market for winding wires since they are
used in a range of equipment in the power segment,” says Anju.

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