Market Size of Copper Stranded Wire Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 1.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Copper Stranded Wire Market Analysis
The copper-stranded wire market is estimated to register a CAGR of 1% over the forecast period.
- The COVID-19 pandemic significantly impacted the copper-stranded wire market's growth in 2020 and 2021 due to several factors, such as nationwide lockdowns and a decline in investments. The pandemic severely affected the economies of many countries around the globe, which adversely affected the construction of housing units.
- Unemployment, the shutting down of businesses, and the decreasing purchasing power of countries negatively impacted the housing unit sector during the pandemic. Additionally, delaying projects due to a shortage of labor, disruption in the supply chain of materials, and an upward surge in material prices, among others, significantly impacted the construction of housing units globally. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the medium term, the major factors driving the market include increasing energy requirements and developing products with more flexible and functional applications. On the flip side, loss of energy due to the proximity effect is expected to hinder the market's growth significantly.
- Increasing usage in infrastructure, telecommunications, energy, etc., and activities in emerging economies are likely to act as opportunities in the future. Asia-Pacific is expected to dominate the global market during the forecast period.
