Rockville , Jan. 03, 2024 (GLOBE NEWSWIRE) -- The coil wound device market is expected to grow at a 5.4% CAGR between 2024 and 2034, according to Fact.MR By 2034, the global market for these products is expected to reach US$ 3,805.7 million. According to Fact MR, a provider of market research and competitive intelligence, the global coil wound device market is rapidly growing and is expected to continue its growth trajectory in the coming years.
The growing emphasis on electrification extends beyond consumer vehicles to include electric buses, trucks, and other forms of transportation. The trend can contribute to increased demand for coil wound devices in electric propulsion systems and charging infrastructure.
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The demand for lightweight materials in various industries, including automotive and aerospace, may drive the need for advanced coil wound devices that offer high performance without adding significant weight.
The integration of smart technologies, such as sensors and communication modules, into coil wound devices can provide real time data monitoring, predictive maintenance, and other advanced functionalities, adding value to end-users.
The rise in demand for electric motors in various applications, from industrial machinery to household appliances, can drive the need for high performance coil wound devices in motor components.
The trend towards customization and modular designs in electronics allows for more flexibility in meeting specific application requirements. Coil wound device manufacturers that can offer customized solutions may find increased demand.
Recent disruptions in global supply chains have highlighted the importance of resilience. Companies in the coil wound device market may focus on optimizing their supply chains to ensure a steady and reliable flow of materials.
| Report Attribute | Details |
| Value Projection (2034) | US$ 3,805.7 million |
| Growth Rate (2024-2034) | 5.4% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 144 Figures |
Key Takeaways from the Market Study
- In 2024, the global coil wound device market is estimated to have a global market size of US$ 2,249.0 million.
- The bobbins are expected to dominate the market, with a market share of 27.1% in 2034.
- The transformers category is expected to hold a market share of 47.9% in 2024.
- China is predicted to acquire a 57.5% of the global market share in 2024.
- East Asia is expected to account for a CAGR of 5.7% by 2034.
“Collaborative efforts between coil wound device manufacturers and electronics manufacturers can lead to the development of integrated solutions that meet the evolving needs of electronic devices and systems,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- ABB
- Honeywell International Inc.
- Parker Hannifin Corporation
- Danaher Corporation
- SIEMENS AG
- Magnet-Schultz of America Inc.
- Murata Manufacturing Co., Ltd.
- Emerson
- Schneider Electric
- TDK Corporation
- Asco Valve
Competitive Landscape
The coil wound devices market is shaped by pricing, distribution channels, customer service, and regulatory compliance to gain a competitive edge. Adapting to market dynamics and staying abreast of technological advancements are essential for sustained success in this dynamic industry.
Company Portfolio
- General Electric is a multinational conglomerate with operations in various sectors, including power, renewable energy, healthcare, and aviation. Their portfolio may include coil wound devices for industrial applications.
- Schneider Electric is a global company specializing in energy management and automation. The company offers a range of industrial solutions, including coil wound devices for different applications.
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Country-wise Insights
By 2034, North America is expected to account for 28.0% of the global market. The performance of coil wound devices can be improved by advances in materials science, such as the creation of novel materials with improved electrical and thermal properties.
What is the Scenario of the Market in the United States?
“Electrification Trends to Augment the Growth”
By 2034, the United States is expected to own 76.1% of the North American market. Coil wound devices are in demand because of the continuous development of electrification in many industries, including transportation and industrial applications. These devices are utilised in electric motors, transformers, and other electronic components.
The need for coil wound devices, which are utilised in electric drivetrains, charging infrastructure, and auxiliary systems within EVs, is fueled by the expansion of the electric vehicle market in the United States. The nation's coil wound device makers can become more efficient and competitive by implementing sophisticated manufacturing technologies, such as automation and precision coil winding techniques.
In the process of developing and modernising electrical infrastructure, government programmes and investment plans pertaining to smart grids, power distribution, and energy efficiency all increase the need for coil wound devices.
Explore More Related Studies Published by Fact.MR Research:
Electric Motors for Electric Vehicle Market: North America and Europe are the two leading regions expected to reign in this industry in the coming years.
Electric Vehicle Components Market: The global electric vehicle component market is valued at USD 148.32 Billion in 2022. The market is further expected to gain size of USD 1001.95 Billion by the year 2032.
Low Voltage Motors Market: Worldwide demand for low voltage motors is predicted to rise at a healthy CAGR of 6.8% from 2023 to 2033. At present, the global low voltage motors market is valued at US$ 41.20 billion and is thus expected to touch a valuation of US$ 79.55 billion by 2033.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global coil wound device market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024 to 2034.
The study reveals essential insights based on coil wound device market analysis by device type (sensors, bobbins, electromagnetic coils, solenoids, lightning coil), by application (electrical motors, transformers, valves and actuators, switches, contractors and relays, other electrical devices), and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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