GCC Winding Wire Market

GCC Winding Wire Market Overview

GCC winding wire market is predicted to increase during the forecast period. Winding wire is also known as magnet wire which is made from copper or aluminium and used to build coils in electronic components. These wires are used across various industries such as energy, industrial, infrastructure, among others.

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Major GCC Winding Wire Market Drivers

Increased demand for winding wires from end-use industries along with the infrastructural development across the GCC countries is driving the winding wire market. Rising focus on energy efficient winding wire along with the increasing demand from energy sectors is supporting the market growth. Other factors like rising investment on technological advancement in the electrical industry and increasing use of winding wire for the production of electric vehicles has positively impacted on the market expansion. High usage of winding wires in motors which are used in manufacturing, electronics and transportation industries owing to the unique properties such as better dielectric strength, insulation and thermal resistance. However, strict regulations regarding the harmful emissions and high fluctuations in the raw material price is expected to hinder the GCC magnet wire market growth.

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Aluminum winding wire is expected to increase at the highest CAGR during the forecast period due to the price fluctuations in copper has increased the sale of aluminium as it offers stable and lower price as compared to others.

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UAE winding wire market is projected to grow at the fastest rate over the next seven years owing to the high demand for winding wire in the telecom industry across the country. Rapid growth in the construction of smart cities along with the investment in various projects such as shopping malls, theme parks, among others.

Segments covered in the Report:

The GCC Winding Wire Market has been segmented on the basis of Type, Shape and End-use Industries. Based on the Type, the market is segmented into copper magnet wire, Aluminum magnet wire. Based on the Shape, the market is segmented into Round, Rectangle, Square. Based on the End-use Industries, the market is segmented into Electrical & Electronics, Industrial, Transportation, Infrastructure, Others.

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Market Segmentation

GCC Winding Wire Market by Type

• • Copper magnet wire
  • Aluminum magnet wire

GCC Winding Wire Market by Shape

• • Round
  • Rectangle
  • Square

GCC Winding Wire Market by End-use Industries

• • Electrical & Electronics
  • Industrial
  • Transportation
  • Infrastructure
  • Others