Overview of the global wire processing machines market
Market research analysts at Technavio predict that the global wire processing machines market will grow steadily over the next four years and will post a CAGR of more than 9% by 2021. This market research analysis identifies rise in electric vehicle (EV) sales as one of the key growth factors for the global wire processing machines market. Over a decade, there has been an inclination toward the use of EV, and the interest is surging with the introduction of technological advances in EVs. In the EV market, the US is showing a great interest toward the next-generation vehicle technologies. The government in the US is highly investing in R&D to curtail the dependence on petroleum products for transportation. Moreover, the robust financial incentives toward EV will also aid the government in promoting the use of EV. This will in turn, accelerate the growth of the wire processing machines market over the next four years.
The global wire processing machines market is also witnessing the use of advanced technologies, such as lasers in wire stripping for better quality. The CO2 lasers provide greater agility in the process without compromising the quality of the insulating materials. Moreover, the lasers can also deliver better flexibility when compared with the conventional counterparts. Laser stripping can also be used in several types of wires and cables such as single core-wire, twin leads, shielded twisted pairs, multiconductor cables, and others. Such latest innovations in technology will further boost the market’s growth over the years.
Competitive landscape and key vendors
The wire processing machines market is highly fragmented with the presence of numerous vendors. The market is facing intense competition with the presence of small and large vendors offering innovations in technology. Several local and regional vendors in the market are offering customized and energy-efficient equipment at reasonable prices. However, it becomes difficult for the regional vendors to compete with the international vendors in terms of quality, features, functionalities, and services. Technological advances will further intensify the level of competition in the market.
The leading vendors in the market are –
- Schleuniger
- Komax
- Eraser
- Artos Engineering
The other prominent vendors in the market are Arno Fuchs, Carpenter Manufacturing Company, Cheers Electronic Technical, Dongguan City Code Zhen Machinery, Exmore, GLW, Iwiss Electric, KINGSING MACHINERY, KODERA, MAPLELEGEND, Metzner Maschinenbau, MK Electronics, ramatech systems, FRIEDHELM LOH GROUP (Rittal), Schäfer Group, Spectrum Technologies, TE Connectivity, WEZAG, Xiamen Hiprecise Technology, and Zhongshan Jinsheng Automation Machinery.
Market segmentation by geography and analysis of the wire processing machines market
- Americas
- APAC
- EMEA
APAC accounted for a major share of the wire processing machines market during 2016. The growth in the region can be attributed to the growth of the end-user industries such as the automotive, aerospace and defense, and construction. In the automotive segment, countries such as China, India, Japan, and South Korea are the end-users of the wire processing industries market. China registered a robust growth in the automotive production by contributing to almost one-fourth share of the global automotive production. In the aerospace segment, owing to the economic slowdown in China, the country is moving toward a consumption-oriented economy to revive its existing situation. However, the demand for aerospace in the service sector is expected to propel the wire processing machines market.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global wire processing machines market?
- What are the key market trends impacting the growth of the global wire processing machines market?
- What are the challenges to market growth?
- Who are the key vendors in the global wire processing machines market?
- What are the market opportunities and threats faced by the vendors in the global wire processing machines market?
- Trending factors influencing the market shares in the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global wire processing machines market?
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