Coil Wound Devices Market Size And Forecast

Coil Wound Devices Market size was valued at USD 2.73 Billion in 2022 and is projected to reach USD 4.04 Billion by 2030, growing at a CAGR of 5.0% from 2023 to 2030.

The advancement and replacement of aging power infrastructure worldwide along with smart grid technology adopted by various countries across the globe is driving the growth of the Global Coil Wound Devices Market. The Global Coil Wound Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Coil Wound Devices Market Definition

Electrical components known as coil wound devices make use of coils to produce or regulate electric currents. These gadgets have a variety of uses, such as in the mining, energy, industrial machinery and equipment, and transportation industries. An electromechanical device called a coil wound device uses an electric current to produce a magnetic field. Different sizes and shapes of coil wound devices are available. For instance, a single-layer solenoid is made from a wire wrapped around one core, and an electromagnet is made from numerous wires wrapped around a core made of multiple layers or coils.

Coil wound devices are those that detect the magnetic field created by alternating electric currents using induction coils with ferromagnetic cores. An essential component of the electronic circuit is the coil. A magnetic field is created by the coil and is used to power electronic equipment like motors and generators. The coil wound devices are used in a variety of end-user industries, including transportation, mining, industrial machinery, and energy.

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Global Coil Wound Devices Market Overview

The demand for effective coil wound devices has increased for many industries, including food and beverage, pharmaceutical, automotive, and agriculture, among others, consumption around the world has increased. The shipment of electronic gadgets and appliances has increased as a result, which has further fueled the expansion of the market for coil wound devices worldwide.

Urbanization is also growing at a healthy pace. The expansion of both the service and manufacturing sectors has simultaneously had a beneficial impact on and contributed to the rise of the global GDP. These reasons lead to increasing expenditure on smartphones, which eventually affects the market for coil wound gadgets. The adoption of the “smart grid” strategy in industrialized nations and rising government spending on upgrading the current electrical system are both driving up demand for coil wound devices in transformers and other devices.

However, various obstacles are preventing the global market for coil wound devices from expanding. The continuous shift to renewable energy has stalled since the United States withdrew from the 2015 Paris Climate Agreement. These decisions are anticipated to have a negative influence on the market for passive components, which was invested in the creation of environmentally friendly technologies for alternative energy.

Global Coil Wound Devices Market: Segmentation Analysis

The Global Coil Wound Devices Market is Segmented on the basis of Product, Application, End User, And Geography.

Coil Wound Devices Market, By Product

• Sensors
• Bobbins
• Electromagnetic Coils
• Solenoids
• Lightning Coil

Based on Product, the market is bifurcated into Sensors, Bobbins, Electromagnetic Coils, Solenoids, and Lightning Coil. The electromagnetic coils segment is anticipated to dominate the Coil Wound Devices Market. The electromagnetic coils find their uses in applications where electric currents interact with magnetic fields in devices such as generators, inductors, electric motors, transformers, and other devices.

Coil Wound Devices Market, By Application

• Motors
• Transformers
• Valves and Actuators
• Other

Based on Application, the market is bifurcated into Motors, Transformers, Valves and Actuators, and Other. The electric motor segment is anticipated to dominate the market. Electric motors help in converting electrical energy into mechanical energy and find a wide range of applications across various industries.

Coil Wound Devices Market, By End User

• Transportation
• Industrial Machinery & Equipment
• Medical Devices
• Mining
• Energy

Based on End User, the market is bifurcated into Transportation, Industrial Machinery & Equipment, Medical Devices, Mining, and Energy. The industrial machinery and equipment segment is dominating the market. The transportation segment was valued at USD 18.2 Billion in 2021.

 Coil Wound Devices Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of a Regional Analysis, the Global Coil Wound Devices Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The dominance of the North American region is attributed to the increasing government approach toward the adoption of alternative energy sources and high expenditure on renewable energy projects. The presence of major players in the region is also supporting the growth of the Coil Wound Devices Market.

 Key Players

The “Global Coil Wound Devices Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as ABB, Honeywell, Parker Hannifin Corporation, Danaher Corporation, SIEMENS, Murata Manufacturing, TDK Corporation, Standex Electronics, Amtek Switch, and TE Connectivity.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Coil Wound Devices Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Coil Wound Devices Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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