WILMINGTON, DE / ACCESSWIRE / June 1, 2023 / Transparency Market Research Inc. - The Global Coil Winding Machines Market was valued at US$ 4.1 Bn in 2022 and is projected to record a CAGR of 7.6% from 2023 to 2031 to reach US$ 8.6 Bn by 2031.
The surge in demand for compact, lightweight, and automatic coil winding machines in the electronics industry is propelling the market growth. Significant usage of coil winding machines in a wide range of electronics in the automotive industry is anticipated to accelerate market development.
Rapid advancement in motor and generator designs in recent years has bolstered the coil winding machines market. Novel designs in motors are likely to gain traction in the renewable sector application. An instance is the rise in demand for high-end motors and rotors used in wind turbines. Steady innovation in transformer coil winding machines presents significant growth opportunities for companies in the coil winding machines market. Leading equipment manufacturers in the market are offering programmable semi-automatic coil winding machines to attract customers in end-use industries and increase their market shares.
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Key Findings of Study
- Significant Demand for Coil Winding Machines in Automotive Industry: Extensive utilization of coil winding machines in a range of electronics used in passenger and commercial vehicles is propelling the market. Significant demand for electrical components for the next-generation of vehicles is likely to spur application of automatic and semi-automatic coil winders. Rapid increase in demand for advanced coil winding machines in electric vehicles manufacturing is likely to boost the market value in the next few years. Furthermore, increase in trend of miniaturization of electronics in the automotive industry is expected to fuel coil winding machines market growth.
- Continuous Technological Advancement in Coil Winding Machines to Expand Growth Avenues in Market: Surge in demand for energy-efficient motors, generators, and stators for a wide range of electrical devices is likely to augment market growth. Considerable increase in adoption of portable, lightweight coil winding machines is projected to strengthen market growth in the next few years.
- Rapid pace of expansion in the renewable sector across the globe is a key driver of the coil winding machines market. For instance, extensive utilization of motors and generators for wind turbines is likely to spur the demand for advanced coil winding machines.
- Considerable growth of the electronics industry is a significant driver of the coil winding machines market. A wide range of coil winding equipment is utilized to wind coils for motors, transformers, inductors, and chokes.
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Regional Growth Dynamics
- Asia Pacific is anticipated to constitute the dominant market share of the global coil winding machines industry. Extensive usage of coiled electronics in electrical vehicles (EVs) is driving the application of coil winding machines in the automotive industry. Rapid expansion of the electronics industry in India, Japan, and China is likely to fuel the market in the region (Asia Pacific) in the near future. Recent market trends in the region indicate rapid growth in adoption of semi-automatic and automatic coil winding machines in the automotive end-use industry. This is broadening market outlook.
- North America and Europe are lucrative regions of the global coil winding machines market. Significant rate of adoption of light duty coil winding machines and constant automation in motor winding machines present significant business opportunities for companies operating in these regions.
The business landscape is consolidated, with the presence of a few small-sized and large-sized players. Leading companies in the coil winding machines market are focusing on extensive R&D activities and launch of environmentally-friendly products to sustain the competition.
Prominent companies operating in the market are
- BR Technologies
- Metar Machines
- Jovil Universal
- Micro Tool & Machines Ltd.
- Gorman Machine Corp
- Whitelegg Machines
- Bestec Co. Ltd.
- Nittoku Engineering
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- Automatic Coil Winding Machine
- Semi-automatic Coil Winding Machine
- Light Duty Coil Winding Machine
- Medium Duty Coil Winding Machine
- High Duty Coil Winding Machine
- North America
- Middle East & Africa
- Asia Pacific
- South America
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