As per Future Market Insights, the coil winding machine market is anticipated to attain a value pool of US$ 4 billion by 2023-end. Global demand for coil winding machines is expected to rise at a CAGR of 7.2% to US$ 8 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 4 billion |
| Projected Market Value in 2033 | US$ 8 billion |
| Growth Rate (2023 to 2033) | 7.2% CAGR |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The growing demand for renewable energy sources such as wind and solar power is increasing the demand for transformers and generators, which in turn is driving growth in the Coil Winding Machine market. The increasing use of electric vehicles is also contributing to the growth of the market, as the demand for motors and other electrical components is rising.
The coil winding machine market is also driven by the increasing focus on automation and digitization in manufacturing, which is leading to the development of more advanced and efficient coil winding machines. Manufacturers are incorporating features such as automatic wire guidance and tension control, which are helping to increase production speed and improve product quality. The increasing use of programmable controllers, sensors, and other digital technologies is also contributing to the growth of the market.
The growth of the electrical and electronics industry is providing new opportunities for the coil winding machine market. The increasing demand for consumer electronics and other electrical products is driving growth in the market, as manufacturers are looking for more efficient and cost-effective ways to produce these products.
The Asia Pacific region is expected to be the largest and fastest-growing market for coil winding machines, driven by the increasing demand for electrical and electronic products, the growing use of electric vehicles, and the increasing demand for renewable energy. The region is also benefiting from the growing focus on automation and digitization in manufacturing, as manufacturers are incorporating advanced technologies into their machines to improve production efficiency and product quality.
Principal Consultant
The automatic coil winding machine segment offers significant growth opportunities for manufacturers and suppliers in the coil winding machine market. The increasing demand for electrical and electronic products, the growing use of electric vehicles, and the increasing demand for renewable energy are driving growth in the market and creating new opportunities for the automatic coil winding machine segment.
The increasing demand for high-precision and high-quality products is creating new opportunities for the automatic coil winding machine segment, as manufacturers are looking for more efficient and cost-effective ways to produce these products. The growth of the electrical and electronics industry is also providing new opportunities for the segment, as the increasing demand for consumer electronics and other electrical products is driving growth in the market.
The competitive landscape of the coil winding machine market is rapidly evolving, with players vying for a share of this lucrative market. Major companies in the market are focusing on innovation and product differentiation to stay ahead of the curve. Mergers and acquisitions, partnerships and collaborations, and new product launches are some of the key strategies adopted by market players to sustain their competitive advantage. With new entrants entering the market, it is expected to become even more competitive, driving companies to continuously improve their products and services to stay ahead of the curve.
Recent Developments:
Machines used to wind coils for transformers, motors, chokes and inductors are defined as coil winding machines. Designed to use with equal size motor or concentric winding arbors, it is used to wind both three phase motor and single phase motor coil. Electrical coil winding machines are particularly used for winding of passive components those resist current changes. These machines are used in armature cores, field cores, electrical motors, generators, bobbins among others.
Coil winding machines find significant application in automotive industry, the growth in automotive industry is anticipated to create significant opportunities for the market.
Types for coil winding machines include manual and automatic machines. Automatic coil winding machines are designed to wrap, cut, wind and rout with multi bobbin winding, whereas handheld manual coil winding machines are to create evenly wound coils.
For spindle and axes control Automatic ones are also equipped with AC servomotors. Owing the number of applications as well as demand from end use sectors the global coil winding machine market is anticipated to witness moderate growth over the forecast years.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Different industry verticals across the globe including electrical and electronics, automobile have created significant demand for coil winding machines owing to requirement in uses such as wire winding, wire bonding and welding etc. The surge in demand from these industries worldwide, is anticipated to further add in the growth of coil winding machines market. Technologies like 3D printing and material advancements as well as advancements in textiles, growing demand for wearable devices is projected to drive the coil winding machine market growth.
High initial cost of the machines is the factor which may impede the market growth in the coming years. Multi-speed machines in various types & categories are being designed by manufacturers, so as to perform a range of functions in various industry verticals.
The COVID-19 pandemic has impacted the global economy at various levels no industrial sector has been spared. As a result, a substantial slowdown in manufacturing in the first six months of 2020 has been witnessed as it reverberates through every industry.
For the remaining half of the year the outlook remains uncertain as the scope of the pandemic and its effect on production and demand & supply chains which is anticipated to impede the overall global coil winding machine market growth.
In Asia Pacific, significant growth in electronic industry countries such as China, India is anticipated to create significant opportunities for coil winding machine market growth in the coming years.
Increase in the production of electric vehicles with growing automotive industry is anticipated to create significant growth opportunities in North America and Europe. Latin America and Middle East & Africa are anticipated to witness moderate growth in the global coil winding machine market during the forecast years.
Some of the key market participants in the global Coil Winding Machine market, identified across the value chain include:
The research report on the Coil Winding Machine market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Coil Winding Machine market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, aircraft type, and sales channel.
The global Coil Winding Machine market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global Coil Winding Machine market can be segmented on the basis of machine type, operation, spindle number, end use and duty level.
Explore Industrial Automation Insights
View Reports
Coil Winding Machine Market
