Coil Winding Machine Market Report 2023 (Global Edition)

What is a Coil Winding Machine?

The coil winding machine market is witnessing growth due to several factors. Increased demand for electronic components, electric vehicles, and renewable energy systems has driven the need for efficient coil winding processes. Automation and precision in winding coils have become essential in manufacturing, contributing to market expansion. Additionally, the growth of the electronics and automotive industries and technological advancements further fuel the demand for coil-winding machines to meet the evolving requirements of various applications.

Key Insights from?Coil Winding Machine Market Report:

The global Coil Winding Machine market will be USD 4.2 billion in 2023 and grow at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2030.

To know more about The Coil Winding Machine Market statistics click here: https://www.cognitivemarketresearch.com/coil-winding-machine-market-report

What is driving the Coil Winding Machine Market?

Growing Need for Renewable Energy Sources to Provide Viable Market Output

The growing need for renewable energy sources is a significant Coil Winding Machine Market driver. Renewable energy technologies, such as wind turbines and electric vehicle motors, rely heavily on coils and transformers for efficient energy conversion and transmission. As the demand for clean energy solutions continues to rise, so does the need for advanced and precise coil winding processes. Coil winding machines play a pivotal role in manufacturing the coils used in renewable energy applications, making them essential tools to meet the increasing global demand for sustainable energy solutions, thereby driving market growth.

High Cost of Equipment to Hinder Market Growth (Available on- https://www.cognitivemarketresearch.com/coil-winding-machine-market-report)

Market Segmentation:

Machine Type:

• CNC Linear/Toroidal Winding Machines
• Armature Coil Winding Machines
• Transformer Coil Winding Machines

End Use:

• Automotive
• Electronic
• Textile
• Building
• Others

Operation:

• Manual Coil Winding Machine
• Semi-Automatic Coil Winding Machine
• Automatic Coil Winding Machine

Spindle Number:

• Single Spindle
• Multi Spindle

Duty Level:

• Light duty
• Medium Duty
• heavy Duty

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Competitive Analysis for Coil Winding Machine Market:

AMADA WELD TECH INC. , FANUC America Corporation , Miller Electric Mfg. LLC , Panasonic Welding , iDEAL-Werk C.+E. Jungeblodt GmbH + Co.KG , OTC DAIHEN, Inc. , NIMAK GmbH , SKS Welding Systems GmbH

(Available on- https://www.cognitivemarketresearch.com/coil-winding-machine-market-report)

North America Coil Winding Machine Market dominated the global market

According to Cognitive Market Research, North America dominated the market in 2023 and accounted for a share of more than 38% of the global revenue due to several variables. Due to several key factors, North America has captured the largest market share in the Coil Winding Machine Market. The region boasts a robust manufacturing sector, including automotive, electronics, and renewable energy, which heavily rely on coil-wound components. Moreover, technological advancements and a strong emphasis on automation have propelled the demand for precise winding machines. North America’s investment in research and development, innovation, and high-quality manufacturing practices has solidified its position as a significant market player.

News:

• March 2021: LS Cable & System Ltd. has officially become the exclusive supplier of enameled magnet wire used in the drive motors of Kia EV6 and IONIQ 5 electric vehicles. Additionally, the company is actively engaged in research and development efforts to enhance high-voltage magnet wires, with potential applications in electric vehicles produced by General Motors.
• February 2021: Essex Furukawa has completed the deployment of Sight Machine as part of their digital transformation strategy for their magnet wire plant in Mexico. Implementing the Sight Machine aims to enhance the production of magnet wire, which is crucial for electric vehicle manufacturing.
• October 2020: Superior Essex Inc., the parent company of prominent magnet wire manufacturers Furukawa Electric Co., Ltd. and Essex Magnet Wire, successfully established a joint venture named Essex Furukawa Magnet Wire LLC. This collaboration has led to expanding their magnet wire product range and a broader customer reach, leveraging the collective strengths of the participating companies.

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