The global wire drawing machine market is anticipated to grow at a significant CAGR of 6.7% during the forecast period. The growing automobile industry is the key factor driving the demand for wire drawing machines globally. These wire drawing machines are used in the production of cables, wires, springs, and various other products. The cables play an essential role in the automobile industry for brake, gear, clutch, and other applications. The most commonly used cables in this sector are, battery cables, multi-core screened cables, CAN bus cables, Single-core cables, and others that are produced by the wire drawing machines. Vehicles have an abundance of wiring, which is utilized for transmission and electrical connections. Thus, the wire drawing machines market will grow along with the growth of the automotive sector.
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The COVID-19 pandemic has spread in almost every country across the globe. The COVID-19 pandemic had a negative impact on the sale of the equipment and machinery sector during 2020. There was significant demand for equipment and machinery prior to the COVID-19 pandemic from developed countries, including the UK, US, and China. However, as the pandemic begin the demand for equipment and machinery got drastically reduced. As the COVID-19 situation gets normalized, the market is expected to show a “U” shaped recovery. The report covers an in-depth analysis of the impact of COVID-19 on the wire drawing machine market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Wire Drawing Machine Market Report Segment
By Types
- Bull Block Wire Drawing Machine
- Wet Wire Drawing Machine
- Dry Wire Drawing Machine
- OTO Wire Drawing Machine
- Straight Line Wire Drawing Machine
By Application
- Electrical Wiring
- Cables
- Springs
- Paper Clips
- Spokes of Wheels
- Others
Global Wire Drawing Machine Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global wire drawing machine market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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