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According to a report released by Technavio, an international market research institute, the aluminum wire rod market in Europe is likely to grow by 121,130 tons during the period 2021-2025, and the growth momentum of the market will accelerate
at a compound annual growth rate of 1.
56%.
Aluminum is widely used in the manufacture of cables and conductors
due to its light weight and high conductivity.
Expansion of transmission and distribution networks and growing demand for cables and conductors are likely to drive the growth of
the aluminum wire rod market in Europe during the forecast period.
At the same time, with the increase of underground transmission lines, changes in power distribution systems will drive the demand
for cables in Europe.
The rapid growth of renewable energy is also expected to generate demand
for power cables.
In addition to the above factors, the post-COVID-19 impact has led to a decline
in demand for cables and conductors due to disruptions in regional supply chains and economic downturns in all European countries.
Although copper has better conductivity than aluminum, the consumption of aluminum in cable and conductor applications is increasing
due to factors such as greater strength/weight ratio, price-cost, etc.
Aluminum has been successfully used as a conductor material for end-use applications such as low-voltage transformers, and these advantages of aluminum wire rod will drive the growth
of the aluminum wire rod market size in Europe.
The report also noted that the aluminum wire rod market in Europe is fragmented, and suppliers are deploying various organic and inorganic growth strategies to compete in the market
.
The growth of the aluminum wire market share in Europe in the cable and conductor market will be considerable during the forecast period
.
Aluminum wire rod is used to manufacture a wide variety of cables and conductors
due to its low cost and high conductivity.
Excellent characteristics such as the light weight and relatively cost-effective characteristics of aluminum cables are what motivate them to replace the use of copper cables.
Some key factors
.
According to a report released by Technavio, an international market research institute, the aluminum wire rod market in Europe is likely to grow by 121,130 tons during the period 2021-2025, and the growth momentum of the market will accelerate
at a compound annual growth rate of 1.
56%.
Aluminum is widely used in the manufacture of cables and conductors
due to its light weight and high conductivity.
Expansion of transmission and distribution networks and growing demand for cables and conductors are likely to drive the growth of
the aluminum wire rod market in Europe during the forecast period.
At the same time, with the increase of underground transmission lines, changes in power distribution systems will drive the demand
for cables in Europe.
The rapid growth of renewable energy is also expected to generate demand
for power cables.
In addition to the above factors, the post-COVID-19 impact has led to a decline
in demand for cables and conductors due to disruptions in regional supply chains and economic downturns in all European countries.
Although copper has better conductivity than aluminum, the consumption of aluminum in cable and conductor applications is increasing
due to factors such as greater strength/weight ratio, price-cost, etc.
Aluminum has been successfully used as a conductor material for end-use applications such as low-voltage transformers, and these advantages of aluminum wire rod will drive the growth
of the aluminum wire rod market size in Europe.
The report also noted that the aluminum wire rod market in Europe is fragmented, and suppliers are deploying various organic and inorganic growth strategies to compete in the market
.
The growth of the aluminum wire market share in Europe in the cable and conductor market will be considerable during the forecast period
.
Aluminum wire rod is used to manufacture a wide variety of cables and conductors
due to its low cost and high conductivity.
Excellent characteristics such as the light weight and relatively cost-effective characteristics of aluminum cables are what motivate them to replace the use of copper cables.
Some key factors
.
