Coil Wound Devices Market Size, Share, Growth, and Industry Analysis, (Sensors, Bobbins, Electromagnetic Coils, Solenoids, Lightning Coil and Others), By Application (Transportation, Industrial Machinery & Equipment, Medical Devices, Mining, Energy and Others), Regional Insights and Forecast to 2031

Updated On: 08 April 2024

COIL WOUND DEVICES MARKET REPORT OVERVIEW

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The global coil wound devices market size was USD 16950 million in 2019 and the market is projected to touch USD 20740 million by 2026, exhibiting a CAGR of 2.9% during the forecast period.

Coils are used in electrical components known as coil wrapped devices to generate or control electric currents. These devices find several applications in the mining, energy, transportation, and industrial machinery and equipment sectors. An electric current is used by an electromechanical device known as a coil coiled device to create a magnetic field. Coil wrapped devices come in many forms and sizes. An electromagnet, for example, is constructed from many wires wound around a core consisting of multiple layers or coils, whereas a single-layer solenoid is built from a single wire wrapped around a single core.

Devices with ferromagnetic core induction coils are used in coil wound devices to sense the magnetic field produced by alternating electric currents. A coil is a necessary part of an electrical circuit. Electrical devices such as generators and motors are powered by the magnetic field produced by the coil. Many end-user sectors, such as mining, transportation, energy, and industrial machines, employ coil wrapped devices.

COVID-19 Impact: Pandemic Effectuated Strict Lockdown and Travel Bans Hampered the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has significantly harmed the functioning of almost every sector. Global regulatory bodies have enforced stringent travel bans and lockdowns in response to the COVID-19 pandemic scenario. Moreover, this has greatly influenced the expansion of the rheometer market. The supply chain systems were disrupted by the COVID-19 pandemic because a large number of necessary materials and equipment are largely imported from other countries. Furthermore, the sectors' output rates decreased as a result of having to employ fewer people to comply with the regulatory bodies' strict guidelines about social distancing. Therefore, each of these factors had a negative impact on the coil wrapped device industry.

LATEST TRENDS

"Rising Adoption and Surge in Demand for Electric Vehicles to Enlarge the Market Share"

The market for coil wound devices has been significantly influenced by the growing use of electric cars. The market is expanding overall because coil wrapped components are crucial to electric motors and the power electronics found in EVs. One major reason propelling the coil wound devices market is the increase in the use of electric vehicles (EVs). Electric motors, power inverters, and charging systems, among other applications, depend on coil wrapped components, which are also utilized by EVs.

COIL WOUND DEVICES MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into sensors, bobbins, electromagnetic coils, solenoids, lightning coil and others.

Sensors: To detect and measure physical qualities like temperature, pressure, proximity, or magnetic fields, coil wrapped sensors use the principles of electromagnetic induction. extensively utilized in consumer electronics, automotive systems, industrial automation, and a range of monitoring and control applications.

Bobbins: Wire is coiled around the cylindrical or spool-shaped bobbins. They organize and assist the coil winding process structurally. frequently used to hold and support the coiled wire in transformers, inductors, and other electromagnetic devices.

Electromagnetic Coils: These coils are made of wire twisted around a central core. An electric field is created in the wire when an electric current passes through it. found in many different devices, including as inductors, electric motors, transformers, and relays. In the process of transforming electrical energy into magnetic energy, they are essential.

Solenoids:Devices known as solenoid consist of a coil twisted into a helix form. A plunger or armature moves as a result of the magnetic field created when an electric current flows through the coil. utilized in actuators, valves, and door locks, among other applications. To translate electrical energy into linear motion, one uses solderoids.

Lightning Coil: Historically speaking, lightning coils refer to a particular kind of coil used in early spark gap radio transmitters. They are sometimes referred to as spark coils or lightning transformers. For the purpose of communication, these coils produced high-voltage sparks. For certain uses, such as particular kinds of scientific studies, historical present counterparts in high-voltage applications could still be pertinent.

• By Application

Based on application the global market can be categorized into transportation, industrial machinery & equipment, medical devices, mining, energy and others.

Transportation: The propulsion systems of electric vehicles depend heavily on coil wrapped equipment, such as transformers and electric motor coils. used in automobiles with internal combustion engines to provide spark plugs with high-voltage electrical pulses. used in automotive applications for automatic gearboxes, door locks, and starting systems. improves the performance and efficiency of both conventional and electric cars, aiding in the shift to greener, more energy-efficient modes of transportation.

Industrial Machinery & Equipment: The operation of electric motors used in a variety of industrial machinery depends on coil wound components, such as stator and rotor coils. found in control systems, power supply units, and other electrical devices. utilized in locking mechanisms, material handling, and valve control applications in industrial automation. improves industrial operations' accuracy and efficiency, aids in automation, and offers dependable power delivery.

Medical Devices: Radiofrequency coils for magnetic resonance imaging (MRI) equipment are built using coil wrapped components. used in a variety of medical devices to provide functions including precise motion control and valve control. utilized in medical power supply and equipment's electronic parts. assures dependable power supply, permits accurate control of medical equipment, and facilitates sophisticated medical imaging.

Mining: Electric motors and generators used in mining equipment are equipped with coil wrapped devices. utilized in mining enterprises' power distribution networks. used in many different applications, including as equipment automation and valve control. increases mining equipment dependability and efficiency, promotes energy efficiency, and guarantees stable power distribution.

Energy: It is utilized to increase or decrease voltage in power generating, transmission, and distribution networks. vital parts of electric generators utilized in different energy production techniques. used for filtering and energy storage in power electronics. promotes the effective production, distribution, and use of energy. helps to create smart grid technologies and renewable energy sources.

DRIVING FACTORS

"Renewable Energy Integration and Energy Efficiency to Electrify the Market Growth"

The need for parts for solar inverters, wind turbines, and other renewable energy systems is driving the Coil Wound Devices market as the globe continues to prioritize alternative energy sources. The need for sophisticated coil wrapped devices is fueled by the growth of smart grids and the emphasis on energy efficiency in power distribution. These gadgets contribute to improving electrical systems' functionality and effectiveness.

"Rise in Electronic Devices with Trend Towards Lightweight Designs to Multiply the Market Share"

The need for small and effective coil wrapped components is driven by the ongoing development and shrinking of consumer electronics products. Numerous consumer gadgets, such as wearables, computers, and smartphones, employ these components. Numerous electrical equipment have seen a trend toward lightweight design and downsizing. The need for lightweight, small products—like those seen in consumer electronics and portable devices—is what's driving this trend.

RESTRAINING FACTOR

"Size, Weight and Sensitivity to Environmental Factors to Hammer the Market Growth"

Even though coil wrapped devices are crucial parts of many applications, there are several limits that need to be taken into account while designing and using them. Coil wrapped devices may be heavy and cumbersome, particularly in applications that call for high inductance or high power levels. This restriction could have an impact on uses where weight and space are crucial, such in aircraft or portable electronics. Devices with coil wounds may be susceptible to vibrations, temperature changes, and humidity. Hence, such factors are expected to hinder the coil wound devices market growth during the forecast period.

COIL WOUND DEVICES MARKET REGIONAL INSIGHTS

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"Asia Pacific with Presence of Robust Electronics Manufacturing Ecosystems to Lead the Market Growth"

"The market is primarily segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa."

China, Japan, South Korea, Taiwan, and other nations in the Asia-Pacific area have been major producers of electrical and electronic components, especially coil wrapped devices. Asia Pacific coil wound devices market share is dominant due in part to a strong ecosystem supporting the electronics manufacturing industry, affordable labor, and easy access to raw materials.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important industry players have a big impact on the market and are crucial in determining customer preferences and market dynamics. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. These industry titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to coil wound devices to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

List of Market Players Profiled

• ABB (Switzerland)

• Honeywell International

• Parker Hannifin (U.S.)

• Danaher (U.S.)

• SIEMENS (Germany)

• Magnet-Schultz (Germany)

• Murata Manufacturing (Japan)

• Emerson (U.S.)

• Schneider Electric (France)

• TDK (Japan)

• Asco Valve (U.S.)

• Hubbell Industrial (U.S.).

INDUSTRIAL DEVELOPMENT

• August 2021: For £6.3 billion, the business has agreed to purchase the British aerospace and military manufacturer Meggitt.The takeover was authorized by the Secretary of State for Business, Energy, and Industrial Strategy in July 2022, following their pledges to the UK government to increase research and development investment domestically. The Competition and Markets Authority was not consulted throughout this process.The acquisition completed in September 2022.

• December 2022: After investing $150 million, ABB inaugurated a new robotics plant spanning 67,000 square meters in Shanghai.

REPORT COVERAGE

The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.