Automotive Magnet Wire Market Report 2026

The automotive magnet wire market size has grown strongly in recent years. It will grow from $5.22 billion in 2025 to $5.48 billion in 2026 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to internal combustion engine production, copper wire dominance, growth of automotive electrical systems, alternator demand, starter motor usage.

The automotive magnet wire market size is expected to see steady growth in the next few years. It will grow to $6.6 billion in 2030 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to electric vehicle adoption, demand for high-efficiency motors, lightweight vehicle design, sustainability-driven material shifts, high-voltage system expansion. Major trends in the forecast period include growing demand from electric motors, shift toward aluminum magnet wire, use of high-temperature insulation materials, expansion of automotive electrification, lightweight wiring solutions.

The rising global sales of electric cars are expected to propel the growth of the automotive magnet wire market going forward. Electric cars depend on traction motors that require substantial volumes of high-conductivity magnet wire to support efficient electromagnetic winding, torque generation, and thermal stability. The increase in electric car sales is driven by stronger government incentives, expanded charging infrastructure, declining battery costs, and growing automaker investments in zero-emission powertrains. Automotive magnet wire supports this growth by enabling reliable and energy-efficient operation of electric vehicle motors, inverters, onboard chargers, and auxiliary systems. For instance, in April 2024, according to the International Energy Agency (IEA), a France-based intergovernmental energy organization, global electric car sales exceeded 14 million units in 2023, expanding the global EV fleet to more than 40 million vehicles and increasing EVs’ share of total car sales to 18%, up from 14% in 2022. Therefore, the rising global sales of electric cars are driving the growth of the automotive magnet wire market.

Major companies operating in the automotive magnet wire market are focusing on developing innovative products such as advanced polyetheretherketone (PEEK) extrusion compounds specifically designed for copper magnet wire insulation in electric motors to improve thermal performance, enhance electrical insulation, and increase durability under high-stress operating conditions. Polyetheretherketone (PEEK) extrusion compounds are high-performance thermoplastic materials known for their superior mechanical strength, chemical resistance, and thermal stability. For instance, in May 2023, Solvay, a Belgium-based polymer manufacturing company, launched KetaSpire KT-857, a PEEK extrusion compound engineered specifically for copper magnet wire insulation used in electric motors. This new insulation material offers improved adhesion to copper magnet wire, overcoming limitations associated with conventional PEEK extrusion techniques.

In March 2023, Elektrisola, a Germany-based manufacturer of magnet wire, acquired Rea Magnet Wire for an undisclosed amount. This acquisition included Rea’s five manufacturing facilities located in Indiana, Connecticut, Virginia, and Mexico, along with its leased corporate offices in Fort Wayne, Indiana. Rea Magnet Wire is a US-based company specializing in the production of automotive magnet wire.

Major companies operating in the automotive magnet wire market report include Sumitomo Electric Industries Ltd., Fujikura Ltd., Superior Essex Inc., Elektrisola Dr. Gerd Schildbach GmbH & Co. KG, Rea Magnet Wire Company Inc., Von Roll Holding AG, Furukawa Electric Co. Ltd., LS Cable & System Ltd., Taihan Cable & Solution Co. Ltd., Sam Dong Co. Ltd., LWW Group, Condumex S.A. de C.V., Magnekon SA de CV, Roshow Technology Co. Ltd., Ningbo Jintian Copper Co. Ltd., Jingda Automotive Co. Ltd., Hitachi Metals Ltd., Dahrén Group, Tongling Jingda Special Magnet Wire Co. Ltd., IRCE S.p.A., Ederfil Becker Group, Elektrisola Feindraht AG.

Asia-Pacific was the largest region in the automotive magnet wire Market in 2025. The regions covered in the automotive magnet wire market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive magnet wire market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The automotive magnet wire market consists of sales of self-bonding wire, polyimide wire, and glass-insulated wire. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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