Reports
Global Steel Wire Rope Market: Regional Analysis; Key Segmentation and Scope; Industry Opportunities and Challenges; Market Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Trade Data Analysis; Industry Events and Developments; Manufacturing Process; Competitive Landscape, 2024-2032
Steel Wire Rope Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices
The global Steel Wire Rope market reached a value of about USD 9564 million in 2021. The industry is projected to grow at a CAGR of around 3.4% in the forecast period of 2022-2027 to reach a value of about USD 12450 million by 2027.
The global Steel Wire Rope industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The use of the product in various end-user sectors is driving the market growth. The Asia Pacific is the highest category spender by region, driving the Steel Wire Rope industry demand.
Industry Definition and Segmentation
Steel wire rope is a type of machinery made up of multiple strands of steel wire twisted together to form a helix. It is the favoured lifting device used extensively in construction, mining, oil and gas extraction, and other industries. Steel wire ropes are often formed of wires, strands, and a steel and fibre core. Strength, flexibility, abrasion resistance, and rotation resistance are just a few advantages. The Steel Wire Rope industry report comprises segments by Type of Lay (Regular Lay, Lang Lay, Alternate Lay), Strand Pattern (Single Layer, Filler Wire, Seals, Warrington, Combination), Steel Type (Stainless Steel, Galvanized Steel), Coating Type (Vinyl, Zinc, Nylon, PVC, Others), Application (Oil and Gas, Heavy Machinery, Mining, Marine, General Engineering, Construction, Others) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
The Asia Pacific Regions are Driving the Growth of the Steel Wire Rope Industry
The Asia Pacific holds the largest share in the industry as Steel wire rope consumption and sales are high throughout the region, notably in China, Indonesia, and India. The industry's development is predicted to be healthy in Asian nations such as China, India, Indonesia, Thailand, and Malaysia. China's steel wire rope business has grown significantly over the last decade, owing to increases in steel output and expenditures on infrastructure for lifting and motion applications.
The extensive application of the product in numerous end-user divisions, involving marine and fisheries, industrial and crane, and mining is driving the progress of the industry. Furthermore, the oil and gas, marine, and mining sectors are propelling the global steel wire rope market. The mining industry is predicted to increase steadily, And Steel wire makers are projected to focus more on countries that produce and import a significant amount of steel. Increased use in the industrial & crane, mining, and construction sectors is driving APAC's steel wire rope market.
Best Procurement Practices
The global Steel Wire Rope industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Steel Wire Rope regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
Steel wire rope comprises numerous strands of metal wire twisted into a helix to make a composite "rope" in the "laid rope" pattern. Larger diameter wire rope contains many strands of such lay rope in a "cable laid" design. The bulk of steel wires used to make wire ropes is non-alloy carbon steel with a carbon content ranging from 0.4 to 0.95 percent. Steel mills use a hot rolling technique to produce wire rods from billet and later the most used material for wire ropes. The design of a finished wire rope comprises four essential elements: Wires made from metal that form a particular strand, multi-wire strands laid around a core in a spiral pattern, A fibre or steel core, and Lubrication.
Properties of the Product, Further Boosting the Procurement of Steel Wire Rope
The various properties of the wire-like being light, intense, low specific gravity, excellent flexibility, corrosion resistance, and easy to form are boosting demand. Different ropes are chosen in these industries because of their exceptional impact resistance, durability, high strength, abrasion resistance, and corrosion resistance. Steel wire is gaining a lot of popularity due to its advantages of being lightweight, robust, and having a low specific gravity. Furthermore, benefits such as strong corrosion resistance and excellent impact resistance contribute to the market's expansion.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
Key Industry Players Mentioned in the Steel Wire Rope Industry Report
- Cortland Limited
- Anchor Industries Pty Ltd
- Samson Rope Technologies, Inc.
- Chung Woo Rope Co. Ltd
- Teufelberger Holding AG
Market Landscape
The worldwide steel wire rope industry is quite competitive because several new companies are joining the sector due to the current profit-generating potential. Even though many companies contribute to the industry's growth, the market is dominated by a few key players. As a consequence of the industry's competitive environment, numerous competitors are taking various strategic initiatives to ensure a long-term future in the worldwide steel wire rope and plastic rope market. The businesses are concentrating on mergers, acquisitions, and partnerships to gain the required resources to compete in the market.
Key Initiatives by Companies
- WireCoWorldGroup announced the launch of its distribution hubs in Portland in October 2018. The corporation was able to expand its reach to enterprises in the northwest United States due to this strategy. Consequently, the firm will be able to create value in the form of improved customer acquisition and profit creation, resulting in a stronger position in the global steel wire rope and plastic rope industry.
- Teijin Limited stated in August 2019 that it had finalised the acquisition of all of Renegade Materials Corporation's shares. Teijin Limited was able to develop its operations in the carbon fibre and steel ropes sectors due to the purchase. Teijin Limited will use Renegade Materials Corporation's proven technology to expand its product offering. This purchase also gave Teijin Limited a competitive advantage over its competitors regarding increased and upgraded production capacity and technology for a long-term future in the global steel rope and plastic rope markets.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Steel Wire Rope Market Analysis
8.1 Key Industry Highlights
8.2 Global Steel Wire Rope Historical Market (2017-2021)
8.3 Global Steel Wire Rope Market Forecast (2022-2027)
8.4 Global Steel Wire Rope Market by Type of Lay
8.4.1 Regular Lay
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Lang Lay
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Alternate Lay
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.5 Global Steel Wire Rope Market by Strand Pattern
8.5.1 Single Layer
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Filler Wire
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Seals
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Warrington
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Combination
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
8.6 Global Steel Wire Rope Market by Steel Type
8.6.1 Stainless Steel
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Galvanized Steel
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.7 Global Steel Wire Rope Market by Coating Type
8.7.1 Vinyl
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2017-2021)
8.7.1.3 Forecast Trend (2022-2027)
8.7.2 Zinc
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2021)
8.7.2.3 Forecast Trend (2022-2027)
8.7.3 Nylon
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2017-2021)
8.7.3.3 Forecast Trend (2022-2027)
8.7.4 PVC
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2017-2021)
8.7.4.3 Forecast Trend (2022-2027)
8.7.5 Others
8.8 Global Steel Wire Rope Market by Application
8.8.1 Oil and Gas
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2017-2021)
8.8.1.3 Forecast Trend (2022-2027)
8.8.2 Heavy Machinery
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2017-2021)
8.8.2.3 Forecast Trend (2022-2027)
8.8.3 Mining
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2017-2021)
8.8.3.3 Forecast Trend (2022-2027)
8.8.4 Marine
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2017-2021)
8.8.4.3 Forecast Trend (2022-2027)
8.8.5 General Engineering
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2017-2021)
8.8.5.3 Forecast Trend (2022-2027)
8.8.6 Construction
8.8.6.1 Market Share
8.8.6.2 Historical Trend (2017-2021)
8.8.6.3 Forecast Trend (2022-2027)
8.8.7 Others
8.9 Global Steel Wire Rope Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Exporting Countries:
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Cortland Limited
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Anchor Industries Pty Ltd
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Samson Rope Technologies, Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Chung Woo Rope Co. Ltd
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Teufelberger Holding AG
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Fasten Group
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Bekaert Group
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Others
14 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Materials
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investments
The global Steel Wire Rope market size was valued at USD 9564 million in 2021.
In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 3.4%.
The significant demand for steel wire rope, owing to its various properties, is one of the essential drivers of the Steel Wire Rope market growth.
Cortland Limited, Anchor Industries Pty Ltd, Samson Rope Technologies, Inc., Chung Woo Rope Co. Ltd, and Teufelberger Holding AG are some of the major players in the market.
The Asia Pacific region of the Steel Wire Rope industry holds a significant share in the market.
The global Steel Wire Rope market attained a value of USD 9564 million in 2021, driven by the application of the product in various end-user sectors such as marine and fisheries, industrial and crane, and mining. Aided by the different properties of the wire-like being light, strong, having low specific gravity, have excellent flexibility, are corrosion resistant, and are easy to form, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 3.4%. The market is projected to reach USD 12450 million by 2027. Some of the leading players in the industry are Cortland Limited, Anchor Industries Pty Ltd, Samson Rope Technologies, Inc., Chung Woo Rope Co. Ltd, and Teufelberger Holding AG.
Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.
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