PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1084135
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1084135
Global Wire and Spring Products Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. Wire products comprise of different metal derivatives such as aluminum-based, barbed, coated electrodes, copper-based, fasteners, fencing. Also, spring comes in different firms such as micro, compression, extension, and torsion & clutch among others. Wire and spring products have wide applications across several industries such as automotive, aerospace, government, medical & healthcare, and commercial & industrial sectors. The growing automotive Sector and increasing application in end use industries as well as recent collaboration activities are factors that are accelerating the global market demand. For instance, according to Statista - In 2021, the global automotive manufacturing market was estimated at USD 2.7 trillion, and this amount is projected to grow to USD 2.8 trillion by 2022. Furthermore, in January 2022, National Association for Stock Car Auto Racing's NASCAR Cup Series collaborated with Mississippi, US based Hyperco. Under this collaboration Hyperco would be appointed as the official spring supplier of NASCAR's new NextGen program. Also, growing industrialization in emerging economies and rising demand for Heavy Machinery and Construction Equipment across different industries are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, high cost associated with raw materials impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Wire and Spring Products Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to growing automobile sector and rising technological advancements in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as increasing penetration of global automotive players and rapid industrialization in the region, would create lucrative growth prospects for the Wire and Spring Products Market across the Asia Pacific region.
Major market players included in this report are:
All-Rite Spring Company
Bridon International Ltd.
National Springs & Wire Products (NZ) Ltd.
Siddall & Hilton Products Ltd.
Wire Products Company
Action Spring Co. Inc.
Baumann Springs USA, Inc.
James Spring & Wire Co.
Gibbs Wire & Steel Company LLC
Newcomb Spring Corp.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Wire Products
Light Gauge
Heavy Gauge Springs
Others
By Application
Automotives
Aerospace
Government
Medical and Healthcare
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Wire and Spring Products Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
List of figures