PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1883936
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1883936
The steel wire rope market is estimated to be USD 10.49 billion in 2025 and is projected to reach USD 13.88 billion by 2030, at a CAGR of 5.8%. Regular lay type accounted for the largest share of the overall steel wire rope market because it provides superior lateral stability and resistance to rotation, making it ideal for use in cranes, hoists, and civil infrastructure projects. Their ease of splicing, inspection, and maintenance aligns with safety and regulatory requirements in major construction and industrial applications globally.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2023-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Million) and Volume (Kiloton) |
| Segments | Lay Type, Material Type, Coating, Diameter, Application, and Region |
| Regions covered | Europe, North America, Asia Pacific, the Middle East & Africa, and Latin America |
Regular-lay ropes are more resistant to crushing, deformation, and unwanted rotation and spool more easily onto drums than more specialized types. This combination of operational reliability, regulatory compliance, and broad applicability secures regular lay ropes as the preferred choice in the market.

"The galvanized steel material type is projected to be the second-fastest-growing segment during the forecast period."
The galvanized steel segment of the steel wire rope market is projected to witness the second-highest CAGR due to its cost-effectiveness, good mechanical strength, and widespread availability, making it highly favored in industrial and commercial applications. The galvanization process coats the steel wire with zinc, providing corrosion resistance and extending the rope's lifespan, especially in semi-corrosive or outdoor environments. Galvanized wire ropes are widely used in demanding sectors such as construction, marine, transport, agriculture, and mining because of their durability, low maintenance costs, and ability to withstand harsh conditions. Unlike stainless steel ropes, galvanized wires offer a more affordable solution. They can be produced in larger volumes to meet cost-sensitive demands, particularly for large-scale construction projects that require high tensile strength and resistance to environmental wear, including abrasion, moisture, UV rays, and chemical exposure.
"Plastic-coated segment accounted for the second-largest share of the steel wire rope market."
Based on coating, the plastic-coated segment accounted for the second-largest share of the overall steel wire rope market due to its superior corrosion resistance, durability, and cost-effectiveness, especially in outdoor and harsh environment applications. The zinc galvanization process applied to steel wires offers sacrificial corrosion protection, which, when combined with plastic coatings like PVC, PE, or nylon, provides enhanced protection against abrasion, moisture, UV rays, and chemical degradation. These characteristics make plastic-coated galvanized steel ropes highly suitable for demanding applications in construction, maritime, mining, transportation, and agriculture, where longevity and low maintenance are critical.
"The industrial & crane segment is projected to register the second-highest growth rate during the forecast period."
The steel wire rope market in the industrial & crane segment is projected to register the second-highest CAGR during the forecast period. Demand for steel wire ropes in industrial and crane applications is rising due to increasing infrastructure development, construction activities, and expanding manufacturing industries worldwide. These ropes are essential for heavy lifting, material handling, and high-load operations because of their strength, durability, and resistance to abrasion and fatigue. Growth in sectors like mining, oil and gas, ports, and logistics also contributes to higher usage of cranes and hoisting equipment, further boosting demand. Furthermore, technological advancements in wire rope design, such as improved coatings and higher tensile strength, make them more reliable and longer lasting, encouraging industries to adopt them for safety and operational efficiency.
"Middle East & Africa is projected to register the second-highest CAGR in the steel wire rope market during the forecast period."
The Middle East & Africa is projected to register the second-highest CAGR in the steel wire rope market due to rapid industrialization and infrastructure development, including expanding construction, transportation, and energy projects. Significant growth in crude oil exploration and production activities, along with booming mining operations, drives demand for durable, high-performance steel wire ropes essential for heavy lifting and material handling. Increasing investments in renewable energy projects, flourishing maritime activities, and port developments further bolster market expansion. Government initiatives aimed at economic diversification, improving transportation networks, and boosting local manufacturing capabilities also play a crucial role in the market growth.
Prominent companies in this market include Bekaert (Belgium), WireCo (US), Kiswire Ltd. (South Korea), Usha Martin Limited (India), TEUFELBERGER (Austria), Loos & Co., Inc. (US), Pfeifer Group (Germany), Tokyo Rope Mfg. Co., Ltd. (Japan), Jiangsu Langshan Wire Rope Co., Ltd. (China), Bilco Group (US), SWR Ltd. (UK), Lexco Cable (US), Jiangyin Jiahua Ropes Co., Ltd. (China), Nantong Shenwei Steel Wire Rope Co., Ltd. (China), and Bharat Wire Ropes Ltd. (India).
Research Coverage
This research report categorizes the steel wire rope market by lay type (regular lay, lang lay), material type (carbon steel, galvanized steel, stainless steel, other material types), coating (non-plastic coated, plastic coated), diameter (<=1/4 Inch, >1/4 inch), application (construction, mining, marine & fishing, industrial & crane, oil & gas, other applications), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The scope of the report includes detailed information about the major factors influencing the growth of the steel wire rope market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted to provide insights into their business overview, solutions and services, key strategies, and recent developments in the steel wire rope market. This report includes a competitive analysis of upcoming startups in the steel wire rope market ecosystem.
Reasons to Buy This Report
The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall steel wire rope market and the subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.