Steel Wire Market 2022-2028

Description

List of Tables

Global Steel Wire Market Size, Share & Trends Analysis Report by form (Rope and Non-Rope), by Type (Alloy Steel, Carbon Steel, and Stainless Steel), and by End-User (Construction, Automotive, Energy, Agriculture, and Industrial) Forecast Period (2022-2028)

The global steel wire market is anticipated to grow at a significant CAGR of XX% during the forecast period. Governments are pouring billions of dollars into improving the country's infrastructure. Steel wire use has grown as a result of the construction of suspension bridges to improve connectivity and infrastructure. Suspended steel wire ropes support the roadway on a suspension bridge, and any weight imparted to the bridge is transferred to strain on the steel cables. These wires are utilized in suspension bridge cables because they have better tensile strength, flexibility, and durability under harsh environments, as well as a higher load-bearing capability. Governments are investing huge amounts of money into improving the country's infrastructure. Steel wire consumption has grown as a result of the development of suspension bridges to improve connectivity and infrastructure. Swinging steel cable ropes support the roadway on a suspension bridge, and any weight imparted to the bridge is transferred to strain on the steel cables. According to IBEF, As of October 2021, India was the world's second-largest producer of crude steel, with an output of 9.8 MT. In October 2021, the production of crude steel in India stood at 9.8 MT (million tones). In 2019, the Government introduced Steel Scrap Recycling Policy with an aim to reduce import.

The global steel wire market is segmented on the basis of waste form, type and end user. On the basis of form, the market is segmented into a rope and non-rope. Rope market is expected to contribute significant market share owing to their high load bearing strength mainly used in fishing and mining sectors. On the basis of type, the market is segmented into the allot steel, carbon steel, and stainless steel. The carbon steel is expected to have a major market share due to the wear and shock resistance, light weight, and have high tensile strength useful in construction industry. By end-user, the market is segmented into the construction, automotive, energy, agriculture and industrial. Steel wires are used in tire reinforcement, spring steel wires, spoke wires, fasteners, exhaust lines, windshield wipers, airbag safety systems, and fuel or brake hose reinforcement, among other applications in the automotive end-use sector. The automobile industry's comeback after the COVID-19 period. For instance, in 2019, the automotive production witnessed a decline owing to trade war of US-China and other political reasons.

The global steel wire market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Asia Pacific is anticipated a significant growth in the market owing to the growing environmental concerns due to mounting pollution in the country China is the world's largest vehicle producer. The country's automobile sector is preparing for product evolution, with the government focused on product manufacture to assure fuel efficiency and reduce emissions. According to World Steel Forecast, in 2020, China's steel demand is predicted to grow by 8.0 percent. The big government's infrastructure stimulus has fueled growth in Chinese steel demand. In 2020, China's steel consumption will account for about 57 percent of world demand.

The major companies serving the global steel wire market ArcelorMittal, HBIS Group, Heico Wire Group, Nippon Steel & Sumitomo Metal Corporation, TATA Steel Ltd., and others. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2019, Liberty Steel acquires ArcelorMittal assets in Europe.

Research Methodology

The market study of the global steel wire market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.
Whitepapers, research papers, and news blogs.
Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Steel wire Market Research and Analysis by Form.

2. Global Steel wire Market Research and Analysis by Type.

3. Global Steel wire Market Research and Analysis by End-User.

The Report Covers:

Comprehensive Research Methodology of the global steel wire market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global Solar Panel market.
Insights about market determinants that are stimulating the global steel wire market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026596

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Impact of COVID-19 on the Global Steel Wire Market
Recovery Scenario of Global Steel Wire Market
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. BY Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
- 3.1.1. ArcelorMittal
  - 3.1.1.1. Overview
  - 3.1.1.2. Financial Analysis
  - 3.1.1.3. SWOT Analysis
  - 3.1.1.4. Recent Developments
- 3.1.2. HBIS Group
  - 3.1.2.1. Overview
  - 3.1.2.2. Financial Analysis
  - 3.1.2.3. SWOT Analysis
  - 3.1.2.4. Recent Developments
- 3.1.3. Heico Wire Group
  - 3.1.3.1. Overview
  - 3.1.3.2. Financial Analysis
  - 3.1.3.3. SWOT Analysis
  - 3.1.3.4. Recent Developments
- 3.1.4. Nippon Steel & Sumitomo Metal Corporation
  - 3.1.4.1. Overview
  - 3.1.4.2. Financial Analysis
  - 3.1.4.3. SWOT Analysis
  - 3.1.4.4. Recent Developments
- 3.1.5. TATA Steel ltd.
  - 3.1.5.1. Overview
  - 3.1.5.2. Financial Analysis
  - 3.1.5.3. SWOT Analysis
  - 3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players

4. Market Segmentation

4.1. Global Steel Wire Market by Form
- 4.1.1. Rope
- 4.1.2. Non-Rope
4.2. Global Steel Wire Market by Type
- 4.2.1. Alloy Steel
- 4.2.2. Carbon Steel
- 4.2.3. Stainless Steel
4.3. Global Steel Wire Market by End-User
- 4.3.1. Construction
- 4.3.2. Automotive
- 4.3.3. Energy
- 4.3.4. Agriculture
- 4.3.5. Industrial

5. Regional Analysis

5.1. North America
- 5.1.1. US
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. Ansteel Group Corporation Limited
6.2. Bridon International Ltd.
6.3. China Baowu Steel Group Corporation Limited
6.4. Davis Wire Corporation
6.5. Gerdau S.A.
6.6. Insteel Industries, Inc.
6.7. JFE Steel Corporation
6.8. Jiangsu Shagang Group
6.9. Kobe Steel, Ltd.
6.10. Leggett & Platt® Inc.
6.11. National Standard
6.12. NV Bekaert SA
6.13. POSCO
6.14. Shougang Corporation
6.15. Tata Steel Group
6.16. thyssenkrupp Steel Europe AG
6.17. Tree Island Industries Ltd.
6.18. Usha Martin Limited