PORTLAND, OR, UNITED STATES, March 07, 2023 (GLOBE NEWSWIRE) -- A global Material & Chemical business consulting firm, Maximize Market research, has published a market intelligence and competitive landscape report on the “Steel Wire Market”. The report is a combination of primary data and secondary data and domain experts have analyzed the Steel Wire Market from a local as well as a global point of view. Over the forecast period, Maximize Market research expects the market to grow from USD 99.24 Bn in 2021 to USD 151.85 Bn in 2029 at a CAGR of 6.26 percent. As per the report, the Asia Pacific region is expected to grow at a high CAGR during the forecast period.
| Market Size in 2021 | USD 99.24 Bn. |
| Market Size in 2029 | USD 151.85 Bn. |
| CAGR | 6.26 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 276 |
| No. of Tables | 118 |
| No. of Charts and Figures | 114 |
| Segment Covered | Type, Form and End-Use |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Steel Wire Market Report Scope and Research Methodology
The Steel Wire Market report offers both qualitative and quantitative analysis. It provides a detailed segment-wise and region-wise analysis of the market. The report categorizes the Steel Wire Market based on type, form and end-use. The report provides market statistics including market size, regional shares, competitors with market share, market trends, market drivers, restraints, challenges and prevailing opportunities. Such information makes the market report a guide for investors and helps new entrants to get knowledge about the Steel Wire Industry.
The Steel Wire Market report highly depends on both primary and secondary data sources. The research process involves the investigation of various factors affecting the industry, such as government policy, competitive landscape, historical data, current market trends, market environment, technological innovation, upcoming technologies, and technical progress in related industries. All conceivable elements influencing the Steel Wire Market included in this research have been considered, analyzed in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. Extensive primary research was conducted to acquire information and verify and confirm the important numbers arrived at after comprehensive Steel Wire Market engineering and calculations for market statistics, market forecasts, market breakdown, market size estimations and data triangulation. The bottom-up approach was used to estimate the global and regional Steel Wire Market size.
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Steel Wire Market Overview
Steel wire is a mechanical tool used to lift and transport loads and objects. Key factor driving the Steel Wire Market is the increasing demand for high-quality steel wire among medical original equipment manufacturers (OEMs). Stainless steel wires are majorly used in modern medical applications such as vascular therapy, endovascular medical devices and others. Carbon steel wires are used in various applications such as construction, military and construction industries.
Steel Wire Market Dynamics
The growing urban population, technological advancements and increasing research and development activities are the major factors expected to create growth opportunities during the forecast period. The Steel Wire Market is also expected to grow due to the growing commercial, infrastructural and residential construction of government and private firms.
The Steel Wire Market is expected to be limited by the increasing use of plastic ropes in mobile cranes as they offer better lifting efficiency, extend the life of the rope and lower maintenance costs.
Steel Wire Market Regional Insights
In 2021, the Asia Pacific region dominated the global Steel Wire Market and is expected to grow at a high CAGR during the forecast period. This growth of the Steel Wire Market is majorly expected due to the growing construction and infrastructural activities in developing countries such as China and India.
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The Steel Wire Market in the Europe region is also expected to grow at a high CAGR during the forecast period due to the presence of major automotive manufacturing companies that are increasing the demand for steel wire for automobile applications.
Steel Wire Market Segmentation
By Type
- Carbon Steel
- Alloy Steel
- Stainless Steel
By Form
- Non-rope
- Rope
By End-Use
- Construction
- Automotive
- Energy
- Agriculture
- Industrial
Steel Wire Market Key Competitors include:
- ArcelorMittal
- Nippon Steel
- JFE Steel Corporation
- TATA Steel Limited
- Bekaert SA
- The Heico Companies
- Ferrier Nord
- Byelorussian Steel Works
- Kobe Steel, Ltd.
- VIRAJ PROFILES LTD.
- JSW Steel Ltd.
- Hendrik Veder
- Kiswire Inc.
- Mahadev Industries
- Mazzella Companies
- Fasten Group
- Gustav Wolf GmbH
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Steel Wire Market Size, Share, Size & Forecast by different segment | 2022−2029
- Steel Wire Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Steel Wire Market Segmentation – A detailed analysis by Type, Form, End-Use and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Key questions answered in the Steel Wire Market are:
- What is the global Steel Wire Market structure?
- What is the CAGR of the Steel Wire Market?
- What are the global trends in the Steel Wire Market?
- What are the upcoming industry applications and trends for the Steel Wire Market?
- What is the revenue generated from the sales of Steel Wire across the world?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Steel Wire Market?
- What growth strategies are the market players considering to increase their presence in Steel Wire Market?
- Who are the leading companies and what are their portfolios in Steel Wire Market?
- What are the major challenges that the Steel Wire Market could face in the future?
- Who held the largest market share in Steel Wire Market?
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Automotive Steel Market - The market size is expected to reach USD 53.24 billion by 2029 at a CAGR of 13.6 percent during the forecast period. The market is expected to be driven by the increasing acceptance of lightweight steel in automobiles and the increasing adoption of EVs.
Carbon Steel Market - The market size is expected to reach USD 1228 billion by 2029 at a CAGR of 3.37 percent during the forecast period. The market is expected to be driven by the increasing use of carbon steel in the production of construction materials, such as pipes and tubes and increased demand for shipbuilding materials.
Sintered Steel Market - The market size is expected to reach USD 35.98 billion by 2029 at a CAGR of 4.7 percent during the forecast period. The market is expected to be driven by the growing car component sector during the forecast period.
Weathering Steel Market - The market size is expected to reach USD 2.59 billion by 2029 at a CAGR of 6.3 percent during the forecast period. The market is expected to be driven by the increasing demand from the construction industry due to its outstanding characteristics in terms of durability, low maintenance, and a longer life cycle.
Corrugated Steel Sheets Market - The market size is expected to reach USD 3.26 billion by 2029 at a CAGR of 3.4 percent during the forecast period. The market is expected to be driven by the wide usage of corrugated steel sheets in agriculture for warehousing, sheds, porches, and farmhouses.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
