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Steel Wire Market Opportunity Outlook, Growth Predication, Industry Insights, Sales, Segmentation and Application Analysis 2020 to 2027
Posted on Dec 24 2020 6:32 AM
"Key companies covered are Bridon-Bekaert, Optimus Steel, Kobe Steel, Ltd., JFE Steel Corporation, Insteel Industries, Byelorussian Steel Works, Ferriere Nord S.p.a., ArcelorMittal, The Heico Companies, HBIS Group Co., Ltd, WireCo WorldGroup, Inc., Nippon Steel, SHAGANG GROUP Inc., other players
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The global 'Steel Wire Market ' size is projected to reach USD 112.14 billion by 2026, on account of rising in the expenditure by the government to develop the existing infrastructures. Steel wires offer high resistance to shock and deformation, are lightweight, and have high strength. Fortune Business Insights™ provides a detailed analysis of the market in their recently published report titled, 'Steel Wire Market Size, Share & Industry Analysis, By Grade (Carbon Steel, Stainless Steel, and Alloy Steel), By End-Use Industry (Automotive, Construction, Energy, Agriculture, and Others), and Regional Forecast, 2019-2026. As per this report, the market value stood at USD 91.33 billion in 2018 and will exhibit a CAGR of 2.7% during the forecast period set between 2019 and 2026.
What is the Scope of the Report?
The report is based on in-depth research and analysis on the Steel Wire Market and suffices to both the qualitative and quantitative needs of the reader. It focuses on significant growth trajectories such as growth drivers, restraints, challenges, and opportunities. The talks about various segments of the market based on factors such as grade, end-user, and geography with names of leading sectors and their attributed factors. It discusses the competitive landscape of the market. Additionally, the list of notable players operating in the market is provided in the report, coupled with the key strategies adopted by them to stay ahead of the competition. Current Steel Wire Market trends and key industry developments are highlighted in the report.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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List of Key Companies Profiled in Steel Wires Market Research Report are;
- Bridon-Bekaert
- Optimus Steel
- Kobe Steel, Ltd.
- JFE Steel Corporation
- Insteel Industries
- Byelorussian Steel Works
- Ferriere Nord S.p.a.
- ArcelorMittal
- The Heico Companies
- HBIS Group Co., Ltd
- WireCo WorldGroup, Inc.
- Nippon Steel
- SHAGANG GROUP Inc.
- Other Players
Market Drivers:
Increasing Number of Dams and Bridge Construction will Add Impetus to Market
Rise in construction activities worldwide is a significant factor in promoting the Steel Wire Market growth. This includes the development of hospitals, schools, and residential buildings that increased the demand for steel wires. Besides this, steel wire has applications in the building of large infrastructures such as towers, dams, bridges, and also for reinforcement and rebar bindings. This will further aid in the expansion of the market.
However, the increasing popularity of plastic ropes for various applications may take over the market for steel ropes, which may challenge the demand for steel wires. The use of plastic ropes instead of steel ropes reduces the overall weight of the machine and the axle load. This may divert manufacturers away from purchasing steel wires and further cause major hindrance to the market growth in the coming years. Nevertheless, a lead analyst at Fortune Business Insights say, 'Government-supported investments for the construction of suspension bridges and the implementation of steel wires for such construction activities will add impetus to the market.
Segmentation:
By Grade
- Carbon Steel
- Stainless Steel
- Alloy Steel
By End-Use Industry
- Automotive
- Construction
- Energy
- Agriculture
- Others
By Geography
- North America (the U.S. and Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Southeast Asia, and the Rest of Asia- Pacific)
- Latin America (Brazil, Mexico, Argentina, and the Rest of Latin America)
- Middle East & Africa (Saudi Arabia, Egypt, Turkey, Iran, and the Rest of Middle East & Africa)
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REGIONAL ANALYSIS:-
North America to Dominate Market with High Demand for Construction Activities
From a geographical viewpoint, the global Steel Wire Market is dominated by North America, with a revenue generation of USD 8.24 billion in 2018. This is attributable to the high demand for construction applications in the region. Additionally, Asia Pacific and Europe markets are likely to register a significant CAGR owing to the rise in the need for steel wires from the automobile industries. India and China are leading Asia Pacific with increasing construction activities. On the other side, the market in Latin America will grow steadily with an increase in mining and ore extraction activities. Furthermore, the rising number of gas and oil exploration activities will help the Middle East and Africa witness sluggish growth in the forecast period.
Competitive Landscape:
ArcelorMittal to Lead the Market Enjoying Leading Position with Diverse Portfolio
The competitive landscape of the Steel Wire Market is fragmented in nature. However, ArcelorMittal is dominating the market, owing to the presence of a diverse portfolio that is utilized in a variety of applications. Other companies are focusing on strengthening their product and expansion of their geographical boundaries to attract high steel wire market revenue in the coming years. Furthermore, the increasing demand form the automotive and construction industries are encouraging manufacturers to implement different strategies such as merger and acquisition, product up-gradation and regional expansion and gain a competitive edge in the market in the forthcoming years.
Steel Wires Market Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Key Questions Answered:
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
Click here to get the short-term and long-term impact of COVID-19 on the Steel Wire Market:
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Key Industry Developments of the Steel Wire Market Include:
March 2019 The new 8-strand steel rope designed for underground mining applications, called Turbolite, was introduced by WireCo. The key feature of this new steel rope is its lightweight nature and tensile strength with better strength to weight ratio.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Steel Wire Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast By Grade
- Carbon Steel
- Stainless Steel
- Alloy Steel
- Market Analysis, Insights and Forecast By End-Use Industry
- Automotive
- Construction
- Energy
- Agriculture
- Others
- Market Analysis, Insights and Forecast By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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