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Steel Wire Trends and Forecast
The future of the global steel wire market looks promising with opportunities in the construction, automotive, energy, agriculture, and industrial markets. The global steel wire market is expected to reach an estimated $147.9 billion by 2030 with a CAGR of 4.5% from 2024 to 2030. The major drivers for this market are rising infrastructural development activities and significant use of these wires in automotive and aviation industries.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Steel Wire by Segment
The study includes a forecast for the global steel wire by type, form, end use industry, and region.
Steel Wire Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Carbon Steel
• Alloy Steel
• Stainless Steel
Steel Wire Market by Form [Shipment Analysis by Value from 2018 to 2030]:
• Non-Rope
• Rope
Steel Wire Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Construction
• Automotive
• Energy
• Agriculture
• Industrial
• Others
Steel Wire Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Steel Wire Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies steel wire companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the steel wire companies profiled in this report include-
• Arcelormittal
• Nippon Steel
• JFE Steel
• Bekaert
• Tata Steel
• Kobe Steel
• Ferrier Nord
Steel Wire Market Insights
Lucintel forecasts that carbon steel is expected to witness highest growth over the forecast period due to its significant application in various industrial applications such as wire loops, wire mesh, hardware, and automobiles given to its features like durability and affordability.
Within this market, construction will remain the largest segment due to growing need for steel wire in this industry for use in a variety of applications, such as wire mesh and wire fencing, prestressed concrete, and reinforcement in concrete buildings.
APAC is expected to witness highest growth over the forecast period due to high demand for steel wire in a variety of industries, such as construction, automotive, and manufacturing sector of this region.
Features of the Global Steel Wire Market
Market Size Estimates: Steel wire market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Steel wire market size by type, form, end use industry, and region in terms of value ($B).
Regional Analysis: Steel wire market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, forms, end use industries, and regions for the steel wire market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the steel wire market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the steel wire market size?
Answer: The global steel wire market is expected to reach an estimated $147.9 billion by 2030.
Q.2 What is the growth forecast for steel wire market?
Answer: The global steel wire market is expected to grow with a CAGR of 4.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the steel wire market?
Answer: The major drivers for this market are rising infrastructural development activities and significant use of these wires in automotive and aviation industries.
Q4. What are the major segments for steel wire market?
Answer: The future of the steel wire market looks promising with opportunities in the construction, automotive, energy, agriculture, and industrial markets.
Q5. Who are the key steel wire market companies?
Answer: Some of the key steel wire companies are as follows:
• Arcelormittal
• Nippon Steel
• JFE Steel
• Bekaert
• Tata Steel
• Kobe Steel
• Ferrier Nord
Q6. Which steel wire market segment will be the largest in future?
Answer: Lucintel forecasts that carbon steel is expected to witness highest growth over the forecast period due to its significant application in various industrial applications such as wire loops, wire mesh, hardware, and automobiles given to its features like durability and affordability.
Q7. In steel wire market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to high demand for steel wire in a variety of industries, such as construction, automotive, and manufacturing sector of this region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the steel wire market by type (carbon steel, alloy steel, and stainless steel), form (non-rope and rope), end use industry (construction, automotive, energy, agriculture, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Steel Wire Market, Steel Wire Market Size, Steel Wire Market Growth, Steel Wire Market Analysis, Steel Wire Market Report, Steel Wire Market Share, Steel Wire Market Trends, Steel Wire Market Forecast, Steel Wire Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Steel Wire Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Steel Wire Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Steel Wire Market by Type
3.3.1: Carbon Steel
3.3.2: Alloy Steel
3.3.3: Stainless Steel
3.4: Global Steel Wire Market by Form
3.4.1: Non-Rope
3.4.2: Rope
3.5: Global Steel Wire Market by End Use Industry
3.5.1: Construction
3.5.2: Automotive
3.5.3: Energy
3.5.4: Agriculture
3.5.5: Industrial
3.5.6: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Steel Wire Market by Region
4.2: North American Steel Wire Market
4.2.2: North American Steel Wire Market by End Use Industry: Construction, Automotive, Energy, Agriculture, Industrial, and Others
4.3: European Steel Wire Market
4.3.1: European Steel Wire Market by Type: Carbon Steel, Alloy Steel, and Stainless Steel
4.3.2: European Steel Wire Market by End Use Industry: Construction, Automotive, Energy, Agriculture, Industrial, and Others
4.4: APAC Steel Wire Market
4.4.1: APAC Steel Wire Market by Type: Carbon Steel, Alloy Steel, and Stainless Steel
4.4.2: APAC Steel Wire Market by End Use Industry: Construction, Automotive, Energy, Agriculture, Industrial, and Others
4.5: ROW Steel Wire Market
4.5.1: ROW Steel Wire Market by Type: Carbon Steel, Alloy Steel, and Stainless Steel
4.5.2: ROW Steel Wire Market by End Use Industry: Construction, Automotive, Energy, Agriculture, Industrial, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Steel Wire Market by Type
6.1.2: Growth Opportunities for the Global Steel Wire Market by Form
6.1.3: Growth Opportunities for the Global Steel Wire Market by End Use Industry
6.1.4: Growth Opportunities for the Global Steel Wire Market by Region
6.2: Emerging Trends in the Global Steel Wire Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Steel Wire Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Steel Wire Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: ArcelorMittal
7.2: Nippon Steel
7.3: JFE Steel
7.4: Bekaert
7.5: Tata Steel
7.6: Kobe Steel
7.7: Ferrier Nord
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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