Astute Analytica released the latest report on the Steel Wire Market study, which will provide all the most recent market trends, which has been announced. The study also contributes to a quick estimation of the market’s size, which is expected to expand significantly over the envisioned period of time. Furthermore, new technological developments and mechanical improvements are justified when demand for this service/item increases globally.
The global Steel Wire Market is projected to offer a growth opportunity of nearly US$ 100.76 Bn from 2022-2030 and is estimated to reach US$ 179.85 Bn by 2030. The market is expected to register a CAGR of 10.81 % during the forecast period 2022–2030.
The Steel Wire Market research report will also provide a slice of the action for big partners who act as global-scale transformers. The major item contributions, key differentiators, income share, market size, market status, and techniques will all be taken into account in this subjective and quantitative analysis. The research will also discuss significant agreements, partnerships, and international organizations that are about to transform certain market segments on a global basis.
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Factors Influencing the Market
Favorable regulatory standards for tax breaks for infrastructure ventures are primarily driving the growth of the global Steel Wire Market. In addition, other factors like the rapidly growing urban population, technological advancements, and growing R&D activities will offer lucrative growth opportunities for market growth.
However, risks associated with equipment handling and high machine costs are expected to stymie the growth of the Steel Wire Market. This report on the global Industrial & Heavy Machinery Market outlines every subject impacting the market. The report offers both qualitative and quantitative analysis based on every segment.
COVID-19 Impact Analysis
Following the coronavirus pandemic, the Steel Wire Market experienced a sharp decline in terms of revenue. The COVID-19 pandemic forced the imposition of a lockdown to reduce infection among the population across countries. Moreover, manufacturing companies rely heavily on the supply of raw materials and components from other countries around the world, which was halted during the pandemic. Thus, the negatively affected the global Steel Wire Market.
List of Key Companies Profiled
- ArcelorMittal
- Bekaert SA
- Bharat Wire Ropes Limited
- China Baowu Group
- CSN Steel
- Ferrier Nord
- Gustav Wolf GmbH
- HBIS Group
- JFE Steel Corporation
- Jianglin Stainless
- JSW Steel Ltd.
- Kobe Steel, Ltd.
- Nippon Steel
- POSCO
- SHAGANG GROUP Inc.
- TATA Steel Limited
- Teufelberger
- Usha Martin
- Other Prominent Players
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Segmentation Overview
The global steel wire market is segmented as follows:
By Type
- Carbon Steel
- Alloy Steel
- Stainless Steel
By Form
- Rope
- Non- Rope
By Coating Type
- PVC
- Zinc
- Aluminum Alloy
- Stainless Steel
- Others
By Thickness
- 0.01 mm to 0.8 mm
- 0.8 mm to 1.6 mm
- 1.6 mm to 4 mm
- 4 mm & above
By End User
- Oil and Gas
- Aerospace
- Mining
- Manufacturing
- Automotive
- Construction
- Agriculture
- Entertainment
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Western Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
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