Steel Wire Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™

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Steel Wire Market size isprojected to reach USD 112.14 billion by 2026, on account of rising in theexpenditure by the government to develop the existing infrastructures. Steelwires offer high resistance to shock and deformation, are lightweight, and havehigh strength.

Steel Wire Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™

Fortune Business Insights™ provides adetailed analysis of the market in their recently published reporttitled, “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 RegionalForecast, 2019-2026.” As per this report, the market value stood at USD91.33 billion in 2018 and will exhibit a CAGR of 2.7% during the forecastperiod set between 2019 and 2026.

What is the Scope of the Report?

The report is based on in-depthresearch and analysis on the Steel Wire Market and suffices to both thequalitative and quantitative needs of the reader. It focuses on significantgrowth 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 attributedfactors. 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 thecompetition. Current Steel Wire Market trends and key industry developments arehighlighted in the report.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has broughtthe world to a standstill. We understand that this health crisis has brought anunprecedented impact on businesses across industries. However, this too shallpass. Rising support from governments and several companies can help in thefight against this highly contagious disease. Some industries are strugglingand some are thriving. Overall, almost every sector is anticipated to beimpacted by the pandemic.

We are taking continuous efforts tohelp your business sustain and grow during COVID-19 pandemics. Based on ourexperience and expertise, we will offer you an impact analysis of coronavirusoutbreak across industries to help you prepare for the future.

Competitive Landscape:

ArcelorMittal to Lead the Market Enjoying Leading Position with DiversePortfolio

The competitive landscape of the SteelWire Market is fragmented in nature. However, ArcelorMittal is dominating themarket, owing to the presence of a diverse portfolio that is utilized in avariety of applications. Other companies are focusing on strengthening theirproduct and expansion of their geographical boundaries to attract high steelwire market revenue in the coming years. Furthermore, the increasing demandform the automotive and construction industries are encouraging manufacturersto implement different strategies such as merger and acquisition, productup-gradation and regional expansion and gain a competitive edge in the marketin the forthcoming years.

Market Drivers:

Increasing Number of Dams and Bridge Construction will Add Impetus to Market

Rise in construction activitiesworldwide is a significant factor in promoting the Steel Wire Market growth.This includes the development of hospitals, schools, and residential buildingsthat increased the demand for steel wires. Besides this, steel wire hasapplications in the building of large infrastructures such as towers, dams,bridges, and also for reinforcement and rebar bindings. This will further aidin the expansion of the market.

However, the increasing popularity ofplastic ropes for various applications may take over the market for steelropes, which may challenge the demand for steel wires. The use of plastic ropesinstead of steel ropes reduces the overall weight of the machine and the axleload. This may divert manufacturers away from purchasing steel wires andfurther cause major hindrance to the market growth in the coming years.Nevertheless, a lead analyst at Fortune Business Insights say, “Government-supportedinvestments for the construction of suspension bridges and the implementationof steel wires for such construction activities will add impetus to themarket.”

List of Key Companies Profiled in SteelWires 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

Regional Segmentation:

North America to Dominate Market with High Demand for Construction Activities

From a geographical viewpoint, theglobal Steel Wire Market is dominated by North America, with a revenuegeneration of USD 8.24 billion in 2018. This is attributable to the high demandfor construction applications in the region. Additionally, Asia Pacific andEurope markets are likely to register a significant CAGR owing to the rise inthe need for steel wires from the automobile industries. India and China areleading Asia Pacific with increasing construction activities. On the otherside, the market in Latin America will grow steadily with an increase in miningand ore extraction activities. Furthermore, the rising number of gas and oilexploration activities will help the Middle East and Africa witness sluggishgrowth in the forecast period.

Key Industry Developments of the SteelWire Market Include:

March 2019 – The new 8-strand steel rope designed forunderground mining applications, called Turbolite, was introduced by WireCo.The key feature of this new steel rope is its lightweight nature and tensilestrength with better strength to weight ratio.

Browse Detailed Research Insights withTable of Content:https://www.fortunebusinessinsights.com/steel-wire-market-102581

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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