Steel Wire Market Business Overview 2020 | Major Key Players and Stockholders, Business Strategy Analysis by Distributors, Industry Size with Share and Business Expansion Plans till 2027
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.
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, andAlloy Steel), By End-Use Industry (Automotive, Construction, Energy,Agriculture, and Others), and Regional Forecast, 2019-2026.” As per thisreport, the market value stood at USD 91.33 billion in 2018 and will exhibit aCAGR 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-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, andopportunities. The talks about various segments of the market based on factorssuch as grade, end-user, and geography with names of leading sectors and theirattributed factors. It discusses the competitive landscape of the market.Additionally, the list of notable players operating in the market is providedin the report, coupled with the key strategies adopted by them to stay ahead ofthe competition. Current Steel Wire Market trends and key industry developmentsare highlighted 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-supported investments for the construction of suspension bridgesand the implementation of steel wires for such construction activities will addimpetus to the market.”
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…!
About Us:
Fortune Business Insights™ offers expert corporate analysis and accuratedata, helping organizations of all sizes make timely decisions. We tailorinnovative solutions for our clients, assisting them to address challengesdistinct to their businesses. Our goal is to empower our clients with holisticmarket intelligence, giving a granular overview of the market they areoperating in.
Our reports contain a unique mix oftangible insights and qualitative analysis to help companies achievesustainable growth. Our team of experienced analysts and consultants useindustry-leading research tools and techniques to compile comprehensive marketstudies, interspersed with relevant data.
At Fortune Business Insights™, we aimat highlighting the most lucrative growth opportunities for our clients. We,therefore, offer recommendations, making it easier for them to navigate throughtechnological and market-related changes. Our consulting services are designedto help organizations identify hidden opportunities and understand prevailingcompetitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
FortuneBusiness Insights™
LinkedIn | Twitter | Blogs
Read Press Release: https://www.fortunebusinessinsights.com/press-release/steel-wire-market-9730
