Chain, Spring & Wire Product Manufacturing in the UK - Industry Market Research Report

Chain, Spring & Wire Product Manufacturing in the UK - Industry Market Research Report

Chain, Spring & Wire Product Manufacturing in the UK

UK wires, chains and springs manufacturers focus on high-value niche markets as imports dominate cheaper products. The industry heavily depends on the size and performance of the downstream construction, motor vehicle and aerospace manufacturers. Turbulent economic conditions, particularly following the COVID-19 outbreak, have negatively affected many spring and wire manufacturers. Import competition has intensified despite a weak UK exchange rate, putting downward pressure on prices and negatively affecting revenue and profit. Manufacturers are also heavily reliant on overseas markets, with exports representing approximately 47.3% of industry revenue in 2022-23. Over the five years through 2022-23, Industry revenue is expected to fall at a compound annual rate of 1.3% to £1.1 billion, including forecast drop of 7.1% in 2022-23.

Companies in this industry manufacture chain, spring and wire products, including various types of wire fencing and netting. The industry does not include the production of a clock or watch springs and cables designed to transmit electricity.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.