Global Steel Wire Market 2024-2028
The steel wire market is forecasted to grow by USD 28.78 bn during 2023-2028, accelerating at a CAGR of 4.69% during the forecast period. The report on the steel wire market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growth of the automotive sector, increasing construction activities in developing countries, and rising demand and usage of steel wire from the oil and gas industry.
Technavio's steel wire market is segmented as below:
By End-user
- Construction
- Automotive
- Industrial
- Others
By Type
- Carbon steel
- Alloy steel
- Stainless steel
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the increasing strategic alliances and partnerships among steel manufacturers as one of the prime reasons driving the steel wire market growth during the next few years. Also, the rising adoption of high-carbon steel wire and the usage of steel wire in 3D printing will lead to sizable demand in the market.
The report on the steel wire market covers the following areas:
- Steel wire market sizing
- Steel wire market forecast
- Steel wire market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading steel wire market vendors that include Acerinox SA, ArcelorMittal SA, Bansal, Gerdau SA, Jiangsu Baosteel Metal Product Co. Ltd., Jiangsu Shagang International Trade Co. Ltd., Joneja Bright Steel Pvt. Ltd., KEI Industries Ltd., Kobe Steel Ltd., Mechel PAO, Nippon Steel Corp., Nucor Corp., PAO Severstal, Rajratan Global Wire Ltd., SSAB AB, Tata Sons Pvt. Ltd., thyssenkrupp AG, Usha Martin Ltd., Voestalpine AG, and Shree Steel Wire Ropes Ltd.. Also, the steel wire market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape and an analysis of the key vendors.
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.