Steel Wire Market Report: Trends, Forecast and Competitive Analysis to 2030
Steel Wire Trends and Forecast
The future of the global steel wire market looks promising with opportunities in the construction, automotive, energy, agriculture, and industrial markets. The global steel wire market is expected to reach an estimated $147.9 billion by 2030 with a CAGR of 4.5% from 2024 to 2030. The major drivers for this market are rising infrastructural development activities and significant use of these wires in automotive and aviation industries.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Steel Wire by Segment
The study includes a forecast for the global steel wire by type, form, end use industry, and region.
Steel Wire Market by Type [Shipment Analysis by Value from 2018 to 2030]:
- Carbon Steel
- Alloy Steel
- Stainless Steel
Steel Wire Market by Form [Shipment Analysis by Value from 2018 to 2030]:
Steel Wire Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
- Construction
- Automotive
- Energy
- Agriculture
- Industrial
- Others
Steel Wire Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Steel Wire Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies steel wire companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the steel wire companies profiled in this report include-
- Arcelormittal
- Nippon Steel
- JFE Steel
- Bekaert
- Tata Steel
- Kobe Steel
- Ferrier Nord
Steel Wire Market Insights
Lucintel forecasts that carbon steel is expected to witness highest growth over the forecast period due to its significant application in various industrial applications such as wire loops, wire mesh, hardware, and automobiles given to its features like durability and affordability.
Within this market, construction will remain the largest segment due to growing need for steel wire in this industry for use in a variety of applications, such as wire mesh and wire fencing, prestressed concrete, and reinforcement in concrete buildings.
APAC is expected to witness highest growth over the forecast period due to high demand for steel wire in a variety of industries, such as construction, automotive, and manufacturing sector of this region.
Features of the Global Steel Wire Market
Market Size Estimates: Steel wire market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Steel wire market size by type, form, end use industry, and region in terms of value ($B).
Regional Analysis: Steel wire market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, forms, end use industries, and regions for the steel wire market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the steel wire market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the steel wire market size?
Answer: The global steel wire market is expected to reach an estimated $147.9 billion by 2030.
Q.2 What is the growth forecast for steel wire market?
Answer: The global steel wire market is expected to grow with a CAGR of 4.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the steel wire market?
Answer: The major drivers for this market are rising infrastructural development activities and significant use of these wires in automotive and aviation industries.
Q4. What are the major segments for steel wire market?
Answer: The future of the steel wire market looks promising with opportunities in the construction, automotive, energy, agriculture, and industrial markets.
Q5. Who are the key steel wire market companies?
Answer: Some of the key steel wire companies are as follows:
- Arcelormittal
- Nippon Steel
- JFE Steel
- Bekaert
- Tata Steel
- Kobe Steel
- Ferrier Nord
Q6. Which steel wire market segment will be the largest in future?
Answer: Lucintel forecasts that carbon steel is expected to witness highest growth over the forecast period due to its significant application in various industrial applications such as wire loops, wire mesh, hardware, and automobiles given to its features like durability and affordability.
Q7. In steel wire market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to high demand for steel wire in a variety of industries, such as construction, automotive, and manufacturing sector of this region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the steel wire market by type (carbon steel, alloy steel, and stainless steel), form (non-rope and rope), end use industry (construction, automotive, energy, agriculture, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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