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Historical Year
Forecast Year
The global bright steel wire rope market is significantly supported by the steel wire rope industry, which attained USD 9.16 billion in 2023. The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.
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In recent years, the bright steel wire rope consumption and sales in the countries of the Asia Pacific region, especially in China, Indonesia, and India, have been high. For the global market for bright steel wire rope, North America and Europe are the main regions as they are prominent end users of the oil and gas industry. Bright steel wire rope factories are primarily based in China, India, the United States, Germany and Japan. The bright steel wire rope industry is expected to see a strong growth pattern during the projected period in the Asia Pacific countries, such as China, India, Indonesia, Thailand and Malaysia. China has witnessed significant growth in the demand for bright steel wire rope over the last decade, which can be due to the growth in steel production and investment in infrastructure where lift and motion applications are involved. This is expected to boost the overall market of bright steel wire rope in the forecast period as well.
Bright steel wire rope refers to general wire rope without surface coating. It is free from zinc, tin, copper, and other kinds of metallic coatings. So, they are generally lubricated with grease to prevent deterioration of the wire cord.
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By type, the market is divided into:
On the basis of lay type, the market is bifurcated into:
Based on strand pattern, the market is segmented into:
By application, the market is divided into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global demand for bright steel wire ropes is dominated by the oil and gas, shipping, and mining sectors. It is predicted that steel wire rope producers will concentrate on economies with substantial steel production and imports. Bright steel wire rope producers have seen rapid growth in revenue since the crude oil crisis and there are a rising number of ventures related to oil extraction, coal mining, and other mineral and industrial drilling. The rainy season causes hinderance in the use of bright steel wire cords. Lack of manpower and lack of employee expertise are other primary obstacles to the development of the global bright steel wire rope industry.
The report gives a detailed analysis of the following key players in the global bright steel wire rope market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Lay Type |
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| Breakup by Strand Pattern |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global bright steel wire rope market is being supported by the steel wire rope industry, which attained a value of nearly USD 9.16 billion in 2023.
The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.
The major drivers of the market include the increased application in oil and gas market, rising investments in infrastructure development activities, the application of bright steel wire in various industries, such as shipping and mining, and the rising demand in industrial drilling activities.
The key trends guiding the market growth include the rising industrialisation and the rapid expansion of the steel market.
The major regions in the market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The major types include fog ropes, soft ropes, and hard ropes, among others.
The significant lay types include regular, and alternate, among others.
The different strand patterns include seale type, filler wire type, warrington type, and combination, among others.
Marine, mining, oil and gas, aerospace, heavy machines and cranes, and elevators, among others are the major applications in the market.
The key players in the global bright steel wire rope market are YuanBo Engineering Co., Ltd., Dunamis Wire Ropes Mfg. LLP, Tokyo Rope Mfg. Co., Ltd., and Guizhou Wire Rope Incorporated Company, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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