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Report Overview
The global steel wire rope market was valued at USD 9345.29 Million in 2025. Surging deep-sea exploration contracts and offshore wind installations are fuelling demand for corrosion-resistant steel wire ropes, particularly those with polymer coatings and enhanced fatigue resistance for maritime operations. As a result, the market is expected to grow at a CAGR of 3.40% during the forecast period of 2026-2035 to reach a value of USD 13055.64 Million by 2035.
The continuous growth in the market is sustained by booming infrastructure, mining, and deepwater offshore projects around the globe. One standout government initiative fuelling impacting the global demand is India’s National Infrastructure Pipeline (NIP), under which over 8,000 infrastructure projects have been announced with an investment of nearly USD 4.51 trillion by 2030. This massive push for ports, railways, and logistics directly influences steel wire rope market growth. Additionally, in the United States, the Bipartisan Infrastructure Law signed in 2021 has earmarked over USD 110 billion for roads, bridges, and critical transport upgrades, areas where heavy-lifting wire ropes are essential. Hence, these government initiatives have compelled manufacturers to come up with advanced ropes that can combat high-tension environments.
Additionally, technological integrations, like IoT-based wear sensors embedded into ropes are gaining traction in the steel wire rope market. Companies are integrating smart solutions that notify wear-and-tear in real time, preventing accidents and downtime. These developments indicate a shift towards smarter, safer, and more efficient steel ropes.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
Competitive Landscape
The industry is transitioning from a volume-based market to a value-based market with smart technologies, specialty coatings, and specialty applications changing the overall dynamics. Leading steel wire rope market players are entirely focused on developing engineered ropes, embedded sensor technology, and sustainable manufacturing. These advancements create opportunities for load monitoring in real time, predictive maintenance, and improved safety plans. Furthermore, the increased use of digital twin technology and AI-based diagnostics is transforming the market.
Furthermore, steel wire rope companies find opportunities by offering lifecycle services, digital fatigue tracking, and OEM partnerships. Firms that invest in R&D for corrosion resistance and remote monitoring are well-positioned to lead the market. Expanding after-sales support, training services, and localised supply networks also enhances customer loyalty and market positioning.
Cortland Limited
Cortland Limited, founded in 2005, manufactures high-performance, heavy-lifting synthetic and steel wire ropes that are critical for offshore applications. Cortland specialises in rope solutions for the oil and gas, marine and defence sectors with customised ropes, tension monitoring systems, and corrosion-resistant coatings.
Anchor Industries Pty Ltd
Anchor Industries Pty Ltd, founded in 1944, based in South Africa, offers high-quality specialty wire rope solutions for mining, construction, and industrial lifting sectors. The company also delivers solutions for turnkey lifting needs and rope testing, to help clients manage risk and downtime for the client, in high-risk performance environments like deep mining shafts, and large volume infrastructure.
Samson Rope Technologies, Inc.
Samson Rope Technologies, Inc. is a pioneering synthetic and hybrid wire rope innovator founded in 1878 and based in Ferndale, Washington. The company serves the marine, arborist, and utility industries by providing lightweight, high-strength alternatives to traditional wire ropes.
Chung Woo Rope Co. Ltd
Chung Woo Rope Co. Ltd, located in Busan, South Korea, manufactures many types of steel wire ropes that address the construction, shipbuilding, and logistics industries. Chung Woo Rope is known for high-precision rope winding technology, and corrosion-resistant coatings that ensure a long-term viable solution in coastal and industrial environments.
Other key players in the market are Teufelberger Holding AG, Fasten Group, and Bekaert Group, among others.
Steel Wire Rope Market Report Snapshots
*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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Key Questions Answered in the Report
In 2025, the steel wire rope market reached an approximate value of USD 9345.29 Million.
The market is projected to grow at a CAGR of 3.40% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach about USD 13055.64 Million by 2035.
Key strategies driving the market include investing in sensor technology, localizing production, collaborating with OEMs, expanding marine-grade offerings, and integrating lifecycle maintenance tools.
Key trends of the market are favourable characteristics of steel wire rope like excellent resistance to impact, durability, high strength, abrasion, and corrosion resistance and growing disposable incomes.
The leading types of lay in the market are regular lay, lang lay, and alternate lay.
The leading coating types of steel wire rope in the market are vinyl, zinc, nylon, and PVC, among others.
The significant applications in the market are oil and gas, heavy machinery, mining, marine, general engineering, and construction, among others.
The major players in the global steel wire rope market are Cortland Limited, Anchor Industries Pty Ltd, Samson Rope Technologies, Inc., Chung Woo Rope Co. Ltd, Teufelberger Holding AG, Fasten Group, and Bekaert Group, among others.
The key challenges hindering companies in the market are high raw material costs, fluctuating steel prices, and safety compliance.
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