Sub Saharan Africa Steel Wire Rope Market Report and Forecast 2024-2032

Sub Saharan Africa Steel Wire Rope Market Outlook

The market size for steel wire rope in Sub Saharan Africa reached a value of more than USD 82.91 million in 2023. The Sub Saharan Africa steel wire rope market is expected to grow at a CAGR of 3.40% between 2024 and 2032, reaching a value of USD 112.46 million by 2032.

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Key Trends in the Market

Steel wire rope is a strong flexible rope prepared by a cold drawing process and are used for lifting heavy objects such as elevators and cranes, as well as for transmitting mechanical power. Steel wire ropes are used in a variety of applications and are preferred due to their superior strength that provides reliability.

• Innovations and developments in steel wire rope is helping in the growth of the Sub Saharan Africa steel wire rope market. There is a strong presence of key market players in the region, and they are focused on launching innovative and cutting-edge steel wires that will increase potential applications.

• Increase in construction processes due to high population growth in the region along with increasing government projects such as road or bridge construction is contributing to the growth of the steel wire rope market in the region. These wires are widely used in construction processes because of their tensile strength, endurance, and flexibility.

• Demand for high carbon steel wire ropes including stainless steel wire ropes and galvanised steel wire ropes have increased to overcome problems such as corrosion. As these steel wire ropes are resistant to corrosion, they have a longer lifespan and offer greater security.

Market Analysis

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Based on type of lay, the Sub Saharan Africa steel wire rope market can be segmented into regular lay, lang lay, and alternate lay. On the basis of strand pattern, the market can be divided into single layer, filler wire, Warrington, and combination. By coating type, the market is divided into vinyl, zinc, nylon, and PVC, among others. Based on application, the market is divided into oil and gas, heavy machinery, mining, marine, general engineering, and construction, among others. By country, the market is segmented into South Africa, Nigeria, Kenya, and Ghana, among others. 

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. The report gives a detailed analysis of the following key players in the Sub Saharan Africa steel wire rope market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.  

• NV Bekaert SA

• Nigerian Ropes Plc

• Ndlovu Wire Ropes

• Rope Constructions Company

• Scaw South Africa (Proprietary) Limited (Scaw)

• Anchor Industries

• Accord Lifting

• Haggie Rand Zimbabwe (Pvt) Ltd

• Others

Market Share by Type of Lay

In regular lay, the strands of the cable flow in the opposite direction making it prone to distortion due to which regular lay steel wire ropes are useful in situations where bending is required. Lang lay steel wire ropes have strands flowing in the same direction which allows easy lifting, hoisting, pulling, or pushing of materials. 

Alternate lay is a mixture of regular lay and lang lay as it consists of three strands of ordinary and three strands of lang lay. It offers properties of both lang lay and regular lay making it more versatile for a wider range of applications, due to which the alternate lay segment is expected to witness growth in the Sub Saharan Africa steel wire rope market.

Market Share by Coating Type

Different coating materials are used for the steel wire rope depending on its application. Nylon is used as a coating to prevent corrosion and wear and tear. PVC and Vinyl both can be used to coat stainless steel and galvanized steel wire rope. PVC is used for flexibility and resistance from water and because it is cost-effective. 

Meanwhile, Nickel is used as a coating when there is a requirement is for hardness, brightness, and improved appearance. Nylon is tougher than any other material and is used for various load running applications. The wide variety of coatings available for steel wire ropes and the added benefits they offer are boosting the Sub Saharan Africa steel wire rope market. 

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Competitive Landscape

NV Bekaert SA is a global company dealing with steel wire transformation and coatings. It was founded in 1880 and has its headquarter in Zwevegem, Belgium. They apply new and unique coating technologies depending on the applications to fulfil the needs and demands of the consumers.

Nigerian Ropes Plc is a global leader in manufacturing cordage and ropes technology, with a strong presence in the Sub Saharan Africa steel wire rope market. It was incorporated in 1960 and has its head office in Lagos, Nigeria. They believe in producing best quality ropes for safety purposes keeping in mind the customers requirements.

Rope Constructions Company founded in 1919 has its headquarter located in Johannesburg, South Africa. They aim to provide the best quality products to the markets they serve including steel wire ropes, lifting equipment, rigging gear, and anchoring equipment.

Other market players include Ndlovu Wire Ropes, Scaw South Africa (Proprietary) Limited (Scaw), Anchor Industries, Accord Lifting, and Haggie Rand Zimbabwe (Pvt) Ltd, among others.

Key Highlights of the Report