The steel wire market is projected to reach USD 116.89 billion by 2033, up from USD 68.74 billion in 2023, reflecting a compound annual growth rate (CAGR) of 6.12% from 2023 to 2033. This market encompasses the production, distribution, and use of steel wire across various industries, including construction, automotive, manufacturing, and aerospace. Growth drivers include increasing urbanization, infrastructure development, and the expansion of the automotive sector. The market is competitive, with major players investing in research and development to maintain their edge. It is segmented by form, type, and end-use industry, with construction being the largest application segment. From 2022 to 2030, the market is anticipated to grow at a CAGR of 4.7%.
The latest research report by Evolve Business Intelligence explores the various factors influencing the global market. It includes an analysis of the current market size, forecasts for key segments and regions, and the driving forces behind market growth. The report examines the potential impacts of key trends on business strategies and provides a SWOT analysis of critical sectors for each major competitor and customer group. This valuable data highlights the conglomerates likely to impact the industry, crucial for any company planning to invest strategically over the next five years. These insights complement our initial quantitative study, aiding in new investments and strategic planning to mitigate threats in existing sectors.
Segments covered
By Type (Carbon Steel, Alloy Steel, Stainless Steel, Others)
By Form (Non-rope, Rope)
By Application (0.01 mm to 0.8 mm, 0.8 mm to 1.6 mm, 1.6 mm to 4 mm, 4 mm & above)
By End Use (Construction, Automotive, Energy, Agriculture, Industrial, Others)
Key players
ArcelorMittal
Nippon Steel
JFE Steel Corporation
TATA Steel Limited
Kobe Steel, Ltd
JSW Steel Ltd.
Bekaert SA
The Heico Companies
Ferrier Nord
Byelorussian Steel Works
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