Wire & Spring Manufacturing in the US
Operators in the Wire and Spring Manufacturing industry produce a wide range of fabricated metal products. Demand for industry products is closely correlated with developments in the construction and auto industry. Intense competition from low-cost imports from countries such as China and Mexico has increasingly constrained industry performance over the five years to 2019. Furthermore, as the world price of steel experienced volatility over the past five years, operators had trouble securing stable purchasing arrangements, resulting in fluctuations in selling prices. However, downstream markets, such as automobile steering and suspension manufacturers, have largely performed well over the past five years. Overall, industry revenue is anticipated to increase during the current period. Over the five years to 2024, industry revenue is forecast to continue rising, albeit at a slower rate, as industry operators find new initiatives to compete with foreign operators.
Operators in this industry manufacture heavy gauge and light gauge springs using steel and drawn wire, in addition to manufacturing other wire-based products such as wire rope, wire mesh and chain link fencing.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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