Iron Or Steel Wire Rod Market
Iron Or Steel Wire Rod Market Global Industry Assessment & Forecast
#
Pages:
175
2021
Nov - 2021
VMR-2021-0309
Segments Covered
By
Type Round Steel Wire Rope, Weave Steel Wire Rope, Oblate Steel Wire Rope
-
By
Application Oil and gas, Construction, Elevator, Port crane, Mining, Other
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
8.7 Billion |
 Revenue 2028:
|
12.0 Billion |
 Revenue CAGR
(2021 - 2028): |
6 |
Fastest Growing Region (2022 -
2028)
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Type Analysis: Preview On the basis of Type,
the market is segmented into Round Steel Wire Rope, Weave Steel Wire Rope, Oblate Steel Wire Rope. LED held the
highest share in 2020 and is expected to grow at a significant rate over the
forecast period. This is attributed to the rising demand for the LED
in developing countries such as China and India. Digitalization in Asia Pacific
region has led to a surge in the usage of technology in various business
processes over the past few years. Rising adoption of online platforms across
various sectors along with analytical solutions, IoT, AI, and Blockchain
technology to gain a competitive advantage is also paving the way for the Iron Or Steel Wire Rod
market growth. Application
Analysis: Preview
Based on Application,
the market is segmented into Oil and gas, Construction, Elevator, Port crane, Mining, Other. Railway held the
largest share and is projected to grow at a notable CAGR over the coming years.
Rising demand for Iron Or Steel Wire Rod in various countries
such as the U.S., Germany, China, India, and Japan, among others is likely to
support the growth of the market. Numerous companies are focusing on investing
heavily in this application to cater the end user requirements effectively.
Global Iron Or Steel Wire Rod Market: Type Segment Analysis
-
- Round Steel Wire Rope
- Weave Steel Wire Rope
- Oblate Steel Wire Rope
Global Iron Or Steel Wire Rod Market: Application Segment Analysis
-
- Oil and gas
- Construction
- Elevator
- Port crane
- Mining
- Other
FAQ
Frequently Asked Question
What is the global demand for Iron Or Steel Wire Rod in terms of revenue?
-
The global Iron Or Steel Wire Rod valued at 8.7 Billion in 2020 and is expected to reach 12.0 Billion in 2028 growing at a CAGR of 6%.
Which are the prominent players in the market?
-
The prominent players in the market are Metallia U.S.A. LLC, Republic Steel, King Steel, Cascade Steel Rolling Mills Inc., North American Stainless, Global Steel Wire, Keystone Consolidated Industries Inc., Greenmount Corporation..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 6% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Iron Or Steel Wire Rod include
- The requirement for stainless steel wire rods is progressing in automotive manufacturing is driving the demand for Iron Or Steel Wire Rod Market.
- The demand for stainless steel wire rods is rising from the construction industry owing to its semi-ductile properties thus, fueling the Iron Or Steel Wire Rod Market.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Iron Or Steel Wire Rod in 2020.
