Steel Rope Market
Steel Rope Market Global Industry Assessment & Forecast
Segments Covered
- By Type Left Regular Lay, Left Lang Lay, Right Regular Lay
- By Application Oil and Gas, Fishing and Marine, Mining
Snapshot
Forecast Years: | 2021 - 2028 |
Historical Years: | 2016 - 2020 |
Revenue 2021: | 11.9 Billion |
Revenue 2028: | 17.5 Billion |
Revenue CAGR (2021 - 2028): | 8 |
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
Research Methodology: Steel Rope Market - Global Market Assessment, 2021 - 2028
The research process involves the exhaustive study of several factors impacting industry dynamics such as competitive landscape, government policies, historical outlook, current market scenario, and other macro/micro factors. The whole research process is divided into three stages namely: Secondary Research, Primary Research, and Data Triangulation. The ratio of the resources involved in each stage differs as per the data availability for a particular section of the report or as per the market dynamics. We have conducted more than 150 primary interviews during the Steel Rope market study either through mail or telephone call. Out of the total primary respondents, 30% were from North America, 24% were from Europe, 33% were from the Asia Pacific, and the rest of the respondents were from Latin America and MEA
Secondary Research
Primary Research:
After the secondary research, primary research was used to derive and estimate market numbers for mentioned segments/sub-segments in the Steel Rope market. During the primary data collection process, the secondary data was analyzed and revalidated through exhaustive primary research. This helps to study any minutest details of the market along with building a clearer market-specific view for revenue estimations, industry trends, within each end0use industry, and estimate future trends within the market.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Steel Rope market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statistics and future market trends.
FAQ
Frequently Asked Question
What is the global demand for Steel Rope in terms of revenue?
-
The global Steel Rope valued at 11.9 Billion in 2020 and is expected to reach 17.5 Billion in 2028 growing at a CAGR of 8%.
Which are the prominent players in the market?
-
The prominent players in the market are Tokyo Rope, Fasten Group, WireCo World Group, Jiangsu Langshan, Guizhou Wire Rope, Usha Martin, Bekaert, Kiswire, Xinri Hengli, Bridon..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 8% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Steel Rope include
- The maximum applicability in the marine & fishing and mining sectors is driving factor for Steel Rope Market.
- Raw materials or plastic fibers, such as PE, PP, and nylon, used for manufacturing ropes are less in strength and less durable than steel which is another driving factor for Steel Rope Market.
Which region accounted for the largest share in the market?
-
Asia-Pacific was the leading regional segment of the Steel Rope in 2020.