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The steel wire market report offers a comprehensive analysis of the strategies adopted by vendors and the trends, drivers, and challenges affecting the market size. One of the key factors driving the global steel wire market growth is the growth of the automotive sector in countries, such as India and China, the US, Germany, and the UK. Companies such as Volkswagen, BMW, Tata Motors, Honda Motor, Fiat, and Daimler are making heavy capital investments to set up their manufacturing plants in India and China. The governments are promoting the sales of EVs owing to increasing environmental concerns related to the use of fossil fuel vehicles. The automotive industry is the major end-user of large volumes of steel wires for manufacturing operations. Hence, the growth of the automotive industry, majorly driven by the growth of EVs, will drive the concerned market growth during the forecast period.
However, one of the key challenges to the global steel wire market growth is the presence of substitutes such as plastic wire, titanium alloy wire, and polyester and fiber wire. Fiber wire is made from ultra-High molecular weight polyethylene (UHMWPE) fiber that provides strong, durable, and efficient rope for the marine, arborist, nautical, off-roading, and other manufacturing industries. Fiber wire offers high-performance strength and low weight, which ensures that it is safer to use than steel wire. The presence of many substitutes will hamper the growth of the global steel wire market during the forecast period.
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Technavio analyzes the market by End-user (Construction, Automotive, Industrial, and Others) and Geography (APAC, North America, Europe, Middle East, and Africa, and South America).
Revenue-generating Segment Insights: The steel wire market share growth in the construction segment will be significant during the forecast period. Workers use these wires to lift heavy things such as cement blocks, machinery, or even people in the lift. Growth in urbanization and a significant increase in infrastructure investments will be driving the market for steel wires in the construction sector in the coming years.
Regional Opportunities: 51% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for steel wires in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growth of end-user industries such as automotive and construction in countries such as China, Japan, and India will fuel the steel wire market growth in APAC over the forecast period.
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The steel wire market covers the following areas:
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters
Steel Wire Market Sizing
Steel Wire Market Forecast
Steel Wire Market Analysis
Companies Mentioned
The steel wire market is fragmented and the vendors are deploying growth strategies such as M&A activities to compete in the market. This statistical study of the steel wire market encompasses successful business strategies deployed by the key vendors. The steel wire market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
- ArcelorMittal SA
- Byelorussian Steel Works
- CITIC Ltd.
- Dwk Drahtwerk Koln GmbH
- Fagersta Stainless AB
- Fapricela industria de Trefilaria S.A.
- Huaxiao Metal Corp. Ltd.
- Insteel Industries Inc.
- Intersig
- Kamaridis GlobalWire Group
- KEI Industries Ltd.
- METALLURGICA ALTA BRIANZA SPA
- Nippon Steel Corp.
- Nucor Corp.
- NV Bekaert SA
- Shaanxi Tonghui Steel Co. Ltd.
- Tata Steel Ltd.
- The Heico Companies LLC
- Viraj Profiles Ltd.
- voestalpine AG
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Steel Wire Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 4.37% |
Market growth 2022-2026 |
$ 570 million |
Market structure |
Fragmented |
YoY growth (%) |
4.77 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 51% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ArcelorMittal SA, Byelorussian Steel Works, CITIC Ltd., Dwk Drahtwerk Koln GmbH, Fagersta Stainless AB, Fapricela industria de Trefilaria S.A., Huaxiao Metal Corp. Ltd., Insteel Industries Inc., Intersig, Kamaridis GlobalWire Group, KEI Industries Ltd., METALLURGICA ALTA BRIANZA SPA, Nippon Steel Corp., Nucor Corp., NV Bekaert SA, Shaanxi Tonghui Steel Co. Ltd., Tata Steel Ltd., The Heico Companies LLC, Viraj Profiles Ltd., and voestalpine AG |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
- 5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user
- 5.3 Construction - Market size and forecast 2021-2026
- Exhibit 28: Chart on Construction - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Construction - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Construction - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Construction - Year-over-year growth 2021-2026 (%)
- 5.4 Automotive - Market size and forecast 2021-2026
- Exhibit 32: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Automotive - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Automotive - Year-over-year growth 2021-2026 (%)
- 5.5 Industrial - Market size and forecast 2021-2026
- Exhibit 36: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Industrial - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Industrial - Year-over-year growth 2021-2026 (%)
- 5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.7 Market opportunity by End-user
- Exhibit 44: Market opportunity by End-user ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.9 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 Japan - Market size and forecast 2021-2026
- Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.12 South Korea - Market size and forecast 2021-2026
- Exhibit 86: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on South Korea - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on South Korea - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026
9 Vendor Landscape
- 9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 94: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 95: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification
- 10.3 ArcelorMittal SA
- Exhibit 97: ArcelorMittal SA - Overview
- Exhibit 98: ArcelorMittal SA - Business segments
- Exhibit 99: ArcelorMittal SA - Key news
- Exhibit 100: ArcelorMittal SA - Key offerings
- Exhibit 101: ArcelorMittal SA - Segment focus
- 10.4 Byelorussian Steel Works
- Exhibit 102: Byelorussian Steel Works - Overview
- Exhibit 103: Byelorussian Steel Works - Product / Service
- Exhibit 104: Byelorussian Steel Works - Key offerings
- 10.5 Huaxiao Metal Corp. Ltd.
- Exhibit 105: Huaxiao Metal Corp. Ltd. - Overview
- Exhibit 106: Huaxiao Metal Corp. Ltd. - Product / Service
- Exhibit 107: Huaxiao Metal Corp. Ltd. - Key offerings
- 10.6 Nippon Steel Corp.
- Exhibit 108: Nippon Steel Corp. - Overview
- Exhibit 109: Nippon Steel Corp. - Business segments
- Exhibit 110: Nippon Steel Corp. - Key offerings
- Exhibit 111: Nippon Steel Corp. - Segment focus
- 10.7 Nucor Corp.
- Exhibit 112: Nucor Corp. - Overview
- Exhibit 113: Nucor Corp. - Business segments
- Exhibit 114: Nucor Corp. - Key news
- Exhibit 115: Nucor Corp. - Key offerings
- Exhibit 116: Nucor Corp. - Segment focus
- 10.8 NV Bekaert SA
- Exhibit 117: NV Bekaert SA - Overview
- Exhibit 118: NV Bekaert SA - Business segments
- Exhibit 119: NV Bekaert SA - Key news
- Exhibit 120: NV Bekaert SA - Key offerings
- Exhibit 121: NV Bekaert SA - Segment focus
- 10.9 Tata Steel Ltd.
- Exhibit 122: Tata Steel Ltd. - Overview
- Exhibit 123: Tata Steel Ltd. - Business segments
- Exhibit 124: Tata Steel Ltd. - Key news
- Exhibit 125: Tata Steel Ltd. - Key offerings
- Exhibit 126: Tata Steel Ltd. - Segment focus
- 10.10 The Heico Companies LLC
- Exhibit 127: The Heico Companies LLC - Overview
- Exhibit 128: The Heico Companies LLC - Product / Service
- Exhibit 129: The Heico Companies LLC - Key offerings
- 10.11 Viraj Profiles Ltd.
- Exhibit 130: Viraj Profiles Ltd. - Overview
- Exhibit 131: Viraj Profiles Ltd. - Product / Service
- Exhibit 132: Viraj Profiles Ltd. - Key offerings
- 10.12 voestalpine AG
- Exhibit 133: voestalpine AG - Overview
- Exhibit 134: voestalpine AG - Business segments
- Exhibit 135: voestalpine AG - Key offerings
- Exhibit 136: voestalpine AG - Segment focus
11 Appendix
- 11.2 Inclusions and exclusions checklist
- Exhibit 137: Inclusions checklist
- Exhibit 138: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 139: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 140: Research methodology
- Exhibit 141: Validation techniques employed for market sizing
- Exhibit 142: Information sources
- 11.5 List of abbreviations
- Exhibit 143: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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