Summary

The steel wire rope market size was valued at US$ 9.80 billion in 2023 and is projected to reach US$ 13.59 billion by 2031; it is estimated to register a CAGR of 4.5% from 2023 to 2031.

Based on end use, the market is segmented into mining, oil and gas, building and construction, marine and fishing, and others. The building and construction segment held the largest share in 2023. In the construction industry, various equipment are used to carry heavy materials such as cement blocks, as well as other machinery. Equipment is also used to secure rebars, lift elevators, carry materials, and perform other heavy-load applications. Depending on applications, multiple types of steel wires are used in the construction industry. Scaffolding made and suspended by stainless steel wire, cable-stayed bridges, building anchors, lifting equipment, and slope stabilization systems all depend on this material’s corrosion resistance and strength. Therefore, steel wire rope has a wide range of applications in the building and construction industry due to its high durability and strength. It is used in the construction of structural systems such as bridges, roof structures, stayed masts and towers, and other specialized structural projects.

Asia Pacific is a major hub for oil and gas exploration and production, as well as trade activities. Governments of various countries in Asia Pacific have initiated projects to address the rising demand for oil and gas in their countries. In April 2023, Indradhanush Gas Grid Limited (IGGL) completed Asia's largest underwater hydrocarbon pipeline below the Brahmaputra River. The pipeline connects Jorhat and Majuli in Assam, India. In May 2023, Oil and Natural Gas Corporation (ONGC) discovered two major oil and gas reserves in the Arabian Sea block off the Mumbai coast, India. As per the United Nations Conference on Trade and Development, in 2021, Asia was the major maritime cargo handling center, accounting for 40% of total containerized trade on the main East-West routes between Asia, Europe, and the US.

According to the US Energy Information Administration, China imported high volumes of crude oil during the first half of 2023. This increase is specifically attributed to the expansion of refineries in the country and initiatives to reopen the economy after the government eased restrictions related to the COVID-19 pandemic. In October 2023, the state of Western Australia released 8 onshore blocks for oil and gas exploration. In the oil & gas industry, steel wire rope is utilized in drilling applications due to its properties such as high tensile strength, rust resistance, and corrosion resistance. Thus, the development of oil & gas and construction industries in Asia Pacific is expected to boost the steel wire rope market over the coming years.

A few players operating in the global steel wire rope market include Drahtseile Gebr Henschel GmbH, Usha Martin Ltd, Asahi Intecc Co Ltd, Tyler Madison Inc, Central Wire Inc, TEUFELBERGER, ArcelorMittal SA, PFEIFER Holding GmbH & Co. KG, WireCo, and Bekaert. Players operating in the market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.

The overall global steel wire rope market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the steel wire rope market.

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Table of Contents

TABLE OF CONTENTS

1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
1.3 Limitations and Assumptions
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Steel Wire Rope Market Landscape
4.1 Overview
4.2 Porters Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers:
4.3.2 Manufacturers:
4.3.3 Distributors/Suppliers:
4.3.4 End-Use Industry:
4.3.5 List of Vendors in the Value Chain
5. Steel Wire Rope Market – Key Market Dynamics
5.1 Steel Wire Rope Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Strong Growth in Building and Construction Industry
5.2.2 High Demand for Steel Wire Ropes from Oil & Gas Industry
5.3 Restraint
5.3.1 Fluctuations in Prices of Raw Materials
5.4 Future Trend
5.4.1 Focus on Recycling Steel Wire Ropes
5.5 Opportunity
5.5.1 Increasing Demand for Galvanized Steel Wire Ropes
5.6 Impact Analysis
6. Steel Wire Rope Market – Global Market Analysis
6.1 Steel Wire Rope Market Volume (Kilo Tons), 2021–2031
6.2 Steel Wire Rope Market Volume Forecast and Analysis (Kilo Tons)
6.3 Steel Wire Rope Market Revenue (US$ Million), 2023–2031
6.4 Steel Wire Rope Market Forecast and Analysis
7. Steel Wire Rope Market Volume and Revenue Analysis – by Product Type
7.1 Stainless Steel Wire Rope
7.1.1 Overview
7.1.2 Stainless Steel Wire Rope: Steel Wire Rope Market – Volume and Forecast to 2031 (Kilo Tons)
7.1.3 Stainless Steel Wire Rope: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Galvanized Steel Wire Rope
7.2.1 Overview
7.2.2 Galvanized Steel Wire Rope: Steel Wire Rope Market – Volume and Forecast to 2031 (Kilo Tons)
7.2.3 Galvanized Steel Wire Rope: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Carbon Steel Wire Ropes
7.3.1 Overview
7.3.2 Carbon Steel Wire Ropes: Steel Wire Rope Market – Volume and Forecast to 2031 (Kilo Tons)
7.3.3 Carbon Steel Wire Ropes: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Coated Steel Wire Ropes
7.4.1 Overview
7.4.2 Coated Steel Wire Ropes: Steel Wire Rope Market – Volume and Forecast to 2031 (Kilo Tons)
7.4.3 Coated Steel Wire Ropes: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
8. Steel Wire Rope Market Revenue Analysis – by Type
8.1 Regular Lay
8.1.1 Overview
8.1.2 Regular Lay: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Lang Lay
8.2.1 Overview
8.2.2 Lang Lay: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
9. Steel Wire Rope Market Revenue Analysis – by End Use
9.1 Mining
9.1.1 Overview
9.1.2 Mining: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Oil and Gas
9.2.1 Overview
9.2.2 Oil and Gas: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Building and Construction
9.3.1 Overview
9.3.2 Building and Construction: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Marine and Fishing
9.4.1 Overview
9.4.2 Marine and Fishing: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10. Steel Wire Rope Market – Geographical Analysis
10.1 Overview
10.2 North America
10.2.1 North America Steel Wire Rope Market Overview
10.2.2 North America Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.2.3 North America Steel Wire Rope Market Breakdown by Product Type
10.2.3.1 North America Steel Wire Rope Market Volume and Forecast and Analysis – by Product Type
10.2.3.2 North America Steel Wire Rope Market Revenue and Forecast and Analysis – by Product Type
10.2.4 North America Steel Wire Rope Market Breakdown by Type
10.2.4.1 North America Steel Wire Rope Market Revenue and Forecast and Analysis – by Type
10.2.5 North America Steel Wire Rope Market Breakdown by End Use
10.2.5.1 North America Steel Wire Rope Market Revenue and Forecast and Analysis – by End Use
10.2.6 North America Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.2.6.1 North America Steel Wire Rope Market Volume and Forecast and Analysis – by Country
10.2.6.2 North America Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.2.6.3 United States Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.3.1 United States Steel Wire Rope Market Breakdown by Product Type
10.2.6.3.2 United States Steel Wire Rope Market Breakdown by Type
10.2.6.3.3 United States Steel Wire Rope Market Breakdown by End Use
10.2.6.4 Canada Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.4.1 Canada Steel Wire Rope Market Breakdown by Product Type
10.2.6.4.2 Canada Steel Wire Rope Market Breakdown by Type
10.2.6.4.3 Canada Steel Wire Rope Market Breakdown by End Use
10.2.6.5 Mexico Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.5.1 Mexico Steel Wire Rope Market Breakdown by Product Type
10.2.6.5.2 Mexico Steel Wire Rope Market Breakdown by Type
10.2.6.5.3 Mexico Steel Wire Rope Market Breakdown by End Use
10.3 Europe
10.3.1 Europe Steel Wire Rope Market Overview
10.3.2 Europe Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.3.3 Europe Steel Wire Rope Market Breakdown by Product Type
10.3.3.1 Europe Steel Wire Rope Market Volume and Forecast and Analysis – by Product Type
10.3.3.2 Europe Steel Wire Rope Market Revenue and Forecast and Analysis – by Product Type
10.3.4 Europe Steel Wire Rope Market Breakdown by Type
10.3.4.1 Europe Steel Wire Rope Market Revenue and Forecast and Analysis – by Type
10.3.5 Europe Steel Wire Rope Market Breakdown by End Use
10.3.5.1 Europe Steel Wire Rope Market Revenue and Forecast and Analysis – by End Use
10.3.6 Europe Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.3.6.1 Europe Steel Wire Rope Market Volume and Forecast and Analysis – by Country
10.3.6.2 Europe Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.3.6.3 Germany Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.3.1 Germany Steel Wire Rope Market Breakdown by Product Type
10.3.6.3.2 Germany Steel Wire Rope Market Breakdown by Type
10.3.6.3.3 Germany Steel Wire Rope Market Breakdown by End Use
10.3.6.4 France Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.4.1 France Steel Wire Rope Market Breakdown by Product Type
10.3.6.4.2 France Steel Wire Rope Market Breakdown by Type
10.3.6.4.3 France Steel Wire Rope Market Breakdown by End Use
10.3.6.5 United Kingdom Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.5.1 United Kingdom Steel Wire Rope Market Breakdown by Product Type
10.3.6.5.2 United Kingdom Steel Wire Rope Market Breakdown by Type
10.3.6.5.3 United Kingdom Steel Wire Rope Market Breakdown by End Use
10.3.6.6 Italy Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.6.1 Italy Steel Wire Rope Market Breakdown by Product Type
10.3.6.6.2 Italy Steel Wire Rope Market Breakdown by Type
10.3.6.6.3 Italy Steel Wire Rope Market Breakdown by End Use
10.3.6.7 Russia Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.7.1 Russia Steel Wire Rope Market Breakdown by Product Type
10.3.6.7.2 Russia Steel Wire Rope Market Breakdown by Type
10.3.6.7.3 Russia Steel Wire Rope Market Breakdown by End Use
10.3.6.8 Rest of Europe Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.8.1 Rest of Europe Steel Wire Rope Market Breakdown by Product Type
10.3.6.8.2 Rest of Europe Steel Wire Rope Market Breakdown by Type
10.3.6.8.3 Rest of Europe Steel Wire Rope Market Breakdown by End Use
10.4 Asia Pacific
10.4.1 Asia Pacific Steel Wire Rope Market Overview
10.4.2 Asia Pacific Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.4.3 Asia Pacific Steel Wire Rope Market Breakdown by Product Type
10.4.3.1 Asia Pacific Steel Wire Rope Market Volume and Forecast and Analysis – by Product Type
10.4.3.2 Asia Pacific Steel Wire Rope Market Revenue and Forecast and Analysis – by Product Type
10.4.4 Asia Pacific Steel Wire Rope Market Breakdown by Type
10.4.4.1 Asia Pacific Steel Wire Rope Market Revenue and Forecast and Analysis – by Type
10.4.5 Asia Pacific Steel Wire Rope Market Breakdown by End Use
10.4.5.1 Asia Pacific Steel Wire Rope Market Revenue and Forecast and Analysis – by End Use
10.4.6 Asia Pacific Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.4.6.1 Asia Pacific Steel Wire Rope Market Volume and Forecast and Analysis – by Country
10.4.6.2 Asia Pacific Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.4.6.3 Australia Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.3.1 Australia Steel Wire Rope Market Breakdown by Product Type
10.4.6.3.2 Australia Steel Wire Rope Market Breakdown by Type
10.4.6.3.3 Australia Steel Wire Rope Market Breakdown by End Use
10.4.6.4 China Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.4.1 China Steel Wire Rope Market Breakdown by Product Type
10.4.6.4.2 China Steel Wire Rope Market Breakdown by Type
10.4.6.4.3 China Steel Wire Rope Market Breakdown by End Use
10.4.6.5 India Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.5.1 India Steel Wire Rope Market Breakdown by Product Type
10.4.6.5.2 India Steel Wire Rope Market Breakdown by Type
10.4.6.5.3 India Steel Wire Rope Market Breakdown by End Use
10.4.6.6 Japan Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.6.1 Japan Steel Wire Rope Market Breakdown by Product Type
10.4.6.6.2 Japan Steel Wire Rope Market Breakdown by Type
10.4.6.6.3 Japan Steel Wire Rope Market Breakdown by End Use
10.4.6.7 South Korea Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.7.1 South Korea Steel Wire Rope Market Breakdown by Product Type
10.4.6.7.2 South Korea Steel Wire Rope Market Breakdown by Type
10.4.6.7.3 South Korea Steel Wire Rope Market Breakdown by End Use
10.4.6.8 Rest of APAC Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.8.1 Rest of APAC Steel Wire Rope Market Breakdown by Product Type
10.4.6.8.2 Rest of APAC Steel Wire Rope Market Breakdown by Type
10.4.6.8.3 Rest of APAC Steel Wire Rope Market Breakdown by End Use
10.5 Middle East and Africa
10.5.1 Middle East and Africa Steel Wire Rope Market Overview
10.5.2 Middle East and Africa Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.5.3 Middle East and Africa Steel Wire Rope Market Breakdown by Product Type
10.5.3.1 Middle East and Africa Steel Wire Rope Market Volume and Forecast and Analysis – by Product Type
10.5.3.2 Middle East and Africa Steel Wire Rope Market Revenue and Forecast and Analysis – by Product Type
10.5.4 Middle East and Africa Steel Wire Rope Market Breakdown by Type
10.5.4.1 Middle East and Africa Steel Wire Rope Market Revenue and Forecast and Analysis – by Type
10.5.5 Middle East and Africa Steel Wire Rope Market Breakdown by End Use
10.5.5.1 Middle East and Africa Steel Wire Rope Market Revenue and Forecast and Analysis – by End Use
10.5.6 Middle East and Africa Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.5.6.1 Middle East and Africa Steel Wire Rope Market Volume and Forecast and Analysis – by Country
10.5.6.2 Middle East and Africa Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.5.6.3 South Africa Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.3.1 South Africa Steel Wire Rope Market Breakdown by Product Type
10.5.6.3.2 South Africa Steel Wire Rope Market Breakdown by Type
10.5.6.3.3 South Africa Steel Wire Rope Market Breakdown by End Use
10.5.6.4 Saudi Arabia Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.4.1 Saudi Arabia Steel Wire Rope Market Breakdown by Product Type
10.5.6.4.2 Saudi Arabia Steel Wire Rope Market Breakdown by Type
10.5.6.4.3 Saudi Arabia Steel Wire Rope Market Breakdown by End Use
10.5.6.5 United Arab Emirates Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.5.1 United Arab Emirates Steel Wire Rope Market Breakdown by Product Type
10.5.6.5.2 United Arab Emirates Steel Wire Rope Market Breakdown by Type
10.5.6.5.3 United Arab Emirates Steel Wire Rope Market Breakdown by End Use
10.5.6.6 Rest of Middle East and Africa Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.6.1 Rest of Middle East and Africa Steel Wire Rope Market Breakdown by Product Type
10.5.6.6.2 Rest of Middle East and Africa Steel Wire Rope Market Breakdown by Type
10.5.6.6.3 Rest of Middle East and Africa Steel Wire Rope Market Breakdown by End Use
10.6 South and Central America
10.6.1 South and Central America Steel Wire Rope Market Overview
10.6.2 South and Central America Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.6.3 South and Central America Steel Wire Rope Market Breakdown by Product Type
10.6.3.1 South and Central America Steel Wire Rope Market Volume and Forecast and Analysis – by Product Type
10.6.3.2 South and Central America Steel Wire Rope Market Revenue and Forecast and Analysis – by Product Type
10.6.4 South and Central America Steel Wire Rope Market Breakdown by Type
10.6.4.1 South and Central America Steel Wire Rope Market Revenue and Forecast and Analysis – by Type
10.6.5 South and Central America Steel Wire Rope Market Breakdown by End Use
10.6.5.1 South and Central America Steel Wire Rope Market Revenue and Forecast and Analysis – by End Use
10.6.6 South and Central America Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.6.6.1 South and Central America Steel Wire Rope Market Volume and Forecast and Analysis – by Country
10.6.6.2 South and Central America Steel Wire Rope Market Revenue and Forecast and Analysis – by Country
10.6.6.3 Brazil Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.3.1 Brazil Steel Wire Rope Market Breakdown by Product Type
10.6.6.3.2 Brazil Steel Wire Rope Market Breakdown by Type
10.6.6.3.3 Brazil Steel Wire Rope Market Breakdown by End Use
10.6.6.4 Argentina Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.4.1 Argentina Steel Wire Rope Market Breakdown by Product Type
10.6.6.4.2 Argentina Steel Wire Rope Market Breakdown by Type
10.6.6.4.3 Argentina Steel Wire Rope Market Breakdown by End Use
10.6.6.5 Rest of South and Central America Steel Wire Rope Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.5.1 Rest of South and Central America Steel Wire Rope Market Breakdown by Product Type
10.6.6.5.2 Rest of South and Central America Steel Wire Rope Market Breakdown by Type
10.6.6.5.3 Rest of South and Central America Steel Wire Rope Market Breakdown by End Use
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Drahtseile Gebr Henschel GmbH
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Usha Martin Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Asahi Intecc Co Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Tyler Madison Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Central Wire Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 TEUFELBERGER
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 ArcelorMittal SA
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 PFEIFER Holding GmbH & Co. KG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 WireCo
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 STRENGTHS
13.9.7 Key Developments
13.10 Bekaert
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners