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Global Bright Steel Wire Rope Market Size, Share, Forecast: By Type: Fog Ropes, Soft Ropes, Hard Ropes, Others; By Lay Type: Regular, Alternate, Others; By Strand Pattern: Seale Type, Filler Wire Type, Warrington Type, Combination, Others; By Application: Marine, Mining, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Bright Steel Wire Rope Market Outlook
The global bright steel wire rope market is significantly supported by the steel wire rope industry, which attained USD 9.16 billion in 2023. The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.
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The Asia Pacific to Hold Majority of the Market Share of Bright Steel Wire Rope
In recent years, the bright steel wire rope consumption and sales in the countries of the Asia Pacific region, especially in China, Indonesia, and India, have been high. For the global market for bright steel wire rope, North America and Europe are the main regions as they are prominent end users of the oil and gas industry. Bright steel wire rope factories are primarily based in China, India, the United States, Germany and Japan. The bright steel wire rope industry is expected to see a strong growth pattern during the projected period in the Asia Pacific countries, such as China, India, Indonesia, Thailand and Malaysia. China has witnessed significant growth in the demand for bright steel wire rope over the last decade, which can be due to the growth in steel production and investment in infrastructure where lift and motion applications are involved. This is expected to boost the overall market of bright steel wire rope in the forecast period as well.
Bright Steel Wire Rope: Market Segmentation
Bright steel wire rope refers to general wire rope without surface coating. It is free from zinc, tin, copper, and other kinds of metallic coatings. So, they are generally lubricated with grease to prevent deterioration of the wire cord.
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By type, the market is divided into:
- Fog Ropes
- Soft Ropes
- Hard Ropes
- Others
On the basis of lay type, the market is bifurcated into:
- Regular
- Alternate
- Others
Based on strand pattern, the market is segmented into:
- Seale Type
- Filler Wire Type
- Warrington Type
- Combination
- Others
By application, the market is divided into:
- Marine
- Mining
- Oil and Gas
- Aerospace
- Heavy Machines and Cranes
- Elevators
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Growth of Mining Industry to Propel the Market Growth of Bright Steel Wire Rope
The global demand for bright steel wire ropes is dominated by the oil and gas, shipping, and mining sectors. It is predicted that steel wire rope producers will concentrate on economies with substantial steel production and imports. Bright steel wire rope producers have seen rapid growth in revenue since the crude oil crisis and there are a rising number of ventures related to oil extraction, coal mining, and other mineral and industrial drilling. The rainy season causes hinderance in the use of bright steel wire cords. Lack of manpower and lack of employee expertise are other primary obstacles to the development of the global bright steel wire rope industry.
Key Industry Players in the Global Bright Steel Wire Rope Market
The report gives a detailed analysis of the following key players in the global bright steel wire rope market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- YuanBo Engineering Co., Ltd.
- Dunamis Wire Ropes Mfg. LLP
- Tokyo Rope Mfg. Co., Ltd.
- Guizhou Wire Rope Incorporated Company
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Lay Type |
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| Breakup by Strand Pattern |
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| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Bright Steel Wire Rope Market Analysis
8.1 Key Industry Highlights
8.2 Global Bright Steel Wire Rope Historical Market (2018-2023)
8.3 Global Bright Steel Wire Rope Market Forecast (2024-2032)
8.4 Global Bright Steel Wire Rope Market by Type
8.4.1 Fog Ropes
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Soft Ropes
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Hard Ropes
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Bright Steel Wire Rope Market by Lay Type
8.5.1 Regular
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Alternate
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Bright Steel Wire Rope Market by Strand Pattern
8.6.1 Seale Type
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Filler Wire Type
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Warrington Type
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Combination
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Bright Steel Wire Rope Market by Application
8.7.1 Marine
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Mining
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Oil and Gas
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Aerospace
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Heavy Machines and Cranes
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Elevators
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Others
8.8 Global Bright Steel Wire Rope Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Bright Steel Wire Rope Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Bright Steel Wire Rope Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Bright Steel Wire Rope Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Bright Steel Wire Rope Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Bright Steel Wire Rope Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 YuanBo Engineering Co., Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Dunamis Wire Ropes Mfg. LLP
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Tokyo Rope Mfg. Co., Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Guizhou Wire Rope Incorporated Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Bright Steel Wire Rope Market: Key Industry Highlights, 2018 and 2032
2. Global Bright Steel Wire Rope Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Bright Steel Wire Rope Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Bright Steel Wire Rope Historical Market: Breakup by Lay Type (USD Million), 2018-2023
5. Global Bright Steel Wire Rope Market Forecast: Breakup by Lay Type (USD Million), 2024-2032
6. Global Bright Steel Wire Rope Historical Market: Breakup by Strand Pattern (USD Million), 2018-2023
7. Global Bright Steel Wire Rope Market Forecast: Breakup by Strand Pattern (USD Million), 2024-2032
8. Global Bright Steel Wire Rope Historical Market: Breakup by Application (USD Million), 2018-2023
9. Global Bright Steel Wire Rope Market Forecast: Breakup by Application (USD Million), 2024-2032
10. Global Bright Steel Wire Rope Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Bright Steel Wire Rope Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Bright Steel Wire Rope Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Bright Steel Wire Rope Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Bright Steel Wire Rope Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Bright Steel Wire Rope Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Bright Steel Wire Rope Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Bright Steel Wire Rope Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Bright Steel Wire Rope Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Bright Steel Wire Rope Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Bright Steel Wire Rope Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Bright Steel Wire Rope Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Bright Steel Wire Rope Market Structure
Key Questions Answered in the Report
The global bright steel wire rope market is being supported by the steel wire rope industry, which attained a value of nearly USD 9.16 billion in 2023.
The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.
The major drivers of the market include the increased application in oil and gas market, rising investments in infrastructure development activities, the application of bright steel wire in various industries, such as shipping and mining, and the rising demand in industrial drilling activities.
The key trends guiding the market growth include the rising industrialisation and the rapid expansion of the steel market.
The major regions in the market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The major types include fog ropes, soft ropes, and hard ropes, among others.
The significant lay types include regular, and alternate, among others.
The different strand patterns include seale type, filler wire type, warrington type, and combination, among others.
Marine, mining, oil and gas, aerospace, heavy machines and cranes, and elevators, among others are the major applications in the market.
The key players in the global bright steel wire rope market are YuanBo Engineering Co., Ltd., Dunamis Wire Ropes Mfg. LLP, Tokyo Rope Mfg. Co., Ltd., and Guizhou Wire Rope Incorporated Company, among others.
Analyst Review
The global bright steel wire rope market is being aided by the steel wire rope industry, which attained a value of USD 9.16 billion in 2023. The market is driven by the rising application of the product in various industries like oil and gas, shipping, and mining. Aided by the rising industrialisation, the steel wire rope market is expected to witness a further growth between 2024 and 2032, growing at a CAGR of 3.4%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the global bright steel wire rope industry can be segmented into fog ropes, soft ropes, hard ropes, and others. Based on lay type, the market can be segmented into regular, alternate, and others. On the basis of strand pattern, the market can be categorised into seale type, filler wire type, warrington type, combination, and others. Based on application, the market can be divided into marine, mining, oil and gas, aerospace, heavy machines and cranes, elevators, and others. The major regional markets for bright steel wire rope are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific. The key players in the above market include YuanBo Engineering Co., Ltd., Dunamis Wire Ropes Mfg. LLP, Tokyo Rope Mfg. Co., Ltd., Guizhou Wire Rope Incorporated Company, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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