Dublin, June 17, 2024 (GLOBE NEWSWIRE) — The “Steel Wire – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Steel Wire is estimated at US$116.5 Billion in 2023 and is projected to reach US$186 Billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The Carbon Steel Wire segment is projected to experience significant growth, reaching US$137.6 billion by 2030 with a compound annual growth rate (CAGR) of 6.7%. Similarly, the Stainless Steel Wire segment is expected to grow at a 6% CAGR over the next seven years. This indicates a robust market trajectory driven by increasing demand and industrial applications.
In regional terms, the U.S. market for steel wire is estimated at $30.3 billion in 2023. China stands out with an impressive forecasted growth, projected to grow at a 10.6% CAGR and reach $45.2 billion by 2030. Other regions, including Japan, Canada, Germany, and the broader Asia-Pacific, are also showing strong growth trends, highlighting the global expansion of the steel wire market.
The report provides comprehensive market data through independent analysis of annual sales and market forecasts in US$ million from 2023 to 2030. This detailed financial outlook offers a clear view of the market’s expected performance over the next several years, helping stakeholders to plan strategically.
In-depth regional analysis offers detailed insights into key markets such as the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Understanding the market dynamics and growth opportunities in these regions is crucial for stakeholders looking to expand their market presence and capitalize on regional growth trends.
Additionally, the report profiles major players in the steel wire market, including Ansteel Group Corporation Limited, ArcelorMittal S.A, and Bridon International Ltd. These profiles provide valuable information on each company’s market presence, product offerings, and strategic initiatives, enabling stakeholders to understand the competitive landscape and identify potential opportunities for collaboration and competition.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 263 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $116.5 Billion |
| Forecasted Market Value (USD) by 2030 | $186 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Steel Wire Market – A Prelude
- Steel Industry – Are the Worst Times Over?
- Recent Market Activity
- Steel Market Witnesses Uptick in Demand and Prices
- Overcapacity & Inventory Levels – A Review
- China Holds the Key
- Chinese Steel Consumption to Slow Down -India Could Fill the Gap with Growing Appetite for the Metal
- Global Demand for Steel to Slowdown in 2018 due to Chinese Curbs on Excess Capacity
- China Announces Plans to Cap Steel Production
- Steel Wire – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Impact of US Steel Tariffs – A Brief Review
- US Import Tariffs on Steel to hurt South Korea and EU Countries the Most
- Steel Industry – A Statistical Overview
- Construction Industry: A Major End-Use Market
- Global Economic Update
MARKET TRENDS & DRIVERS
- Globalization & Rationalization – A Surviving Strategy
- Outlook for the Steel Industry
- Emerging Economies to Considerably Impel Global Steel Demand
- Improving Economy Buoys General Market Optimism
- Steel Industry Fortunes Intrinsically Tied to Construction Industry Dynamics
- Increase in Automotive Production to Boost Market Prospects for Steel Wire
- Oil & Gas Sector – Dynamic as Ever
- Excess Production Results in Low Oil Prices
- Steadily Increasing Prices Result in Higher Rig Counts in 2017 & 2018
- Transition in Wafer Fabrication Technology to Add to the Growth in Steel Wire Market
- Developing Countries Continue to Drive Growth Opportunities in the Market
- Cost Efficient Manufacturing in Focus
- High-Quality Steel Wire Rods in Demand for Production of Steel Wires
FOCUS ON SELECT PLAYERS(Total 182 Featured)
- Ansteel Group Corporation Limited (China)
- ArcelorMittal S.A (Luxembourg)
- China Baowu Steel Group Corporation Limited (China)
- Bridon International Ltd. (UK)
- Gerdau S.A. (Brazil)
- HBIS Group (China)
- Heico Wire Group (USA)
- Davis Wire Corporation (USA)
- National Standard (USA)
- Insteel Industries, Inc. (USA)
- JFE Steel Corporation (Japan)
- Jiangsu Shagang Group (China)
- Kobe Steel, Ltd. (Japan)
- Leggett & Platt Incorporated (USA)
- Nippon Steel & Sumitomo Metal Corporation (Japan)
- NV Bekaert SA (Belgium)
- POSCO (South Korea)
- Shougang Corporation (China)
- Tata Steel Group (India)
- Tree Island Industries Ltd. (Canada)
- thyssenkrupp Steel Europe AG (Germany)
- Usha Martin Limited (India)
For more information about this report visit https://www.researchandmarkets.com/r/oggx3s
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