The future of the global steel wire market looks promising with opportunities in the construction, automotive, energy, agriculture, and industrial markets. The global steel wire market is expected to reach an estimated $147.9 billion by 2030 with a CAGR of 4.5% from 2024 to 2030. The major drivers for this market are rising infrastructural development activities and significant use of these wires in automotive and aviation industries.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the steel wire market by type
(carbon steel, alloy steel, and stainless steel), form (non-rope and rope), end
use industry (construction, automotive, energy, agriculture, industrial, and
others), and region (North America, Europe, Asia Pacific, and the Rest of the
World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will
grow at a faster pace and why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the
emerging trends in this market and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, carbon
steel, alloy steel, and stainless steel are the major segments of steel wire
market by type. Lucintel forecasts that carbon steel is expected to witness
highest growth over the forecast period due to its significant application in
various industrial applications such as wire loops, wire mesh, hardware, and
automobiles given to its features like durability and affordability. Within
this market, construction will remain the largest segment due to growing need
for steel wire in this industry for use in a variety of applications, such as
wire mesh and wire fencing, prestressed concrete, and reinforcement in concrete
buildings.
APAC is expected to
witness highest growth over the forecast period due to high demand for steel
wire in a variety of industries, such as construction, automotive, and
manufacturing sector of this region.
Arcelormittal, Nippon
Steel, JFE Steel, Bekaert, Tata Steel, Kobe Steel, and Ferrier Nord are the
major suppliers in the power electronic market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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