Report Description
A recent market intelligence report that is published by Data Insights Partner on the global Steel Wiring Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Steel Wiring Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Steel Wiring Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Steel Wiring Market is offered. In accordance with the report, the global Steel Wiring Market is projected to expand by healthy CAGR of 2.4% over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
Steel Wires are one type of wires with a coating on top. The coating can be of carbon steel, stainless steel, alloy steel or something else. These wires are mainly known for its superior durability, flexibility, high heat, wear and shock resistance, tensile strength, lightweight and low malleability. These wires have a wide range of application in various places like automotive industries, construction sectors, energy sectors etc.
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Market Drivers
The rise in demand for Steel Wiring in the expanding construction sectors is one of the main drivers of the market growth for Steel Wiring Market in the past few years. The increase in number of schools, hospitals, offices and residential buildings is also pushing the Steel Wiring Market specially the Stainless Steel and Carbon Steel growth rate high. The increasing automotive and energy sectors are also some of the major factors responsible for these rapid growth in Steel Wiring Market. The rising concerns over better and expensive lifestyles among the young generation is also playing a key role behind the said market growth.
Beside this, the rapid urbanization, growing population and rising per capita income are also some of the key players behind the rapid growth of the Steel Wiring Market.
Aside from these, the rising foreign investments in the Steel Wiring sector are also adding fuel to this increasing market growth.
The regular introduction of different and brand-new types of Steel Wiring with better tensile strength and high shock and heat resistance to satisfy the varying tastes of the customers is also attracting new consumers and thus helping the growth rate of Steel Wiring Market to rise high. The convenience and efficiency of Steel Wiring is also helping in the expansion of the said market.
Market Restraints
The Steel Wiring Market has a huge potential. Though it is expanding very fast day by day, many things are preventing it from using its full potential. Some of these restraints are–
? High prices of the raw materials.
? High transportation and import cost, high tariff.
? High cost of R&D activities.
? High cost of the premium quality end products.
? Emission of harmful chemicals and pollutants during production.
? Availability of substitutes such as plastic-coated wires in low cost.
? Unavailability of these products in many regions.
? Lack of awareness about the availability and benefits of the Steel Wiring in the rural areas of the developing countries.
Opportunities
The Steel Wiring Market growth is mainly based on the consumption of these products for commercial and non-residential usage. The products must provide security to a certain degree, should be durable, efficient and must satisfy the preferences of the consumers and it must be budget-friendly. The Steel Wiring Market will have the opportunity in construction sectors followed by automotive and energy sectors.
Trends
During the forecast period, North America followed by Asia Pacific and Europe are expected to have the largest share of Steel Wiring Market. The demand for these products in the North American region is driven by its growing construction sector and population and rising disposable income among individuals. Rising concerns over the quality and secure structures of home, offices and other non-residential buildings and places specially in USA, Canada etc. are also driving the growth. It is also believed that on the basis of grade, the carbon steel wiring segments will have the largest share for its high tensile strength, superior shock resistance, lightweight, high demand in construction sectors and efficiency and convenience. The Stainless-Steel Wiring Markets are also expected to rise significantly in the said time for its rising demand in automotive, aerospace and surgical tools and equipment sectors.
Segment Covered:
This market intelligence report on the global Steel Wiring Market encompasses market segments based on grade, product type, application, end usage, distributional channel and country.
By Grade the global Steel Wiring Market has been divided into:
q Carbon Steel
q Stainless Steel
q Alloy Steel
q Flat Steel
By Product Type the global Steel Wiring Market has been divided into:
q Steel Wire Ropes
q Steel Wire Rods
q Steel Wire Wools
q Spring Steel Wire
q Mild Steel Wire
q Others
By Application the global Steel Wiring Market has been divided into:
q Construction and Building
q Automotive
q Energy
q Agriculture
q Others
By End Usage the global Steel Wiring Market has been divided into:
q Personal
q Commercial
By Distributional Channel the global Steel Wiring Market has been divided into:
q Supermarkets and Hypermarkets
q Online
q Others
By country/region, the global Steel Wiring Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Bridon International Ltd.
q Gerdau S.A.
q Ansteel Group Corporation Limited
q Bridon International Ltd.
q Davis Wire Corporation
q ArcelorMittal S.A
q Heico Wire Group
q HBIS Group
q China Baowu Steel Group Corporation Limited
q National Standard
q JFE Steel Corporation
q Jiangsu Shagang Group
q POSCO
q Usha Martin Limited
q Nippon Steel & Sumitomo Metal Corporation
q Insteel Industries, Inc.
q Kobe Steel, Ltd.
q Leggett & Platt Incorporated
q Tata Steel Group
q NV Bekaert SA
q Shougang Corporation
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Steel Wiring Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Ansteel Group Corporation Limited
Ansteel Group, originated from merger and reorganization of the first large-sized steel maker of China Anshan Iron and Steel Group Corporation and Pangang Group Co. Ltd. The group was made in 2010 and now their products are sold in over 50 countries and regions across the whole world, 26 overseas companies and organizations and is making a minimum of 5 Billion Dollars of import and export per year. The group has been giving high importance and priority to its customers, shareholders, employees and focusing on the improvement of their products while running the business legally and setting examples in environment conservation by minimalizing the pollution to make their company the largest in the world.
Kobe Steel, Ltd.
Kobe Steel Ltd., the Japanese steel production company founded in 1905 started producing steel products from the year 1916. Since the beginning, this company has primarily been focusing on manufacturing steel products for automobiles. Kobe Steel is known worldwide for the superior shock and wear resistance, durability, high technical strength of their steel wires particularly for spring wires and rods used for automobile engines and suspension systems as well as CHQ wire rods used for nuts, bolts etc.
Salient Features:
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Ø This study offers comprehensive yet detailed analysis of the Steel Wiring Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Steel Wiring Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of different type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Steel Wiring caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Steel Wiring Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Steel Wiring Market
v Identification of key factors driving investment opportunities in the Steel Wiring Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participant
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