Dublin, April 24, 2025 (GLOBE NEWSWIRE) -- The "Steel Wire - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Steel Wire was valued at US$123.5 Billion in 2024 and is projected to reach US$186.0 Billion by 2030, growing at a CAGR of 7.1% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The report includes the most recent global tariff developments and how they impact the Steel Wire market.
Global Steel Wire Market - Key Trends and Drivers Summarized
As urbanization continues to accelerate, especially in emerging economies, there is a substantial increase in demand for building infrastructure and residential projects. Steel wire plays a crucial role in these developments, particularly in the reinforcement of concrete and in pre-stressed concrete to improve tensile strength. This is pivotal not only for new constructions but also for infrastructure refurbishments, which are prevalent in mature markets to ensure safety and longevity of existing structures. The durability and cost-effectiveness of steel wire make it a preferred choice in large-scale construction projects, driving its market growth.
In the automotive industry, steel wire is indispensable for manufacturing a wide range of components such as springs, fasteners, and cables. The ongoing trend towards lighter, more fuel-efficient vehicles is prompting manufacturers to seek materials that provide essential strength without adding significant weight. High-strength steel wires are increasingly favored for their ability to reduce vehicle weight while maintaining performance and safety standards.
Additionally, with the advent of electric vehicles (EVs), there is a new set of challenges and opportunities for steel wire in electrical grounding systems and battery harnesses, further influencing its demand. Moreover, the steel wire market is also influenced by trends in the manufacturing and utility sectors. For steel wire rope and cables, there is a growing demand in industries such as telecommunications for cable support systems, and in utilities for power transmission lines. The robustness and conductivity of steel wire make it suitable for these applications.
Advances in steelmaking technology that enhance the quality and reduce the environmental impact of steel wire production are set to boost its appeal further. Innovations in alloy composition and improved manufacturing processes are expanding the applications of steel wire, ensuring its relevance and utility across various industries.
Report Scope
The report analyzes the Steel Wire market, presented in terms of units. The analysis covers the key segments and geographic regions outlined below.
Segments:
- Product Segment (Carbon Steel, Stainless Steel, Alloy Steel)
- Application (Construction, Automotive, Energy, Industrial, Agriculture, Other Applications)
Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Carbon Steel segment, which is expected to reach US$137.6 Billion by 2030 with a CAGR of a 6.9%. The Stainless Steel segment is also set to grow at 6.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $31.8 Billion in 2024, and China, forecasted to grow at an impressive 10.7% CAGR to reach $45.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Steel Wire Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Ansteel Group Corporation Limited, ArcelorMittal S.A, Bridon International Ltd., China Baowu Steel Group Corporation Limited, Davis Wire Corporation and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 182 companies featured in this Steel Wire market report include:
- Ansteel Group Corporation Limited
- ArcelorMittal S.A
- Bridon International Ltd.
- China Baowu Steel Group Corporation Limited
- Davis Wire Corporation
- Gerdau S.A.
- HBIS Group
- Heico Wire Group
- Insteel Industries, Inc.
- JFE Steel Corporation
- Jiangsu Shagang Group
- Kobe Steel, Ltd.
- Leggett & Platt Inc.
- National Standard
- Nippon Steel & Sumitomo Metal Corporation
- NV Bekaert SA
- POSCO
- Shougang Corporation
- Tata Steel Group
- thyssenkrupp Steel Europe AG
- Tree Island Industries Ltd.
- Usha Martin Limited
Tariff Impact Analysis: Key Insights for 2025
Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.
The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
What's Included in This Edition:
- Tariff-adjusted market forecasts by region and segment
- Analysis of cost and supply chain implications by sourcing and trade exposure
- Strategic insights into geographic shifts
Buyers receive a free July 2025 update with:
- Finalized tariff impacts and new trade agreement effects
- Updated projections reflecting global sourcing and cost shifts
- Expanded country-specific coverage across the industry
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 263 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $123.5 Billion |
| Forecasted Market Value (USD) by 2030 | $186 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Tariff Impact on Global Supply Chain Patterns
- Global Economic Update
- Steel Wire - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Demand for Steel Wire in Construction and Infrastructure
- Growth of the Automotive and Transportation Industry
- Advancements in Steel Wire Manufacturing Technologies
- Rising Adoption of High-Strength and Corrosion-Resistant Steel Wire
- Expansion of Steel Wire Applications in Renewable Energy
- Development of Specialty and High-Performance Steel Wire Products
- Role of Steel Wire in Enhancing Structural Integrity and Safety
- Growth of Steel Wire Recycling and Circular Economy Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/usxdxs
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