The Market Reports

Synopsis
The global market for Steel Wire Rope was estimated to be worth US$ 8031 million in 2024 and is forecast to a readjusted size of US$ 9126 million by 2031 with a CAGR of 2.2% during the forecast period 2025-2031.
Steel wire rope is a piece of machinery which is widely used in construction, mining, oil & gas extraction and other areas. Usually, a steel wire rope is composed of wires, strands and a core, which is made of fiber or steel. The purpose of the core is to provide support and maintain the position of the outer strands during operation. The wires are predominantly constructed from high-carbon steel and stainless steel. The wires are twisted to form strands and they designate the strength of the steel wire rope.
The global steel wire rope market is expected to grow in the next few years. This growth is the result of the interweaving of multiple factors such as technological iteration, regional demand differentiation, raw material price fluctuations and exchange rate risks. From the perspective of product type, cross-twist steel wire rope occupies an absolute dominant position, and it is expected that the sales share will reach 76.63% in 2031. Its technical advantages lie in high fatigue resistance and stability, and it is widely used in high-intensity scenarios such as lifting and mining. With the improvement of industrial automation and safety standards, the market demand for high-performance steel wire ropes continues to grow, forcing companies to increase R&D investment. For example, core manufacturers such as Bridon-Bekaert and Kiswire have improved product durability by optimizing twisting processes and coating technologies, consolidating their share in the high-end market.
At the regional level, the global consumer market presents a "one super and many strong" pattern: China ranks first with a sales share of 38.06%, mainly benefiting from infrastructure expansion and manufacturing upgrades. In contrast, India has become a growth pole with a CAGR of 5.18% (2025-2031), driven by the accelerated industrialization process and the cost advantages of the local supply chain. As traditional markets (accounting for 42.98% in total), Europe and North America have saturated demand, and growth depends on the renewal of stock equipment and green energy projects (such as offshore wind power).
From the production side, China dominates the global supply with a production share of 69.56%, followed by Europe (10.06%). The scale effect and low-cost raw materials (such as domestic steel overcapacity) of Chinese companies form core competitiveness, but the rising environmental protection costs under the "dual carbon" policy may compress profit margins. In the future, India, Southeast Asia and other places are expected to have a production share of 7.37% in 2031 by relying on labor cost advantages and policy support, diverting some low-end and mid-end orders. In addition, raw material price fluctuations have become a key risk. The main raw material for steel wire rope is high-carbon steel, and its price is significantly affected by iron ore, energy costs and geopolitics (such as the conflict between Russia and Ukraine). In 2023, the global steel price volatility will be as high as 15%, forcing manufacturers to lock in costs through long-term agreements or turn to regional procurement strategies.
At the application level, lifting equipment accounts for 44.15% of the market share, and its growth (CAGR 2.86%) is directly related to global port expansion and new energy infrastructure.
From the perspective of the competitive landscape, in 2024, the world's first-tier manufacturers mainly include Kiswire, Bridon-Bekaert and WireCo World Group, and the first-tier manufacturers account for about 18.12% of the market share; the second-tier manufacturers include Usha Martin, Jiangsu Langshan wire rope, Teufelberger and Guizhou Steel rope Group, etc., with a total share of 22.52%. The leading manufacturers in the Chinese market include Jiangsu Langshan Wire Rope, Guizhou Wire Rope, Jiangsu Juli Wire Rope, SAFETY, Xianyang BOMCO and JULI SLING. At present, in the Chinese market, international manufacturers led by Brugg and Bridon-Bekaert have laid out their presence in China early and built factories. With their strong R&D capabilities, they have occupied a part of the mid-to-high-end market. Other international manufacturers such as Teufelberger and WireCo World have not built factories in China, but sell imported products in China by setting up sales branches or agents. However, in the high-end market, Chinese manufacturers are conquering related technologies. China's steel wire rope imports have declined year by year since 2021. Chinese manufacturers are also gradually replacing foreign manufacturers in the mid-to-high-end market. The import volume in 2024 is about 46,000 tons. Unlike the Chinese market, in other countries such as South Korea, Japan, and India, leading companies occupy a large market share. For example, in the Korean market, Kiswire occupies about 50% of the market share; in the Japanese market, Tokyo Rope occupies about 40% of the market share; in the Indian market, Usha Martin occupies about 60% of the market share. It is worth noting that the Japanese market is significantly affected by exchange rate fluctuations, with a revenue CAGR of -3.07% from 2020 to 2024.
The growth logic of the future steel wire rope market has shifted from "scale expansion" to "value enhancement". Technological innovation capabilities, regional supply chain resilience and ESG compliance will become the core variables for corporate differentiation. Under multiple challenges, manufacturers with technological foresight, global layout and risk management capabilities will lead a new round of industry reshuffles, while companies that rely on low-cost expansion may face severe survival pressure.
This report aims to provide a comprehensive presentation of the global market for Steel Wire Rope, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Steel Wire Rope by region & country, by Type, and by Application.
The Steel Wire Rope market size, estimations, and forecasts are provided in terms of sales volume (K Tons) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Steel Wire Rope.
Market Segmentation
By Company
Kiswire
Bridon-Bekaert
WireCo World Group
Usha Martin
Jiangsu langshan Wrie Rope
Teufelberger
Guizhou steel rope
DSR Wire
Tokyo Rope
Brugg
Jiangsu Juli wire Rope
Xianyang BOMCO Steel Tube＆Wirerope
Kobelco Wire
SAFETY
JULI SLING
Golik Holdings
Gustav Wolf
Jiangsu Shenwang group
Zhongying steel rope
Valin Precision
Hubei Fuxing Technology
Segment by Type
Right Regular Lay
Right Lang Lay
Left Regular Lay
Left Lang Lay
Segment by Application
Industrial & Crane
Oil & Gas
Mining
Fishing & Marine
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Steel Wire Rope manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Steel Wire Rope in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Steel Wire Rope in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

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