Structure Ropes Market is Forecasted to Reach US$ 442.6 Million in 2028, Says Stratview Research

The global Structure Ropes Market is projected to witness a growth rate of 2.7% annually from 2023 to 2028, with an anticipated size of US$ 442.6 million in 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Structure Ropes Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 442.6 million
Growth (CAGR): 2.7% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Structure Ropes Market :
The global Structure Ropes Market is segmented application type, material type, end-user type and region

Based on Application Type: The market is segmented into bridges, roof structures, stayed masts and towers, and specialized structural projects. Bridge applications are expected to generate the maximum demand for structure ropes during the forecast period. Wire rope is a preferred lifting device for bridges, especially in the case of suspension bridges as the structure of the rope provides strength, flexibility, and the ability to handle bending stresses.

Based on material type: The market is segmented into steel ropes and synthetic ropes. Steel ropes dominated the market in 2022 and are likely to grow at a healthy rate during the forecast period. They are stiffer and can withstand greater stress as compared to their synthetic counterparts, which has led to their widespread usage in the industry. Synthetic rope has gained some popularity in structure applications in recent years, but it is expected to hold a minor share of the market during the forecast period.

To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis North America is expected to remain the largest market for structure ropes during the forecast period. This growth outlook is majorly attributed to the following-
• The USA leads the North American structure ropes market, owing to its massive infrastructure spending on both new construction and repair. Europe holds the second-leading position in the market and is expected to maintain its position over the forecast period.
• Owing to rapid urbanization, expanding 5G infrastructure, and increasing investments in basic infrastructure requirements such as bridges and stadiums, Asia-Pacific is expected to witness the highest growth in the coming years.

Structure Ropes Market Drivers:
The Structure Ropes Market is driven by several key factors, including:
• Increasing investments in infrastructure projects (bridges and telecommunications), especially in emerging economies, rapid urbanization, the growing sports industry, and other factors are all contributing to the growth of the structure ropes market.
• The expected recovery in the economy combined with substantial investments in infrastructure, is expected to unlock a multitude of opportunities for structure ropes.
• Moreover, the expanding adoption of 5G networks and the rapidly growing sports industry are anticipated to drive the market's growth.

Top 10 Companies in the Structure Ropes Market:
Stratview Research has identified the following companies as the top market players:
• ArcelorMittal S.A.
• Bharat Wire Ropes Ltd.
• Bridon-Bekaert the Ropes Group
• Fasten Group
• Fatzer AG
• Guizhao Wire Rope Incorporated
• Kiswire Group
• Teufelberger-Redaelli
• Usha Martin Ltd
• WireCo WorldGroup

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Structure Ropes Market , answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Synthetic Rope Market: https://www.stratviewresearch.com/153/synthetic-rope-market.html
• Elevator Ropes Market: https://www.stratviewresearch.com/1076/elevator-ropes-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.