Steel Wire Ropes Market 2025: FY Q2 2025 Trends and Investment Outlook

The Global Steel Wire Rope Market size was worth USD 9.614 billion in 2024 and is estimated to reach USD 10.1 billion by 2031, growing at a CAGR of 5.3% during the forecast period (2024-2031).

DataM Intelligence has published a new research report on "Steel Wire Ropes Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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Mergers & Acquisitions:-

The steel wire rope market remains fragmented and competitive, with key players such as Kiswire, Bridon-Bekaert The Ropes Group, and WireCo World Group leading. Some M&A activity focuses on expanding geographic footprints and product lines, especially in Asia and Europe.​

Consolidation is ongoing with strategic acquisitions aiming to enhance capabilities in high-performance steel wire ropes used for mining, marine, and construction sectors, but no major headline deals from late 2025 have emerged publicly.

Product Launch-

✅ In September 2025, manufacturers launched modular and customized steel wire ropes for specialized industrial lifting and hoisting applications, driven by growing infrastructure and energy sector demands.

✅ In June 2025, several companies introduced high-strength, corrosion-resistant steel wire ropes designed for offshore oil & gas, heavy construction, and renewable energy projects, enhancing durability and operational safety.

✅ In March 2025, Marlow Ropes Ltd. launched the world's first sustainably manufactured fast rope incorporating recycled materials, marking a significant step toward sustainability in wire rope manufacturing.

Key Players:-

Bekaert S.A., Cortland Limited, Samson Rope Technologies, Southern Ropes, Marlow Ropes, Teufelberger, WireCo World Group, Gustav Wolf GmbH, Lanex A.S., and Jiangsu Langshan Wire Rope Co., Ltd.

Growth Forecast Projected:

The Global Steel Wire Ropes Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Steel Wire Ropes Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Investments:-

The market is seeing steady investments driven by increasing demand from construction, mining, oil & gas, and marine sectors globally, especially in emerging economies in Asia-Pacific.​

Investments focus on upgrading manufacturing capabilities, enhancing product durability through technology, and meeting regulatory safety standards.​

The demand for sustainable manufacturing practices is attracting funding for research in high-end materials like stainless or alloy steel to improve performance under harsh environmental conditions

Key Segments:

By Material- Carbon Steel, Stainless Steel, Alloy Steel
By Lay Type- Regular Lay, Lang Lay
By End-User- Marine, Sports, and Leisure, Oil and Gas, Industrial, Mining, Construction, Others

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Steel Wire Ropes producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Steel Wire Ropes revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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Latest News & Market Trends:-

The global steel wire rope market size was valued at around USD 8.64 billion in 2024, estimated to reach approximately USD 10.61 billion by 2032 with a CAGR of about 3.1%. Other sources estimate the combined steel and plastic rope market to be around USD 15 billion in 2025, growing robustly.​

Increasing infrastructure projects worldwide, particularly in construction, mining, maritime, and offshore oil & gas, are driving steady demand for steel wire ropes.​

China leads as the largest consumer, accounting for roughly 34% global demand, followed by Europe (24%) and North America (17%).​

Challenges include fluctuating raw material prices, supply chain disruptions, and increased competition from synthetic rope alternatives.​

Safety, durability, and sustainability are key drivers of new product development, addressing higher operational standards and environmental concerns in critical industries.

FAQ's

Q1: What is the current size of the Steel Wire Ropes Market?

A: The Steel Wire Ropes Market stood at USD 9.614 billion in 2024 and is set to experience remarkable growth, reaching USD 10.1 billion by 2031

Q2: How fast is the Steel Wire Ropes Market growing?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 5.3% from 2024 to 2031

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