Press release
Elevator Ropes Market to Reach US$706 Million by 2027, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
Request a free sample report: https://www.stratviewresearch.com/Request-Sample/1076/elevator-ropes-market.html#form
Market Statistics
• Forecast value: US$706 million by 2027
• CAGR: 5.0% (2022-2027)
• Forecast period: 2022-2027
• Base year: 2021
• Total number of segments: 3
• Tables & figures: 100+
• Country-Level Market Assessment: 20
Market Segmentation
• By Application Type: Hoist, Compensating Rope, Governor, and Control (Door Closing Rope)
• By Core Type: Fiber Core and Independent Wire Rope Core
• By Region: North America, Europe, Asia-Pacific, and Rest of the World
Segment Analysis
In Application Type, the hoist segment dominates the market, as hoist ropes - attached to the elevator cabin and counterweights - are critical for lifting functions. The sustained demand for low- to medium-rise buildings in urbanizing regions is bolstering hoist rope adoption, signaling stable revenue streams for suppliers aligned with major elevator OEMs.
Within Core Type, fiber core ropes hold a larger share and are expected to grow faster because they offer greater flexibility and durability compared to independent wire rope core variants. This makes fiber core options attractive in cost- and performance-sensitive installations, indicating opportunities for manufacturers investing in advanced material solutions.
Regional Insights
Asia-Pacific is the dominant region in the elevator ropes market, driven by robust construction activity in developing economies such as China and India. Rapid urban expansion and infrastructure projects are increasing elevator installations, thereby elevating demand for associated ropes and presenting strategic growth opportunities for regional and global suppliers.
Market Drivers
• Rapid urbanization and infrastructure expansion, increasing vertical construction demand.
• Growth in residential and commercial building projects requiring elevators.
• Industrial and manufacturing facility expansions driving internal logistics needs.
• Technological advancements in rope materials enhancing performance and durability.
• Replacement and modernization cycles in aging elevator fleets encouraging aftermarket rope sales.
Top Companies in the Market
• Alps Wire Rope Corporation
• Bridon-Bekaert (The Ropes Group)
• BRUGG Lifting AG
• Gustav Wolf GmbH
• Jiangsu Safety Steel Wire Rope Co., Ltd.
• KISWIRE LTD.
• Loos & Co. Inc.
• PFEIFER DRAKO Drahtseilwerk GmbH
• Santini Funi Srl
• Usha Martin
FAQs
1. What is the projected value of the elevator ropes market by 2027?
The global elevator ropes market is projected to reach US$706 million by 2027, growing at a CAGR of 5.0% from 2022 to 2027.
2. Which application type leads the elevator ropes market?
The hoist segment leads the market due to its essential role in elevator lifting functions and sustained demand in vertical construction.
3. What core type is expected to grow fastest in the market?
Fiber core ropes are expected to witness the highest growth due to their flexibility and durability advantages over independent wire rope core.
4. Which region dominates the elevator ropes market?
Asia-Pacific is the dominant region for elevator ropes, supported by strong construction activity in countries like China and India.
5. Who are the major players in the elevator ropes market?
Key companies include Alps Wire Rope Corporation, BRUGG Lifting AG, Gustav Wolf GmbH, Usha Martin, and several other global rope manufacturers.
Related Links:
Flexographic printing machine market : https://www.wowonder.xyz/read-blog/359772
Flue gas desulfurization systems market : https://biiut.com/read-blog/21078
Fluorosilicic acid market : https://vintfint.com/blogs/128803/Fluorosilicic-Acid-Market-Forecast-Expanding-Applications-in-Chemicals-and-Agriculture
Fluorosurfactant market : https://network.musicdiffusion.com/read-blog/70058#google_vignette
Gasoline gensets market : https://www.ganjingworld.com/news/1i72j8bt9t19XQKOLgGQ3Znr310s1c/gasoline-gensets-market-outlook-rising-demand-for-portable-and-backup-power
Gelcoat market : https://scrapbox.io/researchnews04/Rising_Demand_for_Composites_Fueling_the_Global_Gelcoat_Market
Geocells market : https://hallbook.com.br/blogs/884243/Geocells-Market-Trends-Sustainable-Soil-Stabilization-Solutions-Gain-Traction
Glass ceramics market : https://velog.io/@ellam66/Rising-Demand-for-Glass-Ceramics-Transforming-Modern-Industrial-Applications
Glucaric acid market: https://ivebo.co.uk/read-blog/210865
Glycol ethers market : https://www.wowonder.xyz/read-blog/352366
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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.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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