Wilmington, Delaware, Sept. 30, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Wire-Rope Market by Material (Stainless Steel, Galvanized Steel and Coated Wire Rope), and Application (Industrial & Crane, Oil & Gas, Mining, Fishing & Marine, Construction, Telecommunications and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032”. According to the report, the wire-rope market was valued at $9.1 billion in 2023, and is estimated to reach $14.4 billion by 2032, growing at a CAGR of 5.3% from 2024 to 2032. 

Prime Determination of Growth  

In addition, the expansion of telecommunication networks worldwide necessitates robust infrastructure, further driving the market growth. Moreover, the surge in construction projects across the globe, fueled by urbanization and infrastructure development initiatives, contributes significantly to the escalating demand for wire ropes in various applications within the construction sector.  

Download Sample Copy @ https://www.alliedmarketresearch.com/request-sample/A47411 

Report coverage & details:  

 
The galvanized steel segment to maintain its leadership status throughout the forecast period.  

Based on material, the construction segment held the highest market share in 2023, accounting for nearly one-third of the global Wire-Rope market revenue and is estimated to maintain its leadership status throughout the forecast period, due to the incessant demand for infrastructure development worldwide. Wire-Rope plays a crucial role in various construction activities, including building construction, road and bridge development, and utility installations. As urbanization accelerates and governments invest in large-scale infrastructure projects, the construction sector continues to drive significant demand for Wire-Rope solutions, bolstering its market dominance.  

Buy This Research Report ( 250 Pages PDF with Insights, Charts, Tables, Figures): 
https://bit.ly/3ztUDnJ 

The construction sector to maintain its leadership status throughout the forecast period.  

Based on the application, the construction sector held the highest market share in 2023, accounting for more than two-fifths of the Wire-Rope market revenue due to the extensive use of wire ropes in lifting, hoisting, and supporting structures like cranes. These essential applications drive consistent demand, making construction the primary driver of wire rope sales.  

Asia-Pacific to maintain its dominance by 2032.  

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than two-fifth of the global Wire-Rope market revenue owing to rapid industrialization, urbanization, and infrastructure development initiatives. The Asia-Pacific wire rope market is growing rapidly which is driven by rapid industrialization, infrastructure development, and increasing investments in construction and mining sectors. Countries like China, India, Japan, and South Korea are key contributors to market expansion. The region’s burgeoning construction industry, fueled by urbanization and government-led infrastructure projects, drives significant demand for wire ropes in lifting, hoisting, and suspension applications.   

Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/A47411 

 Leading Market Players: -  

• WireCo WorldGroup Inc.  

• Bridon-Bekaert The Ropes Group  

• Tokyo Rope International  

• Wire Rope Corporation of America Inc.  

• Teufelberger Holding AG  

• Pfeifer Drako Drahtseilwerk GmbH  

The report provides a detailed analysis of these key players of the global Wire-Rope market. These players have adopted different strategies such as product launch, acquisition, agreement and partnership and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Trending Reports in Wire industry:     

Wire Pulling And Tensioning Market : Global Opportunity Analysis and Industry Forecast, 2024-2032 

Copper Magnetic Wire Market : Global Opportunity Analysis and Industry Forecast, 2022-2031 

Cable Drum Market : Global Opportunity Analysis and Industry Forecast, 2019-2026 

Underground Cable Accessories Market : Global Opportunity Analysis and Industry Forecast, 2024-2032 

Construction Machinery Attachment Market : Global Opportunity Analysis and Industry Forecast, 2022-2031 

 
About Us:    

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” Allied Market Research has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.    

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.    

Contact us:    

United States    

1209 Orange Street,    

Corporation Trust Center,    

Wilmington, New Castle,    

Delaware 19801 USA.    

Int’l: +1-503-894-6022    

Toll Free: +1-800-792-5285    

Fax: +1-800-792-5285    

help@alliedmarketresearch.com