Elevator Ropes Market Size was valued at over USD 600 million in 2021, is estimated to exhibit growth with over 3.5% CAGR from 2022 to 2027.
Elevator Ropes Market size was valued at over USD 600 million in 2021 and is estimated to exhibit growth with over 3.5% CAGR from 2022 to 2027. Government initiatives favoring infrastructural growth are expected to drive building & construction activities in near term, which will elevator ropes demand in forthcoming years.
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. This report studies the Elevator Wire Rope market. The United State elevator wire rope industry is highly concentrated with only a few players at present.
Growing population and urbanization in emerging countries around the globe has created ample opportunities for the elevator suppliers recently. Rising construction spending in the developing nations, particularly in Asia, in order to provide better infrastructure & residence will result in progressive growth in sales of elevator till 2027. Such movements will subsequently be enhancing growth of the elevator ropes sales in future.
Top Key players in the Elevator Wire Rope Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Elevator Wire Rope Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Brugg, Gustav Wolf GmbH, Pfeifer DRAKO, Usha Martin, Alps Wire Rope Corporation, Bharat Wire Ropes, Wirerope Works, Wire Rope Works Messilot, Santini funi srl, Mak Kee, TOHO-RONGKEE NANTONG WIRE ROPE, Tokyo Rope, TIANJIN METALLURGY GROUP, Jiangsu Safety Steel Wire Rope, Tianjin Goldsun Wire Rope, China Fengxiang Hardware Limited and others.
CMP TAKES OVER GUSTAV WOLF GROUP
CMP Capital Management-Partners (CMP) is entering the high-growth market of rope and wire products for the elevator and crane industry: The GOF III fund managed by CMP is acquiring 100 percent of the shares in the German Gustav Wolf GmbH, a leading supplier in this segment. With approximately 500 employees at its European plants in Germany, Hungary, and Poland as well as its sites in Suzhou in China, and Rome, Georgia in the US, the group generates an annual turnover of more than 80 million euros.
Elevator Wire Rope Market is segmented based on the type, applications, companies and regions.
Elevator Wire Rope Market has been segmented into By Type
Elevator Wire Rope Market has been segmented into By Applications
The report offers in-depth assessment of the growth and other aspects of the Elevator Wire Rope Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Leading manufacturers are mainly from Europe. Leading players in United State elevator wire rope are Gustav Wolf, Bekaert, Wirerope Works, Pfeifer Drako and Kiswire. Gustav Wolf is the largest manufacturer in USA, with the market share of 48%.
Report Attributes
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Report Details |
Forecast Period 2022 to 2027 CAGR |
CAGR of 3.5% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies
| Brugg, Gustav Wolf GmbH, Pfeifer DRAKO, Usha Martin, Alps Wire Rope Corporation, Bharat Wire Ropes, Wirerope Works, Wire Rope Works Messilot, Santini funi srl, Mak Kee, TOHO-RONGKEE NANTONG WIRE ROPE, Tokyo Rope, TIANJIN METALLURGY GROUP, Jiangsu Safety Steel Wire Rope, Tianjin Goldsun Wire Rope, China Fengxiang Hardware Limited |
Regions Covered
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Countries Covered |
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Base Year
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2022 |
Historical Year
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2017 to 2022 |
Forecast Year
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2022 to 2027 |
Customization Available
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Yes, the report can be customized as per your needs |
The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Technological Innovations, and Role of Manufacturers during COVID19 Pandemic. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
What is the study period of this market?
The Elevator Wire Rope Market is studied from 2017 - 2027.
What is the growth rate of Elevator Wire Rope Market?
The Elevator Wire Rope Market is growing at a CAGR of 3.5% over the next 5 years.
Who are the key players in Elevator Wire Rope Market?
Brugg, Gustav Wolf GmbH, Pfeifer DRAKO, Usha Martin, Alps Wire Rope Corporation, Bharat Wire Ropes, Wirerope Works, Wire Rope Works Messilot, Santini funi srl, Mak Kee, TOHO-RONGKEE NANTONG WIRE ROPE, Tokyo Rope, TIANJIN METALLURGY GROUP, Jiangsu Safety Steel Wire Rope, Tianjin Goldsun Wire Rope, China Fengxiang Hardware Limited
What region does this Elevator Wire Rope Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Elevator Wire Rope Market?
Hoist ropes, Governor ropes, Compensating ropes
What are the major end-use applications of Elevator Wire Rope Market?
Traction elevators, Hydraulic elevators, Machine Room Less (MRL)
Application_List
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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