The global Steel Rope market size is predicted to grow from US$ 7849 million in 2025 to US$ 8970 million in 2031; it is expected to grow at a CAGR of 2.3% from 2025 to 2031.

The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.

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.

From the perspective of product type, cross-twist steel wire rope occupies an absolute dominant position, and it is expected that the sales share will reach 76.63% in 2031. Its technical advantages lie in high fatigue resistance and stability, and it is widely used in high-intensity scenarios such as lifting and mining. With the improvement of industrial automation and safety standards, the market demand for high-performance steel wire ropes continues to grow, forcing companies to increase R&D investment. For example, core manufacturers such as Bridon-Bekaert and Kiswire have improved product durability by optimizing twisting processes and coating technologies, consolidating their share in the high-end market.At the regional level, the global consumer market presents a one super and many strong pattern: China ranks first with a sales share of 38.06%, mainly benefiting from infrastructure expansion and manufacturing upgrades. In contrast, India has become a growth pole with a CAGR of 5.18% (2025-2031), driven by the accelerated industrialization process and the cost advantages of the local supply chain. As traditional markets (accounting for 42.98% in total), Europe and North America have saturated demand, and growth depends on the renewal of stock equipment and green energy projects (such as offshore wind power).From the production side, China dominates the global supply with a production share of 69.56%, followed by Europe (10.06%). The scale effect and low-cost raw materials (such as domestic steel overcapacity) of Chinese companies form core competitiveness, but the rising environmental protection costs under the dual carbon policy may compress profit margins. In the future, India, Southeast Asia and other places are expected to have a production share of 7.37% in 2031 by relying on labor cost advantages and policy support, diverting some low-end and mid-end orders. In addition, raw material price fluctuations have become a key risk. The main raw material for steel wire rope is high-carbon steel, and its price is significantly affected by iron ore, energy costs and geopolitics (such as the conflict between Russia and Ukraine). In 2023, the global steel price volatility will be as high as 15%, forcing manufacturers to lock in costs through long-term agreements or turn to regional procurement strategies.At the application level, lifting equipment accounts for 44.15% of the market share, and its growth (CAGR 2.86%) is directly related to global port expansion and new energy infrastructure.From the perspective of the competitive landscape, in 2024, the worlds first-tier manufacturers mainly include Kiswire, Bridon-Bekaert and WireCo World Group, and the first-tier manufacturers account for about 18.12% of the market share; the second-tier manufacturers include Usha Martin, Jiangsu Langshan wire rope, Teufelberger and Guizhou Steel rope Group, etc., with a total share of 22.52%. The leading manufacturers in the Chinese market include Jiangsu Langshan Wire Rope, Guizhou Wire Rope, Jiangsu Juli Wire Rope, SAFETY, Xianyang BOMCO and JULI SLING. At present, in the Chinese market, international manufacturers led by Brugg and Bridon-Bekaert have laid out their presence in China early and built factories. With their strong R&D capabilities, they have occupied a part of the mid-to-high-end market. Other international manufacturers such as Teufelberger and WireCo World have not built factories in China, but sell imported products in China by setting up sales branches or agents. However, in the high-end market, Chinese manufacturers are conquering related technologies. Chinas steel wire rope imports have declined year by year since 2021. Chinese manufacturers are also gradually replacing foreign manufacturers in the mid-to-high-end market. The import volume in 2024 is about 46,000 tons. Unlike the Chinese market, in other countries such as South Korea, Japan, and India, leading companies occupy a large market share. For example, in the Korean market, Kiswire occupies about 50% of the market share; in the Japanese market, Tokyo Rope occupies about 40% of the market share; in the Indian market, Usha Martin occupies about 60% of the market share. It is worth noting that the Japanese market is significantly affected by exchange rate fluctuations, with a revenue CAGR of -3.07% from 2020 to 2024.The growth logic of the future steel wire rope market has shifted from scale expansion to value enhancement. Technological innovation capabilities, regional supply chain resilience and ESG compliance will become the core variables for corporate differentiation. Under multiple challenges, manufacturers with technological foresight, global layout and risk management capabilities will lead a new round of industry reshuffles, while companies that rely on low-cost expansion may face severe survival pressure.

Infinity Market Research newest research report, the Steel Rope Industry Forecast looks at past sales and reviews total world Steel Rope sales in 2024, providing a comprehensive analysis by region and market sector of projected Steel Rope sales for 2025 through 2031. With Steel Rope sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Steel Rope industry.

This Insight Report provides a comprehensive analysis of the global Steel Rope landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Steel Rope portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms unique position in an accelerating global Steel Rope market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Steel Rope and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Steel Rope.

This report presents a comprehensive overview, market shares, and growth opportunities of Steel Rope market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:

    Right Regular Lay
    Right Lang Lay
    Left Regular Lay
    Left Lang Lay

Segmentation by Application:

    Industrial & Crane
    Oil & Gas
    Mining
    Fishing & Marine
    Others

This report also splits the market by region:

    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the companys coverage, product portfolio, its market penetration.

    Kiswire
    Bridon-Bekaert
    WireCo World Group
    Usha Martin
    Jiangsu langshan Wrie Rope
    Teufelberger
    Guizhou steel rope
    DSR Wire
    Tokyo Rope
    Brugg
    Jiangsu Juli wire Rope
    Xianyang BOMCO Steel Tube?Wirerope
    Kobelco Wire
    SAFETY
    JULI SLING
    Golik Holdings
    Gustav Wolf
    Jiangsu Shenwang group
    Zhongying steel rope
    Valin Precision
    Hubei Fuxing Technology

Key Questions Addressed in this Report

What is the 10-year outlook for the global Steel Rope market?
What factors are driving Steel Rope market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Steel Rope market opportunities vary by end market size?
How does Steel Rope break out by Type, by Application?