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    Structure Ropes Market Growth Analysis

    Structure Ropes Market Growth Analysis
    Report code - SR2014 Published On : Jun,2023 No. of Pages: 130
    Structure Ropes Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Oppo See more...

    Market Insights

    The Structure Ropes Market is likely to grow at a significant CAGR of 2.7%, in the long run, to reach US$ 442.6 Million in 2028.  

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    What are Structure Ropes?

    Structure ropes are mainly used to support the structure and evenly distribute the loads. Wire ropes are widely used in cable bridges, stadium roofs, and specialized structures such as telecommunication masts, and amusement park ferry wheels. Ropes used in structural applications usually have a lifespan of 20-100 years, depending on the application. 

    Market Dynamics

    Increasing investments in infrastructure projects (bridges and telecommunications), especially in emerging economies, rapid urbanization, the growing sports industry, and other factors are all contributing to the growth of the structure ropes market. The expected recovery in the economy combined with substantial investments in infrastructure, is expected to unlock a multitude of opportunities for structure ropes. Moreover, the expanding adoption of 5G networks and the rapidly growing sports industry are anticipated to drive the market's growth.

    Covid-19 Impact

    The COVID-19 pandemic resulted in a significant downturn in the construction industry, leading to reduced investments and activities. Consequently, the structure ropes market was expected to experience a slower growth rate than anticipated in the foreseeable future. However, as the impact of the pandemic lessened in 2021, the market demand for structure ropes started to recover and eventually reached its pre-COVID levels in the first half of 2022.

    Segments Analysis


    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Application-Type Analysis

    Bridges, Roof Structures, Stayed Masts and Towers, and Specialized Structural Projects

    Bridges are anticipated to remain the key demand generator in the years to come.

    Material-Type Analysis

    Steel Rope and Synthetic Rope

    Steel Rope is estimated to remain the dominant material type in the years to come.

    End-User-Type Analysis

    OE and Aftermarket

    OE is anticipated to remain the larger segment in the years to come.

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.

    By Application Type

    The structure ropes market is segmented into bridges, roof structures, stayed masts and towers, and specialized structural projects. Bridge applications are expected to generate the maximum demand for structure ropes during the forecast period. Wire rope is a preferred lifting device for bridges, especially in the case of suspension bridges as the structure of the rope provides strength, flexibility, and the ability to handle bending stresses.

    By Material Type

    The structure ropes market is segmented into steel ropes and synthetic ropes. Steel ropes dominated the market in 2022 and are likely to grow at a healthy rate during the forecast period. They are stiffer and can withstand greater stress as compared to their synthetic counterparts, which has led to their widespread usage in the industry. Synthetic rope has gained some popularity in structure applications in recent years, but it is expected to hold a minor share of the market during the forecast period.

    Regional Analysis

    In terms of regions, North America is expected to remain the largest market for structure ropes during the forecast period. The USA leads the North American structure ropes market, owing to its massive infrastructure spending on both new construction and repair. Europe holds the second-leading position in the market and is expected to maintain its position over the forecast period. Owing to rapid urbanization, expanding 5G infrastructure, and increasing investments in basic infrastructure requirements such as bridges and stadiums, Asia-Pacific is expected to witness the highest growth in the coming years.

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    Key Players

    The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the structure ropes market.

    • Teufelberger-Redaelli
    • Kiswire Group
    • WireCo WorldGroup
    • Bridon-Bekaert The Ropes Group
    • ArcelorMittal S.A.
    • Bharat Wire Ropes Ltd.
    • Fasten Group
    • Fatzer AG
    • Guizhao Wire Rope Incorporated
    • Usha Martin Ltd

    Recent Market JVs and Acquisitions:

    While the overall number of strategic alliances remained limited, the structure ropes market experienced targeted partnerships that enabled companies to combine their expertise, expand their product portfolios, and access new markets. These alliances reflected a strategic approach to navigating market dynamics and enhancing competitiveness in the industry.

    • In 2016, Bridon Group merged with the steel ropes and advanced cords businesses of Bekaert.
    • In 2016, Canadian private equity firm Onex Corp. acquired a majority stake in WireCo WorldGroup. Its previous owner, U.S. private equity firm Paine & Partners, retained a minority interest in the business along with senior management.
    • The Teufelberger Group merged with Redaelli Tecna S.p.A. in 2018 to form Teufelberger-Radaelli, a new brand for wire rope business for various applications. 
    • BBRG acquired its technology partner, VisionTek Engineering Srl, as an important strategic step in extending the service offered to customers. The acquisition will extend the digital capabilities and benefits of the service offering of BBRG (‘Ropes 360’ services). 

    Recent Product Developments:

    • Improved service life and corrosion resistance are the indispensable focus areas of the leading players during product development.

    • DUOFILL® and SUPERFILL® compaction technologies developed by Teufelberger-Redaelli provide advanced resistance against crushing and improve the service life of the ropes.
    • Some key players are galvanizing their steel wires to achieve high wire precision. This ensures exceptional corrosion resistance, optimal stability, and service life.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s structure ropes market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Structure Ropes Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The structure ropes market is estimated to grow at a CAGR of 2.7% by 2028, primarily fueled by increasing investments in infrastructure, a surge in the adoption of 5G networks, and the rapid expansion of the sports industry.

    Teufelberger-Redaelli, Kiswire Group, WireCo World Group, Bridon-Bekaert The Ropes Group (BBRG), Fasten Group, Guizhao Wire Rope Incorporated, Usha Martin Ltd, Fatzer AG (BRUGG Group), Bharat Wire Ropes Ltd., and Arcellor Mittal S.A. are the leading players in the structure ropes market.

    Asia-Pacific is estimated to be the fastest-growing market for structure ropes in the foreseeable future. This is attributable to the high economic growth in the region's emerging economies, increasing infrastructure spending, and rapid urbanization.

    Steel rope is estimated to remain dominant in the structure ropes market in the coming years, owing to its higher stiffness and excellent load-bearing capacity.

    Bridges are likely to maintain their dominance in the market in the next five years, owing to massive investments in infrastructure around the world.

    The Structure Ropes Market is likely to reach US$ 442.6 Million in 2028.