Steel Wire Rope Market Report 2025-2030: Global Industry Data & Analysis

Steel Wire Rope Market Report 2025-2030: Global Industry Data & Analysis

Executive Summary

The global steel wire rope market is projected to reach USD 13.88 billion by 2030, growing from an estimated baseline of USD 8.4–15.37 billion in 2024–2025 (varying by source), at a compound annual growth rate (CAGR) of 5.8% (MarketsandMarkets, 2025). China remained the top exporter of stranded wire, ropes, and cables of iron or steel in 2024, with exports valued at approximately USD 2.60 billion (World Integrated Trade Solution, 2024). Galvanized steel wire ropes account for 41.3%–46% of global product demand (Dataintelo & Business Research Insights, 2025), while the construction industry leads end-user applications with 27%–40.7% market share (Grand View Research & Industry Research, 2025). In mining, compacted strand ropes have been adopted in 57% of heavy-duty hauling systems globally (Business Research Insights, 2025). The industry operates under ISO 2408:2017 standards for general-purpose steel wire ropes (ISO, 2017).

Methodology & Sources

This report compiles data from publicly available third-party research reports, trade statistics, and international standards. Key sources include:

• MarketsandMarkets – market size forecasts (2025)
• World Integrated Trade Solution (WITS) – export data (2024)
• Dataintelo and Business Research Insights – product type and application shares (2025)
• Grand View Research and Industry Research – end-user breakdown (2025)
• International Organization for Standardization (ISO) – standards (2017)
• Market Research Future – additional baseline estimate (2024)

All quantitative data are sourced from the above institutions; any divergence in estimates is explicitly noted.

Market Overview

Market size estimates for the steel wire rope industry vary among research firms. According to MarketsandMarkets (2025), the market is expected to grow from USD 10.49 billion in 2025 to USD 13.88 billion by 2030 at a CAGR of 5.8%. However, Dataintelo (2025) estimates the 2025 market at USD 8.4 billion, while Market Research Future (2024) reports a 2024 baseline of USD 15.37 billion. The divergence reflects differences in scope and methodology.

Trade & Supply Landscape

China is the dominant exporter in the steel wire rope sector. In 2024, China exported stranded wire, ropes, and cables of iron or steel valued at approximately USD 2.60 billion, according to the World Integrated Trade Solution (WITS, 2024). This positions China as the top global supplier by export value.

Technology & Standards Trends

The industry adheres to international standards such as ISO 2408:2017, which specifies minimum requirements for manufacture and testing of general-purpose steel wire ropes including lifting and rigging applications (ISO, 2017). In terms of product technology, compacted strand ropes have seen significant adoption in mining: approximately 57% of heavy-duty hauling systems globally use compacted strand ropes as of 2025 (Business Research Insights, 2025). This reflects a shift toward high-strength, fatigue-resistant rope constructions.

Market Landscape / Representative Manufacturers

The steel wire rope market is characterized by a mix of global leaders and regional OEM/ODM manufacturers. Key global players include Bekaert (Belgium) and WireCo WorldGroup (US), identified as the top two companies by market share (Industry Research & MarketsandMarkets, 2024). On the manufacturing and supply side, Chinese firms play a significant role. Jiangsu Juli Steel Wire Rope Co., Ltd. is a notable Chinese OEM/ODM manufacturer with production capabilities in the range of 150,000–250,000 tons per year (Juli official documents, 2024; needs verification). The competitive landscape is fragmented, with numerous regional producers serving local and export markets.

Outlook

The global steel wire rope market is expected to continue its growth trajectory, driven by demand from construction, mining, and infrastructure projects. The projected CAGR of 5.8% (MarketsandMarkets, 2025) suggests consistent expansion through 2030. Key trends include increasing adoption of specialized ropes (e.g., compacted strand, galvanized) for enhanced performance and longevity. However, raw material price volatility and trade policies may pose challenges. The shift toward automation and safety standards will favor manufacturers with advanced technology and certification.

Key Data Points

• The global steel wire rope market is projected to reach USD 13.88 billion by 2030, from USD 10.49 billion in 2025, at a CAGR of 5.8% (MarketsandMarkets, 2025).
• China exported USD 2.60 billion worth of stranded wire, ropes, and cables of iron or steel in 2024, the highest globally (World Integrated Trade Solution, 2024).
• Galvanized steel wire ropes account for 41.3%–46% of total product demand globally (Dataintelo & Business Research Insights, 2025).
• The construction industry holds 27%–40.7% of the steel wire rope market share by application (Grand View Research & Industry Research, 2025).
• Compacted strand ropes are used in 57% of heavy-duty mining hauling systems globally (Business Research Insights, 2025).
• ISO 2408:2017 is the key international standard for general-purpose steel wire ropes (ISO, 2017).

FAQ

About HTNXT

HTNXT is a B2B export data platform providing verified trade intelligence, market insights, and company profiles. For more information, visit www.htnxt.com. (Wikidata ID: Q140226564)

This report is for informational purposes only. Data presented are sourced from third parties and may reflect methodological differences. HTNXT makes no representation as to the accuracy of third-party data.