North America Steel Wire Rope Market Forecast to 2031 - Regional Analysis - by Product Type (Stainless Steel Wire Rope, Galvanized Steel Wire Rope, Carbon Steel Wire Ropes, and Coated Steel Wire Ropes), Type (Regular Lay and Lang Lay), End Use (Mining, Oil and Gas, Building and Construction, Marine and Fishing, and Others)

April 2025 | 123 pages | ID: NB5FA11A9C0AEN
The Insight Partners

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The North America steel wire rope market was valued at US$ 1,638.95 million in 2023 and is expected to reach US$ 2,340.66 million by 2031; it is estimated to register a CAGR of 4.6% from 2023 to 2031.

Strong Growth in Building and Construction Industry Fuels North America Steel Wire Rope Market

In the building and construction industry, steel wire ropes are used in various applications, such as anchoring buildings, suspending scaffolding systems, and hoisting and lifting heavy loads. Stainless steel wire rope also finds application in bridge construction, where the highest tensile strength and durability are highly required. The ability of steel wire ropes to resist corrosion in harsh environments makes them ideal for coastal bridge construction. In addition, steel wire ropes are used in various architectural projects. Architects and designers highly integrate stainless steel wire ropes into their creations due to their functional and aesthetic qualities. The stainless-steel wire ropes are mainly used as border construction or intermediate cables for greenery or suspension of design elements at fa?ades. Moreover, steel wire ropes are highly used for elevator applications due to their two main features: redundancy and detectability. The building and construction industry is growing in various countries across the globe due to factors such as increasing investments in construction activities; growing residential, commercial, infrastructural, and industrial construction; increasing population; and rising urbanization. This, in turn, is increasing the demand for various construction materials and products, including steel wire ropes.

In the US, the construction industry is one of the major industries. Growing residential and commercial construction activities, increasing investments in the construction industry, and rising government initiatives for developing public infrastructure drive the US construction industry. Additionally, the construction of new bridges and the repair, rehabilitation, and replacement of old bridges is increasing. According to the news released in January 2023, the US Department of Transportation announced funding of US$ 2.1 billion to improve four key bridges, which include the Golden Gate and Brent Spence. The first round of grants will fund four projects that connect communities in five states. In addition to the four main grants, the Federal Highway Administration announced an additional bridge planning grant of US$ 1.6 million to the US Army Corps of Engineers for planning work in support of the replacement of the Bourne and Sagamore Bridges over the Cape Cod Canal. Also, construction in the manufacturing sector is an essential part of the country's economy. This sector has long been a driver of economic growth in the US. The industrial construction sector in the country includes a wide range of construction projects, including warehouses, factories, and processing plants. As the US continues to expand its manufacturing and production capabilities, the need for top-notch industrial facilities is increasing. Various companies are investing heavily in new construction projects across the country, from warehouses to factories to processing plants. The US is experiencing a striking surge in construction spending for manufacturing facilities. According to the official website of the US Government, real manufacturing construction spending in the US has doubled since the end of 2021, as shown in the figure below:

Real Total Manufacturing Construction Spending (US$ Billion)

Source: Official website of the US Government

Thus, the growing industrial construction in the US is leading to increased demand for steel wire ropes.

The following chart shows the construction spending across the world per year.

Thus, the growing construction industry is leading to increased demand for steel wire ropes.

North America Steel Wire Rope Market Overview

The North America steel wire rope market is driven by growing demand from building & construction, oil & gas, mining, marine, and fishing industries. The strong growth of the building & construction industry in the region is fueling the demand for steel wire ropes for the construction of bridges and elevators. Steel wire ropes also play an important role in cranes used for various applications in the building & construction industry. In the US, the industrial construction sector is an essential part of the country's economy. This sector has been a driver of economic growth in the US. The US is experiencing a striking surge in construction spending for manufacturing facilities. The surge in real manufacturing construction spending is due to a supportive policy environment for the construction of manufacturing facilities. This includes the Infrastructure Investment and Jobs Act (IIJA), Inflation Reduction Act (IRA), and CHIPS Act, which provides direct funding and tax incentives for public and private manufacturing construction. In Canada, industrial construction continues to be one of the country's important building sectors. The industrial construction sector in Canada is growing due to factors such as the increase in the construction of huge warehouses, the conversion of older industrial spaces for modern uses, and strong consumer demand along with population growth.

The growth of the industrial construction sector creates massive demand for cranes. Furthermore, cranes provide the necessary lifting capacity, precision, and efficiency to handle heavy loads in industrial construction. Cranes have become an important tool in industrial construction, enabling the completion of complex projects within required timeframes and budgets. Further, the growing mining and oil and gas exploration activities in the region drive the demand for steel wire ropes. Steel wire ropes are a popular material in the mining industry owing to their exceptional durability and resistance to rust and corrosion. They are used for hoisting equipment, as a load-carrying cable in elevators, and for slope stabilization and emergency support.

North America Steel Wire Rope Market Revenue and Forecast to 2031 (US$ Million)

North America Steel Wire Rope Market Segmentation

The North America steel wire rope market is categorized into type, product type, end use, and country.

Based on product type, the North America steel wire rope market is segmented into stainless steel wire rope, galvanized steel wire rope, carbon steel wire ropes, and coated steel wire ropes. The galvanized steel wire rope segment held the largest North America steel wire rope market share in 2023.

In terms of type, the North America steel wire rope market is segmented into regular lay and lang lay. The regular lay segment held a larger North America steel wire rope market share in 2023.

By country, the North America steel wire rope market is segmented into the US, Canada, and Mexico. The US dominated the North America steel wire rope market share in 2023.

Usha Martin Ltd, Tyler Madison Inc, Central Wire Inc, TEUFELBERGER, ArcelorMittal SA, PFEIFER Holding GmbH & Co. KG, WireCo, and Bekaert are some of the leading companies operating in the North America steel wire rope market.

Reason to buy
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America steel wire rope market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the North America steel wire rope market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America steel wire rope market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
The List of Companies - North America Steel Wire Rope Market
  • Usha Martin Ltd
  • Tyler Madison Inc
  • Central Wire Inc
  • TEUFELBERGER
  • ArcelorMittal SA
  • PFEIFER Holding GmbH & Co. KG
  • WireCo
  • Bekaert
1. INTRODUCTION

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
1.3 Limitations and Assumptions

2. EXECUTIVE SUMMARY

2.1 Key Insights
2.2 Market Attractiveness

3. RESEARCH METHODOLOGY

3.1 Secondary Research
3.2 Primary Research
  3.2.1 Hypothesis formulation:
  3.2.2 Macro-economic factor analysis:
  3.2.3 Developing base number:
  3.2.4 Data Triangulation:
  3.2.5 Country level data:

4. NORTH AMERICA STEEL WIRE ROPE MARKET LANDSCAPE

4.1 Overview
4.2 Porters Five Forces Analysis
  4.2.1 Bargaining Power of Suppliers
  4.2.2 Bargaining Power of Buyers
  4.2.3 Threat of New Entrants
  4.2.4 Intensity of Competitive Rivalry
  4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
  4.3.1 Raw Material Suppliers:
  4.3.2 Manufacturers:
  4.3.3 Distributors/Suppliers:
  4.3.4 End-Use Industry:
  4.3.5 List of Vendors in the Value Chain

5. NORTH AMERICA STEEL WIRE ROPE MARKET - KEY MARKET DYNAMICS

5.1 Market Drivers
  5.1.1 Strong Growth in Building and Construction Industry
  5.1.2 High Demand for Steel Wire Ropes from Oil & Gas Industry
5.2 Restraint
  5.2.1 Fluctuations in Prices of Raw Materials
5.3 Opportunity
  5.3.1 Increasing Demand for Galvanized Steel Wire Ropes
5.4 Future Trend
  5.4.1 Focus on Recycling Steel Wire Ropes
5.5 Impact Analysis

6. STEEL WIRE ROPE MARKET - NORTH AMERICA ANALYSIS

6.1 North America Steel Wire Rope Market Volume (Kilo Tons), 2021-2031
6.2 North America Steel Wire Rope Market Volume Forecast and Analysis (Kilo Tons)
6.3 North America Steel Wire Rope Market Revenue (US$ Million), 2023-2031
6.4 North America Steel Wire Rope Market Revenue Forecast and Analysis

7. NORTH AMERICA STEEL WIRE ROPE MARKET ANALYSIS - BY PRODUCT TYPE

7.1 Stainless Steel Wire Rope
  7.1.1 Overview
  7.1.2 Stainless Steel Wire Rope: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
  7.1.3 Stainless Steel Wire Rope: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Galvanized Steel Wire Rope
  7.2.1 Overview
  7.2.2 Galvanized Steel Wire Rope: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
  7.2.3 Galvanized Steel Wire Rope: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Carbon Steel Wire Ropes
  7.3.1 Overview
  7.3.2 Carbon Steel Wire Ropes: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
  7.3.3 Carbon Steel Wire Ropes: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Coated Steel Wire Ropes
  7.4.1 Overview
  7.4.2 Coated Steel Wire Ropes: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
  7.4.3 Coated Steel Wire Ropes: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)

8. NORTH AMERICA STEEL WIRE ROPE MARKET REVENUE ANALYSIS - BY TYPE

8.1 Regular Lay
  8.1.1 Overview
  8.1.2 Regular Lay: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Lang Lay
  8.2.1 Overview
  8.2.2 Lang Lay: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)

9. NORTH AMERICA STEEL WIRE ROPE MARKET REVENUE ANALYSIS - BY END USE

9.1 Mining
  9.1.1 Overview
  9.1.2 Mining: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Oil and Gas
  9.2.1 Overview
  9.2.2 Oil and Gas: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Building and Construction
  9.3.1 Overview
  9.3.2 Building and Construction: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Marine and Fishing
  9.4.1 Overview
  9.4.2 Marine and Fishing: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Others
  9.5.1 Overview
  9.5.2 Others: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)

10. NORTH AMERICA STEEL WIRE ROPE MARKET - COUNTRY ANALYSIS

10.1 North America
  10.1.1 North America Steel Wire Rope Market Breakdown by Key Countries, 2023 and 2031 (%)
    10.1.1.1 North America Steel Wire Rope Market Volume and Forecast and Analysis - by Country
    10.1.1.2 North America Steel Wire Rope Market Revenue and Forecast and Analysis - by Country
    10.1.1.3 United States Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
      10.1.1.3.1 United States Steel Wire Rope Market Breakdown by Product Type
      10.1.1.3.2 United States Steel Wire Rope Market Breakdown by Type
      10.1.1.3.3 United States Steel Wire Rope Market Breakdown by End Use
    10.1.1.4 Canada Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
      10.1.1.4.1 Canada Steel Wire Rope Market Breakdown by Product Type
      10.1.1.4.2 Canada Steel Wire Rope Market Breakdown by Type
      10.1.1.4.3 Canada Steel Wire Rope Market Breakdown by End Use
    10.1.1.5 Mexico Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
      10.1.1.5.1 Mexico Steel Wire Rope Market Breakdown by Product Type
      10.1.1.5.2 Mexico Steel Wire Rope Market Breakdown by Type
      10.1.1.5.3 Mexico Steel Wire Rope Market Breakdown by End Use

11. COMPETITIVE LANDSCAPE

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. INDUSTRY LANDSCAPE

12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition

13. COMPANY PROFILES

13.1 Usha Martin Ltd
  13.1.1 Key Facts
  13.1.2 Business Description
  13.1.3 Products and Services
  13.1.4 Financial Overview
  13.1.5 SWOT Analysis
  13.1.6 Key Developments
13.2 Tyler Madison Inc
  13.2.1 Key Facts
  13.2.2 Business Description
  13.2.3 Products and Services
  13.2.4 Financial Overview
  13.2.5 SWOT Analysis
  13.2.6 Key Developments
13.3 Central Wire Inc
  13.3.1 Key Facts
  13.3.2 Business Description
  13.3.3 Products and Services
  13.3.4 Financial Overview
  13.3.5 SWOT Analysis
  13.3.6 Key Developments
13.4 TEUFELBERGER
  13.4.1 Key Facts
  13.4.2 Business Description
  13.4.3 Products and Services
  13.4.4 Financial Overview
  13.4.5 SWOT Analysis
  13.4.6 Key Developments
13.5 ArcelorMittal SA
  13.5.1 Key Facts
  13.5.2 Business Description
  13.5.3 Products and Services
  13.5.4 Financial Overview
  13.5.5 SWOT Analysis
  13.5.6 Key Developments
13.6 PFEIFER Holding GmbH & Co. KG
  13.6.1 Key Facts
  13.6.2 Business Description
  13.6.3 Products and Services
  13.6.4 Financial Overview
  13.6.5 SWOT Analysis
  13.6.6 Key Developments
13.7 WireCo
  13.7.1 Key Facts
  13.7.2 Business Description
  13.7.3 Products and Services
  13.7.4 Financial Overview
  13.7.5 SWOT Analysis
  13.7.6 Key Developments
13.8 Bekaert
  13.8.1 Key Facts
  13.8.2 Business Description
  13.8.3 Products and Services
  13.8.4 Financial Overview
  13.8.5 SWOT Analysis
  13.8.6 Key Developments

14. APPENDIX

14.1 About The Insight Partners
LIST OF TABLES

Table 1. North America Steel Wire Rope Market Segmentation
Table 2. List of Vendors
Table 3. North America Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
Table 4. North America Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Table 5. North America Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons) - by Product Type
Table 6. North America Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Product Type
Table 7. North America Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Type
Table 8. North America Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by End Use
Table 9. North America Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons) - by Country
Table 10. North America Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Country
Table 11. United States Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons) - by Product Type
Table 12. United States Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Product Type
Table 13. United States Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Type
Table 14. United States Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by End Use
Table 15. Canada Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons) - by Product Type
Table 16. Canada Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Product Type
Table 17. Canada Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Type
Table 18. Canada Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by End Use
Table 19. Mexico Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons) - by Product Type
Table 20. Mexico Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Product Type
Table 21. Mexico Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by Type
Table 22. Mexico Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million) - by End Use
 

LIST OF FIGURES

Figure 1. North America Steel Wire Rope Market Segmentation, by Country
Figure 2. North America Steel Wire Rope Market Porter's Analysis
Figure 3. Ecosystem: North America Steel Wire Rope Market
Figure 4. North America Steel Wire Rope Market - Key Market Dynamics
Figure 5. Real Total Manufacturing Construction Spending (US$ Billion)
Figure 6. Impact Analysis of Drivers and Restraints
Figure 7. North America Steel Wire Rope Market Volume (Kilo Tons), 2021-2031
Figure 8. North America Steel Wire Rope Market Revenue (US$ Million), 2023-2031
Figure 9. North America Steel Wire Rope Market Share (%) - Product Type, 2023 and 2031
Figure 10. Stainless Steel Wire Rope: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
Figure 11. Stainless Steel Wire Rope: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 12. Galvanized Steel Wire Rope: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
Figure 13. Galvanized Steel Wire Rope: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 14. Carbon Steel Wire Ropes: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
Figure 15. Carbon Steel Wire Ropes: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 16. Coated Steel Wire Ropes: Steel Wire Rope Market - Volume and Forecast to 2031 (Kilo Tons)
Figure 17. Coated Steel Wire Ropes: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 18. North America Steel Wire Rope Market Share (%) - Type, 2023 and 2031
Figure 19. Regular Lay: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 20. Lang Lay: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 21. North America Steel Wire Rope Market Share (%) - End Use, 2023 and 2031
Figure 22. Mining: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 23. Oil and Gas: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 24. Building and Construction: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 25. Marine and Fishing: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 26. Others: Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 27. North America Steel Wire Rope Market Revenue, by Key Countries, (2023) (US$ Mn)
Figure 28. North America Steel Wire Rope Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 29. United States Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 30. Canada Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 31. Mexico Steel Wire Rope Market - Revenue and Forecast to 2031 (US$ Million)
Figure 32. Heat Map Analysis by Key Players
Figure 33. Company Positioning & Concentration



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