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Jul 29, 2023

Rope Market size to grow by USD 4.15 billion from 2022 to 2027

News provided by 21 Aug, 2023, 07:45 ET Share this article NEW YORK, Aug. 21, 2023 /PRNewswire/ -- The rope market is expected to grow by USD 4,150.05 million from 2022 to 2027, progressing at a CAGR

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21 Aug, 2023, 07:45 ET

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NEW YORK, Aug. 21, 2023 /PRNewswire/ -- The rope market is expected to grow by USD 4,150.05 million from 2022 to 2027, progressing at a CAGR of 5.57% as per the latest Technavio market research report. APAC is going to have lucrative growth during the forecast period. About 51% of the market's overall growth is expected to originate from APAC. China, Japan, South Korea, and India are the key contributors to the market in the region. This growth in the region is due to the presence of a large end-user base in these countries. The key factor for the growth is the rising demand for synthetic ropes from the residential construction segment. In addition, increasing awareness about the sport and safety aspects of synthetic ropes is increasing the demand for synthetic ropes. Hence, such factors are expected to drive market growth in the region during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

Rope Market: Market Dynamics

Key Drivers- Increasing investment in infrastructure is a key factor driving market growth.

Major Trends

New product launches are major trends in the market. Major company innovations and product launches are expected to attract more end users and help companies increase consumer reach. Furthermore, there is an increasing effort in the market by major players to replace the conventional raw materials used in rope production with modern options that have no negative impact on the environment in the production process. For example, the Euro block VF winch uses Dyneema rope, an ultra-lightweight polyethylene thread that is up to 15 times stronger than steel. They are highly resistant to abrasion, moisture, UV rays, and chemicals. In addition, they also have high energy absorption and very low elongation.

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Some of the key Rope Market Players:

The rope market is fragmented, and companies are deploying organic and inorganic growth strategies to compete in the market.

BRIDON INTERNATIONAL GmbH, Cortland Ltd., CSR Inc., Donaghys Ltd., English Braids Ltd., Erin Rope Corp., Gottifredi Maffioli Srl, Hampidjan Group, Katradis Marine Ropes Ind SA, Marlow Ropes Ltd., Novatec Braids Ltd., ROPENET, Samson Rope Technologies Inc., Southern Ropes, Teufelberger Holding AG, Touwfabriek Langman B.V., Usha Martin Ltd., van Beelen Group BV, WireCo, and Yale Cordage Inc.

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Rope Market: Segmentation Analysis

This market research report segments the rope market by product (steel wire, synthetic, cotton, and others), end-user (industrial, commercial, and residential), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

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Company Landscape

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Rope Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.57%

Market growth 2023-2027

USD 4,150.05 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.58

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 51%

Key countries

US, Canada, China, India, and Germany

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

BRIDON INTERNATIONAL GmbH, Cortland Ltd., CSR Inc., Donaghys Ltd., English Braids Ltd., Erin Rope Corp., Gottifredi Maffioli Srl, Hampidjan Group, Katradis Marine Ropes Ind SA, Marlow Ropes Ltd., Novatec Braids Ltd., ROPENET, Samson Rope Technologies Inc., Southern Ropes, Teufelberger Holding AG, Touwfabriek Langman B.V., Usha Martin Ltd., van Beelen Group BV, WireCo, and Yale Cordage Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio