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Jun 13, 2024

The Steel Wire Rope Market in India

News provided by 28 Sep, 2018, 09:00 ET Share this article DUBLIN, Sept. 28, 2018 /PRNewswire/ -- The "India Steel Wire Rope Market Outlook to 2023 - by Coating (Plain Black, Galvanized and Others),

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28 Sep, 2018, 09:00 ET

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DUBLIN, Sept. 28, 2018 /PRNewswire/ --

The "India Steel Wire Rope Market Outlook to 2023 - by Coating (Plain Black, Galvanized and Others), by Industry Application (Construction and Engineering, Oil & Gas, Mining, Shipping and Others)" report has been added to ResearchAndMarkets.com's offering.

Indian steel wire rope market, in terms of revenue is expected to increase at a single digit CAGR during FY'2018-FY'2023 owing to infrastructure projects like Housing Projects, AMRUT, Smart City Mission and DMIC, along with resurgence in demand due to growth in mining industry as well as Oil and Gas industry.

The resurgence in the Oil and Gas industry is expected to increase the number of oil rigs which will further add impetus to the growth of steel wire rope industry. Steel Wire Rope market value majorly depends on growth of end user industries and CAPEX been laid by private and public participants in the market.

By Domestic and Exports Sales

Domestic sales have contributed the maximum share to the steel wire ropes market in FY'2018. Domestic companies' incapability of meeting international standards has been the proximate reason for fewer sales in the exports market. Usha Martin Limited, Bharat Wire Ropes Limited and Bedmutha Industries Limited cater to the needs of foreign market.

By Industry Application

Engineering and Construction segment has contributed the largest share in terms of revenues in FY'2018 from sales of wire ropes due to increasing government allocation on infrastructure projects like Housing for All, AMRUT and Smart Cities Mission. This was followed by the Oil and Gas Industry which contributed second largest share in terms of revenues in FY'2018.

By Wire Coating

Plain Black Carbon Steel Wire Ropes segment has dominated the steel wire rope market in terms of production volume. The cost of black carbon ropes is more economical than galvanized wire ropes by 10-15% as they do not include the additional cost of zinc and associated production processes which appeals to Indian buyers. However, Galvanized steel wire ropes are more durable and hence they are exported to foreign countries or used in coastal areas domestically.

By Rope Composition

Steel wire ropes use wire rods of black carbon steel, stainless steel or other steel alloys as raw material. There are various sub-segments of the steel types within these umbrella terms. Black carbon steel ropes dominate the market and account for highest production of the total in India steel wire rope market. The black carbon wire ropes are highly versatile and can be uncoated or galvanized. Stainless steel wire ropes are corrosion and rust resistant and are used majorly in marine applications.

By Organized and Un-organized Players

In FY'2018, unorganized players have dominated the market in terms of sales volume followed by organized players. Organized players have a production capacity of more than or equal to 500 tons per annum while un-organized players have a production capacity of less than 500 tons per annum.

By Type of Lay

Regular lay wire ropes dominate the steel wire rope industry due to their versatility and accounted for maximum production of total production of wire ropes in FY'2018. Lang lay wire ropes are used in elevator and mining industries and made up for second largest production, whereas Alternate lay wire ropes accounted for the remaining share of the production volume.

Competitive Landscape

The Indian steel wire rope market is an extremely competitive market due to a mixture of increasing production of manufacturers and declining demand from user industries. The competition is more pronounced in the domestic market, due to a drastic reduction in the number of mines during FY'2015.

Usha Martin Ltd. is the leading company in terms of revenues and production volume in India steel wire rope market. Bharat wire is the second largest company followed by Bedmutha Ltd. The other major companies in India steel wire rope market are Aradhya Ropes and Slings Private Limited, Asahi Ropes Private Limited, Orion Ropes Private Limited, Shree Steel Wire Ropes Limited and Mahadev Industries.

Majorly the companies are following the two strategies which include increasing premium product portfolio and competing on high volume-low cost basis for base products.

Key Topics Covered

1. Executive Summary

2. Appendix2.1. Market Definition2.2. Abbreviations2.3. Market Sizing And Modeling

3. India Steel Wire Rope Market3.1. India Steel Wire Rope Market Introduction3.2. Value Chain Analysis of India Steel Wire Rope Market3.3. Manufacturing Process of Steel Wire Ropes3.4. Steel Wire Ropes Inspection Parameters3.5. Steel Wire Rope Testing4. India Steel Wire Rope Market Size, FY'2013 - FY'20184.1. India Steel Wire Rope Market Size By Value, FY'2013 - FY'2018Overview5. India Steel Wire Rope Market Segmentation5.1. By Domestic And Export Sales, FY'2013 - FY'20175.2. By Coating (Plain Black, Galvanized and Others), FY'20185.3. By Industry Application (Construction and Engineering, Oil & Gas, Mining, Shipping and Others), FY'2013 and FY'2018

5.4. By Sector (Organized and Unorganized Sector), FY'20185.5. By Type Of Lay (Regular Lay, Lang Lay and Others), FY'20185.6. By Regional Demand (Western, Southern, Northern and Eastern Region), FY'20186. Trade Scenario For India Steel Wire Rope Market, FY'2012-FY'20186.1. By Exports, FY'2012-FY'20186.2. By Imports, FY'2012-FY'20186.3. Norms And Regulations For Steel Wire Ropes In India6.3.1. IS 1855:20036.3.2. IS 1856: 20056.3.3. IS 2266: 20026.3.4. IS 2365: 19776.3.5. IS 2581: 20027. Trends And Development In India Steel Wire Rope Market

8. Issues and Challenges in India Steel Wire Rope Market

9. Porter Five Forces Analysis for Indian Steel Wire Rope Market10. Order Procedure for Steel Wire Ropes In India

10.1.1. User Decision Marking Parameters11. Market Share Of Major Players In India Steel Wire Rope Market, FY'2018

12. Company Profiles of Major Players in India Steel Wire Rope Market12.1. Usha Martin limited12.2. Bharat Wire Ropes Limited12.3. Bedmutha Industries limited12.4. Aradhya Ropes and Slings Private Limited12.5. Asahi Ropes Private Limited12.6. Orion Ropes Private Limited12.7. Shree Steel Wire Ropes Limited12.8. Mahadev Industries13. Snapshot on Smart Cities Mission and Influence on Steel Wire Report Market13.1. Pradhan Mantri Awas Yojana - Housing For All (Urban)13.2. Atal Mission for Rejuvenation and Urban Transformation (AMRUT)14. India Steel Wire Rope Market Future Outlook And Projections, FY'2019 - FY'202314.1. India Steel Wire Ropes Market Future Outlook By Value, FY'2018 - FY'202314.2. Future Outlook By Market Structure, FY'2018 and FY'202314.3. Future Projections by End User Industries (Construction and Engineering, Oil & Gas, Mining, Shipping and Others), FY'202314.4. Analyst Recommendations

For more information about this report visit https://www.researchandmarkets.com/research/qgfldn/the_steel_wire?w=5

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