On February 24, 2026, at 11:13 AM CET, a report was released concerning the Chemicals & MaterialsSteel Wire Rope Market. The report highlighted the market size and growth, indicating that the global Steel Wire Rope market is projected to experience a significant compound annual growth rate (CAGR) during the forecast period of 2024-2031.
For those interested in a more detailed analysis, a complimentary sample PDF of the report is available for download. Priority will be given to corporate email IDs.
Key developments in the United States were also highlighted in the report. In May 2025, WireCo introduced a new product to the market, a plastic-coated steel wire rope named Boomfit. This product, designed for use in telescopic cranes, crawler cranes, and large tower cranes, is expected to enhance operational durability and field performance.
In February 2025, Bekaert made a strategic decision to sell its Steel Wire Solutions businesses in Costa Rica, Ecuador, and Venezuela to Grupo AG. The deal, worth approximately USD 73 million, allows Bekaert to refocus its portfolio on its core manufacturing capabilities.
In the same year, Brugg Group completed the acquisition of GNA Wires, thereby expanding its premium steel wire rope sling production capacity and broadening its global market footprint.
Southwest Wire Rope also made significant strides in March 2025 by securing a major multi-year contract to supply steel wire rope sling programs to a leading global mining operator. This contract reinforces its position in heavy industrial supply chains.
In Japan, Usha Martin’s UK arm, Brunton Shaw, manufactured and delivered a 102 mm OCEANMAX35 steel wire rope (3,300 m, 187 tons) for a 250-ton crane on a construction vessel in May 2025. This achievement showcases the advanced manufacturing capability of the Japanese-partnered company.
In February 2025, Bridon-Bekaert Rope Group announced a strategic partnership with Parker Hannifin. The partnership aims to co-develop high-performance steel wire rope solutions for offshore wind and heavy-lifting applications, aligning with Japan’s renewable and offshore infrastructure initiatives.
BridonBekaert expanded its footprint by acquiring Jiangsu Yixing Steel Wire Rope in China in March 2025. This acquisition enables integrated supply for offshore and construction rope demand linking Japanese manufacturing networks.
In May 2025, WireCo WorldGroup secured a major offshore crane rope supply contract for a multi-platform oil and gas project, reinforcing its role as a global supplier with capacity tied to Japan-anchored industrial markets.
Key players in the market include Bekaert S.A., Cortland Limited, Samson Rope Technologies, Southern Ropes, Marlow Ropes, Teufelberger, WireCo World Group, Gustav Wolf GmbH, Lanex A.S., and Jiangsu Langshan Wire Rope Co., Ltd.
The report also segmented the market by material. Carbon Steel dominates with an estimated 45% share, widely used across industrial, construction, and marine applications for its strength and cost-effectiveness. Stainless Steel accounts for 35%, preferred in corrosive environments due to its resistance to rust and corrosion.
