USD 1.79 Billion
Rope Market Size, Share, Growth Analysis, By Product(Synthetic, Steel, Cotton, Others), By End User(Residential, Commercial, Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2086 |
Region:
Global |
Published Date: July, 2024
Pages:
202
|Tables:
64
|Figures:
76
Rope Market Insights
Global Rope Market size was valued at USD 1.79 Billion in 2022 and is poised to grow from USD 1.95 Billion in 2023 to USD 3.79 Billion by 2031, at a CAGR of 8.7% during the forecast period (2024-2031).
The industrial sector, where the rope has a wide range of uses because of its versatility in handling big items due to improved material developments, is the main driver of global market growth. Another significant aspect that is anticipated to positively affect future market growth is the growing use of rope in high-rise infrastructure construction, particularly in developing nations. Due to the commercial use of polyolefin fibre, the rising displacement of hard fibre ropes with synthetic has moved quickly in industrialised countries. With the use of synthetic ropes, the industry will undergo a revolution of changes.
Traditional materials like steel wire and nylon are being replaced in the market. Also, the nautical sector benefits from the widespread use of synthetic ropes in industrial operations. It offers advantages including stronger, lighter, floatable, and less corrosive mooring, ship-assist, inland towing, and hoisting lines. For lifting and hosting in applications as well as for the transfer of mechanical power, steel wire rope is one of the many varieties that is frequently used. In the future, the Indian government's "Housing for everyone by 2022" programme will continue to be a major driver of these kinds of ropes. The National Association of Home Builders reports that there have been 8.4% more single-family building permits issued in the United States. As a result, it is anticipated that these expanding residential household expansions will increase the demand for various types of ropes and drive-up application costs.
US Rope Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Synthetic
Fastest Growth
Synthetic
Growth Rate
8.7% CAGR
Global Rope Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Rope Market Segmental Analysis
Rope Market is segmented on the basis of Product, End User and region. By Product, the Rope Market is segmented into Synthetic, Steel, Cotton, Others. By End User, market is segmented into Residential, Commercial, Industrial. By region, the Rope Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Rope Market Analysis by Product
The synthetic ropes segment dominated the global market. In place of natural fibres, man-made textile fibres produced by infusing chemicals into manufacturing are utilised to create synthetic ropes. These synthetic ropes are utilised in the pulley system to generate mechanical advantage and efficiently distribute load weight.
Steel ropes segment is expected to grow at the fastest CAGR, mainly used in heavy-duty applications that require high strength and durability. These ropes are made of steel wires and are used in various industries such as construction, mining, oil and gas, and transportation.
Rope Market Analysis by End User
The industrial category dominated the global market. Ropes are widely used in many industries, including mining, oil and gas, marine and fishing, building, and marine transportation. Due to their lightweight characteristics, decreased knocking up and downtime preparation, ease of handling, floatability, and lack of re-lubrication, synthetic ropes are one of the most commonly utilized types of rope in the nautical and fishing industries.
The market is anticipated to grow as a result of an increase in the number of commercial spaces, such as outdoor cafes and restaurants, restoration initiatives, and a trend of renovating outdoor areas. Due to their corrosion resistance and ability to withstand harsh weather conditions like UV radiation, rain, snow, and extremely cold temperatures, ropes are used extensively in the construction industry. Also, the demand for synthetic ropes is benefiting from the growing use of nylon materials in the construction sector.
Global Rope Market Size By Product 2022 (%)
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Rope Market Regional Insights
Asia Pacific dominated the global market. This is attributable to the quickly growing commercial and residential construction industries, which promote the use of strong, lightweight, waterproof ropes. The rising infrastructure demands in emerging economies are another factor driving the demand for synthetic ropes. The IBEF predicts that the infrastructure market in India will increase to $5 billion. Because of this, the region uses synthetic ropes most frequently across a number of industries, particularly the construction sector.
The North America market is expected to grow at the fastest CAGR. Alternatives have replaced steel wires with great tensile strength and extended endurance in many shapes and uses. Hence, synthetic ropes are a top choice in the construction, maritime, and oil and gas industries. The United States generated more than 80% of all revenues in North America.
Global Rope Market Size By Geography, 2022-2030
- Largest
- Fastest
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Rope Market Dynamics
Rope Market Drivers
Growing demand from construction and infrastructure industries
- The construction and infrastructure industries are significant end-users of ropes, especially steel ropes, in various applications such as lifting, hauling, and suspension. The growing demand for construction and infrastructure development activities in emerging economies is expected to drive the growth of the global market. Increasing need for modernisation and expansion of existing infrastructure such as roads, railways, airports, and ports drives the demand for ropes.
Growing demand for oil and gas exploration
- The oil and gas industry is a major user of ropes, especially wire ropes, for various applications such as drilling, exploration, and extraction. With the increasing demand for oil and gas and the need for exploration of new reserves, the demand for ropes is expected to grow.
Rope Market Restraints
Volatility in raw material prices
- The prices of raw materials used in the manufacturing of ropes, such as steel wires and synthetic fibers, are subject to fluctuations due to various factors such as supply and demand, geopolitical tensions, and trade policies. This can affect the cost of production for rope manufacturers and impact the profitability of the market.
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Rope Market Competitive Landscape
Due to the prevalence of several domestic and foreign competitors, the global market has been defined by intense competition, leading to a fragmented market. Few businesses have concentrated on providing services to the industrial sector in an effort to obtain an advantage over other businesses by appealing to the big customer base. Businesses like Samson Rope Technologies and Yale Cordage's Works have been concentrating on meeting industrial demand, ranging from rescue and forestry applications to aerospace, marine, mining, safety, arborist, marine, fishing, off-road, and general cordage. These businesses offer a wide range of product variants, including Nylon, Polyester, Polypro, Spectra, and Kevlar ropes.
Rope Market Top Player’s Company Profiles
- WireCo WorldGroup (US)
- Teufelberger Holding AG (Austria)
- Samson Rope Technologies, Inc. (US)
- Bridon-Bekaert (UK)
- Marlow Ropes Ltd. (UK)
- Southern Ropes (South Africa)
- Katradis Marine Ropes Ind. S.A. (Greece)
- CERTEX Svenska AB (Sweden)
- Yale Cordage Inc. (US)
- Lankhorst Ropes (Netherlands)
- Cortland Limited (US)
- English Braids (UK)
- Phillystran, Inc. (US)
- Usha Martin Ltd. (India)
- Wire Rope Industries (Canada) Ltd. (Canada)
- Touwfabriek Langman B.V. (Netherlands)
- Samson Maritime Limited (US)
- Miami Cordage/Florida Wire & Rigging Works (US)
- Gutehoffnungshütte Radsatz GmbH (Germany)
- HBC-radiomatic GmbH (Germany)
- Langman Ropes (Netherlands)
Rope Market Recent Developments
- In March 2023, Crane rope production in Missouri was done by Prairie Village-based WireCo WorldGroup, which enabled them to access a $6 billion market in the US.
- Verlinde introduced the Eurobloc VF range of synthetic rope electric lifting devices in February 2023. The product can handle loads weighing up to 20,000 kg. The 15 patent-protected innovations included in the new designs include ultra-resistant synthetic ropes that can replace traditional steel ropes.
- Jump rope producer Crossrope, LCC debuted a brand-new, exclusive collection of jump ropes in January 2023. Vinny Guadagnino, a digital influencer and reality television celebrity, helped launch the product. Together with specially manufactured handles, Vinny Jumps has two new ropes that were designed by Crossrope and the Jersey Shore star.
Rope Key Market Trends
Growing demand for high-performance ropes
- The increasing demand for high-strength, durable, and lightweight ropes in various applications such as lifting, mooring, and towing is driving the development of high-performance ropes. These ropes are made of advanced materials such as high-strength fibers and alloys and are designed to withstand extreme conditions.
Rope Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global rope market analysis, the growth is attributed to the increasing demand for ropes in various construction, marine, and transportation applications. The players focus on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. synthetic ropes are gaining traction due to their high strength-to-weight ratio and durability. The Asia Pacific region is expected to grow significantly due to the increasing demand from emerging economies. The global market is expected to grow steadily over the forecast period due to the increasing demand from various end-use industries and the development of new and innovative products.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.79 Billion |
| Market size value in 2031 | USD 3.79 Billion |
| Growth Rate | 8.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Rope Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Rope Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Rope Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Rope Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Rope Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Rope Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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