Top 60 Global Companies in Steel Wire (2025–2035): Competitive Analysis And Forecast
RELEASE DATE: Sep 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Steel Wire Market Size is projected to Grow from USD 118.9 Billion in 2024 to USD 218.7 Billion by 2035, at a CAGR of 5.7% during the forecast period 2025–2035. The steel wire market is expanding due to increasing global construction and infrastructure projects, especially high-rise buildings, which require steel as a fundamental structural component for strength and durability.
Introduction
The Steel Wire Market Size refers to the global industry involved in the production, distribution, and sale of steel wires used in construction, automotive, infrastructure, and industrial applications for strength and support. The growing infrastructure, industrial, and construction sectors are driving the robust expansion of the worldwide steel wire market. Because they reinforce concrete and are used in fencing and safety barriers, steel wires are crucial for bridges, highways, and buildings. Major development drivers in developing nations like China, India, and Southeast Asia include rapid urbanisation and significant infrastructure projects, such as China's Belt and Road Initiative and India's PM Gati Shakti. Another important customer is the automobile sector, whose demand for advanced high-strength steel is rising as a result of the move to electric vehicles (EVs). Additionally, the renewable energy sector requires specialized steel wires for wind turbines, solar systems, and hydro projects. Steel wire is crucial in industries like mining, oil & gas, and marine operations. Adoption is further accelerated by technological developments in corrosion resistance and wire endurance. The market for steel wire is expected to continue growing internationally due to emerging prospects such as eco-friendly wire solutions and lightweight, heat-resistant wires for EVs, smart cities, and 5G infrastructure.
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Steel Wire Market Size & Statistics
- The Market Size for Steel Wire Was Estimated to be worth USD 118.9 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 5.7% between 2025 and 2035.
- The Global Steel Wire Market Size is anticipated to reach USD 218.7 Billion by 2035.
- Asia Pacific is expected to generate the highest demand during the forecast period in the Steel Wire Market
- North America is expected to grow the fastest during the forecast period in the Steel Wire Market.
Regional growth and demand
North America is expected to grow the fastest during the forecast period in the steel wire market. The demand for steel wire for reinforcement, fences, suspension cables, and structural supports has increased as a result of the U.S. Infrastructure Investment and Jobs Act's large budget allocations for roads, bridges, and public transportation systems. Additionally, the market is expanding due to the increased usage of steel wire in structural and concrete reinforcing applications brought about by the push for residential construction development, especially in suburban and semi-urban areas.
Asia Pacific is expected to generate the highest demand during the forecast period in the steel wire market. The fast-growing infrastructure and construction sectors in the Asia Pacific are the main drivers of the region's strong growth. Large-scale urbanisation is occurring in nations like China, India, and Southeast Asia, which is driving up investments in commercial, industrial, and residential infrastructure. Steel wire is an essential part of infrastructure development because it is frequently used to support concrete structures, fencing, suspension bridges, and lifts. Furthermore, government-sponsored programs like India's Smart Cities Mission and China's Belt and Road Initiative are driving up demand for steel wire in a variety of building and transit projects.
Top 10 trends in the Steel Wire Market
- Rising demand from construction and infrastructure projects
- Increased use in electric vehicles (EVs)
- Growth in renewable energy applications
- Technological advancements in wire durability and coatings
- Expansion of smart cities and 5G infrastructure
- Surge in infrastructure development in emerging economies
- Shift toward high-strength and lightweight steel wires
- Growing demand in the automotive sector
- Increased use in industrial applications (mining, oil & gas, marine)
- Focus on sustainable and recyclable steel wire products
1. Rising demand from construction and infrastructure projects
For reinforcement and structural strength, steel wires are essential in roads, buildings, and bridges. Steel wire is becoming more and more necessary to sustain major infrastructure projects and urban growth as construction activity expands worldwide, particularly in developing nations.
2. Increased use in electric vehicles (EVs)
Electric vehicle manufacturers use steel wires for springs, cables, and reinforcements. The shift to EVs boosts demand for high-strength, lightweight wire materials that improve safety and efficiency, making steel wire essential in modern vehicle platforms and battery components.
3. Growth in renewable energy applications
Steel wires are used in wind turbines, solar panel mounting systems, and hydroelectric structures. As global investments in clean energy grow, the need for durable and specialized wires that can withstand extreme conditions is also increasing, driving market demand.
4. Technological advancements in wire durability and coatings
The strength, flexibility, and corrosion resistance of steel wire are enhanced by new technologies in wire drawing, galvanising, and coating. Steel wires are now more adaptable for use in construction, industry, and maritime settings due to these advancements that improve performance in challenging conditions.
5. Expansion of smart cities and 5G infrastructure
The rise of smart cities and 5G networks requires robust infrastructure, including cables, energy grids, and data lines. Fine and high-performance steel wires are essential in supporting telecommunication cables and structural components in these advanced urban systems.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the steel wire market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 10 Companies Leading the Steel Wire Market
- Arcelor Mittal
- Bekaert
- JFE Steel Holdings
- Kobe Steel Limited
- LIBERTY Steel Group
- Nippon Steel Corporation
- Tata Steel Limited
- VAN MERKSTEIJN INTERNATIONAL
- Henan Hengxing Science & Technology Co., Ltd.
- Tianjin Huayuan Metal Wire Products Co.Ltd.
- Others
1. Arcelor Mittal
Headquarters: Luxembourg City, Luxembourg
ArcelorMittal is renowned for providing sustainable and creative steel solutions. Established in 2006 as a result of a merger, the firm has operations in more than 60 nations and is a significant provider of steel wire products for the industrial, automotive, energy, and construction industries. By funding recycling programs and low-carbon steelmaking technology, ArcelorMittal is dedicated to lowering its carbon footprint. The company creates high-strength, lightweight, and environmentally friendly steel wires with a strong emphasis on research and development. These wires enable the expansion of global infrastructure and the sustainable development of various industries while also keeping up with trends in green building and transportation.
2. Bekaert
Headquarters: Zwevegem, Belgium
Bekaert is a global market leader in steel wire transformation and coating technologies, with a history dating back to 1880. The company provides advanced steel wire solutions for construction, automotive, energy, agriculture, and industrial applications. Known for its innovation and sustainability focus, Bekaert develops high-performance, durable, and eco-friendly products, including steel wire for reinforcement, tire cord, and precision components. With a presence in over 120 countries and strong R&D capabilities, Bekaert supports energy efficiency, mobility, and infrastructure development worldwide. The company is committed to reducing environmental impact through green technologies and circular practices, aligning with global sustainability goals.
3. JFE Steel Holdings
Headquarters: Tokyo, Japan
JFE Steel Holdings is one of Japan’s leading steel manufacturers, known for producing high-quality steel products for construction, automotive, shipbuilding, and energy sectors. Founded in 2002, the company is a core subsidiary of JFE Holdings, Inc. JFE Steel emphasizes technological innovation, offering advanced high-strength steel wires and sheets that meet modern performance and environmental standards. The company is actively engaged in decarbonization efforts, including hydrogen-based steelmaking and recycling initiatives. With robust R&D and a global distribution network, JFE Steel supports infrastructure development and green manufacturing, contributing to sustainable growth and eco-efficient solutions across diverse industrial applications worldwide.
4. Kobe Steel Limited
Headquarters: Kobe, Japan
Kobe Steel, Ltd., operating under the brand KOBELCO, is a diversified Japanese manufacturer known for its high-performance steel and aluminum products. Founded in 1905, the company is a key supplier of steel wire rods and bars used in construction, automotive, and industrial machinery. Kobe Steel is recognized for its technological expertise, especially in producing high-strength, lightweight steel for advanced engineering applications. With a strong focus on sustainability, the company promotes eco-friendly manufacturing and recycling practices. Through continuous innovation and global partnerships, Kobe Steel contributes to energy-efficient infrastructure, green mobility, and next-generation manufacturing solutions in domestic and international markets.
5. LIBERTY Steel Group
Headquarters: London, United Kingdom
LIBERTY Steel Group is committed to innovation and sustainable production. It was founded in 1992 and runs several steel facilities in Australia, the Americas, and Europe. High-quality steel products, such as steel wires utilised in the energy, automotive, and construction industries, are LIBERTY Steel's speciality. The company's recycling and decarbonisation efforts highlight its commitment to environmental responsibility. LIBERTY Steel reduces its carbon footprint while promoting industrial growth and infrastructure development with a strong commitment to green technology and the circular economy. It is a major player in the changing steel market because of its global presence and flexible strategy.
Are you ready to discover more about the Steel Wire market?
The report provides an in-depth analysis of the leading companies operating in the global steel wire market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes
Company Profiles
- Arcelor Mittal
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Bekaert
- JFE Steel Holdings
- Kobe Steel Limited
- LIBERTY Steel Group
- Nippon Steel Corporation
- Tata Steel Limited
- VAN MERKSTEIJN INTERNATIONAL
- Henan Hengxing Science & Technology Co., Ltd.
- Tianjin Huayuan Metal Wire Products Co.Ltd.
- Others
Conclusion
The market for steel wire is expanding gradually due to rising demand from the commercial, industrial, and construction sectors for sustainable and energy-efficient products. Product performance and ease of installation are being improved by advancements in smart technologies and materials. Steel wire's continuous global expansion and quality enhancements position it as a crucial component of sustainable building and infrastructure solutions, guaranteeing its continued relevance and success in the changing market landscape despite obstacles like competition and raw material volatility.
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