Market Research Reports - Ken Research Organized Steel Wire Rope Manufacturers | Page 4

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.
Future Outlook to India Steel Wire Rope Market
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.
Key Topics Covered in the Report
India steel wire rope market introduction
Value chain analysis in India Steel Wire Rope market
India steel wire rope market size by value
India steel wire rope market segmentation by Sales (Domestic and Exports Sales), by coating
(Plain Black, Galvanized and Others), by Industry Application (Construction and Engineering, Oil
& Gas, Mining, Shipping and Others), by sector (Organized and Un-organized), by type of Lay
(Regular Lay, Lang Lay and Others) and by Regional Demand (Western, Southern, Northern and
Eastern Region).