The Global Prestressed Concrete (PC) Wire and Strand Market is projected to reach USD 260.8 million in 2027. Countries around the world are investing heavily in the infrastructure sector. This along with growth of offsite construction and rapid urbanization taking place around the world is expected to drive the market’s growth during the forecast period.
Governments around the world are aiming to strengthen their infrastructure and allocating a huge amount of budgets in this sector. This is leading to large scale construction activities. Apart from this rapid urbanization is taking place, which is leading to the development of massive real estate projects, flyovers or bridges, malls, hotels, hospitals. These factors are having a massive positive impact on the market under study. The consumption of products is continuously increasing resulting in huge amount of revenue. As a result, several startups are also entering the market in order to cater to the continuously growing demands from the end-use industries. Changing lifestyle of people, an increase in the average disposable income of people, is also acting as catalysts in the market’s growth.
Although the prospects of the industry are quite bright, there are some factors that are creating concerns for the major manufacturers. A slowdown in global trade has been noticed across many sectors in recent times, and the situation has become worse after the outbreak of the COVID-19 pandemic. Thus major players in the market are not making expected profits, and this may be quite discouraging for them. Apart from this, the demand for steel is also decreasing, and this is affecting the market’s growth since steel is the most important raw material used in manufacturing the products. These factors are predicted to restrain the market’s growth during the forecast period.
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Market Overview:
As a result of steady revenue growth over the past few years, the manufacturing and construction industry is expected to achieve a robust annual revenue growth rate between 2021 and 2028. In addition to the rapidly growing construction industry, rapid urbanization and industrialization, and technological advancements in manufacturing techniques, this can also be attributed to these factors. Green construction and energy efficient buildings have become increasingly popular in recent years as awareness of environmental impact and carbon emissions has increased. Over the forecast period, key factors are expected to boost global market growth, including the rapid growth of global populations, changing lifestyle preferences, the increasing demand for smart buildings, an increase in renovation and reconstruction activities, and an increase in eco-friendly construction activities. Other factors that will contribute to market growth in the future include an increase in disposable income, government schemes, and investments by private organizations.
Some of the Leading Market Players Are Listed Below:
- ArcelorMittal,
- Bekaert,
- FAPRICELA,
- Henan Hengxing Science Technology Co. Ltd,
- Shagang Group,
- Insteel,
- Kiswire Limited,
- Sumiden Wire,
- Usha Martin
- The Siam Industrial Wire Company Limited
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, RD investments, and joint ventures to gain robust footing in the market.
Market Segmentation:
Surface Coatings Outlook (Revenue, USD Million; 2020-2027)
- Uncoated
- Galvanized
- Epoxy
- Others
Carbon Content Outlook (Revenue, USD Million; 2020-2027)
- High Carbon Content
- Medium Carbon Content
- Low Carbon Content
Application Outlook (Revenue, USD Million; 2020-2027)
- Bridges Flyovers
- Buildings
- Railroad Industry
- Construction Equipment
- Others
The Global Prestressed Concrete (PC) Wire and Strand Market Is Segmented Into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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