Market Snapshot:
Elevator ropes are highly engineered and made of steel with other composites that have close dimensional tolerance and stringent material quality level to meet the tough safety requirement. In these ropes, not a single wire but several strands of various sizes wrapped together. In these multiple wires, strands are being used to increase the life of the cable and give flexibility.
Highlights from Elevator Ropes Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Manufacturers profiled in the report are PFEIFER DRAKO Drahtseilwerk GmbH (Germany), Usha Martin Ltd. (India), Tokyo Rope Mfg. Co. Ltd. (Japan), Brugg' Drahtseil AG (Switzerland), WireCo World Group (United States), Gustav Wolf GmbH (Germany), Bharat Wire Ropes Limited (India), Alps Wire Rope Corporation (United States), Jiangsu Safety Steel Wire Rope Co., Ltd (China) and Loos & Co., Inc. (United States). Additionally, other players that are part of this comprehensive study are Mak Kee International H.K. Limited (Hong Kong), Santini Funi Srl (Italy), KISWIRE LTD (Korea) and N.V. Bekaert S.A. (Belgium).
Geographic Breakdown and Segment Analysis
The Global Elevator Ropes market presents a comprehensive analysis of the Elevator Ropes market and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Elevator Ropes industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Elevator Ropes market
Analyst at AMA have segmented the market study of Global Elevator Ropes market by Type, Application and Region.
Influencing Trend:
Growing Demand for High-rise Buildings and Increased Number of Distribution Channels
Market Growth Drivers:
Increased Number of Construction Activities Worldwide and High Benefits of Elevator Ropes such as High Quality and Durability
Challenges:
The Advent of Rope-less Elevators
Restraints:
Fluctuations in the Raw Material Prices such as Steel
Opportunities:
Rising Demand for Elevator Ropes For Numerous Applications and Increasing Demand from End-users
Market Developments Activities:
In December 2023, A group of leading universities and elevator companies join forces to research and develop innovative rope inspection and monitoring technologies based on artificial intelligence and machine learning.
In December 2023, WireCo WorldGroup reveals its next-generation, corrosion-resistant elevator rope coated with a special polymer, extending rope life and reducing maintenance needs in harsh environments.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations.
Key Target Audience
Elevator Ropes Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies and End-users