Wire Rope Sling Market

Wire Rope Sling Market Overview

Global Wire Rope Sling Market demand is anticipated to be valued at USD 2.5 Billion in 2022, forecast to grow at a CAGR of 4.55% to be valued at USD 3.9 Billion from 2022 to 2032. The growth of the Wire Rope Sling Market is attributed to its global utilization across the Automotive industry.

Report Attribute	Details
Estimated Base Year Value (2021)	USD 2.1 Billion
Expected Market Value (2022)	USD 2.5 Billion
Anticipated Forecast Value (2032)	USD 3.9 Billion
Projected Growth Rate (2022 to 2032)	4.55% CAGR

Wire rope sling is a type of significant piece of rigging hardware which is used in lifting and hoisting activities. It is extensively used in numerous sectors and also helps in attaching the load to the lifting device and are also accessible in a wide range of settings supporting a wide variety of apps.

It is a solid equipment which is ideal for heavy duty jobs such as carrying, load anchoring, towing, and loading. They are utility-oriented wire rope assemblies used for climbing and crane operation and are generally made from steel wire ropes with terminations at the end.

Asia Pacific is considered to be a dominant region for the Wire Rope Sling Market, owing to the major factor that is expected to propel the growth of the Wire Rope Sling Market during the forecast period includes rising research and development activities in the market and rising modernization in the market.

The factor that is expected to hinder the growth of the Wire Rope Sling Market during the forecast period includes the wire rope slings having a longer service life and not being not adversely affected by sticky or dirty conditions.

Which are Some Prominent Drivers Spearheading Wire Rope Sling Market Growth?

The major factors that are expected to drive the growth of Wire Rope Sling Market during the forecast period include rising marine industry, which also has an imperative rigging feature in the manufacturing industry as it involves substantial heavy duty charging and heavy object moving, which increases the demand for wire rope sling.

Moreover, the wire rope slings are also resistant to adverse conditions such as humidity, fire, UV and most chemicals and have an excellent resistance to abrasion and heat and can therefore be used in extreme conditions and temperatures, which acts as the major factors that are expected to propel the wire rope sling market during the forecast period.

In addition, rising research and development activities in the market and rising modernization in the market are other major factors that will further create new opportunities for wire rope sling market in the forthcoming years.

What are the Challenges Faced by the Wire Rope Sling Industry?

When compared to other slings, wire rope slings have a longer service life and are not adversely affected by sticky or dirty conditions. This is a major factor that is expected to hamper the growth of the Wire Rope Sling market during the forecast period.

How is Asia Pacific region Emerging as an Opportunistic Wire Rope Sling Market?

The Asia Pacific region is expected to dominate the Wire Rope Sling market, attributed to the rising the development in emerging economies such as China and India.

Moreover, rising research and development activities in the region as well as and rising modernization in the market is expected to fuel the market growth in the region. Additionally, Asia Pacific Wire Rope Sling Market is expected to expand at a 3% CAGR during the forecast period.

How is North America Contributing to Growth of the Wire Rope Sling Market?

According to Future Market Insights, North America is anticipated to witness growth at a lucrative rate over the forecast period, owing to the rising favorable technical advances by government in these regions

Market Competition

Some of the key participants present in the global Wire Rope Sling Market include Lift-All, Super Slings, Midco Sling, UNIROPE LTD, Page Wire Rope, Mid-America Rigging L.L.C., WireCo, Certex USA, Gunnebo Industries AB, Holloway Houston, Inc, Bishop Lifting Products, Inc, Ashley Sling, Inc., and Slingmax Rigging Solutions, among others.

Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as NTF India Pvt. Ltd., and Sino Mould Co., Ltd., account for a considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 4.55% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Design, End Use, Sales Channel, Region
Regions Covered	North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Poland, Russia, Australia & New Zealand, China, India, ASEAN, GCC, South Africa
Key Companies Profiled	Lift-All; Super Slings; Midco Sling; UNIROPE LTD; Page Wire Rope; Mid-America Rigging L.L.C.; WireCo; Certex USA; Gunnebo Industries AB; Holloway Houston, Inc; Bishop Lifting Products, Inc; Ashley Sling, Inc.; Slingmax Rigging Solutions
Customization	Available Upon Request

Table of Content

• 1. Executive Summary
• 2. Industry Introduction, including Taxonomy and Market Definition
• 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
• 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
• 5. Pricing Analysis
• 6. Global Market Analysis and Forecast
  • 6.1. Design
  • 6.2. End-User
  • 6.3. Sales Channel
• 7. Global Market Analysis and Forecast, By Design
  • 7.1. Eye & Eye Slings
  • 7.2. Bridle Slings
  • 7.3. Nine-Part Slings
• 8. Global Market Analysis and Forecast, By End-User
  • 8.1. Offshore Service Equipment
  • 8.2. Installation of Oilfield Drilling
  • 8.3. Subsea Lifting Application
  • 8.4. Construction & Industrial Lifting
• 9. Global Market Analysis and Forecast, By Sales Channel
  • 9.1. Direct Sales
  • 9.2. Distributor
• 10. Global Market Analysis and Forecast, By Region
  • 10.1. North America
  • 10.2. Latin America
  • 10.3. Western Europe
  • 10.4. Eastern Europe
  • 10.5. APEJ
  • 10.6. Japan
  • 10.7. Middle East & Africa
• 11. North America Sales Analysis and Forecast, by Key Segments and Countries
• 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries
• 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
• 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
• 15. APEJ Sales Analysis and Forecast, by Key Segments and Countries
• 16. Japan Sales Analysis and Forecast, by Key Segments and Countries
• 17. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries
• 18. Sales Forecast by Design, End-User, and Sales Channel for 30 Countries
• 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
• 20. Company Profile
  • 20.1. Lift-All
  • 20.2. Super Slings
  • 20.3. Midco Sling
  • 20.4. UNIROPE LTD
  • 20.5. Page Wire Rope
  • 20.6. Mid-America Rigging L.L.C.
  • 20.7. WireCo
  • 20.8. Certex USA
  • 20.9. Gunnebo Industries AB
  • 20.10. Holloway Houston, Inc
  • 20.11. Bishop Lifting Products, Inc
  • 20.12. Ashley Sling, Inc.
  • 20.13. Slingmax Rigging Solutions