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.

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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.

Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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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

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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

Key Segments Profiled in the Wire Rope Sling Industry Survey

By Design:

  • Eye & Eye Slings
  • Bridle Slings
  • Nine-Part Slings

By End-User:

  • Offshore Service Equipment
  • Installation of Oilfield Drilling
  • Subsea Lifting Application
  • Construction & Industrial Lifting

By Sales Channel:

  • Direct Sales
  • Distributor

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

What is the anticipated growth of the Wire Rope Sling Market until 2032?

FMI projects the global Wire Rope Sling Market to expand at a 4.55% value CAGR by 2032

Which Region is forecast to be the most lucrative for Wire Rope Sling Market growth?

Asia Pacific is expected to be the most opportunistic Wire Rope Sling Market, expanding at a 3% CAGR

Which are some Prominent Players in the Wire Rope Sling Market?

Lift-All, Super Slings, Midco Sling, UNIROPE LTD, Page Wire Rope, Mid-America Rigging L.L.C., WireCo, Certex USA, Gunnebo Industries AB, and Holloway Houston, Inc, among others are some prominent Wire Rope Sling Market players

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
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