PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424363
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424363
Bead Wire Market, By Product Type, By Tensile Strength, By End-use Industry, By Region
The global bead wire market size is expected to reach US$ 1.60 billion by 2030, from US$ 1.24 billion in 2023, growing at a CAGR of 3.7% during the forecast period.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2023/2024: | US$ 1.24 Bn |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 - 2030 |
| Forecast Period 2023/2024 to 2030/2031 CAGR: | 3.70% | 2030/2031 Value Projection: | US$ 1.60 Bn |
Bead wire is a crucial component in the manufacturing of tires. It is typically made from high-strength steel wire and is used to reinforce the structure of the tire. Bead wire provides the necessary strength and stability to prevent the tire from slipping off the wheel, while also ensuring a secure fit on the rim.
The global bead wire market has been experiencing steady growth in recent years, owing to the increasing demand for tires in the automotive industry. The rising production and sales of vehicles, coupled with the growing emphasis on safety and performance, are driving the demand for bead wire. Furthermore, the expansion of the tire manufacturing industry in emerging economies is anticipated to fuel market growth in the coming years.
Market Dynamics:
The bead wire market is driven by several factors, including:
Increasing automotive production: The growth of the automotive sector, particularly in developing countries, is driving the demand for bead wire. The rise in vehicle production, coupled with the increasing demand for high-performance tires, is propelling the market growth.
Emphasis on safety and durability: With growing awareness about road safety, there is a rising demand for tires that offer enhanced stability and durability. Bead wire plays a crucial role in ensuring the tire's structural integrity, thus driving its demand.
Growing tire manufacturing industry: The expansion of the tire manufacturing industry in emerging economies, such as China and India, is contributing to market growth. These countries are witnessing a significant increase in tire production, leading to a higher demand for bead wire.
However, the market for bead wire faces certain challenges, including:
Fluctuating raw material prices: The cost of raw materials, such as steel wire, can be volatile. This poses a challenge for bead wire manufacturers, as it affects their production costs and profit margins.
Environmental concerns: The production of bead wire involves the use of certain chemicals and energy-intensive processes. This has raised environmental concerns, prompting manufacturers to adopt sustainable practices and develop eco-friendly alternatives.
Opportunities in the bead wire market include:
Technological advancements: The development of advanced manufacturing techniques and materials can create opportunities for bead wire manufacturers to improve product performance and cater to emerging needs in the automotive sector.
Growing aftermarket sales: The aftermarket segment presents growth opportunities for bead wire manufacturers. With increasing vehicle ownership and the need for tire replacements, there is a steady demand for bead wire in the aftermarket.
Key Features of the Study:
- Market Analysis: The report provides in-depth analysis of the global bead wire market, including market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), with 2022 as the base year
- Revenue Opportunities: It elucidates potential revenue opportunities across different market segments and provides attractive investment proposition matrices for the bead wire market
- Market Insights: The study provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- Company Profiles: Key players in the global bead wire market, including Bekaert, Kiswire, Rajratan Global Wire, Shandong Daye, Snton Steel, ArcelorMittal, Hyosung, Tokusen Kogyo, Heico Wire Group, and TATA Steel, are profiled in terms of company highlights, product portfolio, key highlights, financial performance, and strategies.
- Decision-making Support: Insights from this report enable marketers and management authorities to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
- Stakeholder Engagement: The global bead wire market report caters to various stakeholders, including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts, providing them with the necessary information to make informed decisions
- Strategy Matrices: Stakeholders can leverage various strategy matrices used in analyzing the global bead wire market to facilitate decision-making
Bead Wire Market Segmentation
- Bead Wire Market by Product Type
- Radial Tires
- Bias Tires
- Bead Wire Market by Tensile Strength
- High Tensile Strength
- Regular Tensile Strength
- Bead Wire Market by End-use Industry
- Automotive
- Construction
- Mining
- Agriculture
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Top companies in Bead Wire Market
- Bekaert
- Kiswire
- Rajratan Global Wire
- Shandong Daye
- Snton Steel
- ArcelorMittal
- Hyosung
- Tokusen Kogyo
- Heico Wire Group
- TATA Steel
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Bead Wire Market, By Product Type
- Bead Wire Market, By Tensile Strength
- Bead Wire Market, By End-use Industry
- Bead Wire Market, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Increasing demand from tire manufacturing industry
- Growth of steel cord and tire bead industry
- Surging demand from Asia Pacific
- Technological advancements
- Restraints
- Volatility in raw material prices
- Growing adoption of tubeless tires
- Consolidation in tire industry
- Opportunities
- Technological advancements
- Growing traction towards sustainable tires
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Bead Wire Market - Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
5. Bead Wire Market, By Product Type, 2017-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
- Radial Tires
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
- Bias Tires
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
6. Bead Wire Market, By Tensile Strength, 2017-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018- 2030
- Segment Trends
- High Tensile Strength
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
- Regular Tensile Strength
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
7. Bead Wire Market, By End-use Industry, 2017-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018- 2030
- Segment Trends
- Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
- Construction
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
- Mining
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
- Agriculture
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Bn)
8. Bead Wire Market, By Region, 2017-2030, (US$ Bn)
- Introduction
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country 2018-2030
- Country Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Tensile Strength, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End-use Industry, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017-2030,(US$ Bn)
- U.S.
- Canada
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Tensile Strength, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End-use Industry, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017-2030,(US$ Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Tensile Strength, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End-use Industry, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017-2030,(US$ Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Tensile Strength, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End-use Industry, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017-2030,(US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Tensile Strength, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End-use Industry, 2017-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2017-2030,(US$ Bn)
- GCC Countries
- Israel
- South Africa
- Central Africa
- North Africa
- Rest of Middle East
9. Competitive Landscape
- Bekaert
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Kiswire
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Rajratan Global Wire
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Shandong Daye
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Snton Steel
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- ArcelorMittal
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Hyosung
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Tokusen Kogyo
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Heico Wire Group
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- TATA Steel
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Analyst Views
10. Section
- Research Methodology
- About us
