Rope Market Size valued at USD 12.5 Billion in 2022. The Rope market industry is projected to grow from USD 13.35 Billion in 2023 to USD 22.59 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2023 - 2032). Increased demand across various industries and applications and growing demand for high-performance ropes are the key market drivers enhancing the growth of market.
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for rope is being driven by the increasing demand across various industries and applications worldwide. As the population continues to grow, urbanization and the need for modern infrastructure are on the rise. Ropes play a crucial role in various construction applications, including lifting heavy materials, supporting structures, and ensuring worker's safety at construction sites. Additionally, the growth of the renewable energy sector, like wind turbines and offshore oil platforms, has also significantly increased the demand for specialized ropes designed to withstand harsh environmental conditions.
The combination of construction and industrial projects, along with the expanding renewable energy sector, has created a substantial and sustained demand for ropes, driving the growth of the rope market in recent years. Further, the ropes are essential for maritime applications, including mooring, towing and anchoring ships. With trade and shipping being vital components of the modern economy, the marine and shipping industry continually drives the demand for high-quality ropes. Mining and oil & gas exploration require ropes for various purposes like hosting equipment and transporting materials in challenging environments. As exploration and extraction activities expand, so does the demand for durable and reliable ropes. Also, agriculture relies on ropes for tasks like fencing, animal handling and crop management. As agricultural practices evolve to become more efficient and productive, the demand for ropes that can withstand the rigors of farm work grows.
Furthermore, the ropes are extensively used in offshore applications, including wind farms and oil platforms. The growth of renewable energy sources, like offshore wind energy, contributes to the increasing demand for specialized ropes designed for these harsh environments. Also, the ropes are used in various recreational activities and sports, like rock climbing, sailing and mountaineering. As the interest in outdoor recreation and adventure sports continues to rise, so does the demand for ropes that meet safety and performance standards. It plays an important role in safety and rescue operations. The emphasis on public safety and disaster preparedness drives the need for high-quality ropes used by first responders and emergency services. Further, the innovation in rope technology and the availability of ropes through online e-commerce platforms, retail stress and increasing demand for sustainability are boosting the demand for rope.
As a result, it is anticipated that throughout the projection period, demand for rope will increase due to the rising demand from different industries in the market. Thus, driving the Rope market revenue.
The Rope market segmentation, based on type, includes Synthetic, Steel Wire, Cotton and Others. The steel wire segment dominated the market, accounting for 72% of market revenue. A steel wire rope is dominantly utilized in the construction, oil & gas, mining, and marine industries. These ropes safeguard and support the external strands for impactful functionality, as it has a higher strength-to-weight ratio, acting as an important factor for the different applications. Further, synthetic ropes are anticipated to experience the fastest growth, as it has high bend fatigue durability, strength-to-weight ratio, strong spooling capabilities and, are lighter in weight and have increased use in cranes.
The Rope market segmentation, based on distribution channels, includes Industrial, Commercial and Residential. The industrial segment dominates the market as ropes are broadly utilized in various industries, including construction, maritime and fishing, because of their lightweight, simple handling, less downtime preparation and do not require re-lubing properties. These ropes assist with the best insulating capacity, prevention of absorption, chemical resistance and environmental resistance. Further, the commercial segment is anticipated to experience the fastest growth during the forecast period.
Figure 1: Rope Market, by End User, 2022 & 2032 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study offers market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific Rope market area is expected to dominate the market because of the fast expansion of commercial and residential construction activities in the developing countries of this region, demanding durable and waterproof ropes that are lightweight and higher in strength. Further, the region is a major manufacturing hub for various industries, which involves the use of ropes for materials handling and production equipment maintenance, contributing to the demand for ropes.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.
Figure 2: ROPE MARKET SHARE BY REGION 2022 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
European rope market accounts for the second-largest market share because of the increased demand for synthetic ropes from increased marine and fishing businesses across the region. Further, the German Rope market held the largest market share, and the UK Rope market was the fastest-growing market in the European region.
The North American Rope Market is expected to grow at the rapid CAGR from 2023 to 2032. This is due to the growth in the robust construction and infrastructure development sector and continuous investments in upgrading and expanding its infrastructure. Moreover, the US Rope market held the largest market share, and the Canadian Rope market was the fastest-growing market in the Asia-Pacific region.
Leading market participants are investing heavily in research and development in order to expand their product lines, which will help the Rope market grow even more. Market participants are also undertaking a various strategic activities to spread their footprint, with important market developments inclusive of new product launches, contractual agreements, higher investments, mergers and acquisitions, and collaboration with several other organizations. To spread and survive in a more competitive and the rising market climate, the Rope industry must offer cost-effective items.
Manufacturing locally to reduces operational costs is one of the key business tactics used by manufacturers in the Rope industry to benefit clients and increase the market sector. In recent years, the Rope industry has offered some of the most significant advantages to several industries. Major players in the Rope market, including Bridon-Bekaert Ropes Group, Yale Cordage, Marlow Ropes, WireCo WorldGroup, TEUFELBRGER, Magento Inc., Cortland Limited, Southern Ropes, Van Beelen Group BV, Dynamica Ropes, Samson Rope Technologies, Yale Cordage, and others, are atting to increase market demand by investing in the research and development operations.
WireCo WorldGroup is a manufacturer and distributor of specialty steel wire ropes, synthetic ropes and wire products. The company serves a broad range of industries and applications, including construction, mining, oil & gas, maritime, cranes and hoists and more. The company operates ly, with manufacturing facilities, distribution centers and sales offices in different regions. Further, the company invests in research and development to innovate and improve its rope products continually. The company also focuses on product quality, safety and compliance with industry standards and regulations. In February 2023, WireCo WorldGroup partnered with Asahi Kasei to develop new high-performance ropes for the offshore wind industry. This partnership will combine expertise in rope manufacturing of WireCo with Asahi Kasei’s advanced fiber technology to create ropes that are stronger, lighter, and more durable than traditional ropes.
The Bridon-Bekaert Ropes Group was formed as a joint venture between Bridon International Ltd. and Bekaert NV in 2013. This UK-based company operates ly, with manufacturing facilities, distribution centers and sales offices in various regions, serving a broad range of industries and applications ly. The company provides steel wire ropes, synthetic ropes, and specialty ropes with innovative technology. The company also places a strong emphasis on product quality, safety and compliance with industry standards and regulations. Similarly, it emphasizes sustainability and environmental responsibility. In February 2022, Bridon-Bekaert Ropes Group acquired VisionTek Engineering Srl, which is an Italy-based engineering software and computer vision systems company, in order to expand its service offering to the customers. This acquisition was aimed at expanding the digital capabilities and benefits of the service offering of Bridon-Bekaert Ropes Group.
Key Companies in the Rope market include
Rope Industry Developments
March 2023: Samson Rope Technologies acquired Safeworking Systems, a manufacturer of fall protection equipment. This acquisition will allow Samson to expand its product offerings and offer customers with a more comprehensive solution for safety.
January 2023: Rope Partner, a leading provider of wind turbine blade repair and maintenance services, partnered with Edge Solutions, a manufacturer of leading-edge erosion protection systems for wind turbine blades. The partnership will see Rope Partner install Armour Edge, Edge Solution’s innovative protection system, on wind turbine blades in the United States.
January 2023: Yale Cordage Collaborated with DSM Dyneema to develop a new line of ropes made from Dyneema, a high-performance fiber that is stronger than steel. These ropes are designed for use in a variety of applications, including construction, marine and industrial.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 12.5 Billion |
| Market Size 2023 | USD 13.35 Billion |
| Market Size 2032 | USD 22.59 Billion |
| Compound Annual Growth Rate (CAGR) | 6.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, The UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Bridon-Bekaert Ropes Group, Yale Cordage, Marlow Ropes, WireCo WorldGroup, TEUFELBRGER, Magento Inc., Cortland Limited, Southern Ropes, Van Beelen Group BV, Dynamica Ropes, Samson Rope Technologies, Yale Cordage ย |
| Key Market Opportunities | Increasing demand for high-performance ropes. |
| Key Market Dynamics | Increase demand for ropes in the construction and infrastructure industries. |
Frequently Asked Questions (FAQ) :
The Rope market share was valued at USD 12.5 Billion in 2022.
The market is foreseen to rise at a CAGR of 6.80% during the forecast period, 2023-2032.
Asia Pacific had the biggest share of the market
The key players in the market are Bridon-Bekaert Ropes Group, Yale Cordage, Marlow Ropes, WireCo WorldGroup, TEUFELBRGER, Magento Inc., Cortland Limited, Southern Ropes, Van Beelen Group BV, Dynamica Ropes, Samson Rope Technologies, Yale Cordage.
The steel wire category dominated the market in 2022.
The industrial held the largest share of the market.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.ย
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