The global wire rope sling market was worth US$ 2.5 Billion in the year 2022 and is expected to reach US$ 3.9 Billion by the year 2032 at a CAGR of 4.55% between 2022 and 2032.
Wire rope sling comes across as a kind of portion of rigging hardware used in hoisting and lifting activities. It is, in fact, used in several sectors and also aids in attaching the lifting device to the load. Integration with IoT is also possible. Heavy duty jobs like load anchoring, carrying load, loading, and towing could be easily carried out through wire rope sling. The rope assemblies are generally made from steel wire ropes having terminations toward the end.
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Another advantage on the part of wire rope slings is that they have a longer life-span and do not get adversely affected through dirty or sticky conditions.
Wire rope comprises multiple strands of wire braided and twisted together for forming a helix or spiral design. One wires separately shaped into solid form, they turn out to be a single wire with much greater strength as the individual wires tend to equalize pressure and do render greater flexibility as compared to individual strands.
The wire ropes’ strength could be further enhanced by grouping and winding together for producing cables; which does add to utility as a means of supporting, lifting, and imparting structural stability.
The factor to ponder about regarding wire rope sling is ‘lay of strands’. These could be lang or regular. With right, regular, or right lay, strands get wound to right from left with wires laid in strands’ opposite direction. On the other hand, with lang lay, wires get wound in same direction.
The design and structure of the wire rope does result in an ultimate product having excellent strength flexibility, superlative strength, and ability of handling continuous bending stress along with being resistant to weather.
Wire rope could be found in the form of a tow cable for airplanes and boats or even in the film industry as harness for the stunt artists. Thus, every application asking for flexibility, endurance, and strength has wire rope slings.
In aerospace vertical, wire ropes/Bowden cables, do connect levers and pedals in airplane cockpit for sending power to the aircraft systems for exercising control over airplane. Thus, things controlled through wire ropes include cowl flaps, propeller pitch, and throttle. It needs to be noted that wire ropes on the aircraft are provided in insulated form for averting vibrations. In automobiles, the uses include cables, steering, springs, exhausts, doors, sunroofs, and seat components. In construction vertical, wire ropes could be used to support concrete columns and suspension bridges. In oil & gas industry, they are used for drilling operations. In food processing industry, they are used for moving raw materials or products to processing centers and storage units.
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Wire Rope Sling Market’ with its team of analysts and consultants going for bottom-up approach in their primary, secondary, and tertiary modes of research.
“With growing awareness about the facts that wire rope slings are resistant to UV, fire, humidity, and toxic chemicals, the global wire rope sling market is slated to grow at an atrocious rate going forward.
Key Takeaways from Wire Rope Sling Market
- The Asia-Pacific holds the largest market share due to extensive research conducted on this count. The scenario is expected to remain the same even going forward.
- North America and Europe are at the matured stage of wire rope sling market and the status quo is expected to remain the same even in the forecast period.
Competitive Analysis
- Midco Sling is known for manufacturing and distributing wire rope across various customers across the Southern States.
- Gunnebo Industries provides wire rope slings – Wheelbarrow sling, 3-legged, with sling hooks (EKN), wire rope sling 1-legged, wire rope sling 1-legged with eye + safety hook, and likewise.
- HHI Lifting does supply wire rope slings catering to industrial lifting requirements with cutting-edge testing services.
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Key Segments Profiled in the Wire Rope Sling Industry Survey
Design:
- Eye & Eye Slings
- Bridle Slings
- Nine-Part Slings
End-User:
- Offshore Service Equipment
- Installation of Oilfield Drilling
- Subsea Lifting Application
- Construction & Industrial Lifting
Sales Channel:
- Direct Sales
- Distributor
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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