The global steel wire market size was valued at USD 91.33 billion in 2018 and is expected to reach USD 112.14 billion by 2026, exhibiting a CAGR of 2.7% during the forecast period. Increasing construction activities in the residential sector and rising government spending in emerging economies may foster market growth. Fortune Business Insights™ provides this information in its report titled “Steel Wire Market, 2019-2026.”

Information Source-

https://www.fortunebusinessins....ights.com/steel-wire

Segmentation

Carbon Steel Segment to Dominate Owing to Rising Applications from the Construction Industry

By grade, the market is segmented into carbon steel, stainless steel, and flat steel, alloy steel.

The carbon steel segment is expected to dominate due to its rising applications in the construction sector. Further, technological advancements have enhanced the product’s quality, thereby facilitating segmental growth.

Construction Segment to Dominate Owing to Increasing Commercial and Residential Projects

As per the end-use industry, the market is classified into automotive, construction, energy, agriculture, and others.

The construction segment is expected to dominate due to rising residential and commercial projects globally. Furthermore, rapid infrastructure development globally is expected to facilitate segmental growth.

Regionally, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.