Global Wire Drawing Machines Market was valued $xx Mn in 2019 and is expected to reach $xx Mn by 2026, at a CAGR of xx% during the forecast period.
Global Wire Drawing Machines Market Introduction:
Wire drawing is an important industry playing a significant role in the development of society. The wire is fabricated into thousands of different kinds of articles, which are used for a great variety of purposes. The common use of steel wires is as automobile and bicycle spokes, hoops, rivets, bolts, chains, buckles, wire rope cotter pins, screws, wire netting, wire cloth, and a host of others. The sophistication achieved by the industry has been remarkable during the last two decades and the industry has been successful in achieving a product range of various types of high carbon, alloy steel, and special steel wires.
Global Wire Drawing Machines Market Dynamics:
Number of developments have taken place with regard to quality and types of wire being produced for different use. Also, a substantial increase in the speed with, which the wires are being produced using different types of machines and automation in the process of using computers is significant. Continuous research and development by different leading companies in U.S.A., Japan, Germany, and the U.K., have led to the development of newer wire drawing machines such as slip type machines, auxiliary equipment such as bundle packers with continuous operation, automatic packing machines, etc. R&D efforts are being made by the wire drawing machinery manufacturers for the development and up-gradation of the wire drawing machines. The penetration of automation in this industry is expected to propel market growth.
Rising industrialization in developing and developed countries are driving the wire drawing machines market. Moreover, wire drawing machines are utilized in the manufacturing of electrical wiring, cables, and paper clips. This, in turn, is expected to increase the demand for wire drawing machines worldwide. Continuous rise in automobile production is also an important factor that is helping the global wire drawing machines market to grow.
Global Wire Drawing Machines Market Segment Analysis:
High speed wet wire drawing has become very common for the production of fine high-carbon steel wire (up to 0.70wt%C) because of the increase in customer demand and production rates in real industrial fields. Consistent rise in demand for wire drawing machines due to the continuous increase in demand for cars, consumer goods, as well as heavy equipment or machinery is expanding the segment growth. Rise in industrialization is the major factor affecting the segment expansion and in turn affecting the global market for wire drawing machines.
Global Wire Drawing Machines Market by Product
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Global Wire Drawing Machines Market Regional Insights:
Global Wire Drawing Machines Market by Regional
Asia Pacific is expected to hold a significant share of the global wire drawing machines during the forecast period due to a rise in construction activities owing to increasing population in the region. India is now producing a large variety of wire drawing machines starting from block machines to intermediate rod breakdown machines and fine wire drawing machines suitable for drawing of both ferrous & non-ferrous wires. These machines are manufactured by different manufacturers in collaboration with leading wire drawing machinery manufacturers from France, U.K., Germany and U.S.A.
The wire drawing machines market in Europe is expected to grow at a significant rate during the forecast period due to expansion of automotive and manufacturing sectors in the region. North America is expected to hold a prominent share of the global wire drawing machines market due to increasing demand for wires and cables in electrical industries in the region.
Global Wire Drawing Machines Market Report Scope: Inquire before buying
Global Wire Drawing Machines Market
Global Wire Drawing Machines Market, by Region
• North America
• South America
• Asia Pacific
Global Wire Drawing Machines Market Key Players
• Parovi Machines
• L.S. WIRE MACHINERY
• NIEHOFF GmbH & Co
• Amacoil, Inc.
• Micro Products Company
• Gilco, Inc.
• Rockford Manufacturing Group.
• KIESELSTEIN International GmbH.
• CHENG I DRAWING MACHINERY CO., LTD.
• JACOM Strategic allies
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