The global spring and wire product market is expected to decline from $71.8 billion in 2019 to $65.2 billion in 2020 at a compound annual growth rate (CAGR) of -9.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 14% from 2021 and reach $93.2 billion in 2023.
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The spring and wire product market consists of the sales of spring and wire products by entities (organizations, sole traders or partnerships) that produce steel springs by forming, such as cutting, bending, and heat winding, metal rod or strip stock and/or produce wire springs and fabricated wire products from wire drawn elsewhere (except watch and clock springs).
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The spring and wire market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the spring and wire market are All-Rite Spring Company, Bridon International Ltd, National Spring, Siddal & Hilton Products Ltd, Wire Products Company
The Global Spring And Wire Product Market is segmented:
1) By Type: Spring, Other Fabricated Wire Product
2) By End User Industry: Automotive, Aerospace, Medical & Healthcare, Commerical and Industrial, Others
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The spring and wire market report describes and explains the global spring and wire market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The spring and wire report evaluates the market across each region and for the major economies within each region.
The countries covered in the global spring and wire market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global spring and wire market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Spring And Wire Market Characteristics
- Spring And Wire Market Product Analysis
- Spring And Wire Market Supply Chain
- Key Mergers And Acquisitions In The Spring And Wire Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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