Learn about the global spring and wire products market through The Business Research Company, which provides information on spring and wire products market size, spring and wire products market drivers and restraints, spring and wire products market players, the COVID-19 impact on the spring and wire products market, and more.

The global spring and wire products market is expected to grow from $56.81 billion in 2020 to $68.17 billion in 2021 at a compound annual growth rate (CAGR) of 20%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $90.96 billion in 2025 at a CAGR of 7%.

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The spring and wire products market consists of 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).

Global Spring And Wire Products Market Segments Include:

By Type: Springs, Other Fabricated Wire Products
By End User Industry: Automotive, Aerospace, Medical & Healthcare, Commercial and Industrial, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global spring and wire products market, accounting for 32% of the market in 2020.

The usage of Wafios FMU 25 CNC spring and wire forming machine is increasing in this market due to its efficient production process and higher output producing capabilities. Wafios FMU 25 CNC is a high quality machine that requires low maintenance and is capable of producing wires of very complex bends and ends. The machine has been pre-configured such that very less data has to be entered during the programming thereby speeding up the process.

TBRC’s spring and wire products market report covers:

Major Market Players: All-Rite Spring Company, Bridon International Ltd, National Spring, Siddal & Hilton Products Ltd, Wire Products Company.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK,
USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Spring And Wire Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides spring and wire products market overviews, analyses and forecasts market size, share, spring and wire products market players, spring and wire products market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s spring and wire products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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