Elevator Ropes Market is Forecasted to Reach US$ 706 million in 2027, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global Elevator Ropes Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2027: US$ 706 million

Growth (CAGR): 5.0% during 2022-2027

Leading Application Type: Hoist

Leading Core Type: Fiber core ropes

Leading Region: Asia-Pacific

Forecast Period: 2022-2027

Trend Period: 2016-2020

Base Year: 2021

Number of Segments Covered: 3

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Elevator Ropes Market:

The global Elevator Ropes Market is segmented based on Application type, Core type, and region.

Based on Application Type

"The hoist segment dominate the market during the forecast period".

• The market is bifurcated into the hoist, compensating rope, governor, and control (door closing rope).
• Among these application types, hoist dominates the market. The hoist is made of high-strength material as it is attached to the elevator cab and counterweights. Growing population and rapid urbanization have increased the demand for low- to medium-rise buildings, making hoists the dominant application over the forecast period.

Based on Core Type

"Fiber core ropes hold a larger share of the market and are also expected to witness higher growth during the forecast period".

• The market is segmented into fiber core and independent wire rope core.
• Fiber core offers greater flexibility and durability than independent wire rope core. Increasing demand for low to medium-rise buildings is likely to act as the major growth driver for the segment.

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Which region shows the most promising growth forecast and opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for elevator ropes during the forecast period. This growth outlook is mainly attributed to the following:

• The region is likely to witness the highest growth in the coming years. Developing economies, such as China and India, are experiencing substantial growth in construction activities, which, in turn, is acting as the growth driver for the elevator ropes market.
• North America and Europe are also likely to offer healthy growth opportunities over the forecast period.

Elevator Ropes Market Drivers:

Some of the key drivers listed in the report are given below.

Urbanization and Infrastructure Development

Elevator ropes are critical in construction, with demand rising due to global urbanization and infrastructure growth. Increasing urban density drives vertical expansion in residential buildings, necessitating reliable elevator ropes. Industrial growth further boosts demand for ropes as manufacturing plants require elevators to transport materials across multi-story facilities.

Growing No. of High-Rise Buildings and Skyscrapers

With the growing no. of high-rise buildings and skyscrapers globally, the need for reliable and high-speed elevator systems is also increasing. For instance, according to TheTowerInfo, as of 2025, there are 17 supertall skyscrapers taller than 300 m in New York, and this no. is predicted to reach close to 30 supertall buildings by the end of 2030. Thus, increasing no. of high-rise buildings not just in New York, but across the globe, fosters the demand for high-quality ropes in elevators to ensure safe and smooth operations.

Competitive Landscape: Top 10 Companies in the Elevator Ropes Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

·      Alps Wire Rope Corporation

·      Bridon-Bekaert (The Ropes Group)

·      BRUGG Lifting AG

·      Gustav Wolf GmbH

·      Jiangsu Safety Steel Wire Rope Co., Ltd.

·      KISWIRE LTD.

·      Loos & Co. Inc.

·      PFEIFER DRAKO Drahtseilwerk GmbH

·      Santini Funi Srl

·      Usha Martin

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the data center liquid cooling market, answering critical questions like

-       How big is the sales opportunity?

-       Which regions offer the best sales opportunities?

-       Which are the most attractive market segments?

-       Which are the top players and their market positioning?

-       How complex is the business environment?

-       What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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