$478.4 Billion Worldwide Spring and Wire Products Industry to 2027 - Impact of COVID-19 on the Market

DUBLIN, Nov. 27, 2020 /PRNewswire/ -- The "Spring And Wire Products - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The publisher brings years of research experience to the 6th edition of this report. The 179-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Spring and Wire Products Market to Reach US $600.1 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Spring and Wire Products estimated at US$478.4 Billion in the year 2020, is projected to reach a revised size of US $600.1 Billion by 2027, growing at a CAGR of 3.3% over the period 2020-2027.

Spring Manufacturing, one of the segments analyzed in the report, is projected to grow at a 3.6% CAGR to reach US $319.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Other Fabricated Wire Product Manufacturing segment is readjusted to a revised 2.9% CAGR for the next 7-year period. This segment currently accounts for a 47.8% share of the global Spring and Wire Products market.

The U.S. Accounts for Over 28.9% of Global Market Size in 2020, While China is Forecast to Grow at a 5.4% CAGR for the Period of 2020-2027

The Spring and Wire Products market in the U.S. is estimated at US$138.2 Billion in the year 2020. The country currently accounts for a 28.89% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$101.1 Billion in the year 2027 trailing a CAGR of 5.4% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach US$101.1 Billion by the year 2027.

Competitors identified in this market include, among others:

• All-Rite Spring Company
• Bridon International Ltd.
• National Springs & Wire Products (NZ) Ltd.
• Siddall & Hilton Products Ltd.
• Wire Products Company

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of Covid-19 and a Looming Global Recession
• Global Competitor Market Shares
• Spring And Wire Products Competitor Market Share Scenario Worldwide (in %): 2018E

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 44

For more information about this report visit https://www.researchandmarkets.com/r/wn7maj

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SOURCE Research and Markets