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Elevator Ropes Market Size, Share Global Analysis Report, 2020–2026

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Elevator Ropes Market By Core Type [Fiber Core (FC) and Independent Wire Rope Core (IWRC)], By Functionality (Traction/Hoist, Governor, and Compensation), By Elevator Type [Machine Room (MR) Elevator, Machine Room Less (MRL) Elevator, and Hydraulic Elevator], And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026

Industry Insights

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the global elevator ropes industry. The report analyzes and declares the historical and current trends analysis of the global elevator ropes industry and subsequently recommends the projected trends anticipated to be observed in the global elevator ropes market during the upcoming years.

Global Elevator Ropes Market Size

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The global elevator ropes market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire global elevator ropes market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Million) from FY 2016 – 2026.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the global elevator ropes industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the global elevator ropes industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the global elevator ropes market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the global elevator ropes industry. The global elevator ropes market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the global elevator ropes sector. Key strategic developments in the global elevator ropes market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the global elevator ropes market are appropriately highlighted in the report.

Elevator rope is a thick set of metal-based wires twisted to form a helical shape string. The rope assists an elevator cab to move to and fro throughout the elevator shaft. Elevator ropes are mainly composed of long wires, cores, and strands. The demand for elevator ropes across the globe is mounting due to the growing number of smart city projects and constantly rising population count. Thus, to meet the requirements for a growing population, various governments have been approving the vertical establishment of residential and commercial sectors from the past few years. For instance, the building and construction sector in the Asia Pacific region is growing splendidly, which in turn flourishes the elevator market in that particular region.

The global elevator ropes market research report delivers an acute valuation and taxonomy of the global elevator ropes industry by practically splitting the market on the basis of different core types, functionalities, elevator types, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

logoReport Scope

Report Attribute


Market Size in 2019

USD 600 Million

Projected Market Size in 2026

USD 800 Million

CAGR Growth Rate

3.5% CAGR

Base Year


Forecast Years


Key Market Players

Mak Kee International H.K. Limited, Gustav Wolf GmbH, Tokyo Rope Mfg. Co. Ltd., Bekaert, Usha Martin, WireCo WorldGroup, Loos & Co. Inc., BRUGG Lifting AG, KISWIRE LTD, Bharat Wire Ropes Limited, and Alps Wire Rope Corporation, and Others

Key Segment

By Core, Functionality, Elevator, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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The regional segmentation of the global elevator ropes industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the global elevator ropes industry is provided for the leading economies of the world.

The global elevator ropes market is segmented based on the core type, functionality, elevator type, and region. The core type segment categorizes the global market into fiber core (FC) and independent wire rope core (IWRC). Functionality-wise, the global industry is bifurcated into traction/hoist, governor, and compensation. By elevator type, the global market is sectored into machine room (MR) elevator, machine room-less (MRL) elevator, and hydraulic elevator.

logoSome of the essential players operating in the global elevator ropes market, but not restricted to include

  • Mak Kee International H.K. Limited
  • Gustav Wolf GmbH
  • Tokyo Rope Mfg. Co. Ltd.
  • Bekaert
  • Usha Martin
  • WireCo WorldGroup
  • Loos & Co. Inc.
  • BRUGG Lifting AG
  • Bharat Wire Ropes Limited
  • Alps Wire Rope Corporation
  • among others.

The taxonomy of the global elevator ropes industry by its scope and segmentation is as follows:

logo Core Type Segmentation Analysis

  • Fiber core (FC)
  • Independent wire rope core (IWRC)

logo Functionality Segmentation Analysis

  • Traction/Hoist
  • Governor
  • Compensation

logo Elevator Type Segmentation Analysis

  • Machine room (MR) elevator
  • Machine room-less (MRL) elevator
  • Hydraulic elevator

logo Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Industry Major Market Players

  •  Mak Kee International H.K. Limited
  •  Gustav Wolf GmbH
  •  Tokyo Rope Mfg. Co. Ltd.
  •  Bekaert
  •  Usha Martin
  •  WireCo WorldGroup
  •  Loos & Co. Inc.
  •  BRUGG Lifting AG
  •  Bharat Wire Ropes Limited
  •  Alps Wire Rope Corporation