Oil Tempered Spring Steel Wire Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

Oil Tempered Spring Steel Wire, estimated at USD 1.3 billion in 2021, is expected to reach a revised size of USD 1.5 billion by 2028, growing at a CAGR of 2% during the analysis period 2022-2028. Steel wires are made from various iron alloys, the main element of which is carbon, with minor amounts of chromium, phosphorus, manganese, sulfur and nickel. Steel wires have different degrees of machinability, strength and malleability, depending on their composition and manufacturing technique. Steel wire springs have excellent mechanical properties because they can withstand significant bending or torsional moments and bounce back to their original position without distortion. By reducing brittleness, the oil quenching process serves to strengthen and harden the metal wire. Oil-quenched steel wire is a heat-treated cold-drawn wire that can withstand high pressure while remaining flexible.

 

Company Profile

• Sumitomo (SEI)
• Jiangsu Shenwang
• Jiangsu Jinji
• American Spring Wire
• Tianjin Kay Jill
• Suncall
• Hunan Shuangwei
• Tianjin Dihua
• PENGG AUSTRIA
• Nanjing Soochow
• Shinko Wire
• Shougang Special Steel

 

Market Segmentation

By Type:

• High Fatigue Wire
• Medium Fatigue Wire

By Application:

• Valve Spring
• Suspension Spring

 

 

Scope of the Report

The research study analyzes the Oil Tempered Spring Steel Wire Market industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

 

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

 

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

 

Key Questions Answered by Oil Tempered Spring Steel Wire Market Report

 

1. What was the Oil Tempered Spring Steel Wire Market size in 2020 and 2021; what are the estimated growth trends and market forecast (2022-2028).
2. What will be the CAGR of Oil Tempered Spring Steel Wire Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Oil Tempered Spring Steel Wire Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.