Spring and Wire Product Manufacturing in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: July 2023
ANZSIC C2291Revenue
$1.5bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
2,971
Businesses
292
Wages
$XXX.Xm
Spring and Wire Product Manufacturing in Australia industry analysis
The Spring and Wire Product Manufacturing industry experiences challenging operating conditions. Industry manufacturers produce various products that have a range of key customers from different sectors of the economy. However, demand conditions in several key markets have been weak over the past few years, which has cut into revenue performance. Demand from agriculture and mining firms has been growing, supported by climbing annual rainfall and rising capital expenditure on mining, respectively. While these positive trends have placed upwards pressure on revenue, falling demand from the Construction and Manufacturing divisions has caused performance to take a hit. Construction firms use spring and wire products for buildings, while manufacturing companies use wire and spring products as inputs to produce their own goods. Overall, revenue is expected to fall at an annualised 1.8% to $1.5 billion over the five years through 2023-24. This trend incudes an anticipated drop of 6.0% in the current year, as import penetration continues to cut into domestic manufacturers' performance.The industry is highly exposed to import competition, and this trend is on track to continue in the coming years. Manufacturers in nearby Asian countries, like China, have lower wage and operating costs. These lower costs mean that they can charge cheaper prices for standardised spring and wire products compared with Australian manufacturers. Resulting price competition makes it difficult for domestic manufacturers to remain viable, and many have been forced to exit the industry or lower their prices. As import penetration keeps climbing, more manufacturers are set to focus on selling specialised goods to niche markets at higher prices. However, falling demand from mining firms and further drops in manufacturing activity will likely cause revenue to decline. Revenue is forecast to slide at an annualised 0.7% to $1.4 billion over the five years through 2028-29, as demand conditions worsen and import penetration weighs on Australian spring and wire product manufacturers.
Trends and Insights
- High import penetration challenges Australian spring and wire product manufacturers. Overseas manufactures can bring down prices because of lower wage and operational costs, which makes it difficult for domestic firms to compete.
- Agricultural firms have been demanding more wire fencing products. These products include steel fencing, gates and fencing wire, and greater agricultural activity has encouraged this product segment to grow as a share of revenue.
- Spring and wire product manufacturers tend to be distributed according to Australia’s population spread. Since New South Wales, Victoria and Queensland have high populations and economic activity, they attract more manufacturers.
- Spring and wire product manufacturers compete with one another on price, product quality, innovation and customer service. Since low-cost imports make price competition difficult, manufacturers have been improving their product and service quality.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 1.8 % over the past five years, to reach an estimated $1.5bn in 2023.
Trends and Insights
Demand from key downstream markets has been weak
- Spring and wire product manufacturers produce diverse products that many different downstream markets use.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Revenue is set to fall as weak demand continues
- Construction activity is on track to recover in the coming years, as investment conditions improve for non-residential and apartment construction. This trend, alongside continued growth in the agriculture sector, is set to limit falls in revenue.
Biggest companies in the Spring and Wire Product Manufacturing in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
InfraBuild | 608.6 | |
Bekaert Wire Ropes Pty Ltd | 74.0 | |
National Industries Pty Ltd | 59.2 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Wire fencing products, Nails and other fasteners and Springs. Wire fencing products is the largest segment of the Spring and Wire Product Manufacturing in Australia.
Trends and Insights
Positive demand conditions have elevated revenue from wire fencing products
- The wire fencing product segment includes steel fencing, fence gates, fencing wire, netting and barbed wire products that are used extensively across the construction and agriculture sectors. It also includes electric fencing systems and agricultural fences.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Electric Cable and Wire Manufacturing in Australia
Complementors
- Iron Smelting and Steel Manufacturing in Australia
- Fabricated Metal Product Manufacturing in Australia
- Hardware Wholesaling in Australia
International industries
- Wire & Spring Manufacturing in the US
- Wire & Spring Manufacturing in Canada
- Chain, Spring & Wire Product Manufacturing in the UK
- Chain, Spring & Wire Product Manufacturing in Germany
Table of Contents
About this industry
Industry definition
Industry firms primarily manufacture wire or wire products, cable, wire netting, nails and rolled steel fence posts.
What's included in this industry?
Wire fencing productsSpringsNails and other fastenersWoven wire, wire cloth, wire rope and strandsConveyor beltsMetal basketsCompanies
InfraBuildBekaert Wire Ropes Pty LtdNational Industries Pty LtdPurchase this report to view all 4 major companies in this industry.
Related Terms
COMPRESSION SPRINGTORSION BARSLEAF SPRINGPOST-TENSIONINGIndustry Code
ANZSIC 2291 - Spring and Wire Product Manufacturing in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
High import penetration challenges Australian spring and wire product manufacturers. Overseas manufactures can bring down prices because of lower wage and operational costs, ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Agricultural firms have been demanding more wire fencing products. These products include steel fencing, gates and fencing wire, and greater agricultural activity has encoura...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Spring and wire product manufacturers tend to be distributed according to Australia’s population spread. Since New South Wales, Victoria and Queensland have high populations ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Spring and wire product manufacturers compete with one another on price, product quality, innovation and customer service. Since low-cost imports make price competition diffi...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Liberty InfraBuild Limited is the dominant player in the Spring and Wire Product Manufacturing industry. The company has recently pursued refinancing in order to fund its acq...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of InfraBuild's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Bekaert Wire Ropes Pty Ltd's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of National Industries Pty Ltd's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for InfraBuild, and factors influencing its performance in the industry
- Description and key data for Bekaert Wire Ropes Pty Ltd, and factors influencing its performance in the industry
- Description and key data for National Industries Pty Ltd, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Australian Standards apply for spring and wire products that the industry manufacturers. Some International Organization for Standardization guidelines also apply.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Spring and wire product manufacturers have been pivoting their focus to specialised products. Since they can charge higher prices for these products, profit margins have lift...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Spring and Wire Product Manufacturing industry in Australia in 2024?
The market size of the Spring and Wire Product Manufacturing industry in Australia is $1.5bn in 2024.
How many businesses are there in the Spring and Wire Product Manufacturing in Australia industry in 2023?
There are 292 businesses in the Spring and Wire Product Manufacturing industry in Australia, which has declined at a CAGR of 2.8 % between 2018 and 2023.
Has the Spring and Wire Product Manufacturing industry in Australia grown or declined over the past 5 years?
The market size of the Spring and Wire Product Manufacturing industry in Australia has been declining at a CAGR of 1.8 % between 2018 and 2023.
What is the forecast growth of the Spring and Wire Product Manufacturing industry in Australia over the next 5 years?
Over the next five years, the Spring and Wire Product Manufacturing industry in Australia is expected to decline.
What are the biggest companies in the Spring and Wire Product Manufacturing market in Australia?
The biggest companies operating in the Spring and Wire Product Manufacturing market in Australia are InfraBuild, Bekaert Wire Ropes Pty Ltd and National Industries Pty Ltd
What does the Spring and Wire Product Manufacturing in Australia include?
Wire fencing products and Springs are part of the Spring and Wire Product Manufacturing industry.
Which companies have the highest market share in the Spring and Wire Product Manufacturing in Australia?
The company holding the most market share in Australia is InfraBuild.
How competitive is the Spring and Wire Product Manufacturing industry in Australia?
The level of competition is moderate and increasing in the Spring and Wire Product Manufacturing industry in Australia.
