Spring into action: Rising industry demand will mitigate intense import competition

Operators in the Wire and Spring Manufacturing industry produce a wide range of fabricated metal products, including heavy and light gauge springs, wire rope, wire mesh and chain link fencing. Over the five years to 2018, intense competition from low-cost imports from countries such as China and Mexico has increasingly constrained industry performance. Furthermore, as the price of steel, the industry's key input, dropped over the past five years, operators were forced to slash their selling prices on produced goods, placing downward pressure on revenue. Over the five years to 2023, industry revenue is expected to rebound slightly as rising manufacturing and heavy industrial output drive up demand for spring components and other industry products...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23
Market Share of Companies

Industry Threats & Opportunities

  • External competition will increase, but downstream markets will bolster demand
  • Domestic operators have contended with intense import competition for years
  • A portion of rising downstream demand will be captured by low-cost imports
  • Industry Report - Industry Locations Chapter

    The location of establishments in the Wire and Spring Manufacturing industry is generally influenced by their proximity to key inputs and major downstream markets, such as the automotive manufacturing industry. Industry establishments also tend to be highly correlated with population density. Due to their proximity to major manufacturing industries and population centers, the Wire and Spring Manufacturing industry is most heavily concentrated in the Great Lakes, Southeast and Mid-Atlantic regions of the United States. These regions combined are expected to account for 59.5% of industry establishments in 2018.Great LakesThe Great Lakes region is expected to account for 29.4% of industry establishments in 2018. Thi...purchase to read more.

    Additional Insights for the Wire & Spring Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Wire & Spring Manufacturing Industry are

  • Upstream vertical integration (ownership links)
  • Effective cost control and economies of scale
  • Easy access for clients
  • IBISWorld analysts also discuss how external factors such as Industrial production index and Value of construction in the Wire & Spring Manufacturing industry impact industry performance..

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    What's in this report

    What is the Wire & Spring Manufacturing Industry?

    Operators in this industry manufacture heavy gauge and light gauge springs using steel and drawn wire, in addition to manufacturing other wire-based products such as wire rope, wire mesh and chain link fencing.

    Industry Products
  • Other fabricated wire products
  • Light gauge springs
  • Steel wire rope and cable
  • Nonferrous wire products
  • Steel nails, staples and similar products
  • Woven wire products
  • Heavy gauge springs
  • Industry Activities
  • Manufacturing light gauge springs made from purchased wire
  • Manufacturing heavy gauge springs from purchased rods
  • Manufacturing wire rope and mesh
  • Manufacturing chain link fences from purchased wire
  • Manufacturing other fabricated wire products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Industrial production index
  • Value of construction
  • World price of steel
  • Trade-weighted index

  • Current Performance
  • Key markets
  • Import penetration and trade assistance
  • Industry dynamics
  • Chart: Revenue Growth

  • Industry Outlook
  • Downstream market activity
  • International trade
  • Competitive pressures
  • Table: Wire & Spring Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Wire & Spring Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Bridge & Elevated Highway Construction
  • Concrete Contractors
  • Car & Automobile Manufacturing
  • Truck & Bus Manufacturing
  • Household Furniture Manufacturing
  • Mattress Manufacturing
  • Farm, Lawn & Garden Equipment Wholesaling
  • Home Improvement Stores
  • Department Stores

  • Key Selling Industries
  • Iron & Steel Manufacturing
  • Metal Stamping & Forging
  • Steel Rolling & Drawing

  • Products & Services
  • Light gauge springs
  • Nonferrous wire products
  • Other fabricated wire products
  • Heavy gauge springs
  • Steel wire rope and cable
  • Woven wire products
  • Steel nails, staples and similar products
  • Chart: Wire & Spring Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
  • Construction
  • Agriculture
  • Other

  • Major Markets
  • Construction
  • Transportation equipment manufacturing
  • Exports
  • Other
  • Upholstered furniture and mattress manufacturing
  • General manufacturing
  • Chart: Major Market Segmentation for the Wire & Spring Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchases Wage costsOther
  • Chart: Cost Structure Benchmarking – Sector vs Wire & Spring Manufacturing

  • Basis of Competition
  • External competition
  • Internal competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Wire & Spring Manufacturing Industry

  • Industry Globalization
    Leggett & Platt Inc.,
  • Table: Leggett & Platt Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Wire & Spring Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Wire & Spring Manufacturing Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • World price of steel (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Flat Spring
  • A simple type of spring made of a small, flat piece of metal. Flat springs are used in automotive applications, such as suspension systems. Flat springs are also called beam springs and leaf springs.
  • Helical Spring
  • A type of spring formed by winding strips of metal around a cylinder.
  • Leaf Spring
  • A type of spring made out of a flat strip or individual leaves. Most are steel, but some are made of lightweight composite materials.
  • Original Equipment Manufacturer (Oem)
  • A company that manufactures products or components that are purchased by a company and retailed under the purchasing company's brand name.
  • Torsion Bar
  • A part of an automotive suspension consisting of a bar that twists to maintain stability.
  • What Our Customers Say

    Why buy this report?

    The Wire & Spring Manufacturing industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Wire & Spring Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Wire & Spring Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Wire & Spring Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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