Market Overview:
The global piano wire market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for musical instruments, fishing lures, and springs across the globe. In addition, the growing movie industry is also contributing to the growth of this market. Stainless steel piano wire accounted for a major share of the global piano wire market in 2017 and is expected to maintain its dominance during the forecast period as well. High-carbon steel piano wire is also anticipated to witness high demand due to its properties such as durability and strength.
Product Definition:
Piano wire is a type of metal wire used to make musical instruments, specifically pianos. It is made of high-quality steel and has a very consistent diameter. Piano wire is important because it produces a clear, sustained tone when struck, making it perfect for use in musical instruments.
Stainless Steel:
Stainless steel is a type of alloy which consists of iron, chromium, nickel and titanium. The different types of stainless steels are used in industries including building & construction, automotive and marine. It has the highest strength-to-weight ratio making it ideal for use in applications involving high stress such as structural members in buildings or bridges; automobile components such as fasteners or valves; shipbuilding parts such as propeller shafts or engine mounts; etc.
High-carbon Steel:
High-carbon steel is a type of steel that contains carbon in greater proportion than low-carbon and high yield strength. It is used to make wire for electric fences, rebar, knife blades, scissors, kitchen knives (butterfly knives), axles & wheels and springs. The higher carbon content makes the product stronger but also increases the cost making it expensive as compared to Low-Carbon Steel.
Application Insights:
The springs application segment led the global piano wire market in 2017. This is attributed to its extensive use in the manufacturing of office chairs, bed frames, sofa sets and other furniture items. The demand for these wires is expected to increase as a result of their increasing use in the production of home appliances including washing machines, tumble dryers and dishwashers.
The musical instrument segment accounted for a significant share on account of rising demand from guitar manufacturers who are increasingly using steel strings for producing high-quality sound output products. Steel strings produce clearer tone when compared with nylon or polyester strings as they have higher resistance towards vibration which results in better sound quality when played on acoustic guitars or electric guitars respectively.
Regional Analysis:
North America dominated the global piano wire market in terms of revenue with a share of over 40.0% in 2017. This is attributed to the presence of several manufacturers and players operating within the region, along with high disposable income and consumer preference for musical instruments such as pianos among others. The U.S.
Growth Factors:
- Increasing demand from the automotive and aerospace industries for piano wire as a critical component in manufacturing high-performance products.
- Growing popularity of DIY projects and home improvement initiatives, which has led to an increase in the use of piano wire for various crafts and applications.
- Rising demand from the medical industry for use in surgical implants, sutures, and other medical devices.
- Technological advancements that have led to the development of new applications for piano wire in areas such as robotics and energy production.
Scope Of The Report
Report Attributes
Report Details
Report Title
Piano Wire Market Research Report
By Type
Stainless Steel, High-carbon Steel, Others
By Application
Springs, Musical Instruments, Fishing Lures, Movie Industry, Others
By Companies
Precision Brand Products, Mount Joy Wire, Howard Piano Industries, K&S Precision Metals, Wurtec, Optimum Spring, Gibbs Wire & Steel, Inc., Mapes Wire
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
138
Number of Tables & Figures
97
Customization Available
Yes, the report can be customized as per your need.
Global Piano Wire Market Report Segments:
The global Piano Wire market is segmented on the basis of:
Types
Stainless Steel, High-carbon Steel, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Springs, Musical Instruments, Fishing Lures, Movie Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Precision Brand Products
- Mount Joy Wire
- Howard Piano Industries
- K&S Precision Metals
- Wurtec
- Optimum Spring
- Gibbs Wire & Steel, Inc.
- Mapes Wire
Highlights of The Piano Wire Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Stainless Steel
- High-carbon Steel
- Others
- By Application:
- Springs
- Musical Instruments
- Fishing Lures
- Movie Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Piano Wire Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Piano wire is a metal wire that is used to create musical instruments. It can be found in the form of strings, rods, or wires. Piano wire is often used in acoustic and electric guitars because it has a high resistance to corrosion and offers good sound quality.
Some of the major players in the piano wire market are Precision Brand Products, Mount Joy Wire, Howard Piano Industries, K&S Precision Metals, Wurtec, Optimum Spring, Gibbs Wire & Steel, Inc., Mapes Wire.
The piano wire market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Piano Wire Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Piano Wire Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Piano Wire Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Piano Wire Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Piano Wire Market Size & Forecast, 2018-2028
4.5.1 Piano Wire Market Size and Y-o-Y Growth
4.5.2 Piano Wire Market Absolute $ Opportunity
Chapter 5 Global Piano Wire Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Piano Wire Market Size Forecast by Type
5.2.1 Stainless Steel
5.2.2 High-carbon Steel
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Piano Wire Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Piano Wire Market Size Forecast by Applications
6.2.1 Springs
6.2.2 Musical Instruments
6.2.3 Fishing Lures
6.2.4 Movie Industry
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Piano Wire Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Piano Wire Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Piano Wire Analysis and Forecast
9.1 Introduction
9.2 North America Piano Wire Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Piano Wire Market Size Forecast by Type
9.6.1 Stainless Steel
9.6.2 High-carbon Steel
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Piano Wire Market Size Forecast by Applications
9.10.1 Springs
9.10.2 Musical Instruments
9.10.3 Fishing Lures
9.10.4 Movie Industry
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Piano Wire Analysis and Forecast
10.1 Introduction
10.2 Europe Piano Wire Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Piano Wire Market Size Forecast by Type
10.6.1 Stainless Steel
10.6.2 High-carbon Steel
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Piano Wire Market Size Forecast by Applications
10.10.1 Springs
10.10.2 Musical Instruments
10.10.3 Fishing Lures
10.10.4 Movie Industry
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Piano Wire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Piano Wire Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Piano Wire Market Size Forecast by Type
11.6.1 Stainless Steel
11.6.2 High-carbon Steel
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Piano Wire Market Size Forecast by Applications
11.10.1 Springs
11.10.2 Musical Instruments
11.10.3 Fishing Lures
11.10.4 Movie Industry
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Piano Wire Analysis and Forecast
12.1 Introduction
12.2 Latin America Piano Wire Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Piano Wire Market Size Forecast by Type
12.6.1 Stainless Steel
12.6.2 High-carbon Steel
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Piano Wire Market Size Forecast by Applications
12.10.1 Springs
12.10.2 Musical Instruments
12.10.3 Fishing Lures
12.10.4 Movie Industry
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Piano Wire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Piano Wire Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Piano Wire Market Size Forecast by Type
13.6.1 Stainless Steel
13.6.2 High-carbon Steel
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Piano Wire Market Size Forecast by Applications
13.10.1 Springs
13.10.2 Musical Instruments
13.10.3 Fishing Lures
13.10.4 Movie Industry
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Piano Wire Market: Competitive Dashboard
14.2 Global Piano Wire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Precision Brand Products
14.3.2 Mount Joy Wire
14.3.3 Howard Piano Industries
14.3.4 K&S Precision Metals
14.3.5 Wurtec
14.3.6 Optimum Spring
14.3.7 Gibbs Wire & Steel, Inc.
14.3.8 Mapes Wire
