Overview and Scope
Industrial cable reels refer to tools designed for the organization, storage, and deployment of long, heavy-duty cables in industrial settings. They help ensure efficient cable handling, avoid tangling, and protect cables from wear and damage. These cable reels are crucial for maintaining cable integrity and efficiency in demanding industrial environments.
Sizing and Forecast
The industrial cable reels market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increased adoption in the healthcare sector, growth in urbanization and the development of smart cities, improved customer support services, increased investments in research and developments, the expansion of telecommunications networks, and smart factory development.
The industrial cable reels market size is expected to see strong growth in the next few years. It will grow to $2.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to the development of educational and training programs, rising demand for cable reels in the renewable energy sector, focus on developing cost-effective cable reels, increasing energy consumption required efficient distribution systems, and growth in port and maritime operations. Major trends in the forecast period include industry focus on sustainability initiatives, the introduction of hybrid cable reel systems that combine manual and motor-driven mechanisms, adoption in the aerospace sector, integration of energy storage solutions, and customization and modular solutions.
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Segmentation & Regional Insights
The industrial cable reels market covered in this report is segmented –
1) By Type: Spring Driven, Motor Driven, Manual
2) By Mount Type: Wall Mounted, Ceiling Or Floor Mounted, Bench Mounted
3) By Application: General Industry, Ports and Terminals, Mining and Tunneling, Steel Mills and Aluminum Plants, Construction, Energy, Other Applications
Asia-Pacific was the largest region in the industrial cable reels market in 2023. The regions covered in the industrial cable reels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing focus on workplace safety is expected to propel the growth of the industrial cable reels market going forward. Workplace safety refers to creating a secure environment by addressing potential risks such as cluttered walkways, uneven surfaces, and loose cables. There is an increasing demand for workplace safety due to several factors, including a growing emphasis on corporate social responsibility, technological innovations, and favorable regulatory compliance. Industrial cable reels enhance workplace safety and reduce tripping hazards by keeping cables organized and off the floor, preventing loose cables from creating obstacles, and maintaining a tidy workspace. For instance, according to the Workplace Safety and Health Report 2021 released by the Ministry of Manpower, a Singapore-based government agency, the number of workplace injuries increased from 11,350 in 2020 to 12,766 in 2021. Therefore, the increasing focus on workplace safety and reducing tripping hazards is driving the growth of the industrial cable reels market.
Key Industry Players
Major companies operating in the industrial cable reels market are Schneider Electric SE, Eaton Corporation plc, TE Connectivity, Emerson Electric Co., Marmon Holdings Inc., Southwire Company LLC, Hubbell Incorporated, Atkore , Tsubakimoto Chain Co., Nederman Holding AB, Conductix-Wampfler GmbH, Cavotec SA, BICC Cables, Reelcraft Industries, Coxreels, Arnold Fire Equipment, Power and Rubber, DEMAC, Hannay Reels Inc., United Equipment Accessories Inc., Schill GmbH & Co. KG, United Universal Industries Inc., Duro Manufacturing LLC, Reel Power Industrial, Paul Vahle GmbH & Co. KG
The industrial cable reels market report table of contents includes:
1. Executive Summary
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