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Industrial Cable Reels Market Segmented By Spring Loaded Industrial cable Reels, Motorized Industrial Cable Reels, Manual Industrial Cable Reels Product with Standard Industrial Cable Reels, Custom Made Industrial Cable Reels Design for Crane, Port, Industry, Manufacturing, Mining Equipment, Garages
The report covers comprehensive information about market trends, volume (units) and value (US$ Mn) projections, competition, market dynamics and recent developments in the Global Industrial cable reels Market for the study period 2018 to 2026.
The global industrial cable reels market is expected to reach a little over US$ 3,402.6 Mn by the end of the forecast period while registering a CAGR of 4.0% for the period between 2018 and 2026. Investments in public and private sector construction projects are primarily responsible for driving growth in the Industrial cable reels market. Also, the flourishing industrial sector, including manufacturing, mining, construction, utilities and oil and gas, is expected to push the growth of the Industrial cable reels market during the forecast period.
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Today, almost every sector -- from FMCG to manufacturing and consumer durables -- needs material handling equipment, in which cable reels are used. Government initiatives, such as ‘Make in India’, have made the country an export hub for many Asian countries. Growing population and migration of people to urban areas have led to an increase in demand for infrastructural facilities in cities.
Due to the support of the government in the form of loans, increase in FDI, investments and subsidies, construction of commercial spaces is expanding with every passing day. Consequently, a significant increase in urban infrastructural projects is being witnessed, which in turn, will spur the demand for cable reels in many Asian countries.
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Get a Customized VersionOn the basis of product type, industrial cable reels are of three types: spring loaded industrial cable reels, motorized industrial cable reels and manual industrial cable reels. Spring loaded industrial cable reels are expected to gain traction during the forecast period owing to its adoption in the manufacturing sector across the globe. However, in terms of volume, the manual Industrial cable reels will dominate the market of Industrial cable reels owing to growing demand from countries, such as China and India. The manual industrial cable reels segment is estimated to grow at a value CAGR of 4.1% during the forecast period.
Amongst all the types of cores analyzed in this global Industrial cable reels market study, the 4 core to 6 core industrial cable reels segment is expected to register about 1.5X growth in terms of value. Growing preference for 4 core to 6 core industrial cable reels, particularly for Industrial and Carne application, is expected to create new growth prospects for Industrial cable reels manufacturers across the globe.
In terms of incremental $ opportunity, the 4 core to 6 core industrial cable reels segment is expected to account for 52.2% of the total incremental $ opportunity created between 2018 and 2026.
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Growing manufacturing, import export and demand for cranes from the North America region are some of the factors expected to drive growth in demand for industrial cable reels in the region.
However, in terms of volume, Asia Pacific (SEAP, China and Japan) is estimated to account for nearly one-half of the total Industrial cable reels units sold across the globe by the end of 2018. The units sold in Asia Pacific are majorly less than 4 core Industrial cable reels and they are sold at a lower price than rest of the world and hence, the country lags behind in terms of value share.
Rising urbanization is leading to a flourishing construction industry and innovations in manufacturing sector. Regions including North America and Europe are expected to gain traction during the latter half of the forecast period owing to the anticipated replacement of stocks of industrial cable reels in these regions. With growing advancements in the manufacturing sector, Southeast Asia Pacific is also estimated to project higher growth opportunities during the forecast period.
In the recent past, the Industrial cable reels market has witnessed significant developments from a competition perspective. New product launches, collaborations and acquisitions are some of the preferred strategies opted by prominent players to expand and sustain in the global Industrial cable reels market.
Some of the prominent players covered in this market study on the global industrial cable reels market include DELACHAUX SA, Cavotec SA, STEMMANN-TECHNIK GmbH, Paul Vahle GmbH & Co. KG, United Equipment Accessories, Inc., Hubbell Incorporated, SCAME PARRE S.p.A., Nederman Holding AB, Eaton(cooper industries), Emerson Electric Co., Legrand SA, Schneider-Electric.
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