Press release
Increasing Safety Of Residential And Commercial Areas Is Expected To Create Demand For Industrial Cable Reels Market
Industrial Cable Reels Market: OverviewThe worldwide industrial cable reels market is expected to rise steadily with the increasing adoption of factory automation over the upcoming years.
According to the recent market research report by Fact.MR the industrial cable reels manufacturers are updating their latest product features to increase sales. Industrial cable reels manufacturer companies are currently focusing on safety as a major concern,
For instance, Eaton company has launched its latest product in the market, W19L C03070. Eaton Crouse-Hinds series Cable-Gard W series lifting/stretching reel, with 3 conductors, and Weathertight, 600 Vac, #12 AWG.
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Grounding portable machines and equipment in hazardous environments, such as fuel transfer trucks, grain elevators, dockside loading facilities, and barges, is done with static discharge reels.
Global Industrial Cable Reels: Market Segmentation
On the basis of product type, the global industrial cable reels market has been segmented as:
Automatic Industrial Cable Reels
Semi-automatic Industrial Cable Reels
On the basis of mount type, the global industrial cable reels market has been segmented as:
Wall Mounted
Ceiling/Floor Mounted
Bench Mounted
On the basis of application, the global industrial cable reels market has been segmented as:
Fire Trucks
Food & Beverages
Construction
Mining
Waste Water Treatment
Power Distribution
Others
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Competitive Landscape
Examples of some of the market participants in the global industrial cable reels market identified across the value chain include:
Molex, LLC
Nederman Holding AB
Hannay Reels Inc.
Zeca S.p.A.
Eaton
United Equipment Accessories, Inc.
Reelcraft Industries
Coxreels
Topring
Global Industrial Cable Reels Market: Regional Overview
During the forecast period, Asia Pacific (China, India, and South East Asia Pacific) is expected to hold a greater share of the market, owing to the increasing consumption of cables and wires in various end-use industries such as building and construction, etc.
Also, China, being a manufacturing hub, and China and India being among the emerging countries, are stipulated to witness robust growth in the market, owing to increased construction activities as well as the increased demand for energy.
North America is anticipated to register significant growth after Asia Pacific as a result of the region’s inclination towards industrial workplace safety.
Increasing import and export of oil and gas in the Middle East and Africa, coupled with growing awareness of waste water management, is stipulated to increase the trade of industrial cable reels in the coming years.
Industrial Cable Reels Market: Drivers and Challenges
Industrial cable reels are reliable, sturdy, corrosion resistive, and easy to install and maintain.
They are designed to enhance safety at warehouses, manufacturing facilities, and in other applications.
These characteristics and benefits are the key market drivers for the industrial cable reels market.
Cables are needed in all industries for lifting cranes, moving equipment, and supplying power or fluid.
Among the industrial cable reel product types, automatic industrial cable reels are expected to be more in demand as compared to the semi-automatic type, as they are easy to operate and have a wider array of applications.
Moreover, the aftersales and services of the cable industry has a great potential to create opportunities for the industrial cable reels market over the projected period, thereby contributing towards the growth of the market.
Increasing safety of residential and commercial areas is expected to create demand for fire safety equipment and trucks, which, in turn, is expected to increase the demand for industrial cable reels over the forecast period.
Further, according to NEMA (National Electrical Manufacturers Association), the electrical safety committee has established certain standards under NEMA-3 and NEMA-4, which mandates the adoption of industrial cable reels in industrial applications. This will have a direct effect on the demand for industrial cable reels.
However, the high initial cost is expected to challenge their adoption in small to medium manufacturing sectors.
This, in turn, is expected to hamper the growth of the global industrial cable reels market to some extent.
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