Press release
Cable Drum Market Evolving Technology and Growth Outlook Hits $767.5 million by 2026
Cable Drum Market
According to the report, the global cable drum industry was estimated at $547.3 million in 2018 and is expected to hit $767.5 million by 2026, registering a CAGR of 4.1% from 2019 to 2026.
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Driving Factors:
Asia-Pacific is expected to be the leading contributor in the global cable drum market, followed by LAMEA, North America, and Europe.
By material, the wood segment accounted for the highest market share in 2018 and the plastic segment is expected to witness a significant growth during the forecast period, owing to its installation in the power industry. There is an increase in adoption of cable drums in Asia-Pacific countries due to rise in investments on industrial manufacturing to strengthen economic growth.
China is the world's largest producer of electric wires and cables. It is also among the world's leading consumers of electric cables, which drives the market growth.
Rise in investments in the telecom sector and technologically enhanced infrastructure across Europe majorly drives the market. There has been a growing adoption of cable drums in Europe due to rise in potential demand for cables for various industry applications.
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In terms of mechanism, the motorized segment secured the highest share in the cable drum market in 2018 and the manual segment is expected to witness growth at a CAGR of 3.7%, during the forecast period, due to increase in emphasis on infrastructure and other industrial sectors.
The major players in the cable drum market, such as Hildebrandt Group, Schill GmbH & Co. Kg., Cable Equipment, and Conductix-Wampfler offer innovative cable drums to strengthen their presence in the cable drum market to sustain the intense competition.
Top Players:
The key players profiled in the report include Hildebrandt Group, Schill GmbH & Co. Kg., as - Schwabe GmbH, Cable Equipment, Conductix-Wampfler, Coxreels, Nicoletti, Bryant Unlimited, Hannay Reels, and Svenssongroup.
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