Press release
Cable Drum Market - The Ultimate Guide With Immense Development to Reach $767.5 Mn By 2026
The global cable drum market is witnessing substantial growth, driven by several key factors including advancements in the oil and gas industries, burgeoning opportunities in the construction sector, and an increasing demand for automation in process industries.Significant investments in the telecom sector and technologically enhanced infrastructure across Europe are major drivers of the market.The global cable drum market size was valued at $547.3 million in 2018, and is projected to reach $767.5 million by 2026, registering a CAGR of 4.1% from 2019 to 2026.
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The Market
The adoption of cable drums in Europe is on the rise due to growing demand for cables across various industry applications.In terms of material and type, the wood segment dominated in 2018, accounting for over half of the market share. This dominance is projected to continue through 2026, supported by global advancements in digital infrastructure.
Additionally, the plastic segment is anticipated to experience the fastest Compound Annual Growth Rate (CAGR) of 5.1% from 2019 to 2026, driven by telecommunications development in emerging economies such as China and India, leading to increased demand for plastic cable drums.Among market segments, the motorized segment led in 2018, capturing more than half of the global cable drum market share. This segment is expected to maintain its dominance with a rapid CAGR of 4.5% through 2026.
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Drivers of the Market:
The growth of motorized cable drums is significantly attributed to their advanced features, including three-phase motors for reel drive and high-quality helical springs.Geographically, Europe commanded the largest market revenue in 2018, accounting for two-fifths of the total. This region is expected to sustain its dominance due to increased investments in the telecom sector and advanced technological infrastructure.
Conversely, the Asia-Pacific region is projected to experience the fastest CAGR of 5.2% during the forecast period, driven by rising investments in industrial manufacturing and strong economic growth. The market report also analyzes other regions including North America and LAMEA.
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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.
Key Findings of the Study:
The report provides an extensive analysis of the current and emerging cable drum market trends and dynamics.
Depending on material, the wood segment dominated the cable drum market, in terms of revenue in 2018 and the plastic segment is projected to grow at a CAGR 5.1% during the forecast period.
By mechanism, the motorized segment led the cable drum market in 2018.
Asia-Pacific is projected to register the highest growth rate in the coming years.
Key market players within the cable drum market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the cable drum industry.
The report provides an extensive analysis of the cable drum market trends and its emerging opportunities.
In-depth cable drum market analysis is conducted by constructing estimations for key segments between 2018 and 2026.
The global cable drum market forecast analysis from 2019 to 2026 is included in the report.
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