Press release
The Power Cord Reels Market Revenue to Hit $2.25 Billion by 2029 - the Offline Sales Channel to Remain Dominant - Arizton
Power Cord Reels Market Report by Arizton
According to the latest research report titled, the power cord reels market 2024-2029 [https://www.arizton.com/market-reports/cord-reels-market] by Arizton Advisory & Intelligence, the market will grow at a CAGR of 2.25% during 2023-2029.
Curious to Learn more about the report? Click: [https://www.arizton.com/market-reports/cord-reels-market]
Report Summary:
Market Size (2029): USD 2.25 Billion
Market Size (2029): USD 1.65 Billion
CAGR (2023-2029): 5.37%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Reel Type, Reel Length, End-User, Commercial, Industrial, Public & Recreational, Distribution Channel, and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
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The presence of leading brands in the power cord reels industry has resulted in substantial global exports, with major exporters such as the US, South Korea, Germany, and Japan dominating the market. Industrialized countries in Europe and North America, such as Germany, France, the UK, the US, and Canada, are driving the demand for various electric tool products. These nations aim to boost the productivity of their manufacturing operations by using high-performance, value-added equipment. As these tools often require power sockets that may not be readily available, power cord reels are essential, thereby supporting the growth of the power cord reels market.
Market Opportunities & Trends
Logistics companies strengthen the economy of the US by bringing in trillions of dollars a year . For instance, in 2018, the global market was worth an estimated $9.6 trillion and is expected to rise to $15 trillion by 2023. In addition, the rapid growth in e-commerce businesses, such as Amazon and Alibaba, drives the logistics market as they enable businesses to ship orders to customers. The US retail e-commerce sales for the third quarter of 2021 were $214.6 billion. The e-commerce business has accelerated and contributed to the rising demand for online shopping across the globe . This industry growth has indirectly contributed to increased demand for logistics services, which is expected to drive the need for warehouses and storage units to ensure smooth transport and storage of their goods. Hence, the development of these facilities will indirectly impact the power cord reels market.
Several automotive manufacturers invested in research and development (R&D) initiatives due to the emergence of new technologies and regulations. For instance, the R&D spending on automotive vehicles by Tata Motors in 2024 is estimated to reach $124.08 million, according to the company's annual fillings. Such initiatives will enable these companies to launch passenger cars that are appealing to the market. Exponential investments in R&D initiatives enabled companies such as Hyundai, Kia, Tata Motors, and SAIC Motors to deliver high-quality passenger vehicles at reasonable prices to cater to the price-sensitive consumer segment. Thus, all these factors played an instrumental role in the growing demand for passenger vehicles in emerging economies, thereby driving the power cord reels market growth.
Offline Distribution Channel to Play a Major Role in the Market
The global offline power cord reels market to be worth $1.4 billion by 2029.
The offline distribution channel is one of the oldest and most established methods for selling, introducing, and marketing products to potential customers. In 2022, it accounted for 91% of total distribution methods for power cord reels and is expected to grow throughout the forecast period. This preference is primarily due to customers' desire to fully understand the functions and features of power cord reels, which is a critical aspect of the market.
Unlike the online distribution channel, the offline method allows customers to receive product demonstrations and use the products before making a purchase. Customers can also check the quality, colors, sizes, and other aspects in person, which significantly influences their purchasing decisions. These factors are anticipated to drive the sales of power cord reels through the offline channel during the forecast period.
Globally, one of the primary methods of equipment sales is through dealers and distributors, who play a crucial role in reaching potential customers. These intermediaries sell power cord reels from original equipment manufacturers and provide essential technical support and customer service. Efficient and timely dealers contribute significantly to brand loyalty and customer consideration, highlighting the importance of the offline distribution channel in the power cord reels market.
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Key Company Profiles
* Madison Industries
* Cox Reels
* Stanley Black & Decker
* Henny Reels INC
* Unique Hosereels
* Molex
* Ametek Inc
* Hubbell Incorporated
* Schill Gmbh & Co
* Cavotec SA
* Bayco Products Inc
* Lind Equipment
* Legacy Manufacturing
* Luceco Plc
* Iron Forge Tools
* Alert Reel Manufacturing
* Schnieder Electric
* KH Industries
Market Segmentation
Reel Type
* Spring Loaded & Retractable
* Motor
* Manual
Reel Length
* Below 75 Feet
* Above 75 Feet
End-User
* Commercial
* Public & Recreational
* Industrial
* Residential
* Others
Commercial
* Construction Sites
* Workshops & Garages
* Hospitals & Labs
* Others
Industrial
* Manufacturing
* Logistics & Warehousing
* Automotive
* Others
Public & Recreational
* School & Universities
* Event Organizers
* Sports Facilities
* Others
Distribution Channel
* Offline
* Online
Geography
* North America
* The US
* Canada
* Europe
* Germany
* The UK
* France
* Italy
* Russia
* Spain
* Netherlands
* Sweden
* APAC
* China
* Japan
* India
* South Korea
* Australia
* Latin America
* Brazil
* Mexico
* Argentina
* Middle East & Africa
* Turkey
* Saudi Arabia
* South Africa
* The UAE
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=the-power-cord-reels-market-revenue-to-hit-225-billion-by-2029-the-offline-sales-channel-to-remain-dominant-arizton]
Phone: +1 3122332770
Country: United States
Website: https://www.arizton.com/market-reports/cord-reels-market
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