Press release
The Cord And Cable Reels Market Is Poised For Growth Driven By The Booming Construction Industry Driver: A Major Catalyst in the Evolution of the Cord And Cable Reels Market in 2025
Cord And Cable Reels Market
The market for cord and cable reels has shown impressive growth recently, and it's projected to continue growing from $8.06 billion in 2024 to $8.58 billion by 2025, with a compound annual growth rate (CAGR) of 6.5%. Factors contributing to the progress seen in the past years include an ascending demand for industrial cable reels, extension of industrial procedures, an increased emphasis on predictive maintenance, a rising demand for smart reels, and the escalated utilization of cord and cable reels in both residential and commercial contexts.
Expectations indicate a robust expansion of the cord and cable reels market in the upcoming years, with projections surging to $10.92 billion by 2029, indicative of a compound annual growth rate (CAGR) of 6.2%. Factors contributing to this growth in the projected period include an upsurge in demand from the construction sector, increasing appeal of cord and cable reel systems in data centers, amplified demand within the electrical and electronics industry, a rising focus on safety in the workspace, and heightened awareness relating to safety within commercial spaces. Notable trends for the forecast period consist of progress in cable management and industrial automation, the assimilation of enabling technologies, advancements in materials and manufacturing, accompanied by a demand for tailor-made solutions.
What Are the Main Catalysts for Growth in the Cord And Cable Reels Market?
The surge in construction tasks is poised to boost the cord and cable reels market's advancement in the future. These activities pertain to the physical establishment of edifices, infrastructures, and further constructions. The growth in construction tasks is attributable to swift urbanization, infrastructure augmentation, and an emphasis on precision and productivity in building enterprises. The application of cord and cable reels results in heightened effectiveness, amplified safety measures, expedited mobility, and superior project supervision in the construction sector. For example, per Eurostat - a government organization based in Luxembourg - it was reported in February 2024 that there was an average annual rise of 0.1% and 0.2% in building production in the EU and euro zone respectively, compared to the figures from 2022. Consequently, the surge in construction undertakings propels the market for cord and cable reels.
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Who Are the Major Industry Players Fueling Cord And Cable Reels Market Expansion?
Major companies operating in the cord and cable reels market are Eaton Corporation, Emerson Electric Co., Wabtec Corporation, Legrand SA, Hubbell Inc., Nederman GmbH, Gunnebo Industries, Conductix-Wampfler GmbH, Cavotec SA, sca*me, Paul Vahle GmbH & Co. KG, Reelcraft Industries Inc., Coxreels Co., Gleason Reel Corporation, Demac Srl, United Equipment Accessories Inc., Hannay Reels Inc., Bright Industries, Embicon Tech Hub, Hartmann & König Stromzuführungs, Hinar Electric Co., Stemmann-Technik GmbH, Hindustan Engineers, Vijay Engineering Corporation, Harsh Industries
Which Key Developments Are Influencing the Cord And Cable Reels Market?
Leading businesses in the cord and cable reels market are now producing retractable power cord reels to amplify convenience, safety, and efficiency across different sectors. These retractable power cord reels afford easy access to power, whilst also reducing risks and mess associated with dangling cords. Their perks encompass better safety, orderliness and efficiency, making them an important asset in numerous industries. For example, SKF Lincoln, an American manufacturing firm, launched a new 60-foot retractable electrical power cord reel in February 2024. This product, which was designed to offer high-quality and premium features to its users, aims to boost safety, ease, and productivity in varied environments where there's need for electrical power, serving a multitude of uses including construction, maintenance, and more sectors.
How Is the Segmentation of the Cord And Cable Reels Market Defined?
The cord and cable reels market covered in this report is segmented -
1) By Type: Spring Loaded, Motorized, Manual
2) By Material: Metal, Plastic
3) By Application: Industrial, Commercial, Residential
4) By End-User: Construction, Manufacturing, Automotive, Energy, Marine
Subsegments:
1) By Spring Loaded: Automatic Retractable Reels, Manual Spring-Loaded Reels
2) By Motorized: Electric Cord Reels, Pneumatic Cord Reels
3) By Manual: Hand Crank Reels, Wind-Up Reels
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What Is the Leading Region in the Cord And Cable Reels Market?
Asia-Pacific was the largest region in the cord and cable reels market in 2023. The regions covered in the cord and cable reels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Cord And Cable Reels Global Market Report?
- Market Size Analysis: Analyze the Cord And Cable Reels Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cord And Cable Reels Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cord And Cable Reels Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cord And Cable Reels Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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