Press release
Cable Drum Market to Reach $767.5 Mn, Globally, by 2026 at 4.1% CAGR: Allied Market Research
Allied Market Research published a report, titled, "Cable Drum Market by Material (Wood, Plywood, Plastic, and Steel) and Mechanism (Manual, and Motorized): Global Opportunity Analysis and Industry Forecast, 2019-2026." 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.Drivers, restraints & opportunities-
Evolution in the oil and gas industries, rise in potential in the construction industry, and surge in need for automation in the process industries drive the growth of the global cable drum market. On the other hand, slowdown in mining industry, and competition from domestic manufacturers hamper the growth to some extent. Nevertheless, rise in government expenditure for electricity is expected to pave the way for a number of opportunities in the market.
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The wood segment to retain its dominance during the estimated period-
Based on type and material, the wood segment contributed to more than half of the global cable drum market share in 2018, and is expected to rule the roost by the end of 2026. Developments in digital infrastructure around the globe drives the segment growth. Simultaneously, the plastic segment would register the fastest CAGR of 5.1% during from 2019 to 2026. The telecommunications development in developing economy such as China, India, and others propels the demand for plastic cable drums.
The motorized segment to lead the trail during the study period-
Based on mechanism, the motorized segment held the major share in 2018, accounting for more than half of the global cable drum market. The same segment is also projected to showcase the fastest CAGR of 4.5% till 2026. Motorized cable drums come with advanced features such as three phase motor for reel drive, and top-end helical springs. This factor has boosted the growth of the segment.
Europe, followed by Asia-Pacific and North America, to rule the roost by 2026-
Based on geography, Europe accounted for two-fifths of the global cable drum market revenue in 2018, and is anticipated to dominate during the estimated period. Increase in investment on telecom sector and technologically enhanced infrastructure across Europe drives the market. The Asia-Pacific region, on the other hand, would cite the fastest CAGR of 5.2% throughout the forecast period. This is due to rise in the investment on industrial manufacturing and strengthening economic growth in this province. The other two regions analyzed through the market report include North America and LAMEA.
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Key players in the market-
Schwabe GmbH
Cable Equipements
Conductix-Wampfler
Svenssongroup
Coxreels
Hildebrandt Group
Nicoletti
Bryant Unlimited
Hannay Reels
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