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Leading Companies Enhancing Their Presence in the Cord and Cable Reels Market
Cord And Cable Reels Market
Projected Market Size of the Cord and Cable Reels Industry by 2030
The cord and cable reels market is poised for steady growth, reaching an estimated $10.92 billion by 2030. This growth aligns with a compound annual growth rate (CAGR) of 5.2% over the forecast period. Key factors contributing to this expansion include the rise of smart factory implementations, the increasing use of automated machinery, heightened demand for effective energy distribution, ongoing infrastructure development projects, and a stronger emphasis on ergonomic solutions in workplace settings. Anticipated market trends involve greater adoption of retractable cord reels in industrial environments, increased preference for durable metal cable reels, more frequent use of motorized reels in automation, growth in safety-oriented cable management products, and rising demand for compact, portable cable reel designs.
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Leading Companies Driving the Cord and Cable Reels Market
Several prominent players dominate the cord and cable reels landscape, including Eaton Corporation, Emerson Electric Co., Wabtec Corporation, Legrand SA, Hubbell Inc., Nederman GmbH, and Gunnebo Industries. Others like 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, and Harsh Industries also contribute significantly to the market's competitive landscape.
Strategic Acquisition Enhancing Market Presence
In a key move to bolster its offerings, MB Cable Company, a US-based cable and wire solutions provider, acquired One Pull in September 2023. Although the financial details were not disclosed, this acquisition aims to expand MB Cable's advanced manufacturing capabilities and strengthen its presence across vital regions. One Pull, also based in the US, specializes in manufacturing cord and cable reels, making this integration an important step toward delivering more comprehensive and efficient cable solutions to customers.
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How New Trends Are Impacting the Cord and Cable Reels Industry
Industry leaders are increasingly focusing on developing retractable power cord reels to improve safety, ease of use, and operational efficiency across various sectors. These retractable reels help reduce clutter and prevent hazards related to loose cables, promoting better organization and safer working environments. For example, in February 2024, SKF Lincoln, a US manufacturing company, launched a new 60-foot retractable electrical power cord reel designed to offer premium quality and enhanced user convenience. This product targets applications like construction, maintenance, and other industries where reliable and safe electrical power access is essential.
Important Market Segments and Forecasts in the Cord and Cable Reels Sector
The cord and cable reels market is categorized into several important segments:
1) By Type: Spring Loaded, Motorized, and Manual
2) By Material: Metal and Plastic
3) By Application: Industrial, Commercial, and Residential
4) By End-User: Construction, Manufacturing, Automotive, Energy, and Marine
These categories are further broken down into specific subsegments such as Automatic Retractable Reels and Manual Spring-Loaded Reels under Spring Loaded; Electric Cord Reels and Pneumatic Cord Reels under Motorized; and Hand Crank Reels and Wind-Up Reels under Manual, providing a detailed overview of the market's structure and future growth potential.
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