Industrial Cable Reels Market Expected to Expand at a Steady CAGR through 2018-2028
Industrial Cable Reels Market research report covers detailed information on Global Industrial Cable Reels Market Size, Share, application, competition and growth opportunities till 2028
[USPRwire, Tue Dec 04 2018] Industrial cable reels are also referred to as heavy duty cable reels, which are designed for providing power or transporting fluids in an industrial application. Industrial cable reels are retractable automatic or semi-automatic reels, which enable easy and safe operations in indoor or outdoor industrial applications. These industrial cable reels could be wall, ceiling, or bench mounted, and they are widely adopted in industrial applications such fire trucks, food and beverages, construction, waste water treatment, power distribution, and others, for supplying fluid or power to stationary or portable equipment and tools. Industrial cable reels are available in various types such as hand wind or manual industrial cable reels, spring driven industrial cable reels, and powered industrial cable reels.
Industrial cable reels are reliable, sturdy, corrosion resistive, and easy to install and maintain. They are designed to enhance safety at warehouses, manufacturing facilities, and in other applications. These characteristics and benefits are the key market drivers for the industrial cable reels market. Cables are needed in all industries for lifting cranes, moving equipment, and supplying power or fluid. Among the industrial cable reel product types, automatic industrial cable reels are expected to be more in demand as compared to the semi-automatic type, as they are easy to operate and have a wider array of applications.
Moreover, the aftersales and services of the cable industry has a great potential to create opportunities for the industrial cable reels market over the projected period, thereby contributing towards the growth of the market.
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Increasing safety of residential and commercial areas is expected to create demand for fire safety equipment and trucks, which, in turn, is expected to increase the demand for industrial cable reels over the forecast period. Further, according to NEMA (National Electrical Manufacturers Association), the electrical safety committee has established certain standards under NEMA-3 and NEMA-4, which mandates the adoption of industrial cable reels in industrial applications. This will have a direct effect on the demand for industrial cable reels.
However, the high initial cost is expected to challenge their adoption in small to medium manufacturing sectors. This, in turn, is expected to hamper the growth of the global industrial cable reels market to some extent.
During the forecast period, Asia Pacific (China, India, and South East Asia Pacific) is expected to hold a greater share of the market, owing to the increasing consumption of cables and wires in various end-use industries such as building and construction, etc. Also, China, being a manufacturing hub, and China and India being among the emerging countries, are stipulated to witness robust growth in the market, owing to increased construction activities as well as the increased demand for energy. North America is anticipated to register significant growth after Asia Pacific as a result of the region’s inclination towards industrial workplace safety. Increasing import and export of oil and gas in the Middle East and Africa, coupled with growing awareness of waste water management, is stipulated to increase the trade of industrial cable reels in the coming years.
Examples of some of the market participants in the global industrial cable reels market identified across the value chain include: Molex, LLC, Nederman Holding AB, Hannay Reels Inc., Zeca S.p.A., Eaton, United Equipment Accessories, Inc., Reelcraft Industries, Coxreels, Topring etc.
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