Cord and Cable Reels Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, July 22, 2024 /EINPresswire.com/ -- The global cord and cable reels market has experienced robust growth, increasing from $7.59 billion in 2023 to $8.06 billion in 2024, with a compound annual growth rate (CAGR) of 6.2%. It will grow to $10.30 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. This growth is driven by factors such as rising demand for industrial cable reels, expansion of industrial operations, increased focus on predictive maintenance, the growing popularity of smart reels, and heightened use of cord and cable reels in residential and commercial settings.

Increasing Construction Activities Drive Market Growth
The surge in construction activities is a key driver of the cord and cable reels market. With rapid urbanization, infrastructure development, and a focus on efficiency and accuracy in building projects, the demand for cord and cable reels is increasing. These reels enhance efficiency, improve safety, and facilitate mobility, thus bettering project management in the construction sector. For example, Eurostat reported a 0.1% increase in average annual building production in the EU in February 2024. Additionally, the United States Census Bureau noted a 10.2% rise in construction activity value from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. This growth underscores the role of cord and cable reels in supporting the expanding construction sector.

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Key Players and Market Trends
Major companies operating in the cord and cable reels market include Eaton Corporation, Emerson Electric Co., Wabtec Corporation, Legrand SA, Hubbell Inc., Nederman GmbH, Gunnebo Industries, Conductix-Wampfler GmbH, Cavotec SA, Scame, 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. These companies are advancing retractable power cord reels to improve convenience, safety, and efficiency across various industries. For instance, SKF Lincoln introduced a new 60-foot retractable electrical power cord reel in February 2024, designed to enhance safety and productivity in settings requiring electrical power.

Trends Shaping the Market
Key trends influencing the cord and cable reels market include advancements in cable management, industrial automation, integration of enabling technologies, and developments in materials and manufacturing. The demand for customized solutions and the growing popularity of cord and cable reel systems in data centers are also noteworthy. These trends highlight the ongoing evolution and innovation within the market, addressing various industry needs and enhancing operational efficiency.

Segments
• By Type: Spring Loaded, Motorized, Manual
• By Material: Metal, Plastic
• By Application: Industrial, Commercial, Residential
• By End-User: Construction, Manufacturing, Automotive, Energy, Marine

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the cord and cable reels market in 2023 and is expected to continue leading the market. The comprehensive report offers detailed insights into regional dynamics, market trends, and growth opportunities.

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Cord And Cable Reels Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Cord And Cable Reels Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cord and cable reels market size, cord and cable reels market drivers and trends, cord and cable reels market major players, competitors' revenues, market positioning, and market growth across geographies. The cord and cable reels market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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