Global Cable Drum Market Predicted to Reach USD 750 Million By 2026

19-May-2021 | Facts and Factors

As per the market research report published by Facts and Factors, the global cable drums market was valued at USD 580 Million in 2020. This market is further expected to generate revenue of around USD 800 Million by end of 2026, growing at a CAGR of around 4.4% between 2020 and 2026.

Cable drums are devices that are designed to hold lengths of wires and cables for communication and internet services without getting tangled. They are often used for transporting these wires to their destinations. As automation and advancements take place in the communication and automotive industry, a huge wreath of groundwork will be required to provide the required support for it. VFD cables are installed in huge numbers for better communication means. Additionally, other factors such as underground utilization of transportation and increased urbanization will lead to the growth of the cable drum market.

Increased government spending along with huge investment in the private sector catering to the communication sector will play a big role in the direction of the cable drum market. Structured monetary gains from FDI play an important role in rolling out the next generation of mobile networks. As the next batch of 5G networks begins functionality at a global scale, the required groundwork will still be needed to complete.

Top Market Players

Some major participants in the global cable drum market are Hannay Reels, Svenssongroup, ESHAL TRADERS & CO, Paul Vahle GnbH & Co., and Nederman Holding AB, among others.

Market Dynamics

The large-scale government implemented initiatives to boost the cable drum market to a greater extent. For instance, China plans on building the world’s largest super grid that will connect six regional grids in a big to expand their power requirements. Similarly, the Indian Government introduced the Accelerated Power Development and Reforms Programme (APDRP) and Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) in order to enhance power distribution to rural areas. Key players in the sector are also employing similar means. Bryant Unlimited offered a variety of cable drums in order to suit every need such as sturdy cable reel, marcaddy cable drums, skeleton cable drums, and spare drums. Similarly, Coxreels offered spring-driven reels, EZ coil reels, and motorized reels in order to keep up the demand from sectors pertaining to aviation, marine, and utilities.

On the basis of material, the market can be segmented into wood, plastic, plywood, and steel. Steel occupies the largest market share in the segment owing to a variety of advantages over the materials. However, the plastic subsegment has been picking up steam with the latest addition of renewable and cheap materials.

On the basis of the mechanism utilized, the cable drum market can be segmented into motorized & manual means. The mechanized drums account for the largest market share in the segment owing to shifting industry standards.

The Region of Europe Will Retain the Highest Market Share

Europe will witness the highest growth of market share in terms of revenue generation during the forecast period. The region is expected to witness a tremendous rise in industries pertaining to automobiles, manufacturing, and power generation. These sectors rely heavily on cables and wires as the framework which will boost the market of cable drums to a certain extent. However, the region of Asia-Pacific will witness the highest growth CAGR during the forecast period. Rise in urbanization in the region along with the region advancing towards becoming the largest portal of electronic appliances and automobiles.

Report Scope

Browse the full “Cable Drum Market By Material (Wood, Plastic, Plywood, and Steel), By Mechanism Utilized (Motorized & Manual), and By Regions - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/cable-drum-market.

The global cable drum market can be segmented into:

Global Cable Drum Market: By Material Segment Analysis

• Wooden
• Plastic
• Plywood
• Steel

Global Cable Drum Market: By Mechanism Utilized Segment Analysis

• Mechanized
• Manual

Global Cable Drum Market: By Regional Segment Analysis

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

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