The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Strong Market Performance

• Current Market Size: $7.59 billion in 2023, growing to $8.06 billion in 2024.
• Growth Rate: CAGR of 6.2%.
• Key Drivers:
  • Increased demand for industrial cable reels.
  • Expansion of industrial operations.
  • Focus on predictive maintenance.
  • Rise in demand for smart reels.
  • Increased residential and commercial usage.

Future Market Projections

• Forecasted Market Size: Expected to reach $10.30 billion by 2028.
• Growth Rate: CAGR of 6.3%.
• Growth Factors:
  • Rising demand from the construction industry.
  • Popularity of cable reel systems in data centers.
  • Increased demand from the electrical and electronics industry.
  • Emphasis on workplace safety.
  • Growing safety awareness in commercial environments.

View More On The Cord And Cable Reels Market Report 2024 –
https://www.thebusinessresearchcompany.com/report/cord-and-cable-reels-global-market-report

Key Trends Shaping the Future

• Advancements in cable management.
• Industrial automation.
• Integration of enabling technologies.
• Innovations in materials and manufacturing.
• Demand for customized solutions.

Construction Industry: A Major Growth Driver

• Significance: Increasing construction activities drive market growth.
• Role of Reels: Enhance efficiency, improve safety, facilitate mobility, and ensure better project management.
• Statistics:
  • EU building production rose by 0.1% (annual average) in 2023.
  • US construction activities grew from $1,626.4 billion in 2021 to $1,792.9 billion in 2022 (10.2% growth).

Major Players in the Market

• Leading Companies: Eaton Corporation, Emerson Electric Co., Wabtec Corporation, Legrand SA, Hubbell Inc., and others.
• Notable Developments:
  • Retractable Power Cord Reels: Companies like SKF Lincoln introduced advanced reels, improving safety and efficiency.
  • Product Innovations: Focus on convenience, safety, and productivity.

Strategic Acquisitions

• United Equipment Accessories Inc.:
  • Acquisition: Acquired American Reels in August 2022.
  • Objective: Enhance product offerings and provide comprehensive solutions.

Market Segmentation

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

Regional Insights

• Largest Market: Asia-Pacific region led the market in 2023.

In conclusion, the cord and cable reels market is experiencing robust growth driven by various industrial demands and technological advancements. With continued expansion expected in the coming years, this market remains a dynamic and integral part of global industrial operations.

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The Cord And Cable Reels Global Market Report 2024  provides comprehensive insights on the cord and cable reels market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the cord and cable reels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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