Press release
Top Players and Market Competition in the Cord and Cable Reels Industry
Cord And Cable Reels
Projected Expansion of the Cord and Cable Reels Market by 2029
The market for cord and cable reels is anticipated to reach a valuation of $10.43 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.4%. This upward trajectory stems from several factors, including heightened demand from the construction sector and growing use of cord and cable reel systems within data centers. Additionally, the electrical and electronics industries are increasingly adopting these systems. There is also a stronger focus on workplace safety and greater awareness concerning commercial environment safety protocols. Key trends expected to influence market growth include advancements in cable management solutions, progress in industrial automation, integration of enabling technologies, improvements in materials and manufacturing processes, and the rising need for tailored product offerings.
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Top Companies Leading the Cord and Cable Reels Industry
Several prominent players dominate the cord and cable reels market globally, such as Eaton Corporation, Emerson Electric Co., Wabtec Corporation, Legrand SA, Hubbell Inc., Nederman GmbH, Gunnebo Industries, Conductix-Wampfler GmbH, Cavotec SA, e, 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.
A notable development in this industry occurred in August 2022 when United Equipment Accessories Inc., a US-based manufacturer specializing in cord reels, acquired American Reels, another US company known for high-quality cord and cable reels. The transaction's terms were undisclosed, but the acquisition is expected to broaden UEA's product portfolio and enhance the range of solutions available to customers.
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Emerging Trends Enhancing the Cord and Cable Reels Market
Industry leaders are focusing on the development of retractable power cord reels to boost convenience, safety, and operational efficiency across various sectors. Retractable cord reels help minimize clutter and reduce hazards linked to loose cords, which improves workplace organization and safety. They are proving to be valuable tools in numerous industries due to these benefits. For example, in February 2024, SKF Lincoln, a US-based manufacturer, launched a 60-foot retractable electrical power cord reel. This product integrates premium features designed to enhance safety, convenience, and productivity in diverse applications such as construction, maintenance, and other industrial environments.
Detailed Segmentation of the Global Cord and Cable Reels Market
The global cord and cable reels market is segmented by type, material, application, and end user as follows:
1) By Type:
- Spring Loaded
- Motorized
- Manual
2) By Material:
- Metal
- Plastic
3) By Application:
- Industrial
- Commercial
- Residential
4) By End User:
- Construction
- Manufacturing
- Automotive
- Energy
- Marine
Further subcategories include:
- Spring Loaded Reels: Automatic Retractable Reels, Manual Spring-Loaded Reels
- Motorized Reels: Electric Cord Reels, Pneumatic Cord Reels
- Manual Reels: Hand Crank Reels, Wind-Up Reels
This comprehensive segmentation helps in understanding the diverse applications and product variations within the market, enabling targeted strategies by manufacturers and suppliers.
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