Industrial Cable Reels Global Market Report 2024

The industrial cable reels market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to several factors, including increased adoption in the healthcare sector, growth in urbanization and the development of smart cities, improvements in customer support services, increased investments in research and development, the expansion of telecommunications networks, and the development of smart factories.

The industrial cable reels market size is expected to see strong growth in the next few years. It will grow to $2.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to the development of educational and training programs, the rising demand for cable reels in the renewable energy sector, a focus on developing cost-effective cable reels, the increasing energy consumption requiring efficient distribution systems, and the growth in port and maritime operations. Major trends in the forecast period include industry focus on sustainability initiatives, the introduction of hybrid cable reel systems that combine manual and motor-driven mechanisms, adoption in the aerospace sector, the integration of energy storage solutions, and the customization and modularization of solutions.

The growing emphasis on workplace safety is anticipated to drive the expansion of the industrial cable reels market in the coming years. Workplace safety entails creating secure environments by addressing potential risks such as cluttered walkways, uneven surfaces, and loose cables. Various factors, including an increased focus on corporate social responsibility, technological advancements, and favorable regulatory compliance, contribute to the rising demand for workplace safety measures. Industrial cable reels play a crucial role in enhancing workplace safety by keeping cables organized and off the floor, thus reducing tripping hazards and maintaining a tidy workspace. For example, according to the Workplace Safety and Health Report 2021 by the Ministry of Manpower in Singapore, workplace injuries increased from 11,350 in 2020 to 12,766 in 2021, underscoring the importance of addressing tripping hazards and promoting workplace safety.

Leading companies in the industrial cable reels market are innovating by developing solutions such as slip ring-free cable reels to improve reliability and reduce maintenance costs while facilitating easy cable management. Slip ring-free solutions eliminate the need for rotating electrical contacts, thereby enhancing reliability and reducing maintenance expenses. These solutions ensure uninterrupted power and signal transmission, minimize the risk of electrical failures, and prolong equipment lifespan, resulting in enhanced operational efficiency and reduced downtime. For instance, in February 2021, igus introduced the e-spool flex 2.0, a cable reel designed to provide slip ring-free cable management for industrial robot applications. This solution offers seamless cable handling, simple setup, and adaptable mobility, prioritizing safety and operational efficiency. Additionally, its snail mechanism enables continuous cable connection and easy insertion of existing cables, even with attached connectors. The technology also guarantees dependable transmission and offers various winding configurations.

In April 2022, Nexans S.A., a France-based automation company, acquired Centelsa for $225 million, aiming to bolster its presence in Latin America and strengthen its position in the industrial cable reels market. Centelsa, headquartered in Colombia, specializes in manufacturing cable wires for commercial, industrial, and residential installations, contributing to Nexans' enhanced capacity and capability in the region.

Major companies operating in the industrial cable reels market are Schneider Electric SE, Eaton Corporation plc, TE Connectivity, Emerson Electric Co., Marmon Holdings Inc., Southwire Company LLC, Hubbell Incorporated, Atkore, Tsubakimoto Chain Co., Nederman Holding AB, Conductix-Wampfler GmbH, Cavotec SA, BICC Cables, Reelcraft Industries, Coxreels, Arnold Fire Equipment, Power and Rubber, DEMAC, Hannay Reels Inc., United Equipment Accessories Inc., Schill GmbH & Co. KG, United Universal Industries Inc., Duro Manufacturing LLC, Reel Power Industrial, Paul Vahle GmbH & Co. KG.

Asia-Pacific was the largest region in the industrial cable reels market in 2023. The regions covered in the industrial cable reels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the industrial cable reels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Industrial cable reels are essential tools designed for the organization, storage, and deployment of long, heavy-duty cables in industrial environments. They play a crucial role in ensuring efficient cable handling, preventing tangling, and safeguarding cables from wear and damage, thus maintaining cable integrity and efficiency in demanding settings.

The primary types of industrial cable reels include spring-driven, motor-driven, and manual variants. Spring-driven cable reels utilize stored spring energy to automatically retract cables. They can be wall-mounted, ceiling- or floor-mounted, and bench-mounted, catering to various applications across industries such as general industry, ports and terminals, mining and tunneling, steel mills and aluminum plants, construction, energy, and others.

The industrial cable reels market research report is one of a series of new reports that provides industrial cable reels market statistics, including the industrial cable reels industry global market size, regional shares, competitors with industrial cable reels market share, detailed industrial cable reels market segments, market trends, and opportunities, and any further data you may need to thrive in the industrial cable reels industry. These industrial cable reels market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The industrial cable reels market consists of sales of standard cable reels, heavy-duty cable reels, retractable cable reels, welding cable reels, power cord reels, data cable reels, and hose reels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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