At a CAGR of 4.1% | Cable Drum Market: A Comprehensive Analysis Exploring Growth Opportunities by 2026

Growth of the oil & gas industry, and growth potential of the construction industry are factors which drives the cable drum market growth.

WILMINGTON, DELAWARE, March 21, 2024 /EINPresswire.com/ -- The global cable drum market is experiencing significant growth, propelled by various factors such as evolution in the oil and gas industries, increasing potential in the construction sector, and a rising demand for automation in process industries.

The global cable drum market size was valued at $547.3 million in 2018, and is projected to reach $767.5 million by 2026, registering a CAGR of 4.1% from 2019 to 2026.

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Rise in investments in the telecom sector and technologically enhanced infrastructure across Europe majorly drives the market. There has been a growing adoption of cable drums in Europe due to rise in potential demand for cables for various industry applications.

In terms of material and type, the wood segment maintained its dominance in 2018, contributing to over half of the market share. This trend is expected to continue until 2026, driven by advancements in digital infrastructure worldwide. Additionally, the plastic segment is projected to exhibit the fastest Compound Annual Growth Rate (CAGR) of 5.1% from 2019 to 2026, fueled by telecommunications development in emerging economies like China and India, leading to a surge in demand for plastic cable drums.

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Within the market segments, the motorized segment emerged as the leader in 2018, capturing more than half of the global cable drum market share. This segment is forecasted to maintain its dominance, with a rapid CAGR of 4.5% until 2026. Motorized cable drums offer advanced features like three-phase motors for reel drive and top-notch helical springs, contributing significantly to their growth.

Geographically, Europe took the lion's share of the market revenue in 2018, accounting for two-fifths of the total. This region is poised to continue its dominance due to increased investments in the telecom sector and technologically advanced infrastructure. Meanwhile, the Asia-Pacific region is expected to witness the fastest CAGR of 5.2% during the forecast period, driven by escalating investments in industrial manufacturing and robust economic growth. Other regions analyzed in the market report include North America and LAMEA.

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Top Players:
The key players profiled in the report include Hildebrandt Group, Schill GmbH & Co. Kg., as - Schwabe GmbH, Cable Equipment, Conductix-Wampfler, Coxreels, Nicoletti, Bryant Unlimited, Hannay Reels, and Svenssongroup.

Key Findings of the Study:

The report provides an extensive analysis of the current and emerging cable drum market trends and dynamics.
Depending on material, the wood segment dominated the cable drum market, in terms of revenue in 2018 and the plastic segment is projected to grow at a CAGR 5.1% during the forecast period.
By mechanism, the motorized segment led the cable drum market in 2018.
Asia-Pacific is projected to register the highest growth rate in the coming years.
Key market players within the cable drum market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the cable drum industry.
The report provides an extensive analysis of the cable drum market trends and its emerging opportunities.
In-depth cable drum market analysis is conducted by constructing estimations for key segments between 2018 and 2026.
The global cable drum market forecast analysis from 2019 to 2026 is included in the report.

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