Exploring the 2024 Global Cord and Cable Reels Market: Size, Lucrative Segments, and Regional Insights

Overview and Scope
Cord and cable reels are devices designed to store, manage, and deploy electrical cords or cables in a neat and organized manner. They typically consist of a cylindrical drum around which the cord or cable can be wound and often include features such as retractable mechanisms, handles, and locking systems to facilitate easy use and transport.

Sizing and Forecast
The cord and cable reels market size has grown strongly in recent years. It will grow from $7.59 billion in 2023 to $8.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%.  The growth in the historic period can be attributed to the rise in demand for industrial cable reels, expansion of industrial operations, increased focus on predictive maintenance, rise in demand for smart reels, and increased use of cord and cable reels in residential and commercial settings.

The cord and cable reels market size is expected to see strong growth in the next few years. It will grow to $10.30 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.  The growth in the forecast period can be attributed to rising demand from the construction industry, growing popularity of cord and cable reel systems in the data center, increasing demand from the electrical and electronics industry, growing emphasis on workplace safety, rising awareness regarding safety in a commercial environment. Major trends in the forecast period include advancements in cable management, industrial automation, integration of enabling technologies, advancements in materials and manufacturing, and demand for customized solutions.

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Segmentation & Regional Insights
The cord and cable reels market covered in this report is segmented –

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

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

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Major Driver Impacting Market Growth
The increasing construction activities are expected to propel the growth of the cord and cable reels market going forward. Construction activities involve the physical development of buildings, infrastructure, and other structures. Construction activities are increasing due to rapid urbanization, infrastructure development, and a focus on efficiency and accuracy in building projects. Cord and cable reels enhance efficiency, improve safety, facilitate mobility, and ensure better project management for the construction industry. For instance, in February 2024, according to Eurostat, a Europe-based government agency, the average annual building production in the EU and the euro region increased by 0.1% and 0.2%, respectively, compared to 2022. Additionally, in December 2021, according to the United States Census Bureau, a US-based government agency, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10.2%. Therefore, the increasing construction activities drive the cord and cable reels market.

Key Industry Players
Major companies operating in the cord and cable reels market are  Eaton Corporation, Emerson Electric Co., Wabtec Corporation, Legrand SA, Hubbell Inc., Nederman GmbH, Gunnebo Industries, Conductix-Wampfler GmbH, Cavotec SA, Scame, 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, Harsh Industries

The cord and cable reels market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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